Vesting During Continued Service Clause Samples

Vesting During Continued Service as a Director; Termination of Grantee’s Service as a Director of the Company. So long as the Grantee continues to serve as a director of the Company and subject to other terms and conditions contained herein, [●] of the Unvested Shares shall become Vested Shares on [●] and the remaining [●] of the Unvested Shares shall become Vested Shares on [●]. If, prior to [●], the Grantee ceases to be a director of the Company for any reason, all remaining Unvested Shares shall immediately be forfeited, and the Company shall have the right to obtain and transfer to its own name such forfeited Shares without payment of any consideration. Such forfeited Unvested Shares will be further subject to the forfeiture provisions in Section 3.2 hereof.