Extension of Stock Option Exercise Period. Notwithstanding anything to the contrary in this Agreement, in the event any extended exercise period provided for in this Agreement shall result in a portion of a stock option becoming subject to the provisions of Section 409A of the Code, the extended exercise period of such portion of such stock option shall be automatically shortened to the minimum extent necessary to prevent such portion of such option from becoming subject to Section 409A of the Code. In further limitation of any provisions providing for an extended exercise period, the following provisions shall apply:
(i) If the stock option was granted pursuant to the 1997 Stock Option Plan, as amended (the “1997 Plan”) and pursuant to a Change in Control (as defined in the 1997 Plan) substantially all of the stock options outstanding pursuant to the 1997 Plan will be terminated at the effective date of such Change in Control, any provisions in this Agreement providing for an extended exercise period shall not apply to such stock option.
(ii) If the stock option was granted pursuant to the 1998 Nonstatutory Stock Option Plan (the “1998 Plan”) and pursuant to a Change in Control (as defined in the 1998 Plan) substantially all of the stock options outstanding pursuant to the 1998 Plan will be terminated at the effective date of such Change in Control, any provisions in this Agreement providing for an extended exercise period shall not apply to such stock option.
(iii) If the stock option was granted pursuant to an equity incentive plan adopted after the date hereof (a “Future Plan”) and, pursuant to the provisions of the Future Plan, substantially all of the stock options outstanding pursuant to the Future Plan will be terminated at the effective date of an event or transaction, any provisions in this Agreement providing for an extended exercise period shall not apply to such stock option.
Extension of Stock Option Exercise Period. Notwithstanding anything to the contrary in this Agreement, in the event any extended exercise period provided for in this Agreement shall result in a portion of a stock option becoming subject to the provisions of Section 409A, the extended exercise period of such portion of such stock option shall be automatically shortened by the minimum extent necessary to prevent such portion of such option from becoming subject to Section 409A. In no event will any provisions in this Agreement providing for an extended exercise period result in the extension of the exercise period of any stock option beyond the maximum permitted term of such stock option as provided under the applicable equity incentive plan and stock option award agreement in effect for such stock option, assuming for the purposes of this Section 20(b) no termination of Executive’s employment with the Company.
Extension of Stock Option Exercise Period. You acknowledge that you have requested the Company to extend the Post-Termination Exercise Period of your vested incentive stock options, and understand the tax consequence of such request. In return for your promises in this Agreement, and provided that you sign and return this Agreement and do not revoke it, the Company shall extend the exercise period for any vested employee stock option(s) as of your Separation Date for (12) months for your option grant priced at $5.02, and eighteen (18) months for your option grant priced at $7.89. Because your employment is terminating on the Separation Date, none of your unvested shares can ever vest. Except for the extension to your exercise period as set forth in this Section 3.c. your rights concerning any and all vested options will continue to be governed by the Stock Option Agreements in place between you and Company. I UNDERSTAND THAT TO THE EXTENT ANY OF MY VESTED OPTIONS QUALIFIED AS “INCENTIVE STOCK OPTIONS,” THE EXTENSION OF THE POSTTERMINATION EXERCISE PERIOD THEREOF (AS DESCRIBED IN THIS SECTION 3.c), WILL BE A MODICATION OF SUCH INCENTIVE STOCK OPTIONS, WILL DISQUALIFY THE OPTIONS AS INCENTIVE STOCK OPTIONS AND SHALL RESULT IN MY HAVING NON-STATUTORY STOCK OPTIONS. I ALSO AGREE AND UNDERSTAND THAT THIS MEANS THAT WHEN I EXERCISE MY VESTED OPTIONS THAT THE SPREAD BETWEEN THE THEN FAIR MARKET VALUE OF THE UNDERLYING SHARES AND THE EXERCISE PRICE OF MY VESTED OPTIONS WILL BE ORDINARY INCOME THAT WILL BE REPORTED TO ME AS WAGES ON MY W-2 FOR THE YEAR IN WHICH THE EXERCISE OCCURS AND THAT I MUST MAKE ARRANGEMENTS SATISFACTORY TO THE COMPANY FOR THE COLLECTION OF ANY TAX WITHHOLDING AS A RESULT OF THE EXERCISE AND AS A CONDITION TO THE COMPANY HAVING TO RESPECT THE EXERCISE AND DELIVER SHARES TO ME. I UNDERSTAND AND AGREE THAT THE COMPANY WILL DETERMINE IN GOOD FAITH WHAT THE FAIR MARKET VALUE OF THE UNDERLYING SHARES IS AT THE TIME OF EXERCISE AND I AGREE TO ACCEPT THE COMPANY’S DETERMINATION OF FAIR MARKET VALUE AT THAT TIME WITH RESPECT TO THE AMOUNT OF TAX WITHHOLDING THAT IS DUE IN CONNECTION WITH THE EXERCISE.
Extension of Stock Option Exercise Period. The Company agrees to extend the post-employment deadline to exercise the Non-Qualified Stock Options listed as “NQ” in Exhibit B to the nine (9) month anniversary of the Retirement Date.
Extension of Stock Option Exercise Period. In the event the termination of the Employee is described in clause (a)(i), (ii), (iii), (iv), (v) or (vi) above, the exercise period for all of the Employee's stock options shall be extended to thirty-six (36) months from the date of such termination, except if and to the extent specifically provided to the contrary under the terms of the applicable plan, or under the terms of any specific grant or award made to the Employee under any such plan and accepted by the Employee in writing.
Extension of Stock Option Exercise Period. You hold options to purchase shares of Company stock as set forth in the terms of the Company's 2010 Equity Incentive Plan, Stock Option Agreement and any applicable Notices of Stock Option Grant. You will continue to vest in restricted stock units and stock options while you are employed by the Company. The number of vested restricted stock units and options you hold will be determined as of your Separation Date. The Company agrees to take the steps necessary to extend the time period for you to exercise any vested stock options to the earlier of (i) twelve (12) months from the Separation Date or (ii) the expiration date of each such option. Your vesting in any and all ISO and NSO options will cease as of the Separation Date and the terms of the Company's 2010 Equity Incentive Plan and Stock Option Agreement and any applicable Notice of Stock Option Grant will continue to govern any options or shares of Company stock owned by you. The Severance Payment, COBRA Xxx Sum Payment, the Change in Control Benefit and Extension of Stock Option Exercise Period are collectively defined as the “Severance Benefit.”
Extension of Stock Option Exercise Period. All Non-Statutory Stock Options previously granted to Executive shall be amended to provide, and the Option granted under Section 3(d) shall provide, effective upon approval by the Board, that the period during which the Executive may exercise all such Options shall continue for a period of 365 days from the date of any termination of Executive's employment with the Company, to the extent such Options by their terms are otherwise exercisable and would not otherwise expire or lapse, prior to the end of such period. Any agreement representing such Options shall be revised to reflect such amendment.
Extension of Stock Option Exercise Period. Notwithstanding anything to the contrary in this Agreement, in the event any extended exercise period provided for in this Agreement shall result in a portion of a stock option becoming subject to the provisions of Section 409A, the extended exercise period of such portion of such stock option shall be automatically shortened by the minimum extent necessary to prevent such portion of such option from becoming subject to Section
Extension of Stock Option Exercise Period. A new Section 4.2(g) shall be added to the Agreement as follows:
Extension of Stock Option Exercise Period. The period in which the Employee may exercise eligible outstanding unexercised stock options granted pursuant to the Employer’s equity incentive plans that have vested as of the Separation Date shall be extended to the twenty-four (24) month anniversary of the Separation Date, provided if the original termination date of a stock option is an earlier date, such original termination date shall continue to apply. You understand and agree that you will cease vesting in any of your outstanding options granted under the Employer’s equity incentive plans as of the Separation Date.