Common use of Exercise Period Following Termination of Employment Clause in Contracts

Exercise Period Following Termination of Employment. Unless the Option has earlier terminated, if the Optionee no longer serves as a consultant to the Company is terminated, other than as a result of the causes set forth in clauses (b), (c) or (d) below: (i) this Option shall terminate immediately upon such termination to the extent of any unvested shares, and all unvested shares shall be forfeited, and (ii) this Option shall be exercisable until the Expiration Date with respect to any vested shares, but in no event after the Expiration Date. Unless sooner terminated, this Option shall terminate in its entirety upon the expiration of the applicable exercise period noted above in this Section 4(a).

Appears in 1 contract

Samples: Consultant Stock Option Grant Agreement (Cdknet Com Inc)

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Exercise Period Following Termination of Employment. Unless the Option has earlier terminated, if the Optionee no longer serves as a consultant to Optionee's employment with the Company is terminated, other than as a result of the causes set forth in clauses (b), (c) or (d) below: (i) this Option shall terminate immediately upon such termination of employment to the extent of any unvested shares, and all unvested shares shall be forfeited, and (ii) this Option shall be exercisable until during the Expiration Date 30-day period following such termination of employment with respect to any vested shares, but in no event after the Expiration Date. Unless sooner terminated, this Option shall terminate in its entirety upon the expiration of the applicable exercise period noted above in this Section 4(a).

Appears in 1 contract

Samples: Employee Stock Option Grant Agreement (Cdknet Com Inc)

Exercise Period Following Termination of Employment. Unless the Option has earlier terminated, if the Optionee no longer serves as a consultant to the Company is terminatedCompany, other than as a result of the causes set forth in clauses (b), (c) or (d) below: (i) this Option shall terminate immediately upon such termination to the extent of any unvested shares, and all unvested shares shall be forfeited, and (ii) this Option shall be exercisable until the Expiration Date with respect to any vested shares, but in no event after the Expiration Date. Unless sooner terminated, this Option shall terminate in its entirety upon the expiration of the applicable exercise period noted above in this Section 4(a).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Arkados Group, Inc.)

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Exercise Period Following Termination of Employment. Unless the Option has earlier terminated, if the Optionee no longer serves as a consultant to Optionee’s employment with the Company is terminated, other than as a result of the causes set forth in clauses (b), (c) or (d) below: (i) this Option shall terminate immediately upon such termination to the extent of any unvested shares, and all unvested shares shall be forfeited, and (ii) this Option shall be exercisable until during the Expiration Date 30-day period following such termination of employment with respect to any vested shares, but in no event after the Expiration Date. Unless sooner terminated, this Option shall terminate in its entirety upon the expiration of the applicable exercise period noted above in this Section 4(a).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Arkados Group, Inc.)

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