Forfeiture Clause Example with 4 Variations from Business Contracts

This page contains Forfeiture 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.
Forfeiture. If you cease to serve as of the Company due to your resignation or removal for cause at time prior to the date on which the Company completes its initial Business Combination, all of the Insider Shares granted hereunder will be automatically forfeited by you for no consideration and immediately cancelled by the Company.
Found in GigCapital4, Inc. contract

Variations of a "Forfeiture" Clause from Business Contracts

Forfeiture. If you cease to serve as Hardware Chief Technical Officer of the Company due to your resignation or removal for cause at time prior to the date on which the Company completes its initial Business Combination, all of the Insider Shares granted hereunder will be automatically forfeited by you for no consideration and immediately cancelled by the Company.
Found in GigCapital3, Inc. contract
Forfeiture. If you cease to serve as Software Chief Technical Officer of the Company due to your resignation or removal for cause at time prior to the date on which the Company completes its initial Business Combination, all of the Insider Shares granted hereunder will be automatically forfeited by you for no consideration and immediately cancelled by the Company.
Found in GigCapital3, Inc. contract
Forfeiture. If you cease to serve as the Treasurer and Chief Financial Officer of the Company due to your resignation or removal for cause at time prior to the date on which the Company completes its initial Business Combination, all of the Insider Shares granted hereunder will be automatically forfeited by you for no consideration and immediately cancelled by the Company.
Found in GigCapital5, Inc. contract
Forfeiture. If you cease to serve as the Chief Financial Officer of the Company due to your resignation or removal for cause at time prior to the date on which the Company completes its initial Business Combination, all of the Insider Shares granted hereunder will be automatically forfeited by you for no consideration and immediately cancelled by the Company.
Found in GigCapital4, Inc. contract