Life of Option Sample Clauses

Life of Option. Except for the right to exercise the Option (to the extent vested) for the period provided in § 2(d) following the termination of Optionee’s employment, Optionee shall have the right to exercise this Option (to the extent it is vested under the vesting schedule in § 2(a) on such date) until the earlier of (i) the date that the Option is exercised, cancelled in full or otherwise expires, or (ii) the tenth anniversary of the Grant Date.
Sample 1See All (4)
AutoNDA by SimpleDocs
Life of Option. The “Option Period” of the Option shall commence on the Grant Date and shall expire on the tenth (10th) anniversary of the Grant Date (the “Expiration Date”), unless terminated earlier in accordance with Section 3 above. This Option shall expire and shall not be exercisable for any reason on or after the Expiration Date.
Sample 1Sample 2
Life of Option. This Option shall expire when exercised in full; provided, however, the Option also shall expire immediately and automatically on the earlier of (a) the date which is the eleventh (11th) anniversary of the Date of Grant, (b) the end of the three (3) month period which begins on the date Optionee's employment by the Company or any parent or subsidiary corporation of the Company terminates for any reason, other than as a result of the death or disability (within the meaning of Section 22(e)(3) of the Code) of Optionee or as a result of a Change of Control event described in Section 14.1 of the Plan, (c) the end of the six (6) month period which begins on the date Optionee's employment by the Company or any parent or subsidiary corporation of the Company terminates for reasons of death or disability (within the meaning of Section 22(e)(3) of the Code) of Optionee, (d) upon the consummation of a Change of Control event described in Section 14.1(1), (2) or (3) of the Plan, or (e) the end of the six (6) month period which begins on the date Optionee's employment by the Company or any parent or subsidiary corporation of the Company terminates as a result of a Change of Control event described in Section 14.1(4) or (5) of the Plan.
Sample 1
Life of Option. The Option shall expire when exercised in full; provided, however, and subject to Section 5 of this Agreement, the Option (to the extent not exercised and not exercisable) also shall expire immediately and automatically on October 15, 2006 (such date being a date preceding the tenth anniversary of the date of this Agreement).
Sample 1
Life of Option. The Option shall expire when exercised in full; provided, however, and subject to Section 5 of this Agreement, the Option (to the extent not exercised and not exercisable) also shall expire immediately and automatically on 10/30/2007 (such date being a date preceding the tenth anniversary of the date of this Agreement) or, if earlier, on the day the Optionee ceases to be a director of the Company, provided that the Company may, in its sole and absolute discretion, extend the exercise period for up to an additional thirty (30) consecutive days following such date (but not beyond the date of automatic expiration).
Sample 1
Life of Option. After an Exercise Event described in Section 3(b) occurs, or in the case of the right to exercise as provided in Section 3(e) due to a termination of employment, Optionee shall have the right to exercise this Option (to the extent it is vested under the vesting schedule in Section 3(a) on such date) until the earlier of (i) the date that the Option is exercised, cancelled in full or otherwise expires, or (ii) the tenth anniversary of the Grant Date.
Sample 1
Life of Option. This Option, to the extent then still in effect, shall expire and shall not be exercisable for any reason on or after the tenth anniversary of the Grant Date.
Sample 1
AutoNDA by SimpleDocs
Life of Option 
Sample 1

Related to Life of Option

  • Type of Option This Option is a Non-Qualified Stock Option.

  • Xxxxx of Option The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 15(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. If designated in the Notice of Grant as an Incentive Stock Option ("ISO"), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option ("NSO").

  • Term of Option This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

  • Term of Options Unless the Options terminate earlier pursuant to the provisions of this Agreement or the Plan, the Options shall expire on the seventh (7th) anniversary of the Grant Date (“Option Expiration Date”).

  • Duration of Option The Option shall be exercisable to the extent and in the manner provided herein for a period of ten (10) years from the Grant Date (the "Exercise Term"); provided, however, that the Option may be earlier terminated as provided in Section 6 hereof.

  • Period of Option Unless the Option is previously terminated pursuant to this Agreement, the term of the Option and this Agreement shall commence on the Date of Grant and shall terminate upon the tenth anniversary of the Date of Grant. Upon termination of the Option, all rights of the Optionee (including, without limitation, his or her guardian or legal representative) hereunder shall cease.

  • NATURE OF OPTION The Option is not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as amended, relating to “incentive stock options”.

  • Character of Option This Option is not to be treated as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended.

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Optionee may not exercise the Options to any extent after the first to occur of the following events: (a) The tenth anniversary of the Grant Date; (b) The tenth anniversary of the Grant Date if the Optionee's employment is terminated by reason of death or Permanent Disability; (c) The first anniversary of the date of the Optionee's termination of employment by reason of Retirement, by the Company or any of its Subsidiaries without Cause (other than by reason of Permanent Disability) or by the Optionee for Good Reason; (d) The date of an Optionee's termination of employment with the Company or any of its Subsidiaries by the Optionee for any reason other than as set forth in Section 3.2(b) or (c) above (without regard to Section 5 or 6 of the Management Stockholder's Agreement); (e) The date of an Optionee's termination of employment by the Company or any of its Subsidiaries for Cause; (f) The date the Option is terminated pursuant to Section 5 or 6 of the Management Stockholder's Agreement; or (g) If the Committee so determines pursuant to Section 9 of the Plan, the effective date of either the merger or consolidation of the Company into another Person, or the exchange or acquisition by another Person of all or substantially all of the Company's assets or 80% or more of its then outstanding voting stock, or the recapitalization, reclassification, liquidation or dissolution of the Company. At least ten days prior to the effective date of such merger, consolidation, exchange, acquisition, recapitalization, reclassification, liquidation or dissolution, the Committee shall give the Optionee notice of such event if the Option has then neither been previously fully exercised nor become unexercisable under this Section 3.2.

  • Termination of Options The Options will terminate at the time specified below: (a) If a Change in Control occurs after the Grant Date but prior to the Grantee’s Separation, all Options will terminate at the expiration of the Term. (b) If, in the absence of a Change in Control after the Grant Date, the Grantee’s Separation occurs prior to the Close of Business on December 31, 2023 on account of a termination of the Grantee’s employment or service for Cause, all Options that are not vested and exercisable as of the Close of Business on the date of Separation will terminate at that time and all Options that are vested and exercisable as of the Close of Business on the date of Separation will terminate at the Close of Business on the first Business Day following the expiration of the 90-day period that began on the date of the Grantee's Separation. (c) If (i) the Grantee’s Separation occurs after the Close of Business on December 31, 2023, or (ii) in the absence of a Change in Control after the Grant Date, the Grantee’s Separation occurs (A) on account of a termination of the Grantee’s employment or service without Cause, (B) on account of a termination of the Grantee’s employment or service by the Grantee with or without Good Reason, or (C) by reason of the death or Disability of the Grantee, then, in each case, all Options that are not vested and exercisable as of the Close of Business on the date of Separation after giving effect to the provisions of Sections 3 and 7 above will terminate at that time, and all Options that are vested and exercisable as of the Close of Business on the date of Separation after giving effect to the provisions of Sections 3 and 7 above will terminate at the expiration of the Term. In any event in which Options remain exercisable for a period of time following the date of the Grantee’s Separation as provided above, the Options may be exercised during such period of time only to the extent the same were vested and exercisable as provided in Section 3 above on such date of Separation (after giving effect to the application of Section 7 above). Notwithstanding any period of time referenced in this Section 8 or any other provision of this Agreement or any other agreement that may be construed to the contrary, the Options will in any event terminate not later than upon the expiration of the Term.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!