Forfeiture of Units. If Participant’s employment or contractual relationship with the Company terminates for any reason, then Participant’s Units will be forfeited to the extent that they have not vested before the termination date and do not vest as a result of the termination. This means that the Units that have not already vested will immediately be cancelled. Participant will receive no payment for Units that are forfeited. Unless otherwise required by applicable law, the Company determines when Participant’s employment or contractual relationship with the Company terminates for this purpose.
Appears in 5 contracts
Samples: Restricted Stock Unit Agreement (Bsquare Corp /Wa), Restricted Stock Unit Agreement (Bsquare Corp /Wa), Restricted Stock Unit Agreement (Bsquare Corp /Wa)
Forfeiture of Units. If either (a) Units remain unvested as of the Expiration Date or (b) the Participant’s employment or contractual relationship with the Company terminates for any reason, then Participant’s Units will be forfeited to the extent that they have not vested before before, as applicable, the Expiration Date or the termination date and do not vest as a result of the termination. This means that the Units that have not already vested will immediately be cancelled. Participant will receive no payment for Units that are forfeited. Unless otherwise required by applicable law, the Company determines when Participant’s employment or contractual relationship with the Company terminates for this purpose.
Appears in 2 contracts
Samples: Performance Stock Unit Agreement (Bsquare Corp /Wa), Performance Stock Unit Agreement (Bsquare Corp /Wa)
