General Forfeiture Clause Samples
The General Forfeiture clause establishes the conditions under which a party may lose certain rights, benefits, or property due to a breach or failure to fulfill contractual obligations. Typically, this clause outlines specific actions or omissions—such as non-payment, violation of terms, or failure to deliver goods—that trigger the forfeiture, and it may detail the process by which the forfeiture is enforced. Its core practical function is to incentivize compliance with the contract by imposing tangible consequences for non-performance, thereby protecting the interests of the non-breaching party.
General Forfeiture. To the extent the Employee fails to satisfy the vesting conditions of Section 3 of this Agreement, the Employee’s unvested RSUs shall be forfeited.
General Forfeiture. To the extent the Employee fails to satisfy the vesting conditions of Section 2 of this Agreement, the Employee’s Options shall be forfeited.
General Forfeiture. To the extent the Employee fails to satisfy the vesting conditions of Section 3 of this Agreement, the Employee’s Performance Share Units shall be forfeited.