Common use of Forfeiture of PSUs on Termination Clause in Contracts

Forfeiture of PSUs on Termination. If the Recipient’s employment with the Company or any of its subsidiaries is terminated for cause as determined in the sole discretion of the Board or any committee of the Board, all outstanding but unvested PSUs awarded pursuant to this Agreement shall be immediately and automatically forfeited to the Company, and the Recipient shall have no right to receive the underlying Shares.

Appears in 2 contracts

Samples: Performance Share Unit Award Agreement (JELD-WEN Holding, Inc.), Performance Share Unit Award Agreement (JELD-WEN Holding, Inc.)

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Forfeiture of PSUs on Termination. If the Recipient’s employment with the Company or any of its subsidiaries is terminated for cause as determined in the sole discretion of the Board or any committee of the Board, all outstanding but unvested PSUs awarded pursuant to this Agreement shall be immediately and automatically forfeited to the Company, and the Recipient shall have no right to receive the underlying Shares.. Exhibit 10.28

Appears in 1 contract

Samples: Performance Share Unit Award Agreement (JELD-WEN Holding, Inc.)

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Forfeiture of PSUs on Termination. If Except as otherwise provided in a written agreement, if the Recipient’s employment with the Company or any of its subsidiaries is terminated for cause as determined in any reason prior to the sole discretion of the Board or any committee of the BoardVesting Date, all outstanding but unvested PSUs awarded pursuant to this Agreement shall be immediately and automatically forfeited to the Company, and the Recipient shall have no right to receive the underlying Shares.

Appears in 1 contract

Samples: Performance Share Unit Award Agreement (JELD-WEN Holding, Inc.)

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