Early Expiration Upon Termination of Employment. Any portion of your Option that was not vested and exercisable on the date your employment with the Company terminates shall expire and be forfeited without payment of any kind on such date, and any portion of your Option that was vested and exercisable on the date your employment with the Company terminates shall also expire and be forfeited without payment of any kind on such date; PROVIDED that: (i) if you die or become subject to any Disability, the portion of your Option that is vested and exercisable shall expire 180 days from the date of your death or Disability, but in no event after the Expiration Date, (ii) if you retire (with the approval of the Committee or the Board), the portion of your Option that is vested and exercisable shall expire 90 days from the date of your retirement, but in no event after the Expiration Date, (iii) if your employment is terminated other than for Cause, the portion of your Option that is vested and exercisable shall expire 90 days from the date of your termination, but in no event after the Expiration Date, and (iv) if your employment is terminated for Cause, the portion of your Option, to the extent not theretofore exercised, shall expire immediately.
Appears in 2 contracts
Samples: Nonqualified Stock Option Agreement (Tsi Networks Inc), Nonqualified Stock Option Agreement (Tsi Networks Inc)
Early Expiration Upon Termination of Employment. Any Except as otherwise provided herein, any portion of your Option that was not vested and exercisable on as of the date your employment with the Company terminates terminated shall expire and be forfeited without payment of any kind on such date, and any portion of your Option that was vested and exercisable on as of the date your employment with the Company terminates terminated shall also expire and be forfeited without payment of any kind on such dateforfeited; PROVIDED provided that: (i) if you die or become subject to any Disability, the portion of your Option that is vested and exercisable shall expire 180 days from the date of your death or Disability, but in no event after the Expiration Date, (ii) if you retire (with the approval of the Committee or the Board), the portion of your Option that is vested and exercisable shall expire 90 days from the date of your retirement, but in no event after the Expiration Date, and (iii) if your employment is terminated you are discharged other than for Cause, the portion of your Option that is vested and exercisable shall expire 90 30 days from the date of your terminationdischarge, but in no event after the Expiration Date, and (iv) if your employment is terminated for Cause, the portion of your Option, to the extent not theretofore exercised, shall expire immediately.
Appears in 1 contract
Samples: Stock Option Agreement (Commercial Vehicle Group, Inc.)
Early Expiration Upon Termination of Employment. Any portion of ----------------------------------------------- your Option that was not vested and exercisable on the date your employment with the Company terminates terminated shall expire and be forfeited without payment of any kind on such date, and any portion of your Option that was vested and exercisable on the date your employment with the Company terminates terminated shall also expire and be forfeited without payment of any kind on such dateforfeited; PROVIDED provided that: (i) if you die or become subject to any Disability, the portion of your Option that is vested and exercisable shall expire 180 days from the date of your death or Disability, but in no event after the Expiration Date, (ii) if you retire (with the approval of the Committee or the Board), the portion of your Option that is vested and exercisable shall expire 90 days from the date of your retirement, but in no event after the Expiration Date, and (iii) if your employment is terminated you are discharged other than for Cause, the portion of your Option that is vested and exercisable shall expire 90 30 days from the date of your terminationdischarge, but in no event after the Expiration Date, and (iv) if your employment is terminated for Cause, the portion of your Option, to the extent not theretofore exercised, shall expire immediately.
Appears in 1 contract
Early Expiration Upon Termination of Employment. Any portion of your Option that was not vested and exercisable on the date your employment with the Company terminates shall terminated (for any reason whatsoever) will expire and be forfeited without payment of any kind on such date, and any portion of your Option that was vested and exercisable on the date your employment with the Company terminates shall terminated (for any reason whatsoever) will also expire and be forfeited without payment of any kind on such dateforfeited; PROVIDED provided, however, that: (i) if you die or become subject to any Disability, the portion of your Option that is vested and exercisable shall will expire 180 90 days from form the date of your death or Disability, but in no event after the Expiration Date, (ii) if you retire (with the approval of the Committee or the Board)Retire, the portion of your Option that is vested and exercisable shall will expire 90 days from the date of your retirementRetirement, but in no event after the Expiration Date, and (iii) if your employment is terminated you are discharged for any reason other than for Cause, the portion of your Option that is vested and exercisable shall will expire 90 30 days from form the date of your terminationdischarge, but in no event after the Expiration Date, and (iv) if your employment is terminated for Cause, the portion of your Option, to the extent not theretofore exercised, shall expire immediately.
Appears in 1 contract