Termination of Award Upon Failure to Meet Service Requirement Sample Clauses

Termination of Award Upon Failure to Meet Service Requirement. Upon failure by Grantee to meet the service requirement set forth in Section 4.1, all then outstanding Restricted Shares, together with the Dividend Account established pursuant to Section 7.1, will be forfeited by Grantee to PNC and cancelled without payment of any consideration by PNC, and neither Grantee nor any successors, heirs, assigns or legal representatives of Grantee will thereafter have any further rights or interest in the Restricted Shares or any certificate or certificates representing such shares or in the related dividends or Dividend Account.