Forfeiture of Nonvested Shares. Except as provided herein, if Grantee's service with the Company ceases for any reason other than Grantee’s (a) death, (b) disability, (c) retirement, or (d) termination by the Company without Cause, any Nonvested Shares will be automatically forfeited to the Company.
Appears in 2 contracts
Samples: Restricted Shares Grant Agreement (Longhai Steel Inc.), Restricted Shares Grant Agreement (China Valves Technology, Inc)
Forfeiture of Nonvested Shares. Except as provided herein, if Grantee's service with the Company ceases for any reason other than Grantee’s (a) death, (b) disability, (c) retirement, or (d) termination by the Company without Cause, any Nonvested Shares will be automatically forfeited to the Company; provided, however, that the Company may cause any Nonvested Shares immediately to vest and become nonforfeitable if Grantee’s service with the Company is terminated by the Company without cause, as determined by the Company.
Appears in 2 contracts
Samples: Restricted Stock Grant Agreement (Pedevco Corp), Restricted Stock Grant Agreement (Pedevco Corp)
