Common use of Permitted Forfeiture of Unvested Restricted Stock Clause in Contracts

Permitted Forfeiture of Unvested Restricted Stock. Advisor acknowledges that if the Restricted Stock has not vested in accordance with Section 2(a)(i) at such time as Advisor is no longer serving as either a non-employee director of, an employee of, or active consultant providing services to the Company or any of its subsidiaries, the Restricted Stock shall immediately be forfeited and all rights of the Advisor to such Restricted Stock shall terminate without further obligation on the part of the Company. Upon the forfeiture of any Restricted Stock, such forfeited Restricted Stock shall be immediately transferred to the Company without further action by the Company. The Restricted Stock may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent that the Restricted Stock is subject to vesting and in the event of termination of employment with or services to the Company or any subsidiary for any reason.

Permitted Forfeiture of Unvested Restricted Stock. Advisor Consultant acknowledges that if to the extent the Restricted Stock has not vested in accordance with Section 2(a)(i) 2.1 at such time as Advisor Consultant is no longer serving as either a non-employee director of, an employee of, or active consultant providing services to the Company or any of its subsidiariessubsidiaries pursuant to the Consulting Agreement, the except as otherwise provided in Section 2.4 hereof, such unvested Restricted Stock shall immediately be forfeited and all rights of the Advisor Consultant to such Restricted Stock shall terminate without further obligation on the part of the Company. Upon the forfeiture of any Restricted Stock, such forfeited Restricted Stock shall be immediately transferred to the Company without further action by the CompanyConsultant. The Restricted Stock may not be sold, assigned, pledged, exchanged, hypothecated or otherwise transferred, encumbered or disposed of to the extent that the Restricted Stock is subject to vesting and in the event of termination of employment with or services to the Company or any subsidiary for any reason.