Common use of Risk of Forfeiture Clause in Contracts

Risk of Forfeiture. The Covered Shares shall be subject to a risk of forfeiture until such time the risk of forfeiture lapses in accordance with the Vesting Schedule. All or any portion of the Covered Shares subject to a risk of forfeiture shall automatically be forfeited and immediately returned to the Company at any time the Participant fails to provide continuous service as a Service Provider to either the Company or an Affiliate.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Forbes Energy Services Ltd.), Restricted Stock Award Agreement (Forbes Energy Services Ltd.)

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Risk of Forfeiture. The Covered Shares shall be subject to a risk of forfeiture until such time the risk of forfeiture lapses in accordance with the Vesting Schedule. All or any portion of the Covered Shares subject to a risk of forfeiture shall automatically be forfeited and immediately returned to the Company at any time the Participant fails to provide if Executive's continuous service as a Service Provider to either employment with the Company or an Affiliateas its President and Chief Executive Officer is terminated for any reason.

Appears in 1 contract

Samples: Employment Agreement (Expressjet Holdings Inc)

Risk of Forfeiture. The Covered Shares shall be subject to a risk of forfeiture until such time the risk of forfeiture lapses in accordance with the Vesting Schedule. All or any portion of the Covered Shares subject to a risk of forfeiture shall automatically be forfeited and immediately returned to the Company at any time the Participant fails to provide if Executive’s continuous service as a Service Provider to either employment with the Company or an Affiliateas its President and Chief Executive Officer is terminated for any reason.

Appears in 1 contract

Samples: Stand Alone Restricted Stock Award Agreement (Expressjet Holdings Inc)

Risk of Forfeiture. The Covered Shares shall be subject to a risk of forfeiture until such time the risk of forfeiture lapses in accordance with the Vesting Schedule. All or any portion of the Covered Shares subject to a risk of forfeiture shall immediately and automatically be forfeited and immediately returned to terminated upon the Company at any time first day the Participant fails to provide continuous service to the Company as a Service Provider to either Provider, and the Company shall make no payment to the Participant, cash or an Affiliateotherwise, for any unvested Covered Shares that are forfeited.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Applied Optoelectronics, Inc.)

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Risk of Forfeiture. The Covered Shares shall be subject to a risk of forfeiture until such time the risk of forfeiture lapses in accordance with the Vesting Schedule. All or any portion of the Covered Shares subject to a risk of forfeiture shall automatically be forfeited and immediately returned to the Company at any time the Participant fails to provide if Participant's continuous service status as a Service Provider Director is interrupted or terminated for any reason other than as permitted under the Plan. The Company shall implement any forfeiture under this Section 2 in a unilateral manner, without Participant's consent, and with no payment to either Participant, cash or otherwise, for the Company or an Affiliateforfeited Covered Shares.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Powell Industries Inc)

Risk of Forfeiture. The Covered Shares shall be subject to a risk of forfeiture until such time the risk of forfeiture lapses in accordance with the Vesting Schedule. All or any portion of the Covered Shares subject to a risk of forfeiture shall automatically be forfeited and immediately returned to the Company at any time if the Participant fails to provide Participant's continuous service with the Company as a Service Provider to either Non-Employee Director is interrupted or terminated for any reason other than as permitted under the Company or an AffiliatePlan.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Basic Energy Services Inc)

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