Service Restriction. The Restricted Stock Units shall be forfeited and transferred to the Company upon the Participant’s termination of employment with the Company and its Subsidiaries, for any reason prior to the “Vesting Dates” stated in the Notice. In the event a Participant’s status changes among the positions of Employee, Director and Independent Contractor, any such change in status shall not constitute a “termination of employment” for purposes of earning, vesting, forfeiture or otherwise.
Appears in 3 contracts
Samples: Key Employee Restricted Stock Unit Grant Agreement (Central Pacific Financial Corp), Restricted Stock Unit Grant Agreement (Central Pacific Financial Corp), Restricted Stock Unit Agreement (Central Pacific Financial Corp)
Service Restriction. The Restricted Stock Units shall be forfeited and transferred to the Company canceled without issuance of any Shares upon the Participant’s termination of employment with the Company and its Subsidiaries, for any reason prior to the their respective “Vesting Dates” stated in the Notice. In the event a Participant’s status changes among the positions of Employee, Director and Independent Contractor, any such change in status shall not constitute a “termination of employment” for purposes of earning, vesting, forfeiture or otherwise.
Appears in 1 contract
Samples: Key Employee Restricted Stock Unit Grant Agreement (Central Pacific Financial Corp)
