Common use of Lapsing Forfeiture Right Clause in Contracts

Lapsing Forfeiture Right. Except as set forth in Subsections 2.1(b), 2.1(c) and 2.1(d) hereof, in the event that for any reason the Participant is no longer an Employee, director or Consultant of the Company or an Affiliate (the “Termination”) prior to ______________, the Participant (or the Participant’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet vested in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). The Company’s Lapsing Forfeiture Right is as follows: (i) If the Participant’s Termination is prior to the first anniversary of the Grant Date, all of the Granted Shares shall be forfeited to the Company. (ii) If the Participant’s Termination is on or after the first anniversary of the Grant Date, but prior to _______________, __% of the Granted Shares shall be forfeited to the Company (rounded up to the next highest whole number of shares).

Lapsing Forfeiture Right. Except as set forth in Subsections 2.1(b), 2.1(c) and 2.1(d) hereof, in In the event that for any reason the Participant is no longer an Employeeemployee, director or Consultant consultant of the Company or an Affiliate (the “Termination”) prior to __________________1 (the "Termination"), the Participant (or the Participant’s 's Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet vested lapsed in accordance with the schedule set forth below (the “"Lapsing Forfeiture Right”"). The Company’s 's Lapsing Forfeiture Right is as follows:: _________________ 1 Insert date which is the last date any of the shares may be repurchased by the Company. (i) If the Participant’s 's Termination is prior to [the first anniversary of the Grant Date], all of the Granted Shares shall be forfeited to the Company. (ii) If the Participant’s 's Termination is on or after [the first anniversary of the Grant Date, ] but prior to _______________, __% of the Granted Shares shall be forfeited to the Company (rounded up to the next highest whole number of shares).

Lapsing Forfeiture Right. Except as otherwise set forth in Subsections 2.1(b), 2.1(cSections 2(b),(c) and 2.1(d(d) hereofbelow, in the event that for any reason the Participant is no longer an Employeeemployee, director or Consultant consultant of the Company or an Affiliate (such event being the “Termination”) prior to __________________, the Participant (or the Participant’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet vested lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). The Company’s Lapsing Forfeiture Right is as follows: (i) If the Participant’s Termination is prior to [the first anniversary of the Grant Date], all of the Granted Shares shall be forfeited to the Company. (ii) If the Participant’s Termination is on or after [the first anniversary of the Grant Date, ] but prior to _______________, __% of the Granted Shares shall be forfeited to the Company (rounded up to the next highest whole number of shares). [Continue from (ii) for additional vesting periods.]

Lapsing Forfeiture Right. Except as otherwise set forth in Subsections 2.1(b), 2.1(cSections 2(b),(c) and 2.1(d(d) hereofbelow, in the event that for any reason the Participant is no longer an Employeeemployee, director or Consultant consultant of the Company or an Affiliate (such event being the “Termination”) prior to ______________, the Participant (or the Participant’s Survivor) shall, on the date of Termination, immediately forfeit to the Company (or its designee) all of the Granted Shares which have not yet vested lapsed in accordance with the schedule set forth below (the “Lapsing Forfeiture Right”). The Company’s Lapsing Forfeiture Right is as follows: (i) If the Participant’s Termination is prior to [the first anniversary of the Grant Date], all of the Granted Shares shall be forfeited to the Company. (ii) If the Participant’s Termination is on or after [the first anniversary of the Grant Date, ] but prior to _______________, __% of the Granted Shares shall be forfeited to the Company (rounded up to the next highest whole number of shares). [Continue from (ii) for additional vesting periods.]