Common use of For Cause; Without Good Reason Clause in Contracts

For Cause; Without Good Reason. In the event that the Participant’s employment with the Company is terminated by the Company for Cause or by the Participant without Good Reason prior to the Vesting Date, all shares of Restricted Stock, together with any property received in respect of such shares, as set forth in Section 9 hereof, shall be forfeited as of the date of such termination of employment and the Participant promptly shall return to the Company any certificates evidencing such shares, together with any cash dividends or other property received in respect of such shares.

Appears in 4 contracts

Samples: Restricted Stock Grant Agreement (General Maritime Corp/), Restricted Stock Grant Agreement (General Maritime Corp/), Restricted Stock Grant Agreement (General Maritime Corp/)

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For Cause; Without Good Reason. In the event that the Participant’s employment with the Company is terminated by the Company for Cause or by the Participant without Good Reason prior to the Vesting Date, all shares of Restricted Stock, together with any property received in respect of such shares, as set forth in shares held by the custodian pursuant to Section 9 hereof, shall be forfeited as of the date of such termination of employment and the Participant promptly shall return to the Company any certificates evidencing such shares, together with any cash dividends or other property received in respect of such shares.

Appears in 2 contracts

Samples: Restricted Stock Grant Agreement (General Maritime Corp/), Restricted Stock Grant Agreement (General Maritime Corp/)

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For Cause; Without Good Reason. In the event that the Participant’s employment with the Company is terminated by the Company for Cause or by the Participant without Good Reason prior to the Vesting Date, all shares of Restricted Stock, together with any property received in respect of such shares, subject to and as set forth in Section 9 hereof, shall be forfeited as of the date of such termination of employment and the Participant promptly shall return to the Company any certificates evidencing such shares, together with any cash dividends or other property received in respect of such shares.

Appears in 1 contract

Samples: Restricted Stock Grant Agreement (General Maritime Corp/)

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