Common use of Voluntary or Involuntary Termination Clause in Contracts

Voluntary or Involuntary Termination. Except as otherwise provided in this Section 1.4, if Recipient’s employment with the Company or any Subsidiary terminates as a result of a voluntary or involuntary termination, all outstanding unvested RSUs (whether or not determined to be Earned RSUs) shall immediately be forfeited. Recipient shall not be treated as terminating employment if Recipient is on an approved leave of absence.

Appears in 11 contracts

Samples: Restricted Stock Unit Agreement (Lithia Motors Inc), Restricted Stock Unit Agreement (Lithia Motors Inc), Restricted Stock Unit Agreement (Lithia Motors Inc)

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Voluntary or Involuntary Termination. Except as otherwise provided in this Section 1.4, if Recipient’s employment with the Company or any Subsidiary terminates as a result of a voluntary or involuntary termination, all outstanding unvested RSUs (whether or not determined to be Earned RSUs) shall immediately be forfeited. Recipient shall not be treated as terminating employment if Recipient is on an approved leave of absence.

Appears in 8 contracts

Samples: Restricted Stock Unit Agreement (Lithia Motors Inc), Restricted Stock Unit Agreement (Lithia Motors Inc), Restricted Stock Unit Agreement (Lithia Motors Inc)

Voluntary or Involuntary Termination. Except as otherwise provided in this Section 1.4, if Recipient’s employment with the Company or any Subsidiary terminates as a result of a voluntary or involuntary termination, all outstanding unvested RSUs (whether or not determined to be Earned RSUs) shall immediately be forfeited. Recipient shall not be treated as terminating employment if Recipient is on an approved leave of absence.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Lithia Motors Inc)

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Voluntary or Involuntary Termination. Except as otherwise provided in this Section 1.4, if Recipient’s employment with the Company or any Subsidiary terminates as a result of a voluntary or involuntary termination, all outstanding unvested RSUs (whether or not determined to be Earned RSUs) shall immediately be forfeited. Recipient shall not be treated as terminating employment if Recipient is on an approved leave of absence.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Lithia Motors Inc)

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