Forfeiture on Termination of Employment. If Participant’s employment with the Corporation or Subsidiary is terminated for any reason, either by the Corporation or Participant, during the term of this Agreement, any Restricted Stock Units remaining subject to the restrictions imposed by this Agreement shall be forfeited; provided, however, that in the event of termination by reason of death, permanent total disability, or voluntary termination at or after normal retirement age (age 65), any remaining restrictions automatically shall lapse.
Appears in 3 contracts
Samples: Restricted Stock Unit and Stock Option Agreement (Helios Technologies, Inc.), Restricted Stock Unit Agreement (Helios Technologies, Inc.), Restricted Stock Unit Agreement (Helios Technologies, Inc.)
Forfeiture on Termination of Employment. If the Participant’s employment with the Corporation or Subsidiary is terminated for any reason, either by the Corporation or Participant, during the term of this Agreement, any Restricted Stock Units Shares remaining subject to the restrictions imposed by this Agreement shall be forfeited; provided, however, that in the event of termination by reason of death, permanent total disability, or voluntary termination retirement at or after normal retirement age (age 65)age, any remaining restrictions automatically shall lapse.
Appears in 2 contracts
Samples: Restricted Share Agreement (Sun Hydraulics Corp), Restricted Share Agreement (Sun Hydraulics Corp)
