Common use of Forfeiture of Forfeitable Shares Clause in Contracts

Forfeiture of Forfeitable Shares. The Participant’s rights in all Forfeitable Units shall terminate automatically on the date of the Participant’s termination of employment for reasons other than on account of the Participant’s death, Disability or an Involuntary Termination following a Change in Control or Involuntary Termination within 36 months of a Merger of Equals, and the Company may thereupon cancel the certificate or certificates representing such Forfeitable Units on its books.

Appears in 6 contracts

Samples: Restricted Stock Unit Agreement (Northfield Bancorp, Inc.), Restricted Stock Unit Agreement (Northfield Bancorp, Inc.), Restricted Stock Unit Agreement (Northfield Bancorp, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!