Exercise After Termination of Service. Termination of Service for any reason other than death: if non-vested, the Option expires immediately and if vested, the Option remains exercisable for thirty (30) days following the Optionee’s Termination of Service with the Board. Termination of Service due to death: the entire Option, whether vested or non-vested, is exercisable by the Optionee’s Beneficiary for six (6) months after the Optionee’s Termination of Service. In no event may this Option be exercised after the Expiration Date as provided above. By signing below, the Optionee agrees that this Non-Qualified Stock Option Award is granted under and governed by the terms and conditions of the Plan and this Agreement. Optionee Universal Insurance Holdings, Inc. By: Title: Date: Date:
Exercise After Termination of Service. After the Optionee ceases to be an Employee of the Corporation or any Subsidiary of the Corporation, as the case may be, whether as a result of voluntary termination, termination by the Corporation or such Subsidiary or by the normal retirement, early retirement or disability (excluding Permanent Disability as defined in Section 5 below) of the Optionee, only such Options that have vested and become exercisable on or before the Date of Termination (as defined in the Employment Agreement) may be exercised by the Optionee, his attorney-in-fact, or his guardian, as appropriate, at any time after the date on which the Optionee ceases to be an Employee but no later than the earlier of ninety (90) days after the Optionee ceases to be employed by the Corporation or such Subsidiary or the last day of the fixed term of the Option; provided, however, that, in the event that the employment of Optionee is terminated for Cause (as defined in the Employment Agreement), any then outstanding Options held by Optionee, whether or not vested and exercisable by Optionee as of the date of such termination of employment for Cause, shall thereupon be canceled and terminated in their entirety and be of no further force or effect and Optionee shall have no further rights thereto or thereunder or under this Agreement.
Exercise After Termination of Service. After an Optionee’s Termination of Service as a Director, an Option may be exercised only with respect to the number of Shares which the Optionee could have acquired by an exercise of the Option immediately before the Termination of Service, but in no event after the expiration date of the Option as specified in Section 3. The right to exercise will expire at the earlier of the expiration of the Option Period or one year after the Termination of Service. Notwithstanding any provision of this Agreement, if the Committee determines in the particular case that the Director’s Termination of Service occurred as a result of removal for cause, the right to exercise the Option shall immediately terminate upon Termination of Service.
Exercise After Termination of Service. After an Optionee's Termination of Service, an Option may be exercised only with respect to the number of Shares which the Optionee could have acquired by an exercise of the Option immediately before the Termination of Service. Any Option exercised under this Section may be exercised by the legal representative of the estate of the Optionee or by the person or persons who acquire the right to exercise such Option by bequest or inheritance. If the Committee determines in the particular case that there was Cause for Termination of Service, the right to exercise the Option shall immediately terminate upon Termination of Service.
Exercise After Termination of Service. The Option may not be exercised after a Termination of Service (as defined in the Plan), except as follows:
Exercise After Termination of Service. After an Optionee’s Termination of Service due to death, Disability or Retirement on or after age 65, an Option may be exercised only with respect to the number of Shares which the Optionee could have acquired by an exercise of the Option immediately before the Termination of Service, but in no event after the expiration date of the Option as specified in Section 3. The right to exercise will expire at the earlier of the expiration of the Option Period or one year after
Exercise After Termination of Service. If the Grantee’s Service ends prior to the Expiration Date and the termination of his or her Service is not on account of his death, Retirement or Disability, the SARs granted hereunder which are vested and exercisable as of the date of Grantee’s termination of Service shall lapse and cease to be exercisable on the earlier of:
Exercise After Termination of Service. After an Optionee’s Termination of Service, an Option may be exercised only with respect to the number of shares of Stock which the Optionee could have acquired by an exercise of the Option immediately before the Termination of Service, but in no event after the expiration date of the Option as specified in Section 4. The right to exercise will expire at the earlier of the expiration of the Option Period or one year after the Optionee’s Termination of Service. Any Option exercised under this Section may be exercised by the legal representative of the estate of the Optionee or by the person or persons who acquire the right to exercise such Option by bequest or inheritance. If the Compensation Committee determines in the particular case that there was Cause for Termination of Service, the right to exercise the Option shall immediately terminate upon Termination of Service.
Exercise After Termination of Service. Termination of Service for any reason: any non-vested portion of the Option expires immediately; Termination of Service due to death or Disability: vested portion of the Option is exercisable by the Optionee (or, in the event of the Optionee’s death, the Optionee’s Beneficiary) for one year after the Optionee’s Termination; Termination of Service for any reason other than death or Disability: vested portion of the Option is exercisable for a period of ninety (90) days following the Optionee’s Termination; provided, however, that all Options, whether vested or unvested, shall terminate immediate for termination for Cause, as defined in the Optionee’s employment agreement. In no event may this Option be exercised after the Expiration Date as provided above. By signing below, the Optionee agrees that this Non-Qualified Stock Option Award is granted under and governed by the terms and conditions of the Company’s 2009 Omnibus Incentive Plan and the attached Terms and Conditions. Participant China Architectural Engineering, Inc. By: Title: Luo Xxx Xx, CEO Date: Date: TERMS AND CONDITIONS OF STOCK OPTION AWARD
Exercise After Termination of Service. After an Optionee’s Termination of Service due to death, Disability or Retirement on or after age 65, an Option may be exercised only with respect to the number of Shares which the Optionee could have acquired by an exercise of the Option immediately before the Termination of Service, but in no event after the expiration date of the Option as specified in Section 3. The right to exercise will expire at the earlier of the expiration of the Option Period or one year after the Employee’s death, Disability, or Retirement.1 Any Option exercised under this Section may be 1 Where an Optionee has received Incentive Stock Options and terminates service due to Retirement, the right to exercise will expire three months after the Optionee's Retirement; provided, however, if an Incentive Stock Option is exercised by the legal representative of the estate of the Employee or by the person or persons who acquire the right to exercise such Option by bequest or inheritance. If the Committee determines in the particular case that there was Cause for Termination of Service, the right to exercise the Option shall immediately terminate upon Termination of Service. Absent death, Disability, Retirement, or a finding of Cause, the Option shall remain exercisable for the shorter of the Option Period or three months following Termination of Service.
