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

Exercise Period Following Termination of Service. This Option shall terminate and be canceled to the extent not exercised within ninety (90) days after the Optionee’s Service terminates; provided that if such termination is due to the death or Disability of the Optionee, this Option shall terminate and be canceled twelve (12) months from the date of termination of the Optionee’s Service; and provided, further, that if Optionee’s Service terminates (other than for Cause) on or after a Change in Control, then the Option shall remain exercisable until the Expiration Date. Notwithstanding the foregoing, in the event that the Optionee’s Service is terminated for Cause, then the Option shall immediately terminate on the date of such termination of Service and shall not be exercisable for any period following such date. In no event, however, shall this Option be exercised later than the Expiration Date set forth in Exhibit A and in no event shall this Option be exercised for more Shares than the Shares which otherwise have become exercisable as of the date of termination.

Appears in 6 contracts

Samples: Nonqualified Stock Option Grant Agreement (Data Storage Corp), Nonqualified Stock Option Grant Agreement (Hestia Insight Inc.), Nonqualified Stock Option Grant Agreement (Hestia Insight Inc.)

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Exercise Period Following Termination of Service. This Option shall terminate and be canceled to the extent not exercised within ninety three (903) days months after the Optionee’s Service terminates; provided that if such termination is due to the death or Disability Optionee’s total and permanent disability within the meaning of Section 22(e)(3) of the OptioneeCode, this Option shall terminate and be canceled twelve one (121) months year from the date of termination of the Optionee’s Service; and provided, further, that if Optionee’s Service terminates (other than for Cause) on or after a Change in Control, then the Option shall remain exercisable until the Expiration Date. Notwithstanding the foregoing, in the event that the Optionee’s Service is terminated for Cause, then the Option shall immediately terminate on the date of such termination of Service and shall not be exercisable for any period following such date. In no event, however, shall this Option be exercised later than the Expiration Date set forth in Exhibit A and in no event shall this Option be exercised for more Shares than the Shares which otherwise have become exercisable as of the date of termination.

Appears in 5 contracts

Samples: Incentive Stock Option Grant Agreement (Data Storage Corp), Employment Agreement (Vyant Bio, Inc.), Incentive Stock Option Grant Agreement (Data Storage Corp)

Exercise Period Following Termination of Service. This Option shall terminate and be canceled to the extent not exercised within ninety three (903) days after months following termination of the Optionee’s employment or other Service terminates; provided with the Company and all Subsidiaries, except that if such termination is due to the Optionee’s death or Disability permanent and total disability within the meaning of Section 22(e)(3) of the OptioneeCode, this Option shall terminate and be canceled twelve one (121) months year from the date of termination of Service with the Optionee’s Service; Company and provided, further, that if Optionee’s Service terminates (other than for Cause) on or after a Change in Control, then the Option shall remain exercisable until the Expiration Dateall Subsidiaries. Notwithstanding the foregoing, in the event that the Optionee’s employment or other Service with the Company and its Subsidiaries is terminated for Cause, then the Option shall immediately terminate on the date of such termination of Service and shall not be exercisable for any period following such date. In no event, however, shall this Option be exercised later than the Expiration Date set forth in Exhibit A and in no event shall this Option be exercised for more Shares than the Shares which otherwise have become exercisable as of the date of termination.

Appears in 3 contracts

Samples: Incentive Stock Option Grant Agreement (Atrinsic, Inc.), Incentive Stock Option Grant Agreement (Corbus Pharmaceuticals Holdings, Inc.), Incentive Stock Option Grant Agreement (Matinas BioPharma Holdings, Inc.)

Exercise Period Following Termination of Service. This Option shall terminate and be canceled canceled, to the extent not exercised within ninety exercised, on the ninetieth (9090th) days day after the Optionee’s Service with the Company and its Subsidiaries terminates; provided , except that if such termination of Service with the Company and its Subsidiaries is due to the death or Disability of the Optionee, this Option shall terminate and be canceled twelve (12) months from on the one-year anniversary of the date of such termination of the Optionee’s Service; and provided, further, that if Optionee’s Service terminates (other than for Cause) on or after a Change in Control, then the Option shall remain exercisable until the Expiration Date. Notwithstanding the foregoing, in the event that the Optionee’s Service with the Company and its Subsidiaries is terminated for Cause” (as defined below), then the Option (whether or not then exercisable to any extent) shall immediately terminate on the date of such termination of Service and shall not be exercisable for any period following such date. In Notwithstanding anything contained herein to the contrary, in no event, however, shall event may this Option be exercised later than the Expiration Date set forth in Exhibit A and in no event shall this Option be exercised for more Shares than the Shares which otherwise have become exercisable as of the date of terminationtermination of Service.

Appears in 3 contracts

Samples: Nonqualified Stock Option Grant Agreement (Blue Bird Corp), Nonqualified Stock Option Grant Agreement (Blue Bird Corp), Nonqualified Stock Option Grant Agreement (Blue Bird Corp)

Exercise Period Following Termination of Service. This Option shall terminate and be canceled to the extent not exercised within ninety three (903) days after months following termination of the Optionee’s Service terminates; provided Continuous Service, except that if such termination is due to the Optionee’s death or Disability permanent and total disability within the meaning of Section 22(e)(3) of the OptioneeCode (or other applicable law), this Option shall terminate and be canceled twelve one (121) months year from the date of termination of the Optionee’s Continuous Service; and provided, further, that if Optionee’s Service terminates (other than for Cause) on or after a Change in Control, then the Option shall remain exercisable until the Expiration Date. Notwithstanding the foregoing, in the event that the Optionee’s Continuous Service is terminated for Cause, then the Option shall immediately terminate on the date of such termination of Continuous Service and shall not be exercisable for any period following such date. In no event, however, shall this Option be exercised later than the Expiration Date set forth in Exhibit A and in no event shall this Option be exercised for more Shares than the Shares which otherwise have become exercisable as of the date of termination.

Appears in 2 contracts

Samples: Stock Option Grant Agreement (Cyabra Strategy Ltd.), Stock Option Grant Agreement (Cyabra Strategy Ltd.)

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Exercise Period Following Termination of Service. This Option shall terminate and be canceled canceled, to the extent not exercised within ninety exercised, on the ninetieth (9090th) days day after the Optionee’s Service with the Company and its Subsidiaries terminates; provided , except that if such termination of Service with the Company and its Subsidiaries is due to the Optionee’s death or Disability permanent and total disability within the meaning of Section 22(e)(3) of the OptioneeCode, this Option shall terminate and be canceled twelve (12) months from on the one-year anniversary of the date of such termination of the Optionee’s Service; and provided, further, that if Optionee’s Service terminates (other than for Cause) on or after a Change in Control, then the Option shall remain exercisable until the Expiration Date. Notwithstanding the foregoing, in the event that the Optionee’s Service with the Company and its Subsidiaries is terminated for Cause” (as defined below), then the Option (whether or not then exercisable to any extent) shall immediately terminate on the date of such termination of Service and shall not be exercisable for any period following such date. In Notwithstanding anything contained herein to the contrary, in no event, however, shall event may this Option be exercised later than the Expiration Date set forth in Exhibit A and in no event shall this Option be exercised for more Shares than the Shares which otherwise have become exercisable as of the date of terminationtermination of Service.

Appears in 1 contract

Samples: Incentive Stock Option Grant Agreement (Blue Bird Corp)

Exercise Period Following Termination of Service. This Option shall terminate and be canceled to the extent not exercised within ninety three (903) days after months following termination of the Optionee’s employment or other Service terminateswith the Company and all Subsidiaries; provided provided, except that if such termination is due to the Optionee’s death or Disability permanent and total disability within the meaning of Section 22(e)(3) of the OptioneeCode, this Option shall terminate and be canceled twelve cancelled one (121) months year from the date of termination of Service with the Optionee’s Service; Company and provided, further, that if Optionee’s Service terminates (other than for Cause) on or after a Change in Control, then the Option shall remain exercisable until the Expiration Dateall Subsidiaries. Notwithstanding the foregoing, in the event that the Optionee’s employment or other Service with the Company and its Subsidiaries is terminated for Cause, then the Option shall immediately terminate on the date of such termination of Service and shall not be exercisable for any period following such date. In no event, however, shall this Option be exercised later than the Expiration Date set forth in Exhibit A and in no event shall this Option be exercised for more Shares than the Shares which otherwise have become exercisable as of the date of termination.

Appears in 1 contract

Samples: Incentive Stock Option Grant Agreement (Adgero Biopharmaceuticals Holdings, Inc.)

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