EFFECT OF TERMINATION ON STOCK OPTIONS. Under no circumstances shall the Employee be entitled to any Stock Option that has not vested or accrued prior to the Employee’s termination.
EFFECT OF TERMINATION ON STOCK OPTIONS. In the event of any termination of this Agreement and the Employment Term, all stock options held by Employee that are vested prior to the effective date of the termination shall be exercisable in accordance with their terms, and all stock options held by Employee that are not vested prior to the effective date of the termination shall lapse and be void. Also, in the event of any termination of Employee's employment pursuant to Section 4.1.1 or Section 4.2.1, then, in addition to any other rights of Employee hereunder, Employee shall receive, within thirty (30) days after such termination, a lump sum cash distribution equal to: (a) the number of shares of Employer's common stock that is subject to options held by Employee which are not vested on the date of termination of employment; multiplied by (b) the difference between: (i) the closing price of a share of Employer's common stock as of the day prior to the effective date of termination of employment (or, if the United States securities trading markets are closed on that date, on the last preceding date on which the United States securities trading markets were open for trading), and (ii) the applicable exercise price(s) of such non-vested shares.
EFFECT OF TERMINATION ON STOCK OPTIONS. In the event of any termination of this Agreement and the Employment Term pursuant to Section 4.1.2 or Section 4.2, all stock options held by Employee that are vested prior to the effective date of the termination shall be exercisable in accordance with their terms, and all stock options held by Employee that are not vested prior to the effective date of the termination shall lapse and be void. All stock options granted to Employee shall provide (through amendment or otherwise) that, in the event of any termination of Employee's employment pursuant to Section 4.1.1, then, in addition to any other rights of Employee hereunder, all such options shall become fully vested and shall be exercisable in accordance with their respective terms upon such a termination for ninety (90) days immediately following the date of termination.
EFFECT OF TERMINATION ON STOCK OPTIONS. (a) In the event of (i) the termination of your employment by the Company for Cause, or (ii) your termination of your employment prior to the end of the Original Term other than for Good Reason and other than reason of death of Disability, the stock options granted to you under Section 3, to the extent unexercised, shall immediately terminate and be without further force or effect.
EFFECT OF TERMINATION ON STOCK OPTIONS. In the event of any termination of this Agreement and the Employment Term, all stock options held by Employee that are vested prior to the effective date of the termination shall be exercisable in accordance with their terms, and all stock options held by Employee that are not vested prior to the effective date of the termination shall lapse and be void. Also, in the event of any termination of Employee's employment pursuant to Section 4.1.1 or Section 4.2.1, then, in addition to any other rights of Employee hereunder, Employee shall receive, within thirty (30) days after such termination, a lump sum cash distribution equal to: (a) the number of shares of Employer's common stock that is subject to options held by Employee which are not vested on the date of termination of employment; multiplied by (b) the difference between: (i) the closing price of a share of Employer's common stock on the New York Stock Exchange as reported by The Wall Street
EFFECT OF TERMINATION ON STOCK OPTIONS. Upon termination all stock options shall be treated in accordance with the provisions of the Employer's option plan, as same may be amended from time to time. Employee acknowledges that for the purposes of said plan the effective date of termination is the date specified in the notice (a and b above), established by mutual agreement (c above) or the date of death (d above) and shall not be affected by the subsequent decision of any Court or other body that the termination was improper, unlawful, unfair, without sufficient notice or otherwise deficient in any respect. Notwithstanding the foregoing and the terms and conditions of the option plan, if, prior to Employees one year anniversary of employment:
EFFECT OF TERMINATION ON STOCK OPTIONS. In the event of any termination of this Agreement and the Employment Term, all stock options held by Employee that are vested prior to the effective date of the termination shall be exercisable in accordance with their terms, and all stock options held by Employee that are not vested prior to the effective date of the termination shall lapse and be void. Also, in the event of any termination of Employee's employment pursuant to Section 4.1.1 or Section 4.2.1, then, in addition to any other rights of Employee hereunder, Employee shall receive, within thirty (30) days after such termination, a lump sum cash distribution equal to: (a) the number of shares of Employer's common stock that is subject to options held by Employee which are not vested on the date of termination of employment; multiplied by (b) the difference between: (i) the closing price of a share of Employer's common stock on the New York Stock Exchange as reported by The Wall Street Employer________(Initial Here) 5 Employee________ Journal as of the day prior to the effective date of termination of employment (or, if the New York Stock Exchange is closed on that date, on the last preceding date on which the New York Stock Exchange was open for trading), and (ii) the applicable exercise price(s) of such non-vested shares.
EFFECT OF TERMINATION ON STOCK OPTIONS. Any unvested stock options as of the date of termination of employment shall expire as of the effective date of termination and no stock options shall continue to vest during the notice period, if any. All vested options shall expire immediately at the close of business on the effective date of termination if the termination is b. above or for a reason deemed to be gross misconduct, or poor performance unless exercised prior to that time. In all other cases of termination, vested options shall expire thirty (30) days following the effective date of termination, unless exercised prior to that time. The effective date of termination is the date specified in the notice (a and b above), established by mutual agreement (c above) or the date of death (d above) and shall not be affected by the subsequent decision of any Court or other body that the termination was improper, unlawful or otherwise deficient in any respect.
EFFECT OF TERMINATION ON STOCK OPTIONS. Notwithstanding any contrary provisions contained in any stock option agreement evidencing stock options granted to Mxxxxxxxxxx, as of the effective date of any termination pursuant to Section 9(a), (b), (d), or (f), (i) Rent-Way will vest Mxxxxxxxxxx in any outstanding unvested stock options of Rent-Way granted to Mxxxxxxxxxx prior to such termination and (ii) the period during which Mxxxxxxxxxx shall have the right to exercise such vested options shall be extended by Rent-Way to the expiration of the term of such options assuming no such termination had occurred.
EFFECT OF TERMINATION ON STOCK OPTIONS. Upon termination of the Service Provider's employment pursuant to Section 4.1 the Service Provider will be entitled to exercise the Options which have already vested in accordance with Section 2.4 (but not any Options which have not vested) during the period of 60 days following such termination or resignation.
