Cessation of Service Clause Example with 5 Variations from Business Contracts

This page contains Cessation of Service clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Cessation of Service. If the Participant's Employment ceases for any reason, except as expressly provided for in a written agreement between the Participant and the Company or one of its affiliates that is in effect at the time of such cessation of Employment, the RSUs, to the extent not then vested, will be immediately forfeited for no consideration.
Found in Rallybio Corp contract

Variations of a "Cessation of Service" Clause from Business Contracts

Cessation of Service. If the Participant's Employment ceases for any reason, except as expressly provided for in a written agreement between the Participant and the Company or one of its affiliates that is in effect at the time of such cessation of Employment, the RSUs, Stock Option, to the extent not then vested, will be immediately forfeited for no consideration. 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. The Participant acknowledges and agrees that in the event any portion of the Stock Option is exercised after the date that is three (3) months after the date of the cessation of the Participant's employment with the Company and its subsidiaries (subject to certain exceptions in the case of the Participant's death), the Participant will lose the tax treatment afforded to ISOs under the Code with respect to any portion of the Stock Option so exercised. View More Arrow
Found in Rallybio Corp contract
Cessation of Service. If the Participant's Employment ceases for any reason, except as expressly provided for in a written agreement between the Participant and the Company or one of its affiliates that is in effect at the time of such cessation of Employment, the RSUs, Stock Option, to the extent not then vested, will be immediately forfeited for no consideration. 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. View More Arrow
Found in 2 Contracts from Rallybio Corp
Cessation of Service. If the Participant's Employment ceases for any reason, except as expressly provided for in a written employment, change of control or severance-benefit agreement between the Participant and the Company or one of its affiliates that is in effect at the time of such cessation of Employment, the RSUs, PSUs or Earned PSUs, as applicable, to the extent not then vested, will be immediately forfeited for no consideration.
Found in LianBio contract
Cessation of Service. If the Participant's Employment ceases for any reason, except as expressly provided for in Section 2 above [or in a written employment, change of control or severance-benefit agreement between the Participant and the Company or one of its affiliates that is in effect at the time of such cessation of Employment, Employment]1, the RSUs, to the extent not then vested, will be immediately forfeited for no consideration.
Found in Duckhorn Portfolio, Inc. contract
Cessation of Service. If the Participant's Employment ceases for any reason, except as expressly provided for in a written employment, change of control or severance-benefit agreement between the Participant and the Company or one of its affiliates that is in effect at the time of such cessation of Employment, the RSUs, to the extent not then vested, will be immediately forfeited for no consideration.
Found in 2 Contracts from 2 Companies