Common use of Other Employment Termination Clause in Contracts

Other Employment Termination. In the event the Participant’s Date of Termination occurs for any reason other than the Participant’s death or Disability, the Participant shall, as of a Date of Termination, forfeit the Covered Shares that as of such date have not become vested and the Company shall have the right, but not the obligation, to repurchase for the Repurchase Price all of the Covered Shares that have vested of which the Participant is the owner on the Repurchase Date. Covered Shares may not be sold, assigned, transferred, pledged or otherwise encumbered until the expiration of the Restricted Period or, if earlier, until the Participant is vested in the shares. Except as otherwise provided in this paragraph 6, the Participant shall forfeit the Covered Shares as of a Date of Termination that occurs during the Restricted Period.