Common use of Termination as Employee Clause in Contracts

Termination as Employee. If Participant ceases for any reason to be an employee of the Company (whether due to resignation, death, disability, termination for cause, termination without cause, or otherwise; such date of termination, the “Service Termination Date”)), the unvested Award Shares shall be forfeited immediately upon such Service Termination Date and the Participant shall have no further rights with respect thereto.

Appears in 5 contracts

Samples: Restricted Stock Award Agreement (Delta Petroleum Corp/Co), Restricted Stock Award Agreement (Delta Petroleum Corp/Co), Restricted Stock Award Agreement (Delta Petroleum Corp/Co)

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