Common use of Restriction Period and Vesting Clause in Contracts

Restriction Period and Vesting. The Award shall vest in accordance with the vesting schedule set forth in the Award Notice, provided the Participant remains continuously employed by the Company through the applicable vesting date. The period of time prior to the vesting shall be referred to herein as the “Restriction Period.” In the event of the Participant’s Termination, the portion of the Award that was not vested immediately prior to such Termination shall be immediately forfeited by the Participant and cancelled by the Company.

Restriction Period and Vesting. The Award shall vest in accordance with the vesting schedule set forth in the Award Notice, provided the Participant remains continuously employed by the Company through the applicable vesting date. Any release from employment, regardless of whether the underlying employment has been terminated, shall no longer be deemed continuously employed. The period of time prior to the vesting shall be referred to herein as the “Restriction Period.” In the event of the Participant’s Termination, the portion of the Award that was not vested immediately prior to such Termination shall be immediately forfeited by the Participant and cancelled by the Company.