Common use of Separation from Service for Cause Clause in Contracts

Separation from Service for Cause. In the event of the Grantee’s Separation from Service for Cause, all the vested (to the extent not already paid by the Company) and non-vested Phantom Shares then outstanding as of the Separation from Service date shall immediately expire, terminate and become forfeited, and shall not be paid or become exercisable to any extent. No further action is needed to effectuate the forfeiture of all the Grantee’s Phantom Shares due to a termination for Cause.