Termination of Employment; Death. (a) Should Grantee’s employment or service with the Company or one of its subsidiaries terminate for any reason other than by reason of death during the Restriction Period, Grantee will forfeit all of the Deferred Stock as to which the Restriction Period has not expired on or before the effective date of such termination. (b) Should Grantee die during the Restriction Period, all restrictions imposed under Section 2(b) above with respect to such Deferred Stock shall lapse and such shares shall become transferable and nonforfeitable.
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Samples: Deferred Stock Agreement (Adolor Corp), Deferred Stock Agreement (Adolor Corp), Employee Deferred Stock Agreement (Adolor Corp)
Termination of Employment; Death. (a) Should Grantee’s employment or service with as a non-employee director of the Company or one of its subsidiaries terminate for any reason other than by reason of death during the Restriction Period, Grantee will forfeit all of the Deferred Stock as to which the Restriction Period has not expired on or before the effective date of such termination.
(b) Should Grantee die during the Restriction Period, all restrictions imposed under Section 2(b) above with respect to such Deferred Stock shall lapse and such shares shall become transferable and nonforfeitable.
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