Common use of Forfeiture of Forfeitable Shares Clause in Contracts

Forfeiture of Forfeitable Shares. The Grantee’s rights in all Forfeitable Shares shall terminate automatically on the date of the Grantee’s termination of employment, and the Company may thereupon cancel the certificate or certificates representing such Forfeitable Shares on its books. In the event that the certificates then being retained by the Company under this Agreement also represent other shares of Common Stock not being forfeited to the Company, the Company shall issue to the Grantee replacement certificates for such other shares.

Forfeiture of Forfeitable Shares. The Grantee’s rights in all Forfeitable Shares shall terminate automatically on the date of the termination of the Grantee’s termination of employmentengagement under the Consulting Agreement, and the Company may thereupon cancel the certificate certificate, certificates, or certificates book entry representing such Forfeitable Shares on its books. In the event that the certificates or book entry then being retained by the Company or its transfer agent under this Agreement also represent other shares of Common Stock not being forfeited to the Company, the Company shall issue to the Grantee replacement certificates or new book entries for such other shares.

Forfeiture of Forfeitable Shares. The Grantee’s 's rights in all Forfeitable Shares shall terminate automatically on the date of the Grantee’s 's termination of employmentservice as a Director of the Company, and the Company may thereupon cancel the certificate or certificates representing such Forfeitable Shares on its books. In the event that the certificates then being retained held by the Company under this Agreement also represent other shares of Common Stock not being forfeited to the CompanyRetainable Shares as well as Forfeitable Shares, the Company shall issue to the Grantee a replacement certificates certificate for such other sharesRetainable Shares.

Forfeiture of Forfeitable Shares. The Grantee’s 's rights in all Forfeitable Shares shall terminate automatically on the date of the Grantee’s 's termination of employment, and the Company may thereupon cancel the certificate or certificates representing such Forfeitable Shares on its books. In the event that the certificates then being retained held by the Company under this Agreement also represent other shares of Common Stock not being forfeited to the CompanyRetainable Shares as well as Forfeitable Shares, the Company shall issue to the Grantee a replacement certificates certificate for such other sharesRetainable Shares.