Exercise Following Termination of Service. Subject to the terms of the Plan and this Agreement, the Option, to the extent vested, shall remain exercisable as follows:
Exercise Following Termination of Service. If the Optionee’s service with the Company terminates for any reason, or no reason, whether voluntarily or involuntarily, with or without cause, other than death, disability or retirement, any portion of the Option granted hereunder held by such person which is not then exercisable shall terminate and any portion of the Option which is then exercisable may be exercised within thirty (30) consecutive days after the date of such cessation.
Exercise Following Termination of Service. If the Participant incurs a Termination of Service for any reason other than death or Disability or for Cause, the Option held by the Participant at the time of such Termination of Service, to the extent vested at such time, may be exercised at any time before the earlier of (i) the three (3) month anniversary of the date of his or her Termination of Service and (ii) the time such Option would otherwise expire. Except as set forth in this Section 3(c), to the extent the Option was not exercisable on the date of the Participant’s Termination of Service, such portion of the Option shall terminate.
Exercise Following Termination of Service. If the Optionee’s service as an employee of the Corporation terminates for any reason other than death, disability or retirement, the Option (to the extent it has not previously been exercised and is then exercisable in accordance with the provisions of paragraph 4 above) will terminate 30 days after such termination of service. The foregoing notwithstanding, the Option shall cease to be exercisable on the date of such termination if the termination is for cause or if the Optionee upon such termination becomes an employee, director or consultant of a person who is in direct competition with the Corporation. For this purpose, “cause” shall mean conviction of a felony, misappropriation of assets of the Corporation or any subsidiary, continued or repeated insobriety, continued or repeated absence from service during the usual working hours of the Optionee’s position for reason other than disability or sickness, or refusal to carry out the reasonable directions of the Corporation’s executive officers or of the Board.
Exercise Following Termination of Service. (a) Except as provided in subsection (b) of this paragraph or in paragraph 10 below, if the Optionee's service with the Company terminates for any reason, or no reason, whether voluntarily or involuntarily, with or without cause, other than death, disability or retirement, any portion of the Option granted hereunder held by such person which is not then exercisable shall terminate and any portion of the Option which is then exercisable may be exercised within ninety (90) consecutive days after the date of such cessation.
(b) If, prior to a Change in Control (as defined in paragraph 22 below) or more than twelve months after a Change in Control, the Company terminates the Optionee’s employment other than for Cause (as defined in paragraph 22 below), death or disability, or the Optionee resigns for Good Reason (as defined in paragraph 22 below) within 30 days following the occurrence of any of the events constituting a Good Reason event, to the extent not already vested, a portion of the Option related to an additional 25% of the shares of Stock originally subject to the Option shall automatically become fully vested and exercisable as of the date of termination of employment without any further action on the part of the Board of Directors of the Company (“Board”), the stockholders or the Committee; provided, that the Optionee executes a release agreement, substantially in the form attached hereto as Exhibit A (and revised, as determined to be appropriate by the Company, to reflect changes in the law to ensure the enforceability of such agreement) (“Release”), and the Optionee complies with the covenant set forth in subsection (c) below. The portion of the Option vested under this provision may be exercised within ninety (90) consecutive days after the date of termination of Optionee’s employment.
(c) The Optionee agrees that eligibility for the accelerated vesting set forth in subsection (b) is contingent on his agreement and compliance with the requirement that for a period of one year the Optionee does not accept employment nor an engagement as a consultant with a competitor (including Intersil Corporation, International Rectifier Corporation, Maxim Integrated Products, Analog Devices, Inc., Linear Technology Corporation, National Semi-Conductor Company, Micrel, Inc., Texas Instruments, Inc., any other company in the peer group of competitors used in connection with the performance based-options issued to the Optionee by the Company, and any other company...
Exercise Following Termination of Service. In the event that the Optionee ceases to provide services to the Company, that portion of the Option that is not or does not become then exercisable shall immediately terminate and that portion of the Option that is or becomes exercisable at the time of the Optionee’s termination of service shall terminate as follows:
(i) If the Optionee’s termination of service is due to his/her death or permanent disability, the Option (to the extent exercisable at the time of the Optionee’s termination of service) shall be exercisable for a period of [six months] following such termination of service, and shall thereafter terminate;
(ii) If the Optionee’s termination of service to the Company is for Cause, the Option shall terminate in full as of the date of such termination of service;
(iii) If the Optionee voluntarily terminates his/her service to the Company, the Option (to the extent exercisable at the time of the Optionee’s termination) shall be exercisable for a period of [60 days] following such termination of service, and shall thereafter terminate; and
(iv) If the Optionee’s termination of service is for any other reason, the Option (to the extent exercisable at the time of the Optionee’s termination of service) shall be exercisable for a period of [60 days] following such termination of service, and shall thereafter terminate.] Notwithstanding the foregoing, no provision in this Section 2(e) shall extend the exercise period of an Option beyond its original term set forth in Section 2(b).
Exercise Following Termination of Service. If the Participant incurs a Termination of Service for any reason other than the Participant’s death or Disability or for Cause, the Option held by the Participant at the time of such Termination of Service, to the extent vested at such time, may be exercised at any time before the earlier of (i) the three (3) month anniversary of the date of the Termination of Service and (ii) the time such Option would otherwise expire; provided that if the Participant dies within such three-month period, the Options (to the extent vested) may be exercised by the Participant’s designated Beneficiary, estate or the person to whom such Option is transferred by will or the applicable law of descent and distribution, at any time before the earlier of (i) the twelve (12) month anniversary of the date of the Termination of Service and (ii) the time such Option would otherwise expire. Except as set forth in this Section 3(c), to the extent the Option was not exercisable on the date of the Participant’s Termination of Service, such portion of the Option shall terminate.
Exercise Following Termination of Service. If Optionee's service with the Corporation terminates for any reason other than death, Disability, or Retirement, the Option (to the extent it has not previously been exercised and is then exercisable) may be exercised within the period of three (3) consecutive months commencing immediately following the date of such termination (but not later than the termination date set forth in Section 6(a) above). The foregoing notwithstanding, the Option shall cease to be exercisable on the date of such termination if the termination is for cause or if Optionee upon such termination becomes an employee, director or consultant of any person or entity who is in direct competition with the Corporation. For this purpose, "cause" shall mean (a) the willful breach, habitual neglect, or habitual failure to properly perform the duties Optionee is required to perform as an employee of the Corporation, (b) breach of Optionees obligations and covenants under Section 18 hereof, (c) participation in any fraud or crime against the Corporation; (d) any intentional or willful act or omission that materially injures the Corporation, or was intended to injure the Corporation, as
Exercise Following Termination of Service. (i) If the Optionee ceases to be a non-employee director of any member of the Group on account of Retirement (as defined below), then the Option shall remain exercisable until the earlier of the third anniversary of the date the Optionee’s Service terminates or the Expiration Date, and shall then expire.
Exercise Following Termination of Service
