Common use of All Unvested Shares Forfeited Upon Cessation of Service Clause in Contracts

All Unvested Shares Forfeited Upon Cessation of Service. Upon cessation of Grantee’s service with the Company for any reason or for no reason (and whether such cessation is initiated by the Company, the Grantee or otherwise): (i) any Awarded Shares that have not, on or prior to the effective date of such cessation, become nonforfeitable will immediately and automatically, without any action on the part of the Company, be forfeited, and (ii) the Grantee will have no further rights with respect to those shares.

Appears in 4 contracts

Samples: Stock Award Agreement (DFC Global Corp.), Stock Award Agreement (Dollar Financial Corp), Stock Award Agreement (Dollar Financial Corp)

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All Unvested Shares Forfeited Upon Cessation of Service. Upon Except as provided in Section 2(c) below, upon cessation of Grantee’s service with the Company for any reason or for no reason (and whether such cessation is initiated by the Company, the Grantee or otherwise): (i) ), any Awarded Shares that have not, on or prior to the effective date of such cessation, become nonforfeitable will immediately and automatically, without any action on the part of the Company, be forfeited, forfeited and (ii) the Grantee will have no further rights with respect to those shares.

Appears in 2 contracts

Samples: Award Agreement for Restricted Shares (Igi Inc), Award Agreement for Restricted Shares (Igi Inc)

All Unvested Shares Forfeited Upon Cessation of Service. Upon cessation of Grantee’s service with the Company for any reason or for no reason (and whether such cessation is initiated by the Company, the Grantee or otherwise): (i) ), any Awarded Shares that have not, on or prior to the effective date of such cessation, become nonforfeitable will immediately and automatically, without any action on the part of the Company, be forfeited, forfeited and (ii) the Grantee will have no further rights with respect to those shares.

Appears in 2 contracts

Samples: Award Agreement for Restricted Shares (Igi Laboratories, Inc), Award Agreement for Restricted Shares (Igi Inc)

All Unvested Shares Forfeited Upon Cessation of Service. Upon cessation of Grantee’s service with the Company for any reason or for no reason (and whether such cessation is initiated by the Company, the Grantee or otherwise): (i) any Awarded Shares that have not, on or prior to the effective date of such cessation, become nonforfeitable will (taking into account the application of Section 2(b), above) shall immediately and automatically, without any action on the part of the Company, be forfeited, and (ii) the Grantee will shall have no further rights with respect to those sharesAwarded Shares.

Appears in 1 contract

Samples: Award Agreement for Restricted Shares (Vasco Data Security International Inc)

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All Unvested Shares Forfeited Upon Cessation of Service. Upon cessation of Grantee’s service with the Company for any reason or for no reason (and whether such cessation is initiated by the Company, the Grantee or otherwise): (i) any Awarded Shares that have not, on or prior to the effective date of such cessation, become nonforfeitable will shall immediately and automatically, without any action on the part of the Company, be forfeited, and (ii) the Grantee will shall have no further rights with respect to those sharesAwarded Shares.

Appears in 1 contract

Samples: Award Agreement for Restricted Shares (Vasco Data Security International Inc)

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