Common use of Expiration of Option; Termination of Employment Clause in Contracts

Expiration of Option; Termination of Employment. The Option shall expire at 11:59 P.M. on [____________] (the “Expiration Date”), or, if earlier, upon a qualifying Change in Control of the Company pursuant to Section 5(b). Whether an authorized leave of absence for military or governmental service shall constitute a termination of employment for purposes of this Agreement shall be determined by the Committee in accordance with applicable law.

Appears in 2 contracts

Samples: Stock Option Agreement (Qep Resources, Inc.), Stock Option Agreement (Qep Resources, Inc.)

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Expiration of Option; Termination of Employment. The Option shall expire at 11:59 P.M. on [____________] February 13, 2014 (the “Expiration Date”), or, if earlier, (i) upon a qualifying Change in Control of the Company pursuant to Section 5(b), or (ii) following termination of Optionee’s employment as provided in this Section 4. Whether an authorized leave of absence for military or governmental service shall constitute a termination of employment for purposes of this Agreement shall be determined by the Committee in accordance with applicable lawCommittee.

Appears in 1 contract

Samples: Stock Option Agreement (Questar Corp)

Expiration of Option; Termination of Employment. The Option shall expire at 11:59 P.M. on [____________] (the “Expiration Date”), or, if earlier, upon a qualifying Change in Control of the Company pursuant to Section 5(b6(b). Whether an authorized leave of absence for military or governmental service shall constitute a termination of employment for purposes of this Agreement shall be determined by the Committee in accordance with applicable law. For purposes of this Section 5, “Cause” and “Good Reason” shall have the meanings given such terms in the employment agreement then in effect between Optionee and the Employer.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Qep Resources, Inc.)

Expiration of Option; Termination of Employment. The Option shall expire at 11:59 P.M. on [____________] (the “Expiration Date”), or, if earlier, upon a qualifying Change in Control of the Company pursuant to Section 5(b). Whether an authorized leave of absence for military or governmental service shall constitute a termination of employment for purposes of this Agreement shall be determined by the Committee in accordance with applicable law. For purposes of this Section 4, “Cause” and “Good Reason” shall have the meanings given such terms in the employment agreement then in effect between Optionee and the Employer.

Appears in 1 contract

Samples: Stock Option Agreement (Qep Resources, Inc.)

Expiration of Option; Termination of Employment. The Option shall expire at 11:59 P.M. on [____________] _______ (the “Expiration Date”), or, if earlier, (i) upon a qualifying Change in Control of the Company pursuant to Section 5(b6(b). Whether an authorized leave of absence for military , or governmental service shall constitute a (ii) following termination of Optionee’s employment (except for purposes of death, disability or Approved Retirement) as provided in this Agreement shall be determined by the Committee in accordance with applicable lawSection 5.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Questar Corp)

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Expiration of Option; Termination of Employment. The Option shall expire at 11:59 P.M. on [____________] (the “Expiration Date”), or, if earlier, upon a qualifying Change in Control of the Company pursuant to Section 5(b)5 or as otherwise set forth in this Section 4. Whether an authorized leave of absence for military or governmental service shall constitute a termination of employment for purposes of this Agreement shall be determined by the Committee in accordance with applicable law.

Appears in 1 contract

Samples: Stock Option Agreement (Qep Resources, Inc.)

Expiration of Option; Termination of Employment. The Option shall expire at 11:59 P.M. on [____________] (the “Expiration Date”), or, if earlier, upon a qualifying Change in Control of the Company pursuant to Section 5(b6(b). Whether an authorized leave of absence for military or governmental service shall constitute a termination of employment for purposes of this Agreement shall be determined by the Committee in accordance with applicable law.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Qep Resources, Inc.)

Expiration of Option; Termination of Employment. The Option shall expire at 11:59 P.M. on [____________] ___________ (the “Expiration Date”), or, if earlier, (i) upon a qualifying Change in Control of the Company pursuant to Section 5(b6(b), or (ii) except as provided below, following termination of Optionee’s employment as provided in this Section 5. Whether an authorized leave of absence for military or governmental service shall constitute a termination of employment for purposes of this Agreement shall be determined by the Committee in accordance with applicable lawCommittee.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Questar Corp)

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