Common use of All Unvested Option Shares Forfeited Upon Cessation of Service Clause in Contracts

All Unvested Option Shares Forfeited Upon Cessation of Service. Except as otherwise provided in an employment agreement, consulting agreement or other similar agreement by and between the Optionee and the Company (or an Affiliate thereof), upon a cessation of the Optionee’s service with the Company and its Affiliates, any unvested portion of the Option will immediately and automatically, without any action on the part of the Company, be forfeited and cancelled, and any vested portion of the Option will survive and remain exercisable only to the extent provided in Section 6 of the Plan.

Appears in 6 contracts

Samples: Non Qualified Stock Option Agreement (Collegium Pharmaceutical, Inc), Incentive Stock Option Agreement (Collegium Pharmaceutical, Inc), Incentive Stock Option Agreement (Bojangles', Inc.)

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All Unvested Option Shares Forfeited Upon Cessation of Service. Except as otherwise provided in an employment agreement, consulting agreement or other similar agreement by and between the Optionee and the Company (or an Affiliate thereof), upon a Upon cessation of the Optionee’s service with the Company for any reason or for no reason (and its Affiliateswhether such cessation is initiated by the Company, the Optionee or otherwise), any unvested portion of the Option that has not, on or prior to the effective date of such cessation, become vested will immediately and automatically, without any action on the part of the Company, be forfeited and cancelled, and any vested portion of the Option Optionee will survive and remain exercisable only have no further rights with respect to the extent provided in Section 6 of the Planthose Shares.

Appears in 3 contracts

Samples: Stock Option Agreement (Igi Laboratories, Inc), Stock Option Agreement (Igi Laboratories, Inc), Non Qualified Stock Option Agreement (Igi Inc)

All Unvested Option Shares Forfeited Upon Cessation of Service. Except for as otherwise provided in an employment agreement, consulting agreement or other similar agreement by and between the Optionee and the Company (or an Affiliate thereof)Section 5(c) below, upon a cessation of the Optionee’s service with the Company for any reason or for no reason (and its Affiliateswhether such cessation is initiated by the Company, the Optionee or otherwise), any unvested portion of the Option that has not, on or prior to the effective date of such cessation, become vested will immediately and automatically, without any action on the part of the Company, be forfeited and cancelled, and any vested portion of the Option Optionee will survive and remain exercisable only have no further rights with respect to the extent provided in Section 6 of the Planthose Shares.

Appears in 2 contracts

Samples: Non Qualified Stock Option Award Agreement (Igi Inc), Non Qualified Stock Option Award Agreement (Igi Inc)

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All Unvested Option Shares Forfeited Upon Cessation of Service. Except as otherwise provided in an employment agreement, consulting agreement or other similar agreement by and between the Optionee and the Company (or an Affiliate thereof)Section 5(c) below, upon a cessation of the Optionee’s service with the Company for any reason or for no reason (and its Affiliateswhether such cessation is initiated by the Company, the Optionee or otherwise), any unvested portion of the Option that has not, on or prior to the effective date of such cessation, become vested will immediately and automatically, without any action on the part of the Company, be forfeited and cancelled, and any vested portion of the Option Optionee will survive and remain exercisable only have no further rights with respect to the extent provided in Section 6 of the Planthose Shares.

Appears in 1 contract

Samples: Non Qualified Stock Option Award Agreement (Igi Inc)

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