Common use of Other Terminations of Service Clause in Contracts

Other Terminations of Service. Subject to the forfeiture conditions in Section 5, in the event that the Participant’s Services terminate other than as provided under Section 6(a), the Profits Interests for which the Service Condition has been satisfied (after taking into account the satisfaction of any portion of the Service Condition provided for under Sections 4(a) and (b) above), but for which the applicable Stock Price Condition has not been satisfied, will remain outstanding and eligible to become Fully Vested if the applicable Stock Price Condition is achieved. Any Profits Interests that do not become and cease to be eligible to become Fully Vested will be forfeited to the Company without payment of any consideration therefor. To the extent that any Profits Interests are forfeited pursuant to this Section 6, the Participant, together with the Participant’s executors, administrators, heirs, successors or assigns, shall cease to have any further rights, title or interests in or to such forfeited Profits Interests, including any allocations or distributions in respect thereof, pursuant to this Agreement or the LLC Agreement as of the date of such forfeiture.

Appears in 3 contracts

Samples: Restricted Profits Interest Award Agreement (GS Acquisition Holdings Corp II), Restricted Profits Interest Award Agreement (GS Acquisition Holdings Corp II), Restricted Profits Interest Award Agreement (GS Acquisition Holdings Corp II)

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