Common use of Effect of Separation from Service Clause in Contracts

Effect of Separation from Service. If the Option Holder ceases to be an employee of the Company for any reason, including cessation by death or Disability, the effect of such termination of employment on all or any portion of this Option is as provided below. Notwithstanding anything below to the contrary, in no event may the Option be exercised after the Expiration Date. (a) If the Option Holder’s employment is terminated for Cause, the Option will immediately be forfeited as of the time of such removal. (b) If the Option Holder ceases to be an employee of the Company due to the Option Holder’s resignation or termination of employment by the Company not for Cause, the portion of this Option which was otherwise exercisable pursuant to Section 4 on the date of such termination of employment may be exercised by the Option Holder at any time prior to 5:00 P.M., Central Standard Time, on the thirtieth (30th) calendar day following the effective date of the Option Holder’s termination of employment. If such thirtieth (30th) day is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such thirtieth (30th) day. (c) If the Option Holder ceases to be an employee of the Company due to the Option Holder’s death or Disability, the Option may be exercised by the Option Holder at any time prior to 5:00 P.M., Central Standard Time, on the ninetieth (90th) calendar day following the effective date of the Option Holder’s termination of employment. If such ninetieth (90th) day is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such ninetieth (90th) day.

Effect of Separation from Service. If the Option Holder ceases to be an employee of the Company for any reason, including cessation by death death, Disability or DisabilityRetirement, the effect of such termination of employment on all or any portion of this Option is as provided below. Notwithstanding anything below to the contrary, in no event may the Option be exercised after the Expiration Date. (a) If the Option Holder’s employment is terminated for Cause, the Option will immediately be forfeited as of the time of such removal. (b) If the Option Holder ceases to be an employee of the Company due to the Option Holder’s resignation or termination of employment by the Company not for Cause, the portion of this Option which was otherwise exercisable pursuant to Section 4 on the date of such termination of employment may be exercised by the Option Holder at any time prior to 5:00 P.M., Central Standard Time, on the thirtieth (30th) calendar day following the effective date of the Option Holder’s termination of employment. If such thirtieth (30th) day is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such thirtieth (30th) day. (c) If the Option Holder ceases to be an employee of the Company due to the Option Holder’s death or Disability, the Option may be exercised by the Option Holder at any time prior to 5:00 P.M., Central Standard Time, on the ninetieth (90th) calendar day following the effective date of the Option Holder’s termination of employment. If such ninetieth (90th) day is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such ninetieth (90th) day. (d) If the Option Holder ceases to be an employee of the Company due to the Option Holder’s Retirement, the Option may be exercised by the Option Holder at any time prior to 5:00 P.M., Central Standard Time, on the third (3rd) anniversary of the effective date of the Option Holder’s Retirement. If such third (3rd) anniversary is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such third (3rd) anniversary.

Effect of Separation from Service. If Except as may otherwise be provided in the employment agreement between the Option Holder and the Company, if the Option Holder ceases to be an employee of the Company for any reason, including cessation by death or Disability, the effect of such termination of employment on all or any portion of this Option is as provided below. Notwithstanding anything below to the contrary, in no event may the Option be exercised after the Expiration Date. (a) If the Option Holder’s 's employment is terminated for Cause, the Option will immediately be forfeited as of the time of such removaltermination. (b) If the Option Holder ceases to be an employee of the Company due to the Option Holder’s 's resignation or termination of employment by the Company not for Cause, the portion of this Option which was otherwise exercisable pursuant to Section 4 on the date of such termination of employment may be exercised by the Option Holder at any time prior to 5:00 P.M., Central Standard Time, on the thirtieth (30th) calendar day following the effective date of the Option Holder’s termination of employment. If such thirtieth (30th) day is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such thirtieth (30th) day. (c) If the Option Holder ceases to be an employee of the Company due to the Option Holder’s death or Disability, the Option may be exercised by the Option Holder at any time prior to 5:00 P.M., Central Standard Time, on the ninetieth (90th) calendar day following the effective date of the Option Holder’s 's termination of employment. If such ninetieth (90th) day is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such ninetieth (90th) day. (c) If the Option Holder ceases to be an employee of the Company due to the Option Holder's death or Disability or if the Option Holder dies during the ninety (90) day period provided above, the Option may be exercised by the Option Holder (or his or her beneficiary) at any time prior to 5:00 P.M., Central Time, on the first anniversary date of the effective date of the Option Holder's termination of employment. If such anniversary date is not a business day, then the Option will expire at 5:00 P.M., Central Time, on the first business day immediately following such first anniversary date.

Effect of Separation from Service. If the Option Holder Optionee ceases to be an employee of the Company Service Provider for any reason, including cessation by death or Disability, the effect of such termination of employment on all or any portion of this Option is as provided below. Notwithstanding anything below to the contrary, in no event may the Option be exercised after the Expiration Date. (a) If Optionee's position as a Service Provider with the Option Holder’s employment Company or any of its Affiliates is terminated by the Company or such Affiliate for Cause, the Option will immediately be forfeited as of the time of such removaltermination. (b) If the Option Holder Optionee ceases to be an employee of a Service Provider to the Company or any of its Affiliates due to the Option Holder’s Optionee's resignation or termination of employment by the Company not for or such Affiliate without Cause, the portion of this Option which was otherwise exercisable pursuant to Section 4 on the date of such resignation or termination of employment may be exercised by the Option Holder Optionee at any time prior to 5:00 P.M., Central Standard Time, on the thirtieth (30th) calendar day following the effective date of the Option Holder’s termination of employment. If such thirtieth (30th) day is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such thirtieth (30th) day. (c) If the Option Holder ceases to be an employee of the Company due to the Option Holder’s death or Disability, the Option may be exercised by the Option Holder at any time prior to 5:00 P.M., Central Standard Time, on the ninetieth (90th) calendar day following the effective date of the Option Holder’s termination of employmentOptionee's resignation or termination. If such ninetieth (90th) day is not a business day, then the Option will expire at 5:00 P.M., Central Standard Time, on the first business day immediately following such ninetieth (90th) day. (c) If Optionee ceases to be a Service Provider with the Company or any of its Affiliates due to Optionee's death or Disability, the Option may be exercised by Optionee at any time prior to 5:00 P.M., Central Time, on the 365th calendar day following the effective date of Optionee's cessation as a Service Provider. If such 365th day is not a business day, then the Option will expire at 5:00 P.M., Central Time, on the first business day immediately following such 365th day.