Forfeiture or Repayment Resulting from Forfeiture Event Contract Clauses (36)
Grouped Into 1 Collection of Similar Clauses From Business Contracts
This page contains Forfeiture or Repayment Resulting from Forfeiture Event clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Forfeiture or Repayment Resulting from Forfeiture Event. (a) If there is a Forfeiture Event either during the Participant's Employment or within two years after termination of the Participant's Employment, then the Committee may, but is not obligated to, cause all of the Participant's unvested Restricted Shares to be forfeited by the Participant and returned to the Corporation. (b) If there is a Forfeiture Event either during the Participant's Employment or within two years after termination of the Participant's Employment, then with respect to Restri...cted Shares granted under this Award Agreement that have vested, the Committee may, but is not obligated to, require that the Participant pay to the Corporation an amount (the "Forfeiture Amount") up to (but not in excess of) the lesser of (i) the value of such previously vested Restricted Shares as of the date such shares vested or (ii) the value of such previously vested Restricted Shares as of the date on which the Committee makes a demand for payment of the Forfeiture Amount. Any Forfeiture Amount shall be paid by the Participant within sixty (60) days of receipt from the Corporation of written notice requiring payment of such Forfeiture Amount. 2 (c) This Paragraph 4 shall apply notwithstanding any provision of this Award Agreement to the contrary and is meant to provide the Corporation with rights in addition to any other remedy which may exist in law or in equity. This Paragraph 4 shall not apply to the Participant following the effective time of a Change in Control. (d) Notwithstanding the foregoing or any other provision of this Award Agreement to the contrary, the Participant agrees that the Corporation may also require that the Participant repay to the Corporation any compensation paid to the Participant under this Award Agreement, as is required by the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations thereunder or any other "clawback" provisions as required by law or by the applicable listing standards of the exchange on which the Common Stock is listed for trading.View More
Forfeiture or Repayment Resulting from Forfeiture Event. (a) Forfeiture of Unexercised Option. If there is a Forfeiture Event either occurs during the Participant's Optionee's Employment or within two three years after following Optionee's termination of the Participant's Employment, then the Committee may, but is not obligated to, cause all or any portion of the Participant's unvested Restricted Shares to be forfeited by the Participant and returned to the Corporation. (b) If there is a Forfeiture Event either during the Participant's Employment or w...ithin two years after termination of the Participant's Employment, then with respect to Restricted Shares Option granted under this Award Agreement that have vested, to be forfeited. (b) Repayment of Spread on Exercised Option. If a Forfeiture Event occurs during the Optionee's Employment or within three years following Optionee's termination of Employment, the Committee may, but is not obligated to, require that the Participant Optionee to pay to the Corporation an amount (the "Forfeiture Amount") in cash up to (but not in excess of) the lesser of (i) difference between the value of such previously vested Restricted Shares as Grant Price and market price of the date such shares vested or (ii) the value of such previously vested Restricted Shares as of Option on the date on of exercise with respect to any shares for which the Committee makes a demand for payment of the Forfeiture Amount. Option has been exercised (the "Forfeited Spread Amount"). Any Forfeiture Forfeited Spread Amount shall be paid by the Participant within sixty (60) days of receipt from the Corporation of written notice requiring payment of such Forfeited Spread Amount. (c) Application of Forfeiture Amount. 2 (c) Provisions. This Paragraph 4 Section 5 shall apply notwithstanding any provision of this Award Agreement to the contrary and is meant to provide the Corporation with rights in addition to any other remedy which may exist in law or in equity. This Paragraph 4 Section 5 shall not apply to the Participant Optionee following the effective time of a Change in Control. (d) Notwithstanding the foregoing or any other provision of this Award Agreement to the contrary, the Participant agrees that the Corporation may also require that the Participant repay to the Corporation any compensation paid to the Participant under this Award Agreement, as is required by the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations thereunder or any other "clawback" provisions as required by law or by the applicable listing standards of the exchange on which the Common Stock is listed for trading.View More
Forfeiture or Repayment Resulting from Forfeiture Event. (a) Forfeiture of Unexercised Option. If there is a Forfeiture Event either (as defined herein) occurs during the Participant's Employment or within two years after following Participant's termination of the Participant's Employment, then the Committee may, but is not obligated to, cause all of the Participant's unvested Restricted Shares Option granted under this Award Agreement to be forfeited by the Participant and returned with respect to some or all shares of Common Stock subject to the Cor...poration. Option. (b) Repayment of Spread on Exercised Option. If there is a Forfeiture Event either occurs during the Participant's Employment or within two years after following Participant's termination of the Participant's Employment, then with respect to Restricted Shares granted under this Award Agreement that have vested, the Committee may, but is not obligated to, require that the Participant to pay to the Corporation an amount (the "Forfeiture Amount") up to (but not in excess of) the lesser of (i) difference between the value of such previously vested Restricted Shares as Grant Price and market price of the date such shares vested or (ii) the value of such previously vested Restricted Shares as of Option on the date on of exercise with respect to any shares for which the Committee makes a demand for payment of the Forfeiture Amount. Option has been exercised (the "Forfeited Spread Amount"). Any Forfeiture Forfeited Spread Amount shall be paid by the Participant within sixty (60) 60 days of receipt from the Corporation of written notice requiring payment of such Forfeited Spread Amount. (c) Application of Forfeiture Amount. 2 (c) Provisions. This Paragraph 4 7 shall apply notwithstanding any provision of this Award Agreement to the contrary and is meant to provide the Corporation with rights in addition to any other remedy which may exist in law or in equity. This Paragraph 4 7 shall not apply to the Participant following the effective time of a Change in Control. (d) Notwithstanding the foregoing or any other provision of this Award Agreement to the contrary, the Participant agrees that the Corporation may also require that the Participant repay to the Corporation any compensation paid to the Participant under this Award Agreement, as is required by the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations thereunder or any other "clawback" provisions as required by law or by the applicable listing standards of the exchange on which the Common Stock is listed for trading. View More
Forfeiture or Repayment Resulting from Forfeiture Event. 2 (a) If there is a Forfeiture Event either during the Participant's Employment or within two years after termination of the Participant's Employment, then the Committee Board may, but is not obligated to, cause all of the Participant's unvested Restricted Shares Phantom Units to be forfeited by the Participant and returned to the Corporation. Company. (b) If there is a Forfeiture Event either during the Participant's Employment or within two years after termination of the Participant's Employme...nt, then with respect to Restricted Shares Phantom Units granted under this Award Agreement that have vested, the Committee Board may, but is not obligated to, require that the Participant pay to the Corporation Company an amount (the "Forfeiture Amount") up to (but not in excess of) the lesser of (i) the value of such previously vested Restricted Shares Phantom Units as of the date such shares Phantom Units vested or (ii) the value of such previously vested Restricted Shares Phantom Units as of the date on which the Committee Board makes a demand for payment of the Forfeiture Amount. Any Forfeiture Amount shall be paid by the Participant within sixty (60) days of receipt from the Corporation Company of written notice requiring payment of such Forfeiture Amount. 2 (c) This Paragraph 4 6 shall apply notwithstanding any provision of this Award Agreement to the contrary and is meant to provide the Corporation Company with rights in addition to any other remedy which may exist in law or in equity. This Paragraph 4 6 shall not apply to the Participant following the effective time of a Change in Control. (d) Notwithstanding the foregoing or any other provision of this Award Agreement to the contrary, the Participant agrees that the Corporation Company may also require that the Participant repay to the Corporation Company any compensation paid to the Participant under this Award Agreement, as is required by the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations thereunder or any other "clawback" provisions as required by law or by the applicable listing standards of the exchange on which the Common Stock is Units of the Partnership are listed for trading. View More
