Forfeiture; Vesting. (a) If Employee's employment or consulting relationship with the Company is terminated for any reason, including, but not limited to, for cause, death, and disability, all unvested Shares shall be forfeited and shall be transferred to the Company; provided that as to Shares that would have vested at the end of the year of termination, such Shares shall vest on a prorated basis based on the number of days elapsed in such year and rounding down to the nearest Share.
Appears in 3 contracts
Samples: Restricted Stock Agreement (Pan Pacific Retail Properties Inc), Restricted Stock Agreement (Pan Pacific Retail Properties Inc), Restricted Stock Agreement (Pan Pacific Retail Properties Inc)
Forfeiture; Vesting. (a) If Employee's employment or consulting relationship with the Company is terminated for any reason, including, but not limited to, for cause, death, and disability, all unvested Shares as of the date of such termination shall immediately be forfeited and shall be transferred to the Company; provided that as to Shares that would have vested at the end of the year of termination, such Shares shall vest on a prorated basis based on the number of days elapsed in such year and rounding down to the nearest Share.
Appears in 1 contract
Samples: Restricted Stock Agreement (Pan Pacific Retail Properties Inc)
