Certain Other Termination Provisions Sample Clauses
Certain Other Termination Provisions. (i) The Option and all rights hereunder with respect thereto, to the extent such rights shall not have been exercised, shall terminate and become null and void on the last day of the Option Term.
(ii) If the Purchaser's employment with the Company has terminated for any reason, the Option, if not previously exercised, shall immediately terminate and become null and void except where the termination of such employment is by reason of Purchaser's death during the Option Term.
(iii) Upon a termination of the Purchaser's employment by reason of death during the Option Term, the Option may be exercised by the Purchaser's estate during the Option Term.
(iv) A transfer of the Purchaser's employment between the Company and any parent or subsidiary of the Company, or between any parents or subsidiaries of the Company, shall not be deemed to be a termination of the Purchaser's employment.
(v) Notwithstanding any other provisions set forth herein, if the Purchaser shall (A) commit any act of malfeasance or wrongdoing affecting the Company or any parent or subsidiary of the Company, (B) breach any covenant not to compete or employment contract with the Company or any parent or subsidiary of the Company, or (C) engage in conduct that would warrant the termination of Purchaser's employment for cause, the Option shall immediately terminate and become null and void.
Certain Other Termination Provisions. (i) The Option and all rights hereunder with respect thereto, to the extent such Option and such rights shall not have been exercised, shall immediately terminate and become null and void on the Option Expiration Date.
(ii) Notwithstanding anything to the contrary set forth in this Agreement, if the Purchaser's association as a Director of the Company has terminated for any reason, the Option, if and to the extent not previously exercised, shall immediately terminate and become null and void except where the termination of such association is by reason of the Purchaser's death during the Option Term, provided, however, that termination of the -------- ------- Purchaser's association as a Director of the Company shall not be deemed a termination for purposes of this Agreement if and for as long as the Purchaser is a member of the board of directors of any parent or subsidiary of the Company.
(iii) Notwithstanding anything to the contrary set forth in this Agreement, upon termination of the Purchaser's association as a Director of the Company by reason of death during the six (6) month period preceding the Option Expiration Date, the Option shall terminate upon the expiration of the six (6) month period following such death.