Forfeiture Notice definition
Examples of Forfeiture Notice in a sentence
Notwithstanding any other provision of the Option, any portion of the Option that is vested (either in accordance with the normal vesting dates set forth in Section 2 or pursuant to an acceleration of vesting under Section 3) and is or becomes exercisable on or after the date on which Optionee receives the Forfeiture Notice shall remain exercisable for seven (7) days following the date on which Optionee receives the Forfeiture Notice (but in no event later than the Expiration Date).
If the Executive has transferred such shares in a transaction which is not a sale (including, for example, a gift to a family member or entity), the Profit Amount payable by Executive to Employer shall be an amount equal to the difference between the value of such shares on the date of the Forfeiture Notice and the exercise price.
If the Executive has transferred such shares in a transaction which is not a sale (including, for example, a gift to a family member or entity), the Profit Amount payable by Executive to the Company shall be an amount equal to the difference between the value of such shares on the date of the Forfeiture Notice and the exercise price.
Such Forfeiture Notice shall set out the Fixed Delivery Fee amounts that are forfeited.
MTVi shall forfeit to Beatnik the Unearned Shares no later than 20 days after such Forfeiture Notice is received by MTVi.
In the event Distributor fails to meet the Sales Requirements (each such failure, a "Triggering Event"), Supplier shall have the option to give Distributor notice ("Forfeiture Notice"), within thirty (30) days of the Triggering Event, of Distributor's forfeiture of its right to exclusively sell the Products in the Territory.
The Escrow Agent shall, within five (5) days following its receipt of a Forfeiture Notice, disburse to the Parent from the Escrow Fund a number of Escrow Shares equal to the Forfeited Shares designated on the Forfeiture Notice (or, if the Forfeited Shares shall be greater than the Escrow Shares remaining in the Escrow Fund, the balance of the Escrow Fund).
If Seller acknowledges in writing to the Escrow Agent its agreement with the Forfeiture Notice, or if Seller fails to deliver to the Escrow Agent and Parent a written notice objecting to the Forfeiture Notice within ten Business Days following delivery thereof by Parent, then the Escrow Agent shall, as promptly as reasonably practicable, disburse to Parent one or more Stock Certificates representing the Forfeited Stock, together with a Stock Power.
The certificates representing the Escrow Shares to be delivered in accordance with the Forfeiture Notice shall be duly endorsed by the Escrow Agent in blank or accompanied by stock powers duly executed by the Escrow Agent in blank, in each case, in form satisfactory to Buyer.
Within 5 days after the date on which TW shall have received the Forfeiture Notice, TW shall deliver to the Company certificates representing all of the Shares that are properly subject to forfeiture, duly endorsed (as to the correct number of shares) in blank or accompanied by a duly executed stock power, in proper form for transfer.