Extended Option Exercise Period. In the event of a Change of Control of the Company occurring within two years of the date of termination of the Executives employment for any reason other than cause (the "Termination Date"), the exercise period for each tranche of then vested and unexercised Option as provided for in Section (5)(b) of the Employment Agreement shall be extended by one year for each completed Service Year, up to the maximum ten-year expiration period provided for under the Company's stock incentive plans; it being understood that (i) there shall be no extended option exercise period attributable in any respect to any portion of the Option exercised by the Executive for any reason prior to the occurrence of a Change of Control and (ii) there shall be no extended option period with respect to any unexercised portion of the Option in the event that a Change of Control fails to occur within two years of the Termination Date.
Extended Option Exercise Period. The parties agree that Section 6(d) of the Change in Control and Severance Agreement is hereby amended such that the reference therein to “twenty four (24)-month period” shall be removed and replaced by “forty eight (48)-month period”.
Extended Option Exercise Period. Effective as of the Agreement Effective Date, the Company will extend, until such date that is twenty-four (24) months following the Separation Date, the exercise period for all outstanding options to purchase shares of the Company's common stock in which Executive has vested, including pursuant to Section 2(c) above. Executive understands that options subject to this extended exercise period shall cease to be treated for tax purposes as an incentive stock option.
Extended Option Exercise Period. Effective as of immediately prior to the Separation Date, the Board has approved and the Company agrees to extend the period of time for Employee to exercise any vested shares subject to Option Awards, after due effect of 1c. above, until the earlier of (i) the expiration date of the Option Awards, (ii) the tenth (10th) anniversary of the date of grant of the Option Awards, (iii) thirty-six (36) months from the Separation Date; or (iv) the occurrence of a Change of Control (as defined in the Company’s 2019 Equity Incentive Plan) unless assumed in a Change of Control transaction. The Option Awards will continue to be governed by the terms of the Company’s 2010 Equity Incentive Plan, 2017 Equity Incentive Plan and 2019 Equity Incentive Plan. If Employee accepts this Agreement, Employee acknowledges and agrees that Employee’s stock option(s) have/has been modified by the provisions of this Agreement and that, as a result of the tax rules applicable to incentive stock options, the option(s) that was/were intended to qualify as an incentive stock option may hereafter be treated as a nonstatutory stock option. Employee has been advised to seek independent tax advice of the consequences of such modification. Employee may exercise the Option Awards option pursuant to a “cashless exercise” program as further described in Section 4(c)(ii) of the 2019 Equity Incentive Plan.
Extended Option Exercise Period. The exercise period for each tranche of vested Options as provided for in Section (5)(b) of the Employment Agreement shall, upon the Executive's termination of employment for any reason other than cause, be extended by one year for each completed Service Year, up to the maximum ten-year expiration period provided for under the Company's stock incentive plans.
Extended Option Exercise Period. Notwithstanding any provision in any Company or NSI option agreement to the contrary, you may continue to exercise any Company or NSI option for a period of six (6) months following the Termination Date.
Extended Option Exercise Period. Effective as of immediately prior to the Separation Date, the Board has approved and the Company agrees to extend the period of time for Employee to exercise any vested shares subject to Option Award, after due effect of 1c. above, until the earlier of (i) the expiration date of the Option Awards, or (ii) six (6) months from the Separation Date. If Employee accepts this Agreement, Employee acknowledges and agrees that Employee’s stock option(s) have/has been modified by the provisions of this Agreement and that, as a result of the tax rules applicable to incentive stock options, the option(s) that was/were intended to qualify as an incentive stock option may hereafter be treated as a nonstatutory stock option. Employee has been advised to seek independent tax advice of the consequences of such modification.
Extended Option Exercise Period. Effective as of immediately prior to the Separation Date, the Board has approved and the Company agrees to extend the period of time for Employee to exercise any vested shares subject to Option Award until the earlier of (i) the expiration date of the Option Award, or (ii) twelve (12) months from the Separation Date. The Option Award will continue to be governed by the terms of the Company’s 2019 Equity Incentive Plan. If Employee accepts this Agreement, Employee acknowledges and agrees that Employee’s stock option(s) have/has been modified by the provisions of this Agreement and that, as a result of the tax rules applicable to incentive stock options, the option(s) that was/were intended to qualify as an incentive stock option may hereafter be treated as a nonstatutory stock option. Employee has been advised to seek independent tax advice of the consequences of such modification. Employee may exercise the Option Award option pursuant to a “cashless exercise” program as further described in Section 4(c)(ii) of the 2019 Equity Incentive Plan.
Extended Option Exercise Period. Subject to the approval of the Company’s Board of Directors (the “Board”), the period during which you may exercise your vested Company stock options shall be extended until the six (6) month anniversary of the Consulting End Date (as defined in the Consulting Agreement) , but in no event later than the expiration date of such Options (the “Exercise Period Extension”). You acknowledge that as a result of the Exercise Period Extension, to the extent your stock options were incentive stock options, your stock options will convert from incentive stock options to nonqualified stock options, subject to applicable law. You are advised to seek tax guidance from your personal tax advisors with regard to the effect of the Exercise Period Extension on the tax treatment of your stock options.
