Common use of Forfeiture; Certain Terminations Clause in Contracts

Forfeiture; Certain Terminations. Except as provided in this paragraph, upon your termination of employment with the Company, all unvested Restricted Stock Units shall immediately be forfeited without compensation. Notwithstanding anything herein to the contrary, in the event that your employment with the Company is terminated as a result of your death, Disability (as defined in the Employment Agreement), non-renewal by the Company of the Term (as defined in the Employment Agreement), termination by the Company without Cause (as defined in the Employment Agreement), or your resignation with Good Reason (as defined in the Employment Agreement) (“Qualifying Termination”), subject to your timely execution, delivery, and non-revocation of a General Release (as defined in the Employment Agreement) as provided in Section 5(e) of the Employment Agreement, the Restricted Stock Units will immediately vest in full.

Appears in 2 contracts

Samples: Employment Agreement (Bed Bath & Beyond Inc), Restricted Stock Unit Agreement (Bed Bath & Beyond Inc)

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Forfeiture; Certain Terminations. Except as provided in this paragraph, upon your termination of employment with the Company, all unvested Restricted Stock Units shall immediately be forfeited without compensation. Notwithstanding anything herein to the contrary, in the event that prior to the first anniversary of the Grant Date, your employment with the Company is terminated as a result of your death, Disability (as defined in the Employment Agreement), non-renewal by the Company of the Term (as defined in the Employment Agreement), termination by the Company without Cause (as defined in the Employment Agreement), or your resignation with Good Reason (as defined in the Employment Agreement) (“Qualifying Termination”), subject to your timely execution, delivery, and non-revocation of a General Release (as defined in the Employment Agreement) as provided in Section 5(e5(c) of the Employment Agreement, the Restricted Stock Units will immediately vest in full.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Bed Bath & Beyond Inc), Restricted Stock Unit Agreement (Bed Bath & Beyond Inc)

Forfeiture; Certain Terminations. Except as provided in this paragraph, upon your termination of employment with the Company, all unvested Restricted Stock Units shall immediately be forfeited without compensation. Notwithstanding anything herein to the contrary, in the event that your employment with the Company is terminated as a result of your death, Disability (as defined in the Employment Agreement), non-renewal by the Company of the Term (as defined in the Employment Agreement), ) termination by the Company without Cause (as defined in the Employment Agreement), or your resignation with Good Reason (as defined in the Employment Agreement) (“Qualifying Termination”), subject to your timely execution, delivery, and non-revocation of a General Release (as defined in the Employment Agreement) as provided in Section 5(e5(c) of the Employment Agreement, the Restricted Stock Units will immediately vest in full.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Bed Bath & Beyond Inc), Restricted Stock Unit Agreement (Bed Bath & Beyond Inc)

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Forfeiture; Certain Terminations. Except as provided in this paragraph, upon your termination of employment with the Company, all unvested Restricted Stock Units shall immediately be forfeited without compensation. Notwithstanding anything herein to the contrary, in the event that your employment with the Company is terminated as a result of your death, Disability (as defined in the Employment Agreement), non-renewal by the Company of the Term (as defined in the Employment Agreement), termination by the Company without Cause (as defined in the Employment Agreement), or your resignation with Good Reason (as defined in the Employment Agreement) (“Qualifying Termination”), subject to your timely execution, delivery, and non-revocation of a General Release (as defined in the Employment Agreement) as provided in Section 5(e5(c) of the Employment Agreement, the Restricted Stock Units will immediately vest in full.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Bed Bath & Beyond Inc)

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