Common use of Forfeiture Restriction Clause in Contracts

Forfeiture Restriction. (a) Subject to Section 1.3, Section 2.2(b) and Section 2.2(d), if the Participant ceases to be an employee of the Company or any Subsidiary for any reason, all of the unvested shares of Restricted Stock shall thereupon, without any further action by the Company, be forfeited immediately and released from the Forfeiture Restriction. Upon the occurrence of such forfeiture, the Company shall become the legal and beneficial owner of such forfeited shares and all rights and interests therein or relating thereto and the Company shall have the right to retain and transfer such shares to its own name.

Forfeiture Restriction. (a) Subject to the provisions of Section 1.3, Section 2.2(b3(b) and Section 2.2(d)8 below, if the Participant ceases to be an employee Employee, director or consultant of the Company or any and each Subsidiary for any or no reason, all of the unvested shares of Restricted Stock Unreleased Shares shall thereupon, thereupon be forfeited immediately and without any further action by the Company, be forfeited immediately and released from Company (the “Forfeiture Restriction”). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of such the Shares being forfeited shares and all rights and interests therein or relating thereto thereto, and the Company shall have the right to retain and transfer such shares to its own namename the number of Shares being forfeited by the Participant.

Forfeiture Restriction. (a) Subject to Section 1.3, Section 2.2(bthe provisions of Sections 3(b) and Section 2.2(d)3(d) below, if the Participant ceases to be an employee Employee, director or consultant of the Company or any and each Subsidiary for any or no reason, all of the unvested shares of Restricted Stock Unreleased Shares shall thereupon, thereupon be forfeited immediately and without any further action by the Company, be forfeited immediately and released from Company (the "Forfeiture Restriction"). Upon the occurrence of such a forfeiture, the Company shall become the legal and beneficial owner of such the Shares being forfeited shares and all rights and interests therein or relating thereto thereto, and the Company shall have the right to retain and transfer such shares to its own namename the number of Shares being forfeited by the Participant.

Forfeiture Restriction. (ae) Subject to Section 1.31.3(a) or (b), Section 2.2(b) and Section 2.2(d), if the Participant Recipient ceases to be an employee employee, director or consultant of the Company or any Subsidiary for any reason, all of the unvested shares of Restricted Stock Shares shall thereupon, thereupon be forfeited immediately and without any further action by the Company, be forfeited immediately and released from Company (the “Forfeiture Restriction”). Upon the occurrence of such forfeiture, the Company shall become the legal and beneficial owner of such the Shares forfeited shares and all rights and interests therein or relating thereto and the Company shall have the right to retain and transfer such shares to its own namename the number of Shares being forfeited by the Recipient.