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

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 terminated shall expire and be forfeited on such date, and any portion of your Option that was vested and exercisable on the date your employment with the Company terminated shall also expire and be forfeited; 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 you are discharged other than for Cause, the portion of your Option that is vested and exercisable shall expire 30 days from the date of your discharge, but in no event after the Expiration Date.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Symmetry Medical Inc.), Nonqualified Stock Option Agreement (Symmetry Medical Inc.)

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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 terminated shall expire and be forfeited on such date, and any portion of your Option that was vested and exercisable on the date your employment with the Company terminated shall also expire and be forfeited; 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 you are discharged other than for Cause, the portion of your Option that is vested and exercisable shall expire 30 days from the date of your discharge, but in no event after the Expiration Date.the

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Roomlinx Inc)

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Early Expiration Upon Termination of Employment. Any portion of your Option that was is not vested and exercisable on the date your Grantee’s employment with the Company terminated terminates shall expire and be forfeited on such date, and any portion of your Option the Options that was were vested and exercisable on the date your Grantee’s employment with the Company terminated terminates shall also expire and be forfeited; provided that: (i) if you die Grantee dies or become becomes subject to any Disability, the portion of your Option that is vested and exercisable Options shall expire 180 days from the date of your death or Disability, but in no event after the Expiration Date, (ii) if you retire Grantee retires (with the approval of the Committee or the Board), the portion of your Option the Options that is are vested and exercisable shall expire 90 days from the date of your retirement, but in no event after the Expiration Date, and (iii) if you are Grantee is discharged other than for Cause, the portion of your Option the Options that is are vested and exercisable shall expire 30 days from the date of your discharge, but in no event after the Expiration Date.

Appears in 1 contract

Samples: Stock Option Agreement (Symmetry Medical Inc.)

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