Common use of Service Condition and Forfeiture Clause in Contracts

Service Condition and Forfeiture. In order for any Shares hereunder to become Eligible Shares and to vest, Participant must have continuously satisfied the Service Condition through the applicable Achievement Date, and continue to satisfy the Service Condition through the Vesting Date or experience an Acceleration Event after the Achievement Date but before the Vesting Date. Except with respect to any Eligible Shares that may vest on an Acceleration Event in accordance with the prior sentence, on the Expiration Date, any outstanding Shares subject to this Award that have not vested immediately will be forfeited and returned to the Company, and Participant will have no further rights with respect to such Shares.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Dropbox, Inc.), Restricted Stock Award Agreement (Dropbox, Inc.), Restricted Stock Award Agreement (Dropbox, Inc.)

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