Forfeiture Restrictions Contract Clauses (29)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Forfeiture Restrictions clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Forfeiture Restrictions. In the event of the termination of the Employee's employment with the Company Entities for any reason or no reason whatsoever, the Employee shall upon such termination automatically forfeit to the Company, for no consideration, every Phantom Unit (and the DER granted in tandem with such Phantom Unit and accumulated but unpaid distributions with respect to such DER) that has not both previously become an Earned Phantom Unit in accordance with Section 4 and settled in accordance with Section 5. Th...e Employee's rights with respect to the Phantom Units and the DERs granted in tandem with such Phantom Units shall remain forfeitable at all times prior to the date on which such rights both are earned in accordance with Section 4 and are settled in accordance with Section 5. View More
Found in CSI Compressco LP contract
Forfeiture Restrictions. In the event of the termination of the Employee's employment with the Company Entities for any reason or no reason whatsoever, the Employee shall upon such termination automatically forfeit to the Company, for no consideration, every Phantom Unit (and the DER granted in tandem with such Phantom Unit and accumulated but unpaid distributions with respect to such DER) that has not both previously become an Earned a Vested Phantom Unit in accordance with Section 4. and settled in accordance with Sec...tion 5. The Employee's rights with respect to the Phantom Units and the any DERs granted in tandem with such Phantom Units shall remain forfeitable at all times prior to the date on which such rights both are earned vest and the forfeiture restrictions with respect to the Phantom Units lapse in accordance with Section 4. and are settled in accordance with Section 5. View More
Found in CSI Compressco LP contract
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