Common use of Employment Termination Due to Transfer of Business to Successor Employer Clause in Contracts

Employment Termination Due to Transfer of Business to Successor Employer. If the Grantee’s service with the Company or any of its affiliates terminates as a result of employment by a successor employer to which the Company has transferred a business operation, then any unexercisable Options shall become immediately exercisable, and any unexercised Options shall expire 5 years after termination of service or on the Expiration Date, whichever date occurs first, provided however, that if the Grantee dies less than 2 years before the earlier of such dates, then the Options shall not expire until 2 years after the Grantee’s death.

Employment Termination Due to Transfer of Business to Successor Employer. If the Grantee’s service with the Company or any of its affiliates terminates as a result of employment by a successor employer to which the Company has transferred a business operation, then any unexercisable Options shall become immediately exercisable, and any unexercised Options shall expire 5 years after termination of service or on the Expiration Date, whichever date occurs first, provided however, that if the Grantee dies less than 2 years before the earlier of such dates, then the Options shall not expire until 2 years after the Grantee’s death.

Employment Termination Due to Transfer of Business to Successor Employer. If the Grantee’s 's service with the Company or any of its affiliates terminates as a result of employment by a successor employer to which the Company has transferred a business operation, then any unexercisable Options shall become immediately exercisable, and any unexercised Options shall expire 5 years after termination of service or on the Expiration Date, whichever date occurs first, provided however, that if the Grantee dies less than 2 years before the earlier of such dates, then the Options shall not expire until 2 years after the Grantee’s 's death.