Non-exercisable Portion of Option. In the event that Grantee ceases to be an employee of MBC or an Affiliate by reason of Retirement at any time prior to Grantee's Normal Retirement Date, the portion of the Option, if any, that has not become exercisable as of the date of Retirement shall terminate on the date of Retirement.
Appears in 9 contracts
Samples: Option Agreement (Mercantile Bankshares Corp), Option Agreement (Mercantile Bankshares Corp), Option Agreement (Mercantile Bankshares Corp)
Non-exercisable Portion of Option. In the event that Grantee --------------------------------- ceases to be an employee of MBC or an Affiliate by reason of Retirement at any time prior to Grantee's Normal Retirement Date, the portion of the Option, if any, that has not become exercisable as of the date of Retirement shall terminate on the date of Retirement.
Appears in 2 contracts
Samples: Option Agreement (Mercantile Bankshares Corp), Option Agreement (Mercantile Bankshares Corp)
Non-exercisable Portion of Option. In the event that Grantee ceases to be an employee of MBC or an Affiliate by reason of Retirement at any time prior to Grantee's ’s Normal Retirement Date, the portion of the Option, if any, that has not become exercisable as of the date of Retirement shall terminate on the date of Retirement.
Appears in 1 contract
