Common use of Early Expiration Upon Termination of Employment Clause in Contracts

Early Expiration Upon Termination of Employment. If Executive’s employment with the Company is terminated for any reason other than termination by the Company for Cause or a voluntary termination by Executive which is not within 90 days after a Good Reason Event, or if Executive shall retire in the ordinary course, (i) the unexercised portion of an Option that has vested prior to or on the date of such termination or retirement (such portion, the “Vested Portion,” and such date of termination or retirement, the “Termination Date”) may be exercised by Executive within 120 days of the Termination Date and such portion shall be immediately subject to the Repurchase Option pursuant to the terms and conditions set forth in the Executive Stock Agreement, and (ii) the portion of an Option which has not vested prior to or on the Termination Date and any portion of the Vested Portion which Executive does not elect to exercise within 120 days of the Termination Date shall expire and shall no longer be exercisable (provided that portions of an Option which have not vested prior to or on the Termination Date shall not expire, if such portions remain eligible for vesting because of Executive’s retirement as described in clause (vii) above). If Executive’s employment with the Company is terminated by the Company for Cause or in the event of a voluntary termination by Executive which is not within 90 days after a Good Reason Event, the portion of an Option that is unexercised (vested or unvested) shall expire and shall no longer be exercisable (provided that portions of an Option which have not vested prior to or on the Termination Date shall not expire, if such portions remain eligible for vesting because of Executive’s retirement as described in clause (vii) above).

Early Expiration Upon Termination of Employment. If Executive’s employment with the Company is terminated for any reason other than termination by the Company for Cause or a voluntary termination by Executive which is not within 90 days after a Good Reason Event, or if Executive shall retire in the ordinary course, (i) the unexercised Any portion of an Option the Options that has were not vested prior to or and exercisable on the date the Participant ceased to be an employee of such termination the Company or retirement (such portion, the “Vested Portion,” a Subsidiary shall expire and be forfeited on such date of termination or retirement, the “Termination Date”) may be exercised by Executive within 120 days of the Termination Date and such portion shall be immediately subject (after giving effect to the Repurchase Option pursuant to the terms and conditions set forth in the Executive Stock Agreementvesting provisions of paragraph 2(b) above), and (ii) the portion of an Option which has not vested prior to or on the Termination Date and any portion of the Vested Portion which Executive does not elect Options that were vested and exercisable on the date the Participant ceased to exercise within 120 days be an employee of the Termination Date Company or a Subsidiary shall also expire and be forfeited; provided that (i) if the Participant dies or becomes subject to a disability, the Options shall expire and shall one year from the date of such death or disability, but in no longer be exercisable (event after the Expiration Date; provided that portions of an Option which have not vested prior to or on that, notwithstanding the Termination Date shall not expireforegoing, if such portions remain eligible for vesting because the disability giving rise to the termination of Executive’s retirement employment is not a disability within the meaning of Section 22(e)(3) of the Code and the Options are not exercised by the Participant within 3 months after the date of termination of employment, the Options will cease to qualify as described in clause an Incentive Stock Option and will be treated as a Nonqualified Stock Option under the Plan if required to be so treated under the Code, (viiii) above). If Executive’s employment with if the Participant ceases to be an employee of the Company is terminated by the Company for Cause or in the event of a voluntary termination by Executive which is not within 90 days after a Good Reason EventSubsidiary due to retirement, the portion of an Option the Options that are vested and exercisable shall expire at the end of a period of up to three years from the date of such retirement, but in each case in no event after the Expiration Date; provided that if the Options are not exercised by the Participant within 3 months after the date of retirement, the Options will cease to qualify as Incentive Stock Options and will be treated as Nonqualified Stock Options under the Plan if required to be so treated under the Code, and (iii) if the Participant is unexercised (discharged other than for Cause, the portion of the Options that are vested or unvested) and exercisable shall expire 3 months from the date of such discharge, but in no event after the Expiration Date. If the Participant is discharged for Cause, all of the Options not previously exercised shall expire and shall no longer be forfeited whether exercisable (provided that portions of an Option which have not vested prior to or on the Termination Date shall not expire, if such portions remain eligible for vesting because of Executive’s retirement as described in clause (vii) above)not.

Early Expiration Upon Termination of Employment. If Executive’s 's employment with the Company is terminated for any reason other than termination by the Company for Cause or a voluntary termination by Executive which is not within 90 days after a Good Reason Event, or if Executive shall retire in the ordinary course, (i) the unexercised portion of an Option that has vested prior to or on the date of such termination or retirement (such portion, the “"Vested Portion,” " and such date of termination or retirement, the “"Termination Date”") may be exercised by Executive within 120 days of the Termination Date and such portion shall be immediately subject to the Repurchase Option pursuant to the terms and conditions set forth in the Executive Stock Agreement, and (ii) the portion of an Option which has not vested prior to or on the Termination Date and any portion of the Vested Portion which Executive does not elect to exercise within 120 days of the Termination Date shall expire and shall no longer be exercisable (provided that portions of an Option which have not vested prior to or on the Termination Date shall not expire, if such portions remain eligible for vesting because of Executive’s 's retirement as described in clause (vii) above). If Executive’s 's employment with the Company is terminated by the Company for Cause or in the event of a voluntary termination by Executive which is not within 90 days after a Good Reason Event, the portion of an Option that is unexercised (vested or unvested) shall expire and shall no longer be exercisable (provided that portions of an Option which have not vested prior to or on the Termination Date shall not expire, if such portions remain eligible for vesting because of Executive’s 's retirement as described in clause (vii) above).

Early Expiration Upon Termination of Employment. If Executive’s employment with the Company is terminated for any reason other than termination by the Company for Cause or a voluntary termination by Executive which is not within 90 days after a Good Reason Event, or if Executive shall retire in the ordinary course, (i) the unexercised Any portion of an Option the Options that has were not vested prior to or on the date the Participant ceased to be an employee of such termination or retirement (such portion, the “Vested Portion,” Company Group shall expire and be forfeited on such date of termination or retirement, the “Termination Date”) may be exercised by Executive within 120 days of the Termination Date and such portion shall be immediately subject (after giving effect to the Repurchase Option pursuant to the terms and conditions set forth in the Executive Stock Agreementvesting provisions of paragraph 2(b) above), and (ii) the portion of an Option which has not vested prior to or on the Termination Date and any portion of the Vested Portion which Executive does not elect Options that were vested on the date the Participant ceased to exercise within 120 days be an employee of the Termination Date Company Group shall also expire and be forfeited; provided that (i) if the Participant dies or becomes subject to a disability, the Options shall expire and shall one year from the date of such death or disability, but in no longer be exercisable (event after the Expiration Date; provided that portions of an Option which have not vested prior to or on that, notwithstanding the Termination Date shall not expireforegoing, if such portions remain eligible for vesting because the disability giving rise to the termination of Executive’s retirement employment is not a disability within the meaning of Section 22(e)(3) of the Code and the Options are not exercised by the Participant within 3 months after the date of termination of employment, the Options will cease to qualify as described in clause an Incentive Stock Option and will be treated as a Nonqualified Stock Option under the Plan if required to be so treated under the Code, (viiii) above). If Executive’s employment with if the Participant ceases to be an employee of the Company is terminated by the Company for Cause or in the event of a voluntary termination by Executive which is not within 90 days after a Good Reason EventGroup due to retirement, the portion of an Option the Options that are vested shall expire at the end of a period of up to three years from the date of such retirement, but in each case in no event after the Expiration Date; provided that if the Options are not exercised by the Participant within 3 months after the date of retirement, the Options will cease to qualify as Incentive Stock Options and will be treated as Nonqualified Stock Options under the Plan if required to be so treated under the Code, and (iii) if the Participant is unexercised (discharged other than for Cause, the portion of the Options that are vested or unvested) shall expire 60 days from the date of such discharge, but in no event after the Expiration Date. If the Participant is discharged for Cause, all of the Options not previously exercised shall expire and shall no longer be forfeited whether exercisable (provided that portions of an Option which have not vested prior to or on the Termination Date shall not expire, if such portions remain eligible for vesting because of Executive’s retirement as described in clause (vii) above)not.

Early Expiration Upon Termination of Employment. If Executive(i) if the Optionee ceases to be an employee of, or to perform other services for, the Company due to death or Disability, the Options shall become fully vested and exercisable as to all of the Option Shares and shall remain exercisable for one year following the date of such death or Disability, but in no event after the Expiration Date; and (ii) if the Optionee ceases to be an employee of, or to perform other services for, the Company or a Subsidiary due to Cause, all of Optionee’s employment options shall be forfeited immediately upon such cessation, whether or not then exercisable; and (iii) if the Optionee ceases to be an employee of, or to otherwise perform services for, the Company or a Subsidiary due to Retirement, (A) the Options that were vested and exercisable on the date of Retirement shall remain exercisable for, and shall otherwise terminate at the end of, a period of three years after the date of Retirement, but no later than the Expiration Date of the Options; and (B) all of the Options that were not vested and exercisable on the date of Retirement shall continue to vest in accordance with the original vesting schedule, provided that the separated employee does not engage in Competition directly or indirectly against the Company, as determined by the Board of Directors or the President; and all such Options once vested shall remain exercisable for, and shall otherwise terminate at the end of, a period of three years after the date the Option vests, but no later than the Expiration Date of the Options. (iv) if Optionee ceases to be an employee of, or to otherwise perform services for, the Company is terminated or a Subsidiary for any reason other than termination by the Company for Cause death, Disability, Retirement or a voluntary termination by Executive which is not within 90 days after a Good Reason Event, or if Executive shall retire in the ordinary courseCause, (iA) the unexercised portion all of an Option Options that has were vested prior to or and exercisable on the date of such termination or retirement (such portioncessation shall remain exercisable for, and shall otherwise terminate at the “Vested Portion,” and such end of a period of three months after the date of termination or retirementcessation, but no later than the “Termination Date”) may be exercised by Executive within 120 days Expiration Date of the Termination Date and such portion shall be immediately subject to the Repurchase Option pursuant to the terms and conditions set forth in the Executive Stock Agreement, Options; and (iiB) all of the portion of an Option which has Options that were not vested prior to or and exercisable on the Termination Date and any portion date of the Vested Portion which Executive does not elect to exercise within 120 days cessation of the Termination Date shall expire and shall no longer be exercisable (provided that portions of an Option which have not vested prior to or on the Termination Date shall not expire, if such portions remain eligible for vesting because of Executive’s retirement as described in clause (vii) above). If Executive’s employment with the Company is terminated shall continue to vest in accordance with the original vesting schedule, at the discretion of 1) the President for employees with unvested Options of less than 5,000 shares, or 2) the Board of Directors for employees with unvested Options of 5,000 shares or more, provided that the separated employee does not engage in Competition directly or indirectly against the Company, as determined by the Company for Cause President or in the event Board of a voluntary termination by Executive which is not within 90 days after a Good Reason EventDirectors, the portion of an Option that is unexercised (respectively, and all such Options once vested or unvested) shall expire remain exercisable for, and shall otherwise terminate at the end of, a period of three months after the date the Option vests, but no longer be exercisable (provided that portions later than the Expiration Date of an Option which have not vested prior to or on the Termination Date shall not expire, if such portions remain eligible for vesting because of Executive’s retirement as described in clause (vii) above)Options.