Common use of Forfeiture Risk Clause in Contracts

Forfeiture Risk. Except as provided in Section 7(c) of this Agreement, if Employee ceases to be employed by the Company and its subsidiaries for any reason, including death, any then unvested Shares acquired by Employee hereunder shall be immediately forfeited upon such termination with no consideration due to Employee. Employee hereby (i) appoints the Company as his or her attorney-in-fact to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more stock powers, endorsed in blank, with respect to such Shares, and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder.

Forfeiture Risk. Except as provided in Section 7(c) of this Agreement, if Employee If the undersigned ceases to be employed by the Company and its subsidiaries for any reason, including deathdeath (except as to the proration provided for in Paragraph 11 below), any then outstanding and unvested Shares acquired by Employee the undersigned hereunder shall be automatically and immediately forfeited upon such termination with no consideration due to Employeeforfeited. Employee The undersigned hereby (i) appoints the Company as his or her the attorney-in-fact of the undersigned to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more stock powers, endorsed in blank, with respect to such Shares, and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder.

Forfeiture Risk. Except as provided in Section 7(c) of this Agreement, if Employee If the undersigned ceases to be employed by a Director of the Company and its subsidiaries for any reason, including deathexcluding death (provided for in Paragraph 11 below), any then outstanding and unvested Shares acquired by Employee the undersigned hereunder shall be automatically and immediately forfeited upon such termination with no consideration due by the undersigned to Employeethe Company and available for reissue under the Plan. Employee The undersigned hereby (i) appoints the Company as his or her the attorney-in-fact of the undersigned to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more stock powers, endorsed in blank, with respect to such SharesXxxxxx, and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder.

Forfeiture Risk. Except as provided (a) Subject to the limitations set forth in Section 7(c) the Consulting Agreement of this Agreementeven date by and between the Participant and the Company, if Employee the Participant’s Employment ceases to be employed by the Company and its subsidiaries for any reason, including death, any then outstanding and unvested Shares shares of Restricted Stock acquired by Employee the Participant hereunder shall will be automatically and immediately forfeited upon such termination with no consideration due to Employeeforfeited. Employee The Participant hereby (i) appoints the Company as his or her attorney-in-fact to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares shares of Restricted Stock hereunder, one or more stock powers, endorsed in blank, with respect to such Sharesshares, and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares shares of Restricted Stock that are is forfeited hereunder.

Forfeiture Risk. Except as provided in Section 7(c) of this Agreement, if Employee ceases to be employed by the Company and its subsidiaries for any reason, including death, any then unvested Shares acquired by Employee hereunder shall be immediately forfeited upon such termination with no consideration due to Employee. Employee hereby (i) appoints the Company as his or her attorney-in-fact to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more stock powers, endorsed in blank, with respect to such Shares, and (iii) agrees to sign such other powers Xxxxxxx Xxxxxx XXX xxxxxx and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder.

Forfeiture Risk. Except as provided in Section 7(c) Subject to Paragraph 8 below, upon termination of this Agreement, if Employee ceases to be employed by the undersigned’s employment or other service relationship with the Company and its subsidiaries (“Employment”) for any reason, including death, any then outstanding and unvested Shares acquired by Employee the undersigned hereunder shall be automatically and immediately forfeited upon such termination with no consideration due to Employeeforfeited. Employee The undersigned hereby (i) appoints the Company as his or her the attorney-in-fact of the undersigned to take such actions as may be necessary or appropriate to effectuate a transfer of the record ownership of any such Shares shares that are unvested and forfeited hereunder, (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder, one or more stock powers, endorsed in blank, with respect to such Shares, and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares that are forfeited hereunder.