Common use of Settlement Upon Termination Clause in Contracts

Settlement Upon Termination. I hereby acknowledge and agree that if, prior to the settlement election date specified above (a) my service as a member of the Board is terminated for any reason (including, without limitation, as a result of my death or Disability) other than for cause under applicable law, any Vested Units will be settled following my termination date, and (b) my service as a member of the Board is terminated for cause under applicable law, all unsettled Units (including Vested Units) will be immediately forfeited.