Common use of Deemed Liquidation Event Clause in Contracts

Deemed Liquidation Event. Notwithstanding anything contained herein to the contrary, in the event of a Deemed Liquidation Event (as such term may be defined in the Certificate of Incorporation of the Company, as such may be amended), or in the event of any “Sale Event”, “Change in Control” or other like definition contained in the Company’s then current stock option plan (i.e., the option plan from which the Company is then granting options or other equity awards) if such Certificate of Incorporation does not contain the defined term “Deemed Liquidation Event”), any and all Restricted Shares will automatically vest and become “Unrestricted Shares” immediately prior to such Deemed Liquidation Event (or Sale Event, Change in Control, etc.), if the Founder is a Company Person immediately prior to such Deemed Liquidation Event (or Sale Event, Change in Control, etc.).

Deemed Liquidation Event. Notwithstanding anything contained herein to the contrary, in the event of a Deemed Liquidation Event (as such term may be defined in the Certificate of Incorporation of the Company, as such may be amended), or in the event of any “Sale Event”, “Change in Control” or other like definition contained in the Company’s then current stock option plan (i.e., the option plan from which the Company is then granting options or other equity awards) if such Certificate of Incorporation does not contain the defined term “Deemed Liquidation Event”), any and all Restricted Shares will automatically vest and become “Unrestricted Shares” immediately prior to such Deemed Liquidation Event (or Sale Event, Change in Control, etc.), if the Founder or Consultant is a Company Person immediately prior to such Deemed Liquidation Event (or Sale Event, Change in Control, etc.).