Forfeiture of Option. (a) Notwithstanding any other provision of this Agreement, if, at any time during the employment or service of the Participant or during the 12-month period following termination of employment or service (regardless of whether such termination was by the Company or the Participant, and whether voluntary or involuntary or with or without Cause or Good Reason), the Participant engages in a Prohibited Activity (as defined herein), then the Option shall immediately be terminated (to the extent not otherwise already terminated) and all of Participant’s rights under this Agreement shall be forfeited in their entirety.
Appears in 3 contracts
Samples: Stock Option Agreement (Atlantic Capital Bancshares, Inc.), Stock Option Agreement (Atlantic Capital Bancshares, Inc.), Employment Agreement (Atlantic Capital Bancshares, Inc.)
Forfeiture of Option. (a) Notwithstanding any other provision of this Agreement, if, at any time during the employment or service of the Participant or during the 12-month period following termination of employment or service (regardless of whether such termination was by the Company Corporation or the Participant, and whether voluntary or involuntary or with or without Cause or Good Reasoninvoluntary), the Participant engages in a Prohibited Activity (as defined herein), then the Option shall immediately be terminated (to the extent not otherwise already terminated) and all of Participant’s rights under this Agreement shall be forfeited in their entirety.
Appears in 2 contracts
Samples: Stock Option Agreement (Atlantic Capital Bancshares, Inc.), Xenith Bankshares, Inc.
