Exercise Upon Cessation of Employment. (a) If the Employee at any time ceases to be an employee of the Company and of any parent corporation of the Company (a "Parent") within the meaning of Section 424(e) of the Internal Revenue Code of 1986, as amended (the "Code"), or subsidiary corporation of the Company (a "Subsidiary") within the meaning of Section 424(f) of the Code by reason of his discharge for Good Cause (as defined below), the Option shall, at the time of such termination of employment, terminate and the Employee shall forfeit all rights hereunder. If, however, the Employee for any other reason (other than Disability or death) ceases to be such an employee, the Option may, subject to the provisions of Sections 5 and 8 hereof, be exercised by the Employee to the same extent the Employee would have been entitled under Section 3 hereof to exercise the Option immediately prior to such cessation of employment, at any time within three (3) months after such cessation of employment, at the end of which period the Option, to the extent not then exercised, shall terminate and the Employee shall forfeit all rights hereunder, even if the Employee subsequently returns to the employ of the Company or any Parent or Subsidiary. In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
Exercise Upon Cessation of Employment. (a) If the Participant's service with the Corporation is terminated by reason of a Qualifying Termination, each Option granted
Exercise Upon Cessation of Employment. (a) If the Employee at any time ceases to be an employee of the Corporation or of any Affiliate (i) by reason of his discharge for Cause or (ii) due to his voluntary termination of employment without the written consent of the Committee, the Option shall, at the time of such termination of employment, terminate and the Employee shall forfeit all rights hereunder. If, however, the Employee for any other reason (other than Disability or death) ceases to be such an Employee, the Option may, subject to the provisions of Section 5 hereof, be exercised by the Employee to the same extent the Employee would have been entitled under Section 3 hereof to exercise the Option immediately prior to such cessation of employment, at any time within [________days/months - NO LATER THAN 3 MONTHS] after such cessation of employment, at the end of which period the Option, to the extent not then exercised, shall terminate and the Employee shall forfeit all rights hereunder, even if the Employee subsequently returns to the employ of the Corporation or any Affiliate. In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
Exercise Upon Cessation of Employment. (a) If the Employee at any time ceases to be an employee of the Corporation and of any Parent or Subsidiary by reason of her discharge for Good Cause, at the time of such termination of employment, the Option (whether or not then exercisable to any extent) shall terminate and the Employee shall forfeit all rights hereunder. If, however, the Employee ceases to be an Employee for any other reason (other than death), any outstanding portion of an Option that has not become exercisable shall terminate on the date of such termination of employment (unless provided otherwise by the Board or the Committee, in its sole discretion, as applicable). In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof. Notwithstanding the foregoing provisions of this Section 6, so long as there has not been an IPO, the Corporation shall have the right in its sole discretion to purchase during the one year period following the date of the Employee's termination of employment, and the Employee shall have the obligation to sell to the Corporation during such period (i) any outstanding exercisable Option at its then Fair Market Value (which in all cases shall be the difference between the Fair Market Value of each Share under such Option and the exercise price) and (ii) any Shares purchased by the Employee through the exercise of an Option at their then Fair Market Value.
Exercise Upon Cessation of Employment. (a) If the Employee's employment with the Corporation or any Parent or Subsidiary is terminated for any reason other than for Good Cause or upon death or Disability as provided in Section 7 hereof, then the Employee shall have the right, within sixty (60) days after the date of such termination, to exercise the vested portion of his Option, and thereafter shall forfeit his rights to this Option; PROVIDED, HOWEVER, that if within such sixty (60) day period following the termination of his employment for reasons other than for Good Cause, the Employee dies, his estate (or other beneficiary if so designated in writing by the Employee) may exercise the vested portion of the Employee's Option within the earlier of (x) one (1) year after the date of the Employee's death or (y) the expiration date of the Option. If the Committee determines that the Employee's employment was terminated for Good Cause, then the Option and all rights hereunder shall be terminated as of the date of the Employee's termination of employment.
Exercise Upon Cessation of Employment. (a) If the Employee at any time ceases to be an employee of the Corporation and of any Parent or Subsidiary by reason of her discharge for Good Cause, at the time of such termination of employment, the Option (whether or not then exercisable to any extent) shall terminate and the Employee shall forfeit all rights hereunder. If, however, the Employee ceases to be an Employee for any other reason (other than death), any outstanding portion of an Option that has not become exercisable shall terminate on the date of such termination of employment (unless provided otherwise by the Board or the Committee, in its sole discretion, as applicable). In no event, however, may the Option be exercised after the expiration of the term provided in Section 4 hereof.
Exercise Upon Cessation of Employment. (a) If the Optionee at any time ceases to be an employee, consultant, or director of the Corporation by reason of his discharge for Cause, the Subject Option shall, at the time of such termination, terminate and the Optionee shall forfeit all rights hereunder. If, however, the employee, consultant, or director for any other reason (other than permanent and total disability or death) ceases to be such an Optionee, the Subject Option may, subject to the provisions of Section 5 hereof, be exercised by the Optionee to the same extent the Optionee would have been entitled under Section 3 hereof to exercise the Subject Option immediately prior to such cessation, at any time within one (1) month after such cessation, at the end of which period the Subject Option to the extent not then exercised, shall terminate and the Optionee shall forfeit all rights hereunder. In no event, however, may the Subject Option be exercised after the expiration of the term provided in Section 4 hereof.
Exercise Upon Cessation of Employment. (a) If the Executive ceases to be employed by the Company or any of its subsidiaries by reason of his discharge for cause, the Option shall forthwith terminate. If, however, the Executive for any other reason (other than death or disability) ceases to be so employed, the Option may, subject to the provisions of Sections 5 and 8 hereof, be exercised to the same extent the Executive would have been entitled under Section 3 hereof to exercise the Option on the day immediately preceding the date of such cessation of employment, at any time within six months after such cessation of employment, at the end of which period the Option shall terminate. In any event the Option may not be exercised after the expiration of the term provided in Section 4 hereof.
Exercise Upon Cessation of Employment. (a) If the Optionee ceases to serve as an employee or director of the Company or any affiliate or subsidiary thereof by reason of his discharge for cause, as determined in good faith by the Board of Directors of the Company, or by the reason of the voluntary resignation of the Optionee, then the Option shall forthwith terminate, but vested options may be exercised for a period of 30 days after termination. If, however, the Optionee for any other reason ceases to serve, then the options vested at the date of such cessation may, subject to the provisions of Section 6 hereof, be exercised to the same extent the Optionee would have been entitled under Sections 2 & 4 hereof to exercise the vested options hereunder. In any event the Option may not be exercised after the expiration of the term provided in Section 5 hereof. Any Option or part thereof not vested on the date of such cessation shall forthwith terminate.
Exercise Upon Cessation of Employment. (a) If the Participant's service with the Corporation is terminated by reason of a Qualifying Termination, each Option granted to the Participant shall remain exercisable by him or her until the end of the exercise period under such Option, but only to the extent exercisable (and not exercised) on the date of such Qualifying Termination, and all Options not exercisable on the date of such Qualifying Termination shall be forfeited and canceled. If the Participant's service with the Corporation is terminated by reason of a Non-Qualifying Termination, all outstanding unexercised Options shall be forfeited or canceled, as the case may be, as of the date of such Non-Qualifying Termination.
