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).
Appears in 2 contracts
Samples: Employment Agreement (Premier Exhibitions, Inc.), Nonqualified Stock Option Agreement (Premier Exhibitions, Inc.)
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 or be a member of the Board of Directors prior to the Vesting Date other than as provided in Section 2(b) or (c). The Option shall vest on a monthly prorated basis if such termination is prior to an anniversary of the Date of Grant.
Appears in 1 contract
Samples: Stock Option Agreement (Deer Consumer Products, Inc.)
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 Optionee ceases to be employed by the Company and or its Subsidiaries or be a member of the Board of Directors prior to the Vesting Date other than as provided in Section 2(b) or (c).
Appears in 1 contract
Samples: Stock Option Agreement (CleanTech Innovations, Inc.)
