Common use of Forfeiture of Unvested RSUs Upon Cessation of Service Clause in Contracts

Forfeiture of Unvested RSUs Upon Cessation of Service. In the event that the Participant ceases to be an Eligible Participant (as defined below) for any reason or no reason, with or without cause, all of the RSUs that are unvested as of the time of such cessation shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Participant, effective as of such cessation. The Participant shall have no further rights with respect to the unvested RSUs or any Common Stock that may have been issuable with respect thereto. The Participant shall be an “Eligible Participant” if he or she is an employee, director or officer of, or consultant or advisor to, the Company or any other entity the employees, officers, directors, consultants or advisors of which are eligible to receive awards of RSUs under the Plan.

Appears in 12 contracts

Samples: Restricted Stock Unit Agreement (MEI Pharma, Inc.), Employment Agreement (Schrodinger, Inc.), Restricted Stock Unit Agreement (Solid Biosciences Inc.)

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Forfeiture of Unvested RSUs Upon Cessation of Service. In the event that the Participant ceases to be an Eligible Participant (as defined below) for any reason or no reason, with or without cause, all of the RSUs that are unvested as of the time of such cessation shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Participant, effective as of such cessation. The Participant shall have no further rights with respect to the unvested RSUs or any Common Stock that may have been issuable with respect thereto. The Participant shall be an “Eligible Participant” if he or she the individual is an employee, director or officer of, or consultant or advisor to, the Company or any other entity the employees, officers, directors, consultants or advisors of which are eligible to receive awards of RSUs under the Plan.

Appears in 5 contracts

Samples: Restricted Stock Unit Agreement (Ocular Therapeutix, Inc), Restricted Stock Unit Agreement (Ocular Therapeutix, Inc), Restricted Stock Unit Agreement (IMARA Inc.)

Forfeiture of Unvested RSUs Upon Cessation of Service. In the event that the Participant ceases to be an Eligible Participant (as defined below) for any reason or no reason, with or without cause, all of the RSUs that are unvested as of the time of such cessation shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Participant, effective as of such cessation. The Participant shall have no further rights with respect to the unvested RSUs or any Common Stock that may have been issuable with respect thereto. The Participant shall be an “Eligible Participant” if he or she is an employee, director or officer of, or consultant or advisor to, employee of the Company or any other entity the employees, officers, directors, consultants or advisors employees of which are eligible to receive awards of RSUs under the Plan.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Cue Health Inc.), Restricted Stock Unit Agreement (Cue Health Inc.)

Forfeiture of Unvested RSUs Upon Cessation of Service. In the event that the Participant ceases to be an Eligible Participant (as defined below) for any reason or no reason, with or without causeCause, all of the RSUs that are unvested as of the time of such cessation shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Participant, effective as of such cessation. The Participant shall have no further rights with respect to the unvested RSUs or any Common Stock that may have been issuable with respect thereto. The Participant shall be an “Eligible Participant” if he or she is an employee, director or officer of, or consultant or advisor to, any entity included in the definition of the Company or any other entity in the employeesPlan (each, officers, directors, consultants or advisors of which are eligible to receive awards of RSUs under the Plana “Specified Company”).

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (MICROSTRATEGY Inc)

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Forfeiture of Unvested RSUs Upon Cessation of Service. In the event that the Participant ceases to be an Eligible Participant (as defined below) for any reason or no reason, with or without cause, all of the RSUs that are unvested as of the time of such cessation shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Participant, effective as of such cessation. The Participant shall have no further rights with respect to the unvested RSUs or any Common Stock that may have been issuable with respect thereto. The Participant shall be an “Eligible Participant” if he or she the individual is an employee, director or officer of, or consultant or advisor to, of the Company or any other entity the employees, officers, directors, consultants or advisors of which directors are eligible to receive awards of RSUs under the Plan.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Fulcrum Therapeutics, Inc.)

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