Common use of Forfeiture, Termination and Cancellation upon Termination of Service Clause in Contracts

Forfeiture, Termination and Cancellation upon Termination of Service. Notwithstanding any contrary provision of this Agreement, upon Participant’s Termination of Service for any or no reason, all then unvested RSUs subject to this Agreement will thereupon be automatically forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and Participant, or Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder.

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (National Semiconductor Corp), Restricted Stock Unit Agreement (National Semiconductor Corp), Restricted Stock Unit Agreement (National Semiconductor Corp)

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Forfeiture, Termination and Cancellation upon Termination of Service. Notwithstanding any contrary provision of this Agreement, upon Upon Participant’s Termination of Service for any or no reason, all then the then-unvested RSUs subject to this Agreement (after giving effect to any accelerated vesting pursuant to Section 2.4 hereof) will thereupon be automatically forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Companytherefor, and the Participant, or Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder.

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (Spirit Airlines, Inc.), Employment Agreement (Spirit Airlines, Inc.), Restricted Stock Unit Award Agreement (Spirit Airlines, Inc.)

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Forfeiture, Termination and Cancellation upon Termination of Service. Notwithstanding any contrary provision of this Agreement, upon Upon Participant’s Termination of Service for any or no reason, all then the then-unvested RSUs subject to this Agreement (after giving effect to any accelerated vesting pursuant to Section 2.4) will thereupon be automatically forfeited, terminated and cancelled as of the applicable termination date without payment of any consideration by the Company, and Participant, or Participant’s beneficiary or personal representative, as the case may be, shall have no further rights hereunder.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Avago Technologies LTD)

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