Common use of CONDITIONS FOR EXERCISING THE OPTION Clause in Contracts

CONDITIONS FOR EXERCISING THE OPTION. This Agreement and any remaining Options ceases to apply with immediate effect if the Option Holder gives or receives notice that the employment relationship (or, in the event that the option holder is not an employee, the membership of the board of directors or strategic relationship as referred to in Section 1 (A)) between the Option Holder and the Company or a subsidiary is terminated for any reason. The Option Holder can submit a request to exercise within 14 days after such termination notice for all vested Options due at the date of termination. After this deadline, the Option Holder cannot submit any requests to exercise. If the Option Holder dies or is no longer able to work as a result of serious illness (documented disability), the Option Holder (or legal inheritors or the estate) may exercise these Options provided (a) that this is done prior to the date of expiration specified in Section2, and (b) that this shall only apply to options that are fully vested in accordance with Section 3 (a) and (b) on the date when the Option Holder ceases to work (or be a director or strategic cooperation partner as the case may be) for the Company or its subsidiaries.

CONDITIONS FOR EXERCISING THE OPTION. This Agreement and any remaining Options ceases to apply with immediate effect if the Option Holder gives or receives notice that the employment relationship (or, in the event that the option holder is not an employee, the membership of the board of directors or strategic relationship as referred to in Section 1 (A)) between the Option Holder and the Company or a subsidiary is terminated for any reason. The Option Holder can submit a request to exercise within 14 days after such termination notice for all vested Options due at the date of termination. After this deadline, the Option Holder cannot submit any requests to exercise. If the Option Holder dies or is no longer able to work as a result of serious illness (documented disability), the Option Holder (or legal inheritors or the estate) may exercise these Options provided (a) that this is done prior to the date of expiration specified specified in Section2Section 2, and (b) that this shall only apply to options that are fully vested in accordance with Section 3 (a) and (b) on the date when the Option Holder ceases to work (or be a director or strategic cooperation partner as the case may be) for the Company or its subsidiaries.

CONDITIONS FOR EXERCISING THE OPTION. This Agreement and any remaining Options ceases to apply with immediate effect if the Option Holder gives or receives notice that the employment relationship (or, in the event that the option holder is not an employee, the membership of the board of directors or strategic relationship as referred to in Section 1 (A)) between the Option Holder and the Company or a subsidiary is terminated for any reason. The Option Holder can submit a request to exercise within 14 days after such termination notice for all vested Options due at the date of termination. After this deadline, the Option Holder cannot submit any requests to exercise. If the Option Holder dies or is no longer able to work as a result of serious illness (documented disability), the Option Holder (or legal inheritors or the estate) may exercise these Options provided (a) that this is done prior to the date of expiration specified specified in Section2, and (b) that this shall only apply to options that are fully vested in accordance with Section 3 (a) and (b) on the date when the Option Holder ceases to work (or be a director or strategic cooperation partner as the case may be) for the Company or its subsidiaries.