Forfeiture of Vested Units. Upon (i) a termination of employment for Cause, (ii) resignation by the Participant when grounds for Cause exist or (iii) if, following any termination of employment, the Participant commits a Covenant Breach, then all Vested Units and any Class A Units acquired pursuant to the conversion of Vested Units pursuant to Section 3.04(e) of the Partnership Agreement shall expire and immediately be forfeited and cancelled in their entirety without any consideration to the Participant.
Appears in 3 contracts
Samples: Incentive Unit Grant Agreement (Sovos Brands, Inc.), Incentive Unit Grant Agreement (Sovos Brands, Inc.), Incentive Unit Grant Agreement (Sovos Brands, Inc.)
Forfeiture of Vested Units. Upon (i) a termination of employment for Cause, (ii) resignation by the Participant when grounds for Cause exist or (iii) if, following any termination of employment, employment the Participant commits a Covenant Breach, then all Vested Units and any Class A Units acquired pursuant to the conversion of Vested Units pursuant to Section 3.04(e) of the Partnership Agreement shall expire and immediately be forfeited and cancelled in their entirety without any consideration to the Participant.
Appears in 1 contract
Samples: Incentive Unit Grant Agreement (Sovos Brands, Inc.)
