Common use of Termination of Service without Cause Clause in Contracts

Termination of Service without Cause. Upon a termination of the Participant’s Service by the Company or one of its successors or Affiliates without Cause that occurs: (i) at any time prior to the Vesting Date, then the Award shall be settled in accordance with Section 3 above in respect of the number of RSUs that would have been earned pursuant to this Agreement based on actual performance during the full Performance Period, notwithstanding the termination of the Participant’s Service, multiplied by a fraction, the numerator of which is the number of days from the Date of Grant through and including the date of termination of Service, and the denominator of which is 1,825, except that notwithstanding Section 2(b), such RSUs shall be fully vested and settled on the Settlement Date next following the end of the full Performance Period, subject to the applicable limitations set forth in Section 3 above; and (ii) after the Vesting Date and prior to the final Settlement Date, then the Award shall be settled in accordance with Section 3 above, in respect of the number of then-outstanding Earned RSUs that would have vested on the Vesting Date coincident with or next following such termination of Service, except that notwithstanding Section 2(b), such Earned RSUs shall be fully vested and settled within sixty (60) days following such termination of Service, subject to the applicable limitations set forth in Section 3 above.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Dave & Buster's Entertainment, Inc.), Restricted Stock Unit Award Agreement (Dave & Buster's Entertainment, Inc.)

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Termination of Service without Cause. Upon a termination of the Participant’s Service by the Company or one of its successors or Affiliates without Cause that occurs: (i) at any time prior to the Vesting Dateexpiration of the Performance Period, then the Award shall be settled in accordance with Section 3 above in respect of the number of RSUs that would have been earned pursuant to this Agreement based on actual performance during the full Performance Period, notwithstanding the termination of the Participant’s Service, multiplied by a fraction, the numerator of which is the number of days from in the Date of Grant Performance Period through and including the date of termination of Service, and the denominator of which is 1,8251,095, except that notwithstanding Section 2(b), such RSUs shall be fully vested and settled on the Settlement Date next following the end such termination of the full Performance PeriodService, subject to the applicable limitations set forth in Section 3 above; and (ii) after the Vesting Date expiration of the Performance Period and prior to the final Settlement Date, then the Award shall be settled in accordance with Section 3 above, in respect of the number of then-outstanding Earned RSUs that would have vested on the Vesting Date coincident with or next following such termination of Service, multiplied by a fraction, the numerator of which is the number of days elapsed after the Date of Grant through and including the date of termination of Service, and the denominator of which is 365, except that notwithstanding Section 2(b), such Earned RSUs shall be fully vested and settled within sixty thirty (6030) days following such termination of Service, subject to the applicable limitations set forth in Section 3 above.. D&B Team Member - [●]

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Dave & Buster's Entertainment, Inc.)

Termination of Service without Cause. Upon a termination of the Participant’s Service by the Company or one of its successors or Affiliates without Cause that occurs: (i) at any time prior to the Vesting Dateexpiration of the Performance Period, then the Award shall be settled in accordance with Section 3 above in respect of the number of RSUs MSUs that would have been earned pursuant to this Agreement based on actual performance during the full Performance Period, notwithstanding the termination of the Participant’s Service, multiplied by a fraction, the numerator of which is the number of days from in the Date of Grant Performance Period through and including the date of termination of Service, and the denominator of which is 1,8251,095, except that notwithstanding Section 2(b), such RSUs MSUs shall be fully vested and settled on the Settlement Date next following the end such termination of the full Performance PeriodService, subject to the applicable limitations set forth in Section 3 above; and (ii) after the Vesting Date expiration of the Performance Period and prior to the final Settlement Date, then the Award shall be settled in accordance with Section 3 above, in respect of the number of then-outstanding Earned RSUs MSUs that would have vested on the Vesting Date coincident with or next following such termination of Service, multiplied by a fraction, the numerator of which is the number of days elapsed after the Date of Grant through and including the date of termination of Service, and the denominator of which is 1,095, except that notwithstanding Section 2(b), such Earned RSUs MSUs shall be fully vested and settled within sixty thirty (6030) days following such termination of Service, subject to the applicable limitations set forth in Section 3 above.

Appears in 1 contract

Samples: Market Stock Unit Award Agreement (Dave & Buster's Entertainment, Inc.)

Termination of Service without Cause. Upon a termination of the Participant’s Service by the Company or one of its successors or Affiliates without Cause that occurs: (i) at any time prior to the Vesting Date, then the Award shall be settled in accordance with Section 3 above in respect of the number of RSUs that would have been earned pursuant to this Agreement based on actual performance during the full Performance Period, notwithstanding the termination of the Participant’s Service, multiplied by a fraction, the numerator of which is the number of days from the Date of Grant through and including the date of termination of Service, and the denominator of which is 1,8251,095, except that notwithstanding Section 2(b), such RSUs shall be fully vested and settled on the Settlement Date next following the end such termination of the full Performance PeriodService, subject to the applicable limitations set forth in Section 3 above; and (ii) after the Vesting Date and prior to the final Settlement Date, then the Award shall be settled in accordance with Section 3 above, in respect of the number of then-outstanding Earned RSUs that would have vested on the Vesting Date coincident with or next following such termination of Service, except that notwithstanding Section 2(b), such Earned RSUs shall be fully vested and settled within sixty thirty (6030) days following such termination of Service, subject to the applicable limitations set forth in Section 3 above.. D&B Team Member - [●]

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Dave & Buster's Entertainment, Inc.)

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Termination of Service without Cause. Upon a termination of the Participant’s Service by the Company or one of its successors or Affiliates without Cause that occurs: (i) at any time prior to the Vesting Dateexpiration of the Performance Period, then the Award shall be settled in accordance with Section 3 above in respect of the number of RSUs that would have been earned pursuant to this Agreement based on actual performance during the full Performance Period, notwithstanding the termination of the Participant’s Service, multiplied by a fraction, the numerator of which is the number of days from in the Date of Grant Performance Period through and including the date of termination of Service, and the denominator of which is 1,8251,095, except that notwithstanding Section 2(b), such RSUs shall be fully vested and settled on the Settlement Date next following the end such termination of the full Performance PeriodService, subject to the applicable limitations set forth in Section 3 above; and (ii) after the Vesting Date expiration of the Performance Period and prior to the final Settlement Date, then the Award shall be settled in accordance with Section 3 above, in respect of the number of then-outstanding Earned RSUs that would have vested on the Vesting Date coincident with or next following such termination of Service, multiplied by a fraction, the numerator of which is the number of days elapsed after the Date of Grant through and including the date of termination of Service, and the denominator of which is 365, except that notwithstanding Section 2(b), such Earned RSUs shall be fully vested and settled within sixty thirty (6030) days following such termination of Service, subject to the applicable limitations set forth in Section 3 above.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (Dave & Buster's Entertainment, Inc.)

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