EFFECT OF TERMINATION OF RELATIONSHIP. (a) If the Participant ceases to be employed by Tracker for any reason other than breach by Tracker of any written employment agreement in effect between the Participant and Tracker, the Option shall terminate to the extent not vested. Notwithstanding the vesting schedule in Schedule II, if Tracker has breached any written employment agreement with the Participant, and as a result Participant's employment is terminated, the Option shall become fully vested upon such termination of employment. In no event may any Option be exercised by any person after the Expiration Date.
Appears in 7 contracts
Samples: Incentive Stock Option Award Agreement (Tracker Corp of America), Incentive Stock Option Award Agreement (Tracker Corp of America), Non Qualified Stock Option Award Agreement (Tracker Corp of America)
