Exercise After Termination of Employment or Death Sample Clauses

Exercise After Termination of Employment or Death. If for any reason other than permanent and total disability or death an Optionee ceases to be employed by or to be a consultant or director of the Company, or a Subsidiary, Options held at the date of such termination (to the extent then exercisable) may be exercised, in whole or in part, at any time within three (3) months after the date of such termination or such lesser period specified in the Option Agreement (but in no event after the earlier of the expiration date of the Option as set forth in the Agreement. If an Optionee becomes permanently and totally disabled (within the meaning of Section 11(e)(3) of the Internal Revenue Code of 1986, as amended from time to time, and any successor statute, or dies while employed by the Company, or a Subsidiary, (or, if the Optionee dies within the period that the Option remains exercisable after termination of employment), Options then held (to the extent then exercisable) may be exercised by the Optionee, the Optionee's personal representative, or by the person to whom the Option is transferred by will or the laws of descent and distribution, in whole or in part, at any time within one year after the disability or death or any lesser period specified in the Option Agreement (but in no event after the earlier of the expiration date of the Option as set forth in the Agreement.
Sample 1Sample 2
AutoNDA by SimpleDocs
Exercise After Termination of Employment or Death. If for any reason other than permanent and total disability or death an Optionee ceases to be employed by or to be a consultant or director of the Company, or a Subsidiary, Options held at the date of such termination (to the extent then exercisable) may be exercised, in whole or in part, at any time within three (3) months after the date of such termination or such lesser period specified in the Option Agreement (but in no event after the earlier of the expiration date of the Option as set forth in the Agreement. If an Optionee becomes permanently and totally disabled (within the meaning of Section 11(e)(3) of the Internal Revenue Code of 1986, as amended from time to time, and any successor statute, or dies while employed by the Company, or a Subsidiary, (or, if the Optionee dies within the period that the Option remains exercisable after termination of employment), Options then held
Sample 1Sample 2
Exercise After Termination of Employment or Death. If your term as a director of the Company is terminated for any reason other than death or permanent and total disability, you may exercise this option, as to all or any of the shares you were entitled to purchase at the date of termination, at any time within three months after the date of such termination (but in no event after the Expiration Date), but not thereafter. If you die or become permanently or totally disabled while a director of the company (or, in the case of death, within three months of the termination of your term), your personal representative, heirs or legatees may exercise this option, with respect to all or any of the shares which you were entitled to purchase immediately prior to your death or disability, at any time within one year after your death or disability (but in no event after the Expiration Date), but not thereafter.
Sample 1
Exercise After Termination of Employment or Death. Unless the Board of Directors expressly determines otherwise prior to the expiration of the 30-day period described below, upon termination of employment of Optionee with the Corporation or any subsidiary thereof (collectively, the "Employer") for any reason other than death, retirement (as hereinafter defined) or disability (as hereinafter defined), Optionee may not exercise this Option more than thirty days after the date of such termination of employment. For purposes of this SECTION 4.5, "disability" and "retirement" shall be determined in accordance with the disability and retirement policies of the Employer in effect on the date any such determination is made. Notwithstanding the foregoing, this Option may not be exercised following the date of termination of Optionee's employment for Cause, as hereinafter defined. For purposes of this Agreement, termination for "Cause" shall mean termination of Optionee's employment by the Employer because of (A) any act or omission that constitutes a material and willful breach by Optionee of any of Optionee's obligations or agreements under his employment agreement, if any, with the Employer or the willful failure or refusal of Optionee to perform any duties reasonably required by the Board of Directors after notification by the Employer of such breach, failure or refusal and failure of Optionee to correct such breach, failure or refusal within ten days of such notification (other than by reason of the incapacity of Optionee due to physical or mental illness) which breach, failure or refusal is materially injurious to the financial condition or business of the Employer or its affiliates, or (B) the committing by Optionee of a felony, or the perpetration by Optionee of a dishonest act or common law fraud against the Employer or any of its affiliates which is materially injurious to the financial condition or business of the Employer or its affiliates, or (C) the failure of Optionee to substantially and effectively discharge his duties to the Employer, as determined by the Board
Sample 1
Exercise After Termination of Employment or Death. The provisions covering the exercise of this Option following termination of your employment are as follows:
Sample 1

Related to Exercise After Termination of Employment or Death

  • Exercise After Termination of Employment (A) Except as otherwise provided in this Agreement, the OPTION shall be exercisable only while the OPTIONEE is in the employment of the COMPANY and then only if the OPTION has become exercisable by its terms, and if not exercisable by its terms at the time the OPTIONEE ceases to be in the employment of the COMPANY, shall immediately expire on the date of termination of employment.

  • Effect of Termination of Employment or Death If the Employee goes on leave of absence for a period of greater than twelve months (except a leave of absence approved by the Board of Directors or the Committee) or ceases to be an employee of the Company or a Subsidiary for any reason except death, the portion of the SAR which is unexercisable on the date on which the Employee ceased to be an Employee or has been on a leave of absence for over twelve months (except a leave of absence approved by the Board or Committee) shall expire on such date and any unexercised portion of the SARs which was otherwise exercisable on such date shall expire at the earlier of (i) the expiration of this SAR in accordance with the term for which the SAR was granted, or (ii) three months (one year in the case of termination by reason of Disability of the Employee under the terms of the Plan) from such date, except in the case of an Employee who is an "Approved Retiree" as defined below. If Employee is an Approved Retiree, then the SAR shall expire at the sooner to occur of (i) the expiration of such SAR in accordance with its original term, (ii) the expiration of five years from the date of retirement, or (iii) with respect to SARs granted less than one year before the date the Approved Retiree retires, such retirement date, except not with respect that portion of the SARs equal to the number of such shares multiplied by the ratio of (a) the number of days between the Grant Date and the retirement date inclusive, over (b) the number of days on and after the Grant Date and before the first anniversary of the Grant Date. In the event of the death of Employee without Approved Retiree status during the three month period following termination of employment or a leave of absence over twelve months (except a leave of absence approved by the Board or Committee), the SAR shall be exercisable by the Employee's personal representative, heirs or legatees to the same extent and during the same period that the Employee could have exercised the SAR if the Employee had not died. In the event of the death of Employee while an employee or while an Approved Retiree, the SAR (if the waiting period has elapsed) shall be exercisable in its entirety by the Employee's personal representatives, heirs or legatees at any time prior to the expiration of one year from the date of the death of the Employee, but in no event after the term for which the SAR was granted. For purposes of this Agreement, an "Approved Retiree" is any SAR holder who (i) terminates employment by reason of a Disability, or (ii) (A) retires from employment with the Company with the specific approval of the Committee on or after such date on which the SAR holder has attained age 55 and completed 10 Years of Service, and (B) has entered into and has not breached an agreement to refrain from Engaging in Competition in form and substance satisfactory to the Committee; and if the Committee subsequently determines, in its sole discretion, that an Approved Retiree has violated the provisions of the Agreement to refrain from Engaging in Competition, or has engaged in willful acts or omissions or acts or omissions of gross negligence that are or potentially are injurious to the Company's operations, financial condition or business reputation, such Approved Retiree shall have ninety (90) days from the date of such finding within which to exercise any SARs or portions thereof which are exercisable on such date, and any SARs or portions thereof which are not exercised within such ninety (90) day period shall expire and any SARs or portion thereof which are not exercisable on such date shall be cancelled on such date.

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.

  • Payments Upon Termination of Employment (a) If Executive’s employment with the Company is terminated by reason of:

  • Termination of Employment Due to Retirement In the event of the Retirement of the Participant after nine months of the Performance Cycle have elapsed, the Participant’s Performance Units shall be settled based on the performance for the Performance Cycle and payable on a pro-rata basis as determined and certified by the Board after the close of the Performance Cycle as described below. Subject to the negative discretion of the Board, the Participant will be entitled to receive a payment equal to the product of (i) the pro-rata vesting percentage equal to the days of Participant’s Employment during the Performance Cycle divided by the total days in the Performance Cycle and (ii) the Payout Value. Such payment shall be made as soon as administratively feasible following the Board’s determination under Paragraph 2 and, in all cases, the payment shall be made within the first calendar year following the end of the Performance Cycle. If, in accordance with the Board’s determination under Paragraph 2, the Payout Value is zero, the Participant shall immediately forfeit any and all rights to the Performance Units. Upon the vesting and/or forfeiture of the Performance Units pursuant to this Paragraph 6 and the making of the related cash payment, if any, the rights of the Participant and the obligations of the Company under this Award Agreement shall be satisfied in full. The death of the Participant following Retirement but prior to the close of the Performance Cycle shall have no effect on this Paragraph 6.

  • Termination of Employment Due to Death The Officer’s employment with the Bank shall terminate, automatically and without any further action on the part of any party to this Agreement, on the date of the Officer’s death. In such event, the Bank shall pay and deliver to his estate and surviving dependents and beneficiaries, as applicable, the Standard Termination Entitlements.

  • Termination of Employment Due to Death or Disability 4.1. In the event of your termination of employment due to death or permanent disability (within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986 (the “Code”)) during the Initial Term or the Additional Term, on the date of such termination each outstanding and unvested equity award held by you that, pursuant to its terms, vests solely based upon providing continued service to Skyworks, including, without limitation, stock options, restricted stock awards (including restricted stock unit awards), and performance-based equity awards that are earned but unissued, shall automatically become vested, exercisable, and issuable, and any forfeiture restrictions thereon shall immediately lapse, as applicable, in each case, with respect to one-hundred percent (100%) of that number of then-unvested shares underlying such equity award.

  • Competition After Termination of Employment The Company shall not pay any benefit under this Agreement if the Executive, without the prior written consent of the Company and within 2 years from the Executive’s Termination of Employment, engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, or becomes associated with, in the capacity of employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a 50 mile radius) of the business of the Company, which enterprise is, or may deemed to be, competitive with any business carried on by the Company as of the date of termination of the Executive’s employment or retirement. This section shall not apply following a Change in Control.

  • Termination for Retirement or Death If Executive’s employment is terminated by reason of his retirement or death following a Change in Control, Executive’s benefits shall be determined in accordance with Company’s retirement, survivor’s benefits, insurance, and other applicable programs then in effect, and Executive shall not be entitled to any other benefits provided by this Agreement.

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

Time is Money Join Law Insider Premium to draft better contracts faster.