Common use of Service Adjustments Clause in Contracts

Service Adjustments. The Shares subject to the Award, whether converted or unconverted, shall be forfeited to the Company if the employment of the Employee by the Company or an Affiliate is terminated for cause, as set forth herein. If such termination occurs prior to completion of 180 full working days of continuous employment service, Employee shall forfeit one hundred percent (100%) of the Shares, whether converted or unconverted. If such termination occurs after completion of 180 full working days of continuous employment service, but prior to completion of 270 full working days of continuous employment service, Employee shall forfeit an amount of Shares, whether converted or unconverted, equal to 8/9 of the total Award amount, prorated on the basis of a 30 day month. Thereafter, for each 30 day period, or portion thereof on a 30 day prorated basis, of complete full working days of continuous employment service, Employee shall forfeit an amount of shares reduced by an amount equal to 1/9 of the total Award amount, so that upon completion of 540 full working days of continuous employment, none of the Shares, whether converted or unconverted, pursuant to the Award shall be subject to forfeiture. All prorations shall be made on the basis of a 30 day month and a 360 day year.