Common use of Forfeiture of Unvested Shares Clause in Contracts

Forfeiture of Unvested Shares. In the event that the Recipient ceases to provide Service to the Company for any reason or no reason, with or without cause (“Termination”), all of the Shares that have not become Vested Shares as of the date of Termination in accordance with the vesting schedule set forth in Section 2 above (any such shares, “Unvested Shares”) and all rights therein shall immediately be transferred to the Company pursuant to Section 3 below, and as of the date of Termination the Recipient shall have no further rights with respect to such Shares; provided, however, in the event the Recipient ceases to provide Service to the Company by reason of death or Disability (as defined in the Plan), any Unvested Shares shall be immediately vested and no longer subject to restrictions on Transfer (as defined below) hereunder.

Appears in 1 contract

Samples: Restricted Stock Agreement (AstroNova, Inc.)

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Forfeiture of Unvested Shares. In the event that the Recipient ceases to provide Service to the Company for any reason or no reason, with or without cause (“Termination”), all of the Shares that have not become Vested Shares as of the date of Termination in accordance with the vesting schedule set forth in Section 2 above (any such shares, “Unvested Shares”) and all rights therein shall immediately be transferred to the Company pursuant to Section 3 below, and as of the date of Termination the Recipient shall have no further rights with respect to such Shares; provided, however, in the event the Recipient ceases to provide Service to the Company by reason of death or Disability (as defined in the Plan), any Unvested Shares shall be immediately vested and no longer subject to restrictions on Transfer (as defined below) hereunderthe Restricted Period shall immediately terminate.

Appears in 1 contract

Samples: Restricted Stock Agreement (AstroNova, Inc.)

Forfeiture of Unvested Shares. In the event that the Recipient ceases to provide Service to the Company for any reason or no reason, with or without cause (“Termination”), all of the Shares that have not become Vested Shares as of the date of Termination in accordance with the vesting schedule set forth in Section 2 above Exhibit A (any such shares, “Unvested Shares”) and all rights therein shall immediately be transferred to the Company pursuant to Section 3 belowExhibit A hereto, and as of the date of Termination the Recipient shall have no further rights with respect to such Shares; provided, however, in the event the Recipient ceases to provide Service to the Company by reason of death or Disability (as defined in the Plan), any Unvested Shares shall be immediately vested and no longer subject to restrictions on Transfer the Restricted Period (as defined belowin Exhibit A) hereundershall immediately terminate.

Appears in 1 contract

Samples: Restricted Stock Agreement (AstroNova, Inc.)

Forfeiture of Unvested Shares. In the event that the Recipient ceases to provide Service to serve as a member of the Company for any Board other than by reason of death or no reason, with or without cause Disability (“Termination”), all of the Shares that have not become Vested Shares as of the date of Termination in accordance with the vesting schedule set forth in Section 2 above (any such shares, “Unvested Shares”) and all rights therein shall immediately be transferred to the Company pursuant to Section 3 below, and as of the date of Termination the Recipient shall have no further rights with respect to such Shares; provided, however, in the event the Recipient ceases to provide Service to serve as a member of the Company Board by reason of death or Disability (as defined in the Plan), any Unvested Shares shall be immediately vested and no longer subject to restrictions on Transfer (as defined below) hereunder.

Appears in 1 contract

Samples: Restricted Stock Agreement (AstroNova, Inc.)

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Forfeiture of Unvested Shares. In the event that the Recipient ceases to provide Service to serve as a member of the Company for any Board other than by reason of death or no reason, with or without cause Disability (“Termination”), all of the Shares that have not become Vested Shares as of the date of Termination in accordance with the vesting schedule set forth in Section 2 above (any such shares, “Unvested Shares”) and all rights therein shall immediately be transferred to the Company pursuant to Section 3 below, and as of the date of Termination the Recipient shall have no further rights with respect to such Shares; provided, however, in the event the Recipient ceases to provide Service to serve as a member of the Company Board by reason of death or Disability (as defined in the Plan)) or a Change in Control of the Company occurs during the Recipient’s service as a member of the Board, any Unvested Shares shall be immediately vested and no longer subject to restrictions on Transfer (as defined below) hereunder.

Appears in 1 contract

Samples: Restricted Stock Agreement (AstroNova, Inc.)

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