Common use of Forfeiture of Stock Option Clause in Contracts

Forfeiture of Stock Option. (a) To the extent that the Stock Option has not yet vested pursuant to Section 2 above, it shall be forfeited automatically without further action or notice if the Participant ceases to be employed by the Company and its Subsidiaries prior to the Vesting Date other than as provided in Section 2(b). (b) Notwithstanding any provision in this Agreement to the contrary, the Stock Option and any Shares or cash paid or deliverable pursuant to this Agreement shall be subject to forfeiture or repayment to the extent required to comply with the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act or any rules or regulations issued by the Securities and Exchange Commission rule or applicable securities exchange. This Section 3(b) shall survive and continue in full force in accordance with its terms notwithstanding any termination of the Participant’s employment or the exercise of the Stock Option as provided herein.

Forfeiture of Stock Option. (a) To the extent that the Stock Option has not yet vested pursuant to Section 2 above, it shall be forfeited automatically without further action or notice if the Participant ceases to be employed by the Company and its Subsidiaries prior to the Vesting Date other than as provided in Section 2(b). (b) Notwithstanding any provision in this Agreement to the contrary, the Stock Option and any Shares or cash paid or deliverable pursuant to this Agreement shall be subject to forfeiture or repayment to the extent required to comply with the ▇▇▇▇-▇▇▇▇▇ ▇▇▇▇ Street Reform and Consumer Protection Act or any rules or regulations issued by the Securities and Exchange Commission rule or applicable securities exchange. This Section 3(b) shall survive and continue in full force in accordance with its terms notwithstanding any termination of the Participant’s 's employment or the exercise of the Stock Option as provided herein.