Cessation of Employment Clause Example from Business Contracts

This example Cessation of Employment clause appears in 2 contracts from 2 companies

Cessation of Employment. If the Participant's Employment ceases for any reason, the Stock Option, to the extent not then vested, will be immediately forfeited for no consideration, and any vested portion of the Stock Option that is then outstanding will remain exercisable for the period, if any, described in Section 6(a)(4) of the Plan.
Found in Cyteir Therapeutics, Inc. contract
Cyteir Therapeutics, Inc. Contracts

Form of Non-Qualified Stock Option Grant Notice for Non-Employee Directors under the Cyteir Therapeutics, Inc. 2021 Equity Incentive Plan (Filed With SEC on June 14, 2021)

OLAPLEX HOLDINGS, INC. Contracts

Form of Non-Statutory Stock Option Agreement (Employee) under the Olaplex Holdings, Inc. 2021 Equity Incentive Plan (Filed With SEC on September 20, 2021)