Forfeiture of Units. In the event that the Participant’s Service is terminated by the Service Recipient for Cause, insofar as permitted under Local Law the Participant shall forfeit, and the Company shall automatically reacquire, all Units (whether vested or unvested), and the Participant shall not be entitled to any payment therefor.
Appears in 5 contracts
Samples: Performance Based Restricted Stock Units Agreement (MAGNACHIP SEMICONDUCTOR Corp), Restricted Stock Units Agreement (MAGNACHIP SEMICONDUCTOR Corp), Restricted Stock Units Agreement (MAGNACHIP SEMICONDUCTOR Corp)
Forfeiture of Units. In the event that the Participant’s Service with a Participating Company is terminated by the Service Recipient Participating Company for Cause, insofar as permitted under Local Law the Participant shall forfeit, forfeit and the Company shall automatically reacquire, reacquire all Units (whether vested or unvested), and the Participant shall not be entitled to any payment therefor.
Appears in 5 contracts
Samples: Restricted Stock Units Agreement (MAGNACHIP SEMICONDUCTOR Corp), Restricted Stock Units Agreement (MAGNACHIP SEMICONDUCTOR Corp), Performance Based Restricted Stock Units Agreement (MAGNACHIP SEMICONDUCTOR Corp)
Forfeiture of Units. In Except to the extent expressly provided otherwise in an agreement between the Participant and the Company, in the event that the Participant’s Service is terminated by the Service Recipient terminates for Causeany reason or no reason, with or without cause, insofar as permitted under Local Law the Participant shall forfeit, forfeit and the Company shall automatically reacquire, reacquire all Units (whether vested or unvested)which are not, as of the time of such termination, Vested Units, and the Participant shall not be entitled to any payment therefor.
Appears in 2 contracts
Samples: Restricted Stock Units Agreement (MAGNACHIP SEMICONDUCTOR Corp), Restricted Stock Units Agreement (MAGNACHIP SEMICONDUCTOR Corp)
