Common use of Employment Requirement; Forfeiture Clause in Contracts

Employment Requirement; Forfeiture. With express exceptions (death or Disability of a Participant, or the Termination of Employment of a Participant during the 24-month period following a Change in Control), the Plan provides that upon a Termination of Employment for any reason, all Award Shares that have not become vested pursuant to Section 3.2 as of the date of termination will be forfeited automatically and without further action by Bancorp or Participant and returned to Bancorp with no payment to Participant.

Employment Requirement; Forfeiture. With express exceptions Except as otherwise expressly provided in the Plan (with respect to death or Disability of a Participant, or the Termination of Employment of a Participant during the 24-month period following a Change in Control), the Plan provides that upon a Termination of Employment for any reason, all Award Shares that have not become vested pursuant to Section 3.2 as of the date of termination will be forfeited automatically and without further action by Bancorp or Participant and returned to Bancorp with no payment to Participant.

Employment Requirement; Forfeiture. With express exceptions (death or Disability of a Participant, or the Termination of Employment of a Participant during the 24-month period following a Change in Control), the Plan provides that upon a Termination of Employment for any reason, all Award Shares that have not become vested pursuant to Section 3.2 as of the date of termination will be forfeited automatically and without further action by Bancorp or Participant and returned to Bancorp with no payment to Participant.