Common use of Option Exercise Period Clause in Contracts

Option Exercise Period. This option may not be exercised prior to vesting. Upon the termination of your employment, any options that are not yet vested (after taking into account any accelerated vesting provided for in Section (3) of this Agreement) shall expire immediately. To the extent not exercised, vested options shall expire on May 17, 20 , unless they expire sooner as provided below: (a) To the extent not previously exercised, vested options shall expire immediately upon the termination of your employment for cause. (b) To the extent not previously exercised, vested options shall expire on the first anniversary of the termination of your employment as a result of your death or Permanent Disability. (c) To the extent not previously exercised, vested options shall expire three months after the termination of your employment for any reason other than the termination of your employment for cause or the termination of your employment as a result of your death or Permanent Disability. In the event of your death during the post-employment exercise period, the exercise period shall be extended to the first anniversary of the termination of your employment.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Legg Mason Inc)

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Option Exercise Period. This option may not be exercised prior to vesting. Upon the termination of your employment, any options that are not yet vested (after taking into account any accelerated vesting provided for in Section (3) of this Agreement) shall expire immediately. To the extent not exercised, all vested and unvested options shall expire on May 172, 20 2023, unless they expire sooner as provided below: (a) To the extent not previously exercised, vested options shall expire immediately upon the termination of your employment for causeCause. (b) To the extent not previously exercised, vested options shall expire on the first anniversary of the termination of your employment as a result of your death or Permanent Disability. (c) To the extent not previously exercised, vested options shall expire three months after the termination of your employment for any reason other than the termination of your employment for cause Cause or the termination of your employment as a result of your death or Permanent Disability. In the event of your death during the post-employment exercise period, the exercise period shall be extended to the first anniversary of the termination of your employment.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Legg Mason, Inc.)

Option Exercise Period. This option may not be exercised prior to vesting. Upon the termination of your employment, any options that are not yet vested (after taking into account any accelerated vesting provided for in Section (3) of this Agreement) shall expire immediately. To the extent not exercised, vested options shall expire on May 17, 20 2018, unless they expire sooner as provided below: (a) To the extent not previously exercised, vested options shall expire immediately upon the termination of your employment for cause. (b) To the extent not previously exercised, vested options shall expire on the first anniversary of the termination of your employment as a result of your death or Permanent Disability. (c) To the extent not previously exercised, vested options shall expire three months after the termination of your employment for any reason other than the termination of your employment for cause or the termination of your employment as a result of your death or Permanent Disability. In the event of your death during the post-employment exercise period, the exercise period shall be extended to the first anniversary of the termination of your employment.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Legg Mason Inc)

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Option Exercise Period. This option may not be exercised prior to vesting. Upon the termination of your employment, any options that are not yet vested (after taking into account any accelerated vesting provided for in Section (3) of this Agreement) shall expire immediately. To the extent not exercised, vested options shall expire on May 17, 20 , unless they expire sooner as provided below: (a) To the extent not previously exercised, vested options shall expire immediately upon the termination of your employment for cause. (b) To the extent not previously exercised, vested options shall expire on the first anniversary of the termination of your employment as a result of your death or Permanent Disability. (c) To the extent not previously exercised, vested options shall expire three months after the termination of your employment for any reason other than the termination of your employment for cause or the termination of your employment as a result of your death or Permanent Disability. In the event of your death during the post-employment exercise period, the exercise period shall be extended to the first anniversary of the termination of your employment.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Legg Mason Inc)

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