Common use of Forfeiture of Compensation Clause in Contracts

Forfeiture of Compensation. In the event Executive breaches any of the non-disclosure or restrictive covenant provisions of Sections 8 or 9 of this Agreement following termination of employment, Executive immediately shall (a) forfeit his right to receive (and the Company shall no longer be obligated to pay) any severance compensation under this Agreement, (b) forfeit any stock options, stock appreciation rights or other rights granted under any equity incentive compensation plans of the Company, regardless whether such options or rights are vested, unvested, exercisable or unexercisable, (c) disgorge and repay to the Company any gross profits realized from the exercise within the two (2) year period immediately preceding such termination of any Company stock options or stock appreciation rights and other rights that were granted during the four (4) year period immediately preceding such termination, (d) disgorge and repay to the Company an amount equal to the current market value of any restricted stock or other full value equity awards which were granted to Executive within the four (4) year period immediately preceding such termination and vested to Executive during the two (2) year period immediately preceding such termination and (e) repay to the Company any cash incentive or bonus payments paid to Executive within the two (2) year period immediately preceding such termination. The Company and Executive acknowledge and agree that the foregoing remedies are in addition to, and not in lieu of, any and all other legal and/or equitable remedies that may be available to Company in connection with Executive’s breach or threatened breach, of any non-disclosure or restrictive covenant provision set forth in Sections 8 and 9 of this Agreement.

Forfeiture of Compensation. In the event Executive breaches any of the non-non disclosure or restrictive covenant provisions of Sections 8 or 9 of this Agreement following termination of employmentAgreement, Executive immediately shall (a) forfeit his right to receive (and the Company shall no longer be obligated to pay) any severance compensation under this Agreement, (b) forfeit any stock options, stock appreciation rights equity incentive or other rights granted under the INVESTORS COMMUNITY BANK 2012 EQUITY COMPENSATION PLAN AND INVESTORS COMMUNITY BANK ANNUAL INCENTIVE COMPENSATION PLAN and any other equity and/or incentive compensation plans of the Company, regardless whether such options or rights are vested, unvested, exercisable or unexercisable, (c) disgorge and repay to the Company any gross profits realized from the exercise within of any of the stock options under the INVESTORS COMMUNITY BANK 2012 EQUITY COMPENSATION PLAN and any other stock option or equity compensation plans of the Company at any time during the two (2) year period immediately preceding such termination of any Company stock options or stock appreciation rights breach, and other rights that were granted during the four (4) year period immediately preceding such termination, (d) disgorge and repay to the Company an amount equal to the current market value of any restricted stock or other full value equity awards which were granted to Executive within of the four (4) year period immediately preceding such termination and Company that vested to Executive at any time during the two (2) year period immediately preceding such termination and (e) repay to the Company any cash incentive or bonus payments paid to Executive within the two (2) year period immediately preceding such terminationbreach. The Company and Executive acknowledge and agree that the foregoing remedies are in addition to, and not in lieu of, any and all other legal and/or equitable remedies that may be available to Company in connection with Executive’s breach or threatened breach, of any non-disclosure or restrictive covenant provision set forth in Sections 8 and 9 of this Agreement.

Forfeiture of Compensation. In the event Executive breaches any of the non-disclosure or restrictive covenant provisions of Sections 8 or 9 of this Agreement following termination of employmentAgreement, Executive immediately shall (a) forfeit his right to receive (and the Company shall no longer be obligated to pay) any severance compensation under this Agreement, (b) forfeit any the stock options, stock appreciation rights or options and/or other rights granted under the National City Bancshares, Inc. 1999 Stock Option and Incentive Plan, the Integra Bank Corporation 2003 Stock Option and Incentive Plan and any other stock option or equity incentive compensation plans of the Company, regardless whether such options or rights are vested, unvested, exercisable or unexercisable, (c) disgorge and repay to the Company any gross profits realized from the exercise within of any of the stock options under the National City Bancshares, Inc. 1999 Stock Option and Incentive Plan, the Integra Bank Corporation 2003 Stock Option and Incentive Plan and any other stock option or equity compensation plans of the Company at any time during the two (2) year period immediately preceding such termination of any Company stock options or stock appreciation rights breach, and other rights that were granted during the four (4) year period immediately preceding such termination, (d) disgorge and repay to the Company an amount equal to the current market value of any restricted stock or other full value equity awards which were granted to Executive within of the four (4) year period immediately preceding such termination and Company that vested to Executive at any time during the two (2) year period immediately preceding such termination and (e) repay to the Company any cash incentive or bonus payments paid to Executive within the two (2) year period immediately preceding such terminationbreach. The Company and Executive acknowledge and agree that the foregoing remedies are in addition to, and not in lieu of, any and all other legal and/or equitable remedies that may be available to Company in connection with Executive’s 's breach or threatened breach, of any non-disclosure or restrictive covenant provision set forth in Sections 8 and 9 of this Agreement.

Forfeiture of Compensation. In the event Executive breaches any of the non-disclosure or restrictive covenant provisions of Sections 8 or 9 of this Agreement following termination of employment, Executive immediately shall (a) forfeit his right to receive (and the Company shall no longer be obligated to pay) any severance compensation under this Agreement, (b) forfeit any stock options, stock appreciation rights options or other rights granted under any stock option or equity incentive compensation plans of the Company, regardless whether such options or rights are vested, unvested, exercisable or unexercisable, (c) disgorge and repay to the Company any gross profits realized from the exercise within the two (2) year period immediately preceding such termination of any Company stock options granted under any stock option or stock appreciation rights and other rights that were granted equity compensation plans of the Company during the four (4) year period immediately preceding such termination, (d) disgorge and repay to the Company an amount equal to the current market value of any restricted stock or other full value equity awards which were of the Company that was granted to Executive within the four (4) year period immediately preceding such termination and vested to Executive during the two (2) year period immediately preceding such termination and (e) repay to the Company any cash incentive or bonus payments paid to Executive within the two (2) year period immediately preceding such termination. The Company and Executive acknowledge and agree that the foregoing remedies are in addition to, and not in lieu of, any and all other legal and/or equitable remedies that may be available to Company in connection with Executive’s breach or threatened breach, of any non-disclosure or restrictive covenant provision set forth in Sections 8 and 9 of this Agreement.

Forfeiture of Compensation. In the event Executive breaches any of the non-non disclosure or restrictive covenant provisions of Sections 8 or 9 of this Agreement following termination of employmentAgreement, Executive immediately shall (a) forfeit his right to receive (and the Company shall no longer be obligated to pay) any severance compensation under this Agreement, (b) forfeit any stock options, stock appreciation rights equity incentive plan or other rights granted under the INVESTORS COMMUNITY BANK 2012 EQUITY COMPENSATION PLAN AND INVESTORS COMMUNITY BANK ANNUAL INCENTIVE COMPENSATION PLAN and any other equity and/or incentive compensation plans of the Company, regardless whether such options or rights are vested, unvested, exercisable or unexercisable, (c) disgorge and repay to the Company any gross profits realized from the exercise within of any of the stock options under the INVESTORS COMMUNITY BANK 2012 EQUITY COMPENSATION PLAN and any other stock option or equity compensation plans of the Company at any time during the two (2) year period immediately preceding such termination of any Company stock options or stock appreciation rights breach, and other rights that were granted during the four (4) year period immediately preceding such termination, (d) disgorge and repay to the Company an amount equal to the current market value of any restricted stock or other full value equity awards which were granted to Executive within of the four (4) year period immediately preceding such termination and Company that vested to Executive at any time during the two (2) year period immediately preceding such termination and (e) repay to the Company any cash incentive or bonus payments paid to Executive within the two (2) year period immediately preceding such terminationbreach. The Company and Executive acknowledge and agree that the foregoing remedies are in addition to, and not in lieu of, any and all other legal and/or equitable remedies that may be available to Company in connection with Executive’s breach or threatened breach, of any non-disclosure or restrictive covenant provision set forth in Sections 8 and 9 of this Agreement.