Common use of Effect of Termination for Disability or upon Death Clause in Contracts

Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate by reason of Disability or death: to the extent the Company’s Lapsing Repurchase Right has not lapsed as of the date of Disability or death, as case may be, the Company may exercise such Lapsing Repurchase Right; provided, however, that the Company’s Lapsing Repurchase Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s date of Disability or death, as the case may be.

Appears in 9 contracts

Samples: Restricted Stock Agreement (Dicerna Pharmaceuticals Inc), Restricted Stock Agreement (BioHorizons, Inc.), Restricted Stock Agreement (BioHorizons, Inc.)

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Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate Participant’s Termination is by reason of Disability or death: to the extent the Company’s Lapsing Repurchase Forfeiture Right has not lapsed as of the date of Disability or death, as case may be, the Participant shall forfeit to the Company may exercise any or all of the Granted Shares subject to such Lapsing Repurchase Forfeiture Right; provided, however, that the Company’s Lapsing Repurchase Forfeiture Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s date of Disability or death, as the case may be.

Appears in 8 contracts

Samples: Restricted Stock Agreement (Immunogen Inc), Restricted Stock Agreement (Madrigal Pharmaceuticals, Inc.), Restricted Stock Agreement (Immunogen Inc)

Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate Participant’s Termination is by reason of Disability or death: to the extent the Company’s Lapsing Repurchase Right has not lapsed as of the date of Disability or death, as case may be, the Participant shall forfeit to the Company may exercise any or all of the Granted Shares subject to such Lapsing Repurchase Right; provided, however, that the Company’s Lapsing Repurchase Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s date of Disability or death, as the case may be.

Appears in 8 contracts

Samples: Restricted Stock Agreement (Majesco Entertainment Co), Restricted Stock Agreement (Majesco Entertainment Co), Restricted Stock Agreement (Majesco Entertainment Co)

Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate by reason of Disability or death: to the extent the Company’s 's Lapsing Repurchase Right has not lapsed as of the date of Disability or death, as case may be, the Company may exercise such Lapsing Repurchase Right; provided, however, that the Company’s 's Lapsing Repurchase Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Unvested Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s 's date of Disability or death, as the case may be.

Appears in 4 contracts

Samples: Qualified Stock Option Agreement (Archemix Corp.), Incentive Stock Option Agreement (Archemix Corp.), Incentive Stock Option Agreement (Altus Pharmaceuticals Inc.)

Effect of Termination for Disability or upon Death. The Except as otherwise provided in Subsection 2.1(a)(iii) above, the following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate by reason of Disability or death: to the extent the Company’s Lapsing Repurchase Right has not lapsed as of the date of Disability or death, as case may be, the Company may exercise such Lapsing Repurchase Right; provided, however, that the Company’s Lapsing Repurchase Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s date of Disability or death, as the case may be.

Appears in 3 contracts

Samples: Restricted Stock Agreement (dELiAs, Inc.), Restricted Stock Agreement (Alloy Inc), Restricted Stock Agreement (Alloy Inc)

Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate Participant's Termination is by reason of Disability or death: to the extent the Company’s 's Lapsing Repurchase Forfeiture Right has not lapsed as of the date of Disability or death, as case may be, the Participant shall forfeit to the Company may exercise any or all of the Granted Shares subject to such Lapsing Repurchase Forfeiture Right; provided, however, that the Company’s 's Lapsing Repurchase Forfeiture Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s 's date of Disability or death, as the case may be.

Appears in 3 contracts

Samples: Restricted Stock Agreement (SRB Management, L.P.), Enernoc Inc, Synta Pharmaceuticals Corp

Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate by reason of Disability “Disability” (as defined in the Plan) or death: to the extent the Company’s Lapsing Repurchase Right has not lapsed as of the date of Disability or death, as case may be, the Company may exercise such Lapsing Repurchase Right; provided, however, that the Company’s Lapsing Repurchase Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s date of Disability or death, as the case may be.

Appears in 1 contract

Samples: Form of Restricted Stock Agreement (Dicerna Pharmaceuticals Inc)

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Effect of Termination for Disability or upon Death. The Except as otherwise provided in Subsection 2.1(a)(iii) above, the following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate by reason of Disability or death: to the extent the Company’s 's Lapsing Repurchase Right has not lapsed as of the date of Disability or death, as case may be, the Company may exercise such Lapsing Repurchase Right; provided, however, that the Company’s 's Lapsing Repurchase Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s 's date of Disability or death, as the case may be.

Appears in 1 contract

Samples: Alphatec Holdings, Inc.

Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be an employee, director or consultant of the Company or an Affiliate Participant’s Termination is by reason of Disability or death: to the extent the Company’s Lapsing Repurchase Forfeiture Right has not lapsed as of the date of Disability or death, as the case may be, the Participant shall forfeit to the Company may exercise any or all of the Granted Shares subject to such Lapsing Repurchase Forfeiture Right; provided, however, that the Company’s Lapsing Repurchase Forfeiture Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s date of Disability or death, as the case may be.

Appears in 1 contract

Samples: Restricted Stock Agreement (BG Medicine, Inc.)

Effect of Termination for Disability or upon Death. The following rules apply if the Participant ceases to be an employee, a director or consultant of the Company or an Affiliate by reason of Disability or death: to the extent the Company’s 's Lapsing Repurchase Right has not lapsed as of the date of Disability or death, as case may be, the Company may exercise such Lapsing Repurchase Right; provided, however, that the Company’s 's Lapsing Repurchase Right shall be deemed to have lapsed to the extent of a pro rata portion of the Granted Unvested Shares through the date of Disability or death, as would have lapsed had the Participant not become Disabled or died, as the case may be. The proration shall be based upon the number of days accrued in such current vesting period prior to the Participant’s 's date of Disability or death, as the case may be.

Appears in 1 contract

Samples: Qualified Stock Option Agreement (Archemix Corp.)

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