Common use of Forfeiture of Performance Vesting Units and Time Vesting Units Clause in Contracts

Forfeiture of Performance Vesting Units and Time Vesting Units. (a) Upon Termination of Employment (x) for any reason, all Time Vesting Units that have not vested in accordance with Section 2.3 hereof as of the end of the termination date and that are held by the Management Securityholder shall expire and be immediately forfeited and canceled in their entirety without any consideration to the Management Securityholder, (y) for any reason other than a Termination of Employment effected by the Partnership or one of its Subsidiaries for Cause, all Performance Vesting Units shall remain outstanding solely to the extent required by Section 2.3(f) (and shall be forfeited and cancelled in their entirety following such time as Section 2.3(f) is no longer applicable thereto, if not vested in accordance with Section 2.3(f)), or (z) effected by the Partnership or one of its Subsidiaries for Cause, all Performance Vesting Units that have not vested in accordance with Section 2.3 shall expire and be immediately forfeited and canceled in their entirety without any consideration to the Management Securityholder. (b) If, following Termination of Employment, the Management Securityholder materially breaches his noncompetition and nonsolicitation obligations under the Employment Agreement, then all Vested Class B Units shall expire and be immediately forfeited and cancelled in their entirety without any consideration to the Management Securityholder.

Forfeiture of Performance Vesting Units and Time Vesting Units. (a) Upon Termination of Employment (x) for any reason, all Time Vesting Units that have not vested in accordance with Section 2.3 hereof as of the end of the termination date and that are held by the Management Securityholder shall expire and be immediately forfeited and canceled in their entirety without any consideration to the Management Securityholder, (y) for any reason other than a Termination of Employment effected by the Partnership or one of its Subsidiaries for Cause, all Performance Vesting Units shall remain outstanding solely to the extent required by Section 2.3(f) (and shall be forfeited and cancelled in their entirety following such time as Section 2.3(f) is no longer applicable thereto, if not vested in accordance with Section 2.3(f)), or (z) effected by the Partnership or one of its Subsidiaries for Cause, all Performance Vesting Units that have not vested in accordance with Section 2.3 shall expire and be immediately forfeited and canceled in their entirety without any consideration to the Management Securityholder. (b) If, following Termination of Employment, the Management Securityholder materially breaches his her noncompetition and nonsolicitation obligations under the Employment Agreement, then all Vested Class B Units shall expire and be immediately forfeited and cancelled in their entirety without any consideration to the Management Securityholder.