Forfeiture of Performance Stock Units. Unvested Units shall be forfeited, without the payment of any consideration therefor, immediately upon the earlier of (i) the Vesting Date, to the extent the performance-based vesting conditions have not been satisfied and the Performance Stock Units have not vested in accordance with Section 3, and (ii) subject to Section 3, the Participant’s Termination of Service. Upon forfeiture, all of the Participant’s rights with respect to the forfeited Unvested Units shall cease and terminate, without any further obligations on the part of the Company.
Appears in 5 contracts
Samples: Performance Stock Unit Award Agreement (Matador Resources Co), Performance Stock Unit Award Agreement (Matador Resources Co), Performance Stock Unit Award Agreement (Matador Resources Co)
