Common use of EXPIRATION AND TERMINATION OF THE OPTION Clause in Contracts

EXPIRATION AND TERMINATION OF THE OPTION. The Option will expire at the end of business on April 4, 2010, ten (10) years from the Date of Grant of the Option (the "EXPIRATION DATE"). In the event of termination of the Optionee's employment with the Company, any Vested Portion (as defined in Section 3 below) of the Option on the date of such termination may be exercised at any time prior to the Expiration Date, and the Option shall terminate as to the shares of Common Stock covered by the remaining, unvested portion of the Option. The Option may not be exercised after its expiration or termination.

Appears in 6 contracts

Samples: Nonqualified Stock Option Agreement (Eventures Group Inc), Nonqualified Stock Option Agreement (Eventures Group Inc), Nonqualified Stock Option Agreement (Eventures Group Inc)

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EXPIRATION AND TERMINATION OF THE OPTION. The Option (to the extent not earlier exercised or terminated in accordance with the Plan or this Agreement) will expire at the end of business on April 4February 21, 20102013, ten (10) years from the Date of Grant of the Option (the "EXPIRATION DATEExpiration Date"). In the event of termination the Optionee ceases to serve as a member of the OptioneeCompany's employment with board of directors, the Company, any Vested Portion (as defined in Section 3 below) unexercised portion of the Option will terminate on the earlier of the date of such termination may be exercised at any time prior to that is (a) five (5) years after the date the Optionee ceased being a director or (b) the Expiration Date, and the Option shall terminate as to the shares of Common Stock covered by the remaining, unvested portion of the Option. The Option may not be exercised after its expiration or termination.

Appears in 4 contracts

Samples: Nonqualified Stock Option Agreement (Novo Networks Inc), Nonqualified Stock Option Agreement (Novo Networks Inc), Nonqualified Stock Option Agreement (Novo Networks Inc)

EXPIRATION AND TERMINATION OF THE OPTION. The Option (to the extent not earlier exercised or terminated in accordance with the Plan or this Agreement) will expire at the end of business on April 4February 27, 20102014, ten (10) years from the Date of Grant of the Option (the "EXPIRATION DATE"). In the event of termination the Optionee ceases to serve as a member of the OptioneeCompany's employment with board of directors, the Company, any Vested Portion (as defined in Section 3 below) unexercised portion of the Option will terminate on the earlier of the date of such termination may be exercised at any time prior to that is (a) five (5) years after the date the Optionee ceased being a director or (b) the Expiration Date, and the Option shall terminate as to the shares of Common Stock covered by the remaining, unvested portion of the Option. The Option may not be exercised after its expiration or termination.

Appears in 3 contracts

Samples: Nonqualified Stock Option Agreement (Novo Networks Inc), Nonqualified Stock Option Agreement (Novo Networks Inc), Nonqualified Stock Option Agreement (Novo Networks Inc)

EXPIRATION AND TERMINATION OF THE OPTION. The Option (to the extent not earlier exercised or terminated in accordance with the Plan or this Agreement) will expire at the end of business on April 4February 21, 20102013, ten (10) years from the Date of Grant of the Option (the "EXPIRATION DATEExpiration Date"). In the event of termination of the Optionee's employment with the CompanyCompany or any Affiliated Entity, any Vested Portion of the Option (as defined in Section 3 5 below) of the Option on the date of such termination may be exercised at any time prior to for a period of five (5) years thereafter, but not after the Expiration Date, and the Option shall terminate as to the shares of Common Stock covered by the remaining, unvested portion of the Option. The Option may not be exercised after its expiration or termination.

Appears in 3 contracts

Samples: Nonqualified Stock Option Agreement (Novo Networks Inc), Nonqualified Stock Option Agreement (Novo Networks Inc), Nonqualified Stock Option Agreement (Novo Networks Inc)

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EXPIRATION AND TERMINATION OF THE OPTION. The Option will expire at the end of business on April 4, 2010, ten (10) years from the Date of Grant of the Option (the "EXPIRATION DATE"). In the event of termination of the Optionee's employment with the Company, any Vested Portion (as defined in Section 3 below) of the Option on the date of such termination may be exercised at any time prior to the first to occur of (a) Expiration DateDate or (b) the third (3rd) anniversary of the date of termination, and the Option shall terminate as to the shares of Common Stock covered by the remaining, unvested portion of the Option. The Option may not be exercised after its expiration or termination.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Eventures Group Inc)

EXPIRATION AND TERMINATION OF THE OPTION. The Option will expire at the end of business on April 417, 2010, ten (10) years from the Date of Grant of the Option (the "EXPIRATION DATE"). In the event of termination of the Optionee's employment with the Company, any Vested Portion (as defined in Section 3 below) of the Option on the date of such termination may be exercised at any time prior to the Expiration Date, and the Option shall terminate as to the shares of Common Stock covered by the remaining, unvested portion of the Option. The Option may not be exercised after its expiration or termination.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Eventures Group Inc)

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