Forfeiture of Restricted LTIP Units. If the Director’s service as a non-employee director of the Company terminates for any reason prior to the expiration of the Vesting Period except as provided in Schedule A, the Restricted LTIP Units shall be forfeited and returned to the Company for delivery to the Partnership and cancellation.
Appears in 3 contracts
Samples: Restricted Ltip Unit Agreement, Restricted Ltip Unit Agreement (Clipper Realty Inc.), Restricted Ltip Unit Agreement
Forfeiture of Restricted LTIP Units. If the Director’s service as a non-employee director employment of the Employee by the Company or an affiliate terminates for any reason prior to the expiration of the Vesting Period except as provided in Schedule A, the Restricted LTIP Units shall be forfeited and returned to the Company for delivery to the Partnership and cancellation.
Appears in 1 contract
Samples: Restricted Ltip Unit Agreement (Clipper Realty Inc.)
