Exercise Upon Termination of Employment. If the Optionee ceases to be employed by the Company for any reason, then, except as provided in paragraphs (e) and (f) below, the right to exercise this Option shall terminate 90 days after such cessation (but not after the Expiration Date). In that event, this Option shall be exercisable only to the extent that the Option was unexercised and vested on the date of such cessation. The Company’s obligation to deliver shares upon the exercise of this Option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a nonstatutory stock option or otherwise.
Appears in 3 contracts
Samples: Stock Option Agreement (Lsi Logic Corp), Logic Corporation 1991 Equity Incentive Stock Option Agreement (Lsi Logic Corp), Stock Option Agreement (Lsi Logic Corp)
Exercise Upon Termination of Employment. If the Optionee ceases to be employed by the Company for any reason, then, except as provided in paragraphs (e) the Notice of Grant and (f) Sections 9, 10 and 11 below, the right to exercise this Option shall will terminate 90 ninety (90) days after such cessation (but not after the Expiration Date). In that event, this Option shall will be exercisable only to the extent that the Option was unexercised and vested on the date of such cessation. The Company’s obligation to deliver shares Shares upon the exercise of this Option shall will be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option Option being treated as a nonstatutory stock option or otherwise.
Appears in 1 contract
Samples: Lsi Logic Corp
