Common use of Termination; Forfeiture Clause in Contracts

Termination; Forfeiture. (i) Except as provided in Section 5(d)(ii), the Participant shall forfeit to the Company, without compensation, any and all Shares of Restricted Stock that are not vested (but no vested portion of the Shares) and RS Property upon the Participant's Termination of Employment for any reason. (ii) If a Participant has entered into an employment agreement with the Company on or prior to the Grant Date that provides for partial or complete accelerated vesting on any Termination, the terms of such employment agreement shall control the vesting of the Restricted Stock on any such Termination.

Appears in 7 contracts

Samples: Restricted Stock Agreement (Steven Madden, Ltd.), Restricted Stock Agreement (Steven Madden, Ltd.), Restricted Stock Agreement (Steven Madden, Ltd.)

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