Common use of Termination of Consultancy Clause in Contracts

Termination of Consultancy. Either the Company or Consultant may terminate the Consulting Period and Consultant’s Services hereunder at any time, for any reason, upon written notice to the other party, provided that Consultant must provide at least 30 days’ prior written notice to the Company prior to any such termination for convenience. Upon a termination of the Consulting Period and the Consultant’s Services, (i) the Company shall pay to Consultant any portion of the Consulting Fee that has been earned but unpaid through the termination date and (ii) any portion of Pre-Consulting Equity Awards that remain unvested as of the termination date shall automatically terminate and be forfeited as of such date. In addition, if the Consulting Period and the Consultant’s Services hereunder are terminated, Consultant immediately shall forfeit all Consulting Fees payable with respect to periods of service following the termination date.