General Termination of Employment Provisions; Breach of Restrictive Covenants Agreement. (a) All vesting of Class B Profits Interest Units will cease immediately upon a Participant no longer being employed by the Employer for any reason other than due to termination by the Employer without Cause or resignation by the Participant for Good Reason, and in such case all unvested Class B Profits Interest Units will be automatically canceled without consideration and forfeited on such date. Notwithstanding the foregoing, in the event a Participant’s employment terminates for Cause, all Class B Profits Interest Units (vested or unvested) will be immediately cancelled and forfeited without consideration.
Appears in 7 contracts
Samples: Profits Interest Unit Award Agreement (Candela Medical, Inc.), Profits Interest Unit Award Agreement (Candela Medical, Inc.), Profits Interest Unit Award Agreement (Candela Medical, Inc.)
