Forfeiture Rights definition

Forfeiture Rights means the right of any Governmental Authority or other Person to require the forfeiture of the property of a Person.
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Forfeiture Rights has the meaning assigned in Section 5.12.
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Forfeiture Rights has the meaning assigned in Section 5.12. “Funds” means the Replacement Escrow Fund.
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Examples of Forfeiture Rights in a sentence

  • If the Company shall distribute to its stockholders securities of another corporation, the securities of such other corporation, distributed with respect to the Restricted Units then subject to the restrictions contained in this Agreement, shall be added to the Restricted Units subject to the Company's Forfeiture Rights.

  • If the Company shall pay a stock dividend or declare a stock split on or with respect to any of its Common Stock, or otherwise distribute securities of the Company to the holders of its Common Stock, the number of Restricted Units subject to this award shall be adjusted to correspond to the change in the outstanding shares of Common Stock, subject to the Company's Forfeiture Rights.

  • Executive agrees to remit estimated taxes to the Company prior to and as a condition of the receipt of the Restricted Shares or the lapse of any Forfeiture Rights becoming effective.

  • Director agrees to remit estimated taxes to the Company prior to and as a condition of the receipt of the Restricted Shares or the lapse of any Forfeiture Rights becoming effective.

  • The Forfeiture Rights will be deemed to be exercised effective immediately upon the Company’s mailing written notice of such exercise postage prepaid, addressed to the Optionee at the Optionee’s most recent home address as shown on the personnel records of the Company.

  • The decision to exercise the Company’s Forfeiture Rights under this Section 13 will be based solely on the judgment of the Committee, in its sole and complete discretion, given the facts and circumstances of each particular case.

  • The Forfeiture Rights may be exercised by the Committee within 90 days after the Committee’s discovery of an occurrence that entitles it to exercise its Forfeiture Rights (but in no event later than 15 months after the Optionee’s termination of employment with the Company or its Affiliates).

  • In the event that the Director dies, or an event of Disability takes place, or a Change in Control shall have occurred prior to the Vesting Date, the Director (or his or her beneficiary) shall be immediately 100% vested in all of the Restricted Units granted hereunder and all of the Company's forfeiture rights under Section 2(b) above (the "Company's Forfeiture Rights") in such Restricted Units shall terminate and be of no further force and effect.

  • If the Company shall distribute to its stockholders securities of another corporation, the securities of such other corporation then being so distributed to the Employee with respect to the Shares of the Restricted Stock Award, that are subject to the restrictions contained in this Agreement, shall be added to the Shares subject to the Company's Forfeiture Rights.

  • The provisions of this Section 3 shall automatically terminate, and the Shares shall not be subject to the Forfeiture Rights (and thus shall become Vested Shares), in accordance with Section 2(b) above.

Related to Forfeiture Rights

  • Forfeiture Restrictions means any prohibitions and restrictions set forth herein with respect to the sale or other disposition of Shares issued to the Recipient hereunder and the obligation to forfeit and surrender such shares to the Company.

  • Forfeiture Period means the period from the Grant Date until the Forfeiture Date.

  • Restricted Shares shall have the respective meanings set forth in Section 2.14.

  • Forfeiture means that portion of a Participant's Account that is not Vested, and occurs on the earlier of:

  • Vesting mean that the Units have become non-forfeitable. If Employee has a Termination of Employment prior to the Stated Vesting Date and the Units are not otherwise deemed vested by that date, the Units will be immediately forfeited except as otherwise provided in Section 4 of the Terms and Conditions.

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Non-Vested Shares means any portion of the Restricted Stock subject to this Agreement that has not become vested pursuant to this Section 2.

  • Forfeited means the Insured’s financial Loss of any whole or prorated prepaid

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Award Shares means Shares covered by an outstanding Award or purchased under an Award.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • RSUs means restricted stock units.

  • Forfeiture Event means the occurrence of at least one of the following (a) the Corporation is required, pursuant to a determination made by the Securities and Exchange Commission or by the Audit Committee of the Board, to prepare a material accounting restatement due to the noncompliance of the Corporation with any financial reporting requirement under applicable securities laws as a result of misconduct, and the Committee determines that (1) the Participant knowingly engaged in the misconduct, (2) the Participant was grossly negligent with respect to such misconduct or (3) the Participant knowingly or grossly negligently failed to prevent the misconduct or (b) the Committee concludes that the Participant engaged in fraud, embezzlement or other similar misconduct materially detrimental to the Corporation.

  • Unvested Shares means "Unvested Shares" as defined in the Award Agreement.

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Restricted Stock means Shares issued pursuant to a Restricted Stock award under Section 7 of the Plan, or issued pursuant to the early exercise of an Option.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Restricted Share Award means an award of Restricted Shares.

  • Restricted Stock Award means an award of shares of Common Stock which is granted pursuant to the terms and conditions of Section 6(a).

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Restricted Share Unit Award means a right to receive Ordinary Shares which is granted pursuant to the terms and conditions of Section 6(b).

  • Phantom Shares means an Award of the right to receive Shares issued at the end of a Restricted Period which is granted pursuant to Section 6(e) of the Plan.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.