I know I'll be shouted down for this, but I think the Company would have every right to keep its own contributions if a person was genuinely found guilty of gross misconduct.
Just who decides what is gross misconduct?
There lies the whole question.
If this is unilaterally in the company's esteem, with no unbiased legal recourse, then you are completely wrong to defend the whole thing.
Now you can pretend that this is not the case, that we could go to court with a fair chance, then i repeat what i said on another thread:
You are simply naive.