Common use of Forfeiture of Unvested Shares Clause in Contracts

Forfeiture of Unvested Shares. Until a share of Restricted Stock vests, the Participant shall not transfer the Participant's rights to such share of Restricted Stock or any rights related thereto. Any attempt to transfer such unvested shares or any rights related thereto, whether by transfer, pledge, hypothecation or otherwise and whether voluntary or involuntary, by operation of law or otherwise, shall not vest the transferee with any interest or right in or with respect to such shares of Restricted Stock or such related rights, but immediately upon any such attempt, the portion of the Grant represented by such shares of Restricted Stock and any related rights shall be forfeited by the Participant, and the transfer shall be of no force or effect.

Forfeiture of Unvested Shares. Until a share of Restricted Stock vests, the Participant shall not transfer the Participant's rights to such share of Restricted Stock or to any rights related thereto. Any attempt to transfer such unvested shares or any rights related thereto, whether by transfer, pledge, hypothecation or otherwise and whether voluntary or involuntary, by operation of law or otherwise, shall not vest the transferee with any interest or right in or with respect to such shares of Restricted Stock or such related rights, but immediately upon any such attempt, the portion of the Grant represented by such shares of Restricted Stock and any related rights shall be forfeited by the Participant, and the transfer shall be of no force or effect.