Common use of Forfeiture of Unvested Shares Clause in Contracts

Forfeiture of Unvested Shares. (a) Notwithstanding any other provision of this Agreement, upon the earlier of (i) the termination of the Participant's employment with the Company for any reason or no reason, with or without cause, or upon death or disability, and (ii) the third anniversary of the Grant Date, all Unvested Shares (as defined below) shall, without further action of any kind by the Company, be forfeited to the Company as of the date of such termination of employment.

Forfeiture of Unvested Shares. (a) Notwithstanding any other provision of this Agreement, upon the earlier of (i) the termination of the Participant's ’s employment with the Company for any reason or no reason, with or without cause, or upon death or disability, and (ii) the third anniversary of the Grant Date, all Unvested Shares (as defined below) shall, without further action of any kind by the Company, be forfeited to the Company as of the date of such termination of employmentemployment or the third anniversary of the Grant Date, as the case may be.