Conditions of Forfeiture. Except as set forth in Section 2 above, upon any termination of Participant’s Continuous Service (the “Termination Date”) for any or no reason, including but not limited to Participant’s voluntary resignation or termination by the Company with or without cause, before all of the Phantom Shares become Vested Phantom Shares, all Unvested Phantom Shares as of the Termination Date shall, without further action of any kind by the Company or Participant, be forfeited.
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Samples: Phantom Stock Agreement (Sanchez Energy Corp), Phantom Stock Agreement (Sanchez Energy Corp), Phantom Stock Agreement (Sanchez Energy Corp)
Conditions of Forfeiture. Except as set forth in Section 2 above, upon Upon any termination of Participant’s Continuous Service (the “Termination Date”) for any or no reason, including but not limited to Participant’s voluntary resignation or termination by the Company with or without causefor Cause, before all of the Phantom Shares become Vested Phantom Shares, all Unvested Phantom Shares as of the Termination Date shall, without further action of any kind by the Company or Participant, be forfeited.
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