Early Termination of Options Sample Clauses

Early Termination of Options. The Options will terminate, prior to the expiration of the Term, at the time specified below: (a) Subject to Section 7(b), if the Grantee’s employment with the Company and its Subsidiaries is terminated other than (i) by the Company or a Subsidiary for Cause or (ii) by reason of death or Disability, then the Options will terminate at the Close of Business on the first Business Day following the expiration of the 90-day period which began on the date of termination of the Grantee’s employment. (b) If the Grantee dies while employed by the Company or a Subsidiary, or prior to the expiration of a period of time following termination of the Grantee’s employment during which the Options remain exercisable as provided in Section 7(a) or Section 7(c), as applicable, the Options will terminate at the Close of Business on the first Business Day following the expiration of the one-year period which began on the date of the Grantee’s death. (c) Subject to Section 7(b), if the Grantee’s employment with the Company and its Subsidiaries terminates by reason of Disability, then the Options will terminate at the Close of Business on the first Business Day following the expiration of the one-year period which began on the date of termination of the Grantee’s employment. (d) If the Grantee’s employment with the Company and its Subsidiaries is terminated by the Company or a Subsidiary for Cause, then the Options will terminate immediately upon such termination of the Grantee’s employment. In any event in which Options remain exercisable for a period of time following the date of termination of the Grantee’s employment as provided above, the Options may be exercised during such period of time only to the extent the same were exercisable as provided in Section 3 above on such date of termination of the Grantee’s employment. Notwithstanding any period of time referenced in this Section 7 or any other provision of this Section 7 that may be construed to the contrary, the Options will in any event terminate upon the expiration of the Term.

Early Termination of Options. If the Optionee’s position as an Eligible Person is terminated prior to the Expiry Date for a reason other than the Optionee’s termination for just cause, then all rights to exercise this Option will terminate on the day which is the earlier of the Expiry Date and one (1) year after the Termination Date.

Early Termination of Options. Except as provided in this Section 5 and notwithstanding any other provision of this Option to the contrary, this Option shall not be exercisable unless the Optionee, at the time he exercises this Option, has remained continuously in the service of the Corporation as a director since the Grant Date. If the Optionee shall cease to serve as a director of the Corporation for any reason (excluding death, Disability, Retirement and removal for cause), this Option will continue to vest and will remain exercisable for three months immediately succeeding such cessation of service or until the Expiration Date, whichever period is shorter, at the end of which period this Option shall terminate. If the Optionee shall be removed as a director of the Corporation for cause, this Option and all rights under this Option shall immediately terminate upon such cessation of service. If the Optionee shall cease to serve as a director of the Corporation or any Affiliate of the Corporation by reason of death or Disability, this Option will continue to vest and will remain exercisable (in the case of the death of the Optionee, by the person to whom this Option is transferred by will or the laws of descent and distribution) for one year immediately succeeding such cessation of service or until the Expiration Date, whichever period is shorter, at the end of which period this Option shall terminate. If the Optionee shall cease to serve as a director of the Corporation or any Affiliate of the Corporation by reason of Retirement, this Option will continue to vest and will remain exercisable for six months immediately succeeding such cessation of service or until the Expiration Date, whichever period is shorter, at the end of which period this Option shall terminate.

Early Termination of Options. Notwithstanding anything to the contrary herein, all of the Options shall immediately and entirely cease to be exercisable, and shall never again be exercisable to any extent, (a) if the Optionholder's employment with the Company or the Company's acquiror (collectively, "EMPLOYER") terminates due to Fault Cause (as defined in Section 10 below), (b) 30 days after the Optionholder's employment with EMPLOYER terminates other than due to Cause (as defined in Section 10 below), or (c) 365 days after the Optionholder's employment with EMPLOYER terminates due to death or extended disability as defined in Section 10(b) below (but in no event shall any Option be exercisable after the Expiration Date). The above language shall have no effect on and shall not diminish the rights of the Optionholder as to shares issued in respect of Options that have already vested and been exercised; and the above language shall (during the 30-day period 16 described in subsection (b) or the 365-day period described in subsection (c)) have no effect on and not diminish the rights of the Optionholder as to Options that have (as of the date of such termination of employment) already vested.

Early Termination of Options. Notwithstanding the provisions of subsection 2 (a), all right to exercise this Option shall terminate upon the first to occur of the following: (i) The third month anniversary of the date of termination of the Optionee’s services or employment with the Company or an Affiliate for any reason other than death, Disability or Retirement, (ii) The thirty-sixth month anniversary of the date of termination of the Optionee’s services or employment with the Company or an Affiliate on account of death, Disability or Retirement. Any Option not exercised within the one (1) year period after the date of termination of the Optionee’s services or employment with the Company or an Affiliate due to a Disability shall be treated as a Non-Qualified Option. Any Option not exercised within the three month anniversary date after the termination of the Optionee’s services or employment with the Company or an Affiliate on accont of Retirement shall be treated as a Non-Qualified Option. (iii) A finding by the Committee, after full consideration of the facts presented on behalf of both the Company and the Optionee, that the Optionee has breached his or her employment or service contract with the Company or an Affiliate, or has been engaged in disloyalty to the Company or an Affiliate, including, without limitation, fraud, embezzlement, theft, commission of a felony or proven dishonesty in the course of his or her employment or service, or has disclosed trade secrets or confidential information of the Company or an Affiliate. In such event, in addition to immediate termination of the Option, the Optionee shall automatically forfeit all Shares for which the Company has not yet delivered the Share certificates upon refund by the Company of the Option Price. Notwithstanding anything herein to the contrary, the Company may withhold delivery of Share certificates pending the resolution of any inquiry that could lead to a finding resulting in a forfeiture. (iv) The date, if any, set by the Board of Trustees as an accelerated expiration date in the event of the liquidation or dissolution of the Company.

Early Termination of Options. Notwithstanding the provision of subsection 2(a), the right to exercise this Option shall terminate upon the first to occur of the following: (1) Expiration of three months from the date the Optionee's employment or service with the Company or any Corporation which is a parent corporation or a subsidiary corporation with respect to the Company within the meaning of Section 424(e) of (f) of the Code (an "Affiliate") terminates for any reason other than Disability (as defined in Section 22 (e) (3) of the Code) or death; (2) Expiration of one year from the date such employment or service with the Company or its Affiliates terminates due to the Optionee's Disability or death. (3) The date that the employment or service of the Optionee terminates for cause, as determined by the Committee (as defined below), which shall include, without limitation, a determination that the Optionee has breached his or her employment or service contract with the Company or an Affiliate, or has been engaged in disloyalty to the Company or an Affiliate, or has been engaged in disloyalty to the Company or an Affiliate, including, without limitation, fraud, embezzlement, theft, commission of a felony or proven dishonesty in the course of his or her employment or service, or has disclosed trade secrets or confidential information of the Company or an Affiliate (in such event, in addition to immediate termination of the Option, the Optionee shall automatically forfeit all Option Shares for which the Company has not yet delivered the share certificates upon refund by the Company of the Option Price, and notwithstanding anything herein to the contrary, the Company may withhold delivery of share certificates pending the resolution of any inquiry that could lead to a finding resulting in a forfeiture); or (4) The date, if any, set by the Board of Directors as an accelerated expiration date in the event of the liquidation or dissolution of the Company or on the occurrence of a Change of Control (as defined in Section 6). In the event that the right to exercise this Option terminates pursuant to either 2(b)(1) or 2(b)(2), this Option may be exercised during the three-month or one-year period, as the case may be, following the termination of employment or service only with respect to the number of Option Shares as to which this Option was exercisable on the date of such termination of employment or service. Following such termination of employment or service, this Option may not covered by th...

Early Termination of Options. Notwithstanding the provisions of subsection 2(a), rights to exercise this Option shall terminate in accordance with the following: (1) All the rights with respect to any portion of this Option that has not become exercisable shall terminate on the date on which the Optionee ceases to be a director of the Company. (2) All rights with respect to that portion of this Option that has become exercisable shall terminate on the first anniversary of the date on which Optionee ceases to be a director of the Company for any reason, including death. (3) All rights with respect to this Option shall terminate as of the date, if any, set by the Board of Directors as an accelerated expiration date pursuant to Section 10 of the Plan.

Early Termination of Options. Each Option shall terminate on a date determined by the Board of Directors not later than the 90th day after the date on which the Optionee ceases to be a director, officer or employee of the Company, provided that, subject to the provisions of Articles 2 and 12 hereof, if such Optionee ceases to be a director, officer or employee of the Company by reason of the death of such Optionee, all or any of the Common Shares then covered by such Option may be purchased by the legal representative of such Optionee, or by the person or persons to whom the rights of such Optionee under the Option Agreement entered into with such Optionee have passed by will or by operation of the laws of devolution or distribution and descent, until the earlier of (i) the date that is six months after the date of the death of such Optionee, and (ii) the expiry date of such Option set forth in such Option Agreement. A change in the office, position or duties held by such Optionee on the date on which the Option was granted to such Optionee shall not result in the termination of the Option granted to such Optionee provided that such Optionee remains a director, officer or employee of the Company.

Early Termination of Options. If the Optionee’s position as an Eligible Person is terminated prior to the Expiry Date for a reason other than the Optionee’s death, Disability, or termination for just cause, then all rights to exercise this Option will terminate on the day which is the earlier of the Expiry Date and: (i) the 30th day after the Termination Date; or (ii) 6 months after the Termination Date, if the Termination Date occurs within the 6 months following a Change of Control; or (iii) a date up to 12 months after the Termination Date, if the Optionee makes written application to the Committee and receives the written consent of the Committee, which consent may be given at the discretion of the Committee.

Early Termination of Options. Except as provided in this Section 5 and notwithstanding any other provision of this Option to the contrary, this Option shall not be exercisable unless the Optionee, at the time he exercises this Option, has remained continuously in the service of the Corporation (as described in the Plan) since the Grant Date. If the Optionee shall cease to be employed by the Corporation for any reason (excluding death, disability, retirement and termination of employment by the Corporation or any Affiliate for cause), the Optionee may, but only within the period of three months immediately succeeding such cessation of service and in no event after the Expiration Date, exercise this Option to the extent the Optionee was entitled to exercise this Option at the date of cessation. If the Optionee shall cease to work for the Corporation because of termination of employment by the Corporation or Affiliate for cause, all rights under this Option shall expire immediately upon the giving to the Optionee of notice of such termination. In the event of the death of the Optionee while in continuous service of the Corporation or during the three-month period referred to in the immediately preceding paragraph, the person to whom the Option has been transferred by will or by the laws of descent and distribution may, but only to the extent the Optionee was entitled to exercise this Option immediately prior to his death, exercise this Option at any time within six months following the death of the Optionee, but in no event later than ten years from the Grant Date.