Forfeiture of Option. In the event of the Participant’s breach of any of the Restrictive Covenants, the Option (whether vested or unvested) shall immediately be forfeited.
Forfeiture of Option. The Optionee shall forfeit all unexercised Options if the Optionee competes with the business of the Company or any subsidiary of the Company, engages in any activity adverse to the best interests of the Company or any subsidiary of the Company or uses any of the trade secrets or confidential information of the Company or any subsidiary of the Company. The non-competition restriction contained in this Paragraph 5 may be waived by the Company in writing as to delineated services rendered by the Optionee to certain specified individuals and/or entities.
Forfeiture of Option. To the extent that the Option has not yet vested pursuant to Section 2 above, it shall be forfeited automatically without further action or notice if the Participant ceases to be employed by the Company and its Subsidiaries prior to the Vesting Date other than as provided in Section 2(b) or (c).
Forfeiture of Option. Unless otherwise agreed to in writing by the Optionor and the Optionee or unless previously exercised, the Option shall be deemed to be forfeited, and no longer capable of being exercised by the Optionee, on the Expiry Date and such Notes outstanding as of the Expiry Date shall be converted into Shares in accordance Section 3.5.
Forfeiture of Option. (a) Notwithstanding any other provision of this Agreement, if, at any time during the employment or service of the Participant or during the 12-month period following termination of employment or service (regardless of whether such termination was by the Company or the Participant, and whether voluntary or involuntary or with or without Cause or Good Reason), the Participant engages in a Prohibited Activity (as defined herein), then the Option shall immediately be terminated (to the extent not otherwise already terminated) and all of Participant’s rights under this Agreement shall be forfeited in their entirety.
Forfeiture of Option. Notwithstanding the provisions of Section 6 above, this Option shall terminate immediately and become void and of no effect if Optionee shall enter into "Competition with the Company." "Competition with the Company" shall mean serving as principal, agent, salesman, employee or officer with any entity competing with the Company or a subsidiary of the Company in any market in which the Company or a subsidiary of the Company does business during the term of the Option.
Forfeiture of Option. Unless the Company shall have determined otherwise, the Participant shall forfeit all privileges with respect to that portion of the Option not immediately exercisable upon the occurrence of any of the following events:
Forfeiture of Option. (A) The OPTION shall be subject to the following additional forfeiture conditions, to which the OPTIONEE, by accepting the OPTION, agrees. If any of the events specified in Section 6(B)(i), (ii), or (iii) occurs (a “FORFEITURE EVENT”), the following forfeiture will result:
Forfeiture of Option. Employee shall forfeit this entire Option (including the portion of such Option in which Employee has acquired a Vested Interest) and any and all shares acquired pursuant to the exercise of such Option in accordance with Paragraph 5.2 of the Plan if the Committee determines that Employee has engaged in any Detrimental Activity.
Forfeiture of Option. Notwithstanding any other provision of this Option, if, in the sole determination of the Board of Directors, the Optionee (i) has disclosed trade secrets or confidential information of the Company in contravention of Section 8 of Optionee's Employment Agreement, or (ii) has breached any agreement with the Company in respect of confidentiality, nondisclosure, noncompetition or otherwise, all unexercised Options shall terminate as of the date of such determination. In the event of such a determination, in addition to immediate termination of all unexercised Options, the Optionee shall forfeit all Option shares for which the Company has not yet delivered share certificates to the Optionee and the Company shall refund to the Optionee the Option price paid to it. Notwithstanding anything herein to the contrary, the Company may withhold delivery of share certificates pending the resolution of any inquiry that could lead to a determination resulting in forfeiture.
