Duration of the Option. The Option shall terminate and may no longer be exercised on the Option Term Date as defined above.
Duration of the Option. This Option shall automatically and without notice terminate and become null and void on the earliest to occur of the following:
1. The Option Term Date or;
2. A. Upon the termination of a Grantee’s employment from the Company and all Affiliates for Cause, any unexercised Options subject to this Option Agreement shall immediately expire upon notice of such termination.
Duration of the Option. Subject to reductions in the Option period as hereinafter provided in the event of termination of employment or death of the Optionee, the Option shall continue in effect for a period of ten (10) years from the date hereof.
Duration of the Option. Unless it expires earlier pursuant to Section 3, above, the Option shall expire as follows:
(i) Upon the termination of Grantee's employment for Cause, the Option shall expire with respect to any Option Shares with respect to which it has not yet been exercised (whether vested or unvested).
(ii) Upon the voluntary termination of the Grantee's employment with the Company (or any subsidiary of the Company) for any reason other than death, Disability or retirement (as described in clause (iv), below), the Option shall expire with respect to any Option Shares with respect to which it is not yet then vested. To the extent of any Option Shares with respect to which it is then vested, the Option may be exercised at any time during the three-month period following the date of employment termination, at which time the Option shall expire; provided that, if the Grantee has accumulated 15 years of credited service with the Company (within the meaning of the Company's Pension Plan) as of the date of such employment termination, the Option may be exercised at any time preceding the Expiration Date with respect to such vested Option Shares.
(iii) Upon the termination of the Grantee's employment with the Company (or any subsidiary of the Company) by reason of death or Disability, the Option shall vest with respect to all Option Shares and may be exercised at any time preceding the Expiration Date.
(iv) In cases of voluntary termination of employment with the Company (or any subsidiary of the Company) where the Grantee has attained normal retirement age and been credited with at least 5 years credited service within the meaning of the Company's Pension Plan, qualifies for full retirement benefits under the Company's Rule of Eighty (Rule of 80) within the meaning of the Company's Pension Plan, or becomes a sales associate of the Company (thereby becoming a sub-contractor of the Company), the Option shall vest with respect to all Option Shares and may be exercised at any time preceding the Expiration Date.
Duration of the Option. The Option shall expire ten (10) years from the date of this Agreement.
Duration of the Option. The Option shall be exercisable to the extent and in the manner provided herein for a period of ten (10) years from the Grant Date (the "Exercise Term"); provided, however, that the Option may be terminated earlier as provided in Section 5(b), 7(a), 7(b), 11(a) or 11(b). Any unexercised portion of the Option that is not exercised during the Exercise Term shall be deemed terminated at the end of the Exercise Term (or at such earlier time as provided in Section 5(b), 7(a), 7(b), 11(a) or 11(b)).
Duration of the Option. Upon the cessation of the Grantee's membership on the Board of Directors for any reason except death, disability or retirement as described above, this Option, to the extent not then exercisable, shall expire, and to the extent then exercisable, shall remain exercisable until the Expiration Date. Upon the Grantee's cessation of service by reason of death, disability, retirement (i.e., the cessation of membership on the Board of Directors either (1) after ten (10) years of service on the Board of Directors or (2) as of the date of the first annual Shareholders’ meeting of the Company on or after the date the Grantee attains age 75 and is no longer eligible to stand for reelection as per the By-laws of the Company) this Option to the extent not then exercisable (unvested), shall become immediately exercisable (vested), and shall remain exercisable until the Expiration Date.
Duration of the Option. 3.1. Subject to the terms of the Plan and notwithstanding the durations set forth in subsection 10.4, 10.5(1) and 10.5(2) of the Option Plan, the Options may be exercised into shares subject to the purchase dates listed in Appendix B of this Agreement, as of the grant date of the Options and until the expiration date of the Options, as set forth in Appendix B, unless the Options or part thereof have expired before the end of the aforesaid duration under the terms of the Option Plan (other than as stated above) and this Agreement.
3.2. The Options are exercisable into full shares only, and fragments of shares cannot be purchased in any event. In the event in which fragments of shares are received as a result of the exercise of Options, the share fragments will be rounded upward or downward to the nearest full number.
Duration of the Option. Upon the cessation of the Grantee's membership on the Board of Directors for any reason except a term of service ending on the date of the Annual Meeting, death or disability this Option, to the extent not then exercisable, shall expire, and to the extent then exercisable, shall remain exercisable until the Expiration Date. Upon the Grantee's cessation of service by reason of death or disability, this Option to the extent not then exercisable (unvested), shall become immediately exercisable (vested), and shall remain exercisable until the Expiration Date.
Duration of the Option. The right to purchase any Option Shares which shall have vested pursuant to Section 1.3 shall be effective during the period commencing on the date of such vesting and ending on the earliest to occur of:
(a) the fifth anniversary of the Grant Date (the "Option Term Date");
(b) the date all Option Shares are purchased pursuant to this Agreement; and
(c) thirty (30) days following the date of the termination of Optionee's employment with or retention by the Company, provided, however, if such termination occurs by reason of Optionee's death or permanent disability (such permanent disability as determined by a physician reasonably satisfactory to the Company), such period shall be extended to three (3) months following the date of such event. In no event, however, shall any such period extend beyond the Option Term Date.
