Cause Termination. Notwithstanding paragraph 2, 3 or 4, if the end of the Measurement Period or a vesting event described in paragraph 3 or 4 occurs after the date that Participant is advised by the Company that Participant’s employment is being, or will be, terminated for Cause, then no further portion of this Award shall vest on the end of the Measurement Period or other vesting event and, upon the date of Participant’s actual termination of employment for Cause, any unvested portion of this Award shall be immediately forfeited without consideration.
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Samples: Performance Unit Award Agreement (Albemarle Corp), Performance Unit Award Agreement (Albemarle Corp)
Cause Termination. Notwithstanding paragraph 2, 3 or 4, if the end of the Measurement Period Vesting Date or a vesting event described in paragraph 3 or 4 occurs after the date that Participant is advised by the Company that Participant’s employment is being, or will be, terminated for Cause, then no further portion of this Award shall vest on the end of the Measurement Period Vesting Date or other vesting event and, upon the date of Participant’s actual termination of employment for Cause, any unvested portion of this Award shall be immediately forfeited without consideration.
Appears in 2 contracts
Samples: Restricted Stock Unit Award Agreement (Albemarle Corp), Restricted Stock Unit Award Agreement (Albemarle Corp)
Cause Termination. Notwithstanding paragraph 2, 3 or 4, if the end of the Measurement Period Vesting Date or a vesting event described in paragraph 3 or 4 occurs after the date that Participant is advised by the Company that Participant’s employment is being, or will be, terminated for Cause, then no further portion of this Award shall vest on the end of the Measurement Period Vesting Date or other vesting event and, upon the date of Participant’s actual termination of employment for Cause, any unvested portion of this Award shall be immediately forfeited without consideration.
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