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 employment or other Service with the Company and its Subsidiaries terminates, except 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 Service. 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 6 contracts

Samples: Nonqualified Stock Option Grant Agreement (Adgero Biopharmaceuticals Holdings, Inc.), Nonqualified Stock Option Grant Agreement (Atrinsic, Inc.), Nonqualified Stock Option Grant Agreement (Corbus Pharmaceuticals Holdings, 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 after months following termination of the Optionee’s employment or other Service with the Company and its Subsidiaries terminatesContinuous 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, this Option shall terminate and be canceled twelve one (121) months year from the date of termination of the Optionee’s Continuous Service. Notwithstanding the foregoing, in the event that the Optionee’s employment or other Continuous Service with the Company and its Subsidiaries 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: Incentive Stock Option Grant Agreement (Cyabra Strategy Ltd.), Nonqualified Stock Option Grant Agreement (Cyabra Strategy Ltd.)

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