Common use of Employment Requirement; Forfeiture Clause in Contracts

Employment Requirement; Forfeiture. Except as provided herein, the Grantee must remain continuously employed by the Company or one of its Affiliates from the Date of Grant and until the Performance-Vested Restricted Stock Unit Award (or a portion thereof) has vested in order to be entitled to receive shares of Common Stock in settlement of such Performance-Vested Performance-Vested Restricted Stock Unit Award (or portion thereof, as the case may be). Upon the Grantee’s Termination of Employment with the Company or an Affiliate for any reason, including for Cause or as a result of the Grantee’s Resignation (other than due to death, Retirement or Disability), before the Grantee’s Performance-Vested Restricted Stock Units have fully vested, the Grantee will forfeit that portion of the Performance-Vested Restricted Stock Units that have not vested as of the date of the Grantee’s Termination of Employment.

Appears in 2 contracts

Samples: Performance Vested Restricted Stock Unit Award Agreement, Performance Vested Restricted Stock Unit Award Agreement (M&t Bank Corp)

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Employment Requirement; Forfeiture. Except as provided herein, the Grantee must remain continuously employed by the Company or one of its Affiliates from the Date of Grant and until the Performance-Vested Hurdled Restricted Stock Unit Award (or a portion thereof) has vested in order to be entitled to receive shares of Common Stock in settlement of such Performance-Vested Performance-Vested Hurdled Restricted Stock Unit Award (or portion thereof, as the case may be). Upon the Grantee’s Termination of Employment with the Company or an Affiliate for any reason, including for Cause or as a result of the Grantee’s Resignation resignation (other than due to death, Retirement a Qualifying Separation, Position Elimination or Disability), before the Grantee’s Performance-Vested Hurdled Restricted Stock Units have fully vested, the Grantee will forfeit that portion of the Performance-Vested Hurdled Restricted Stock Units that have not vested as of the date of the Grantee’s Termination of Employment.

Appears in 1 contract

Samples: Performance Hurdled Restricted Stock Unit Award Agreement (M&t Bank Corp)

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Employment Requirement; Forfeiture. Except as provided herein, the Grantee must remain continuously employed by the Company or one of its Affiliates from the Date of Grant and until the Performance-Vested Restricted Stock Unit Award (or a portion thereof) has vested in order to be entitled to receive shares of Common Stock in settlement of such Performance-Vested Performance-Vested Restricted Stock Unit Award (or portion thereof, as the case may be). Upon the Grantee’s Termination of Employment with the Company or an Affiliate for any reason, including for Cause or as a result of the Grantee’s Resignation (other than due to death, Retirement or Disability), before the Grantee’s Performance-Vested Restricted Stock Units have fully vested, the Grantee will forfeit that portion of the Performance-Vested Restricted Stock Units that have not vested as of the date of the Grantee’s Termination of Employment.

Appears in 1 contract

Samples: Performance Vested Restricted Stock Unit Award Agreement (M&t Bank Corp)

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