Example ContractsClausesterminationVariants
Termination
Termination contract clause examples

Termination. If the Grantee’s services with the Company, whether as a director, officer, employee or consultant, terminate for any reason before all of the Restricted Shares have vested in accordance with Section 2.1 of this Agreement, then the Restricted Shares which have not yet vested as of the date of such termination shall immediately be forfeited as of the date of such termination and returned to the Company by the Secretary for cancellation.

Termination. If the Grantee's services with the Company, whether as a director, officer, employee or consultant, terminate for any reason before all of the Restricted Shares have vested in accordance with Section 2.1 of this Agreement, then the Restricted Shares which have not yet vested as of the date of such termination shall immediately be forfeited as of the date of such termination and returned to the Company by the Secretary for cancellation.

Termination of Employment or Service. Except as otherwise set forth in Section 2(d), in the event that the Grantee’s employment with or service to the Company and all Subsidiaries is terminated prior to the lapsing of restrictions with respect to any portion of any Restricted Shares granted hereunder, or the vesting of any Additional Opportunity granted hereunder, such Restricted Shares then subject to restriction or unvested portions of the Additional Opportunity, as applicable, that are held by the Grantee shall be immediately forfeited as of the date of such cessation of employment or service.

Termination of Employment. If the Participant’s employment with the Company is terminated for any reason, the Restricted Shares shall, to the extent not then vested or previously forfeited, immediately become forfeited without any further action by the Company or the Participant, and without any payment of consideration therefor. Notwithstanding anything to the contrary in this Agreement, if Participant is a non-employee director of the Company, the terms “employed” or “employment” shall refer to Participant’s service on the Company’s board of directors and “termination of employment” shall refer to termination of such board service.

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