Common use of Termination of RSUs Clause in Contracts

Termination of RSUs. (a) If there is a cessation of your continuous Service for any reason, including a termination of your employment or Service by the Company or any Affiliate (as the case may be), with or without “Cause” (as defined in Section 2.5 of the Plan), all then unvested RSUs shall be forfeited to the Company forthwith, and all rights you have in or to such RSUs shall immediately terminate. (b) If the vesting of the RSUs, or any of them, is subject to satisfaction of any conditions (“Vesting Conditions”), in addition to or in lieu of remaining in the continuous Service for a period or periods of time set forth in the Vesting Schedule, the RSUs will terminate and be forfeited back to the Company upon the failure of such Vesting Condition or Conditions to be satisfied, as more fully set forth in Attachment A hereto. (c) In case of any dispute as to whether a cessation of your continuous Service has occurred or whether or not there has been a failure of any other Vesting Condition to be satisfied, the Committee shall have sole discretion to determine, with finality, whether such cessation of Continuous Service has occurred or if there has been a failure of any other Vesting Condition to be satisfied and the effective date of the termination and forfeiture of the unvested RSUs resulting therefrom.

Appears in 2 contracts

Sources: Restricted Stock Unit Agreement (First Foundation Inc.), Restricted Stock Unit Agreement (First Foundation Inc.)