Common use of Forfeiture Upon Termination as a Service Provider Clause in Contracts

Forfeiture Upon Termination as a Service Provider. Unless specifically provided otherwise in this Award Agreement or other written agreement authorized by the Administrator between Participant and the Company or any of its Subsidiaries or Parents, as applicable, governing the terms of this Award, if Participant ceases to be a Service Provider for any or no reason, the then-unvested Restricted Stock Units awarded by this Award Agreement will thereupon be forfeited at no cost to the Company and Participant will have no further rights thereunder. Participant’s status as a Service Provider will be considered terminated (regardless of the reason for such termination and whether or not later found to be invalid or in breach of labor laws in the jurisdiction where Participant is rendering services or the terms of Participant’s employment or service agreement, if any) effective as of the date Participant is no longer actively providing services to the Company or, if different, the Parent or Subsidiary that employs Participant (the “Employer”) and will not be extended by any notice period (e.g., Participant’s status as a Service Provider would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or providing services or the terms of Participant’s employment or service agreement, if any). The Administrator shall have the exclusive discretion to determine when Participant is no longer a Service Provider (including whether Participant may still be considered to be providing services while on an approved leave of absence).

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Ambarella Inc), Restricted Stock Unit Agreement (Ambarella Inc)

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Forfeiture Upon Termination as a Service Provider. Unless specifically provided otherwise in Notwithstanding any contrary provision of this Award Agreement or other written agreement authorized by the Administrator between Participant and the Company or any of its Subsidiaries or Parents, as applicable, governing the terms of this AwardAgreement, if Participant ceases to be a Service Provider for any or no reason, the then-unvested Restricted Stock Units awarded by this Award Agreement will thereupon be forfeited at no cost to the Company and Participant will have no further rights thereunder. For purposes of the Restricted Stock Units, Participant’s 's status as a Service Provider will be considered deemed terminated as of the date Participant is no longer actively providing services to the Company, a Parent, Subsidiary or Affiliate (regardless of the reason for such termination and whether or not later found to be invalid or in breach of labor employment laws in the jurisdiction where Participant is rendering services providing service or the terms of Participant’s 's employment or service agreement, if any) effective as of the and such date Participant is no longer actively providing services to the Company or, if different, the Parent or Subsidiary that employs Participant (the “Employer”) and will not be extended by any notice period (e.g., Participant’s status as a Service Provider 's period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is employed or providing services service or the terms of Participant’s 's employment or service agreement, if any). The Administrator shall have the exclusive discretion to determine when Participant is no longer a Service Provider actively providing services for purposes of the Restricted Stock Units (including whether Participant may still be considered to be providing services while on an approved a leave of absence).

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Lyft, Inc.)

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Forfeiture Upon Termination as a Service Provider. Unless specifically provided otherwise in Notwithstanding any contrary provision of this Award Agreement or other written agreement authorized by the Administrator between Participant and the Company or any Notice of its Subsidiaries or Parents, as applicable, governing the terms of this AwardGrant, if Participant ceases to be the Employee terminates service as a Service Provider for any or no reasonreason prior to vesting, the then-unvested Restricted Stock Units RSUs awarded by this Award Agreement will thereupon be forfeited at no cost to the Company and Participant will have no further rights thereunderCompany. Participant’s status as a For purposes of the RSUs, the Service Provider Provider's service will be considered terminated as of the date that the Service Provider is no longer providing services to the Company or one of its Subsidiaries (regardless of the reason for such termination and whether or not later found to be found invalid or in breach of labor employment laws in the jurisdiction where Participant the Employee is rendering services employed or the terms of Participantthe Employee’s employment or service agreement, if any) effective ), and unless otherwise expressly provided in this Agreement or determined by the Company, the Service Provider’s right to vest in the RSUs under the Plan, if any, will terminate as of the such date Participant is no longer actively providing services to the Company or, if different, the Parent or Subsidiary that employs Participant (the “Employer”) and will not be extended by any notice period (e.g., Participant’s status as a Service Provider the Employee's period of service would not include any contractual notice period or any period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant the Employee is employed or providing services or the terms of Participantthe Employee’s employment or service agreement, if any). The Administrator ; the Company shall have the exclusive discretion to determine when Participant the Service Provider is no longer a Service Provider providing services for purposes of the RSUs (including whether Participant the Service Provider may still be considered to be providing services while on an approved a leave of absence).

Appears in 1 contract

Samples: Global Restricted Stock Unit Agreement (Coherent Inc)

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