All Other Terminations and Covenant Breach. If the Employee’s employment with the Company or its subsidiaries is terminated for Cause or for a reason other than one of the reasons described in Section 5(b) or if the Employee engages in a Covenant Breach (as defined below), all or any portion of the vested Class B Units owned by him, his estate or any of his permitted transferees, whether now owned or subsequently acquired, shall expire and will be immediately forfeited and canceled in their entirety without any consideration to the Employee. “Covenant Breach” shall mean with respect to the Employee, any of the actions which are prohibited or the failure to take any actions that are required to be taken by the Employee, in each case as described in Sections 6 and 7, with respect to non-solicitation and confidentiality.
Appears in 4 contracts
Samples: Unit Grant Agreement (Velocity Financial, LLC), Unit Grant Agreement, Unit Grant Agreement