Option Expiration. The Option shall automatically terminate upon the happening of the first of the following events:
(a) the expiration of the 90-day period after the Grantee ceases to be employed by, or providing services to, the Company, if the termination is for any reason other than involuntary termination without Cause or voluntary termination with Good Reason, Disability, death, Cause, a Change of Control Termination or retirement as provided herein;
(b) the expiration of the one-year period after the Grantee ceases to be employed by, or providing services to, the Company, on account of the Grantee’s involuntary termination without Cause or voluntary termination with Good Reason (not including a Change of Control Termination);
(c) the expiration of the one-year period after the Grantee ceases to be employed by, or providing services to, the Company on account of the Grantee’s Disability;
(d) the expiration of the one-year period after the Grantee ceases to be employed by, or providing services to, the Company if the Grantee dies while employed by the Company or if the Grantee dies within three months after the Grantee ceases to be so employed on account of a termination described in subparagraph (a) above;
(e) the date on which the Grantee ceases to be employed by, or providing services to, the Company for Cause;
(f) the expiration of the one-year period after the Grantee’s employment or service terminates as a result of retirement on or after the Grantee’s sixty-fifth birthday, or after such earlier date as may be determined by the Committee, in its sole discretion, to be warranted given the particular circumstances surrounding the earlier termination of the Grantee’s employment or service; or
(g) where there has been a Change of Control Termination, the two-year period after the Grantee ceases to be employed by, or providing services to, the Company, on account of the Grantee experiencing a Change of Control Termination.
Option Expiration. The Option shall automatically terminate upon the happening of the first of the following events:
(a) The expiration of the three-month period after the Grantee ceases to be employed by, or in the service of, the Company if the termination is for any reason other than disability, death or cause;
(b) The expiration of the one-year period after the Grantee ceases to be employed by, or in the service of, the Company on account of the Grantee's disability;
(c) The expiration of the one-year period after the Grantee ceases to be employed by, or in the service of, the Company, if the Grantee dies while employed by the Company or within three months after the Grantee ceases to be so employed or provide such services on account of a termination described in subparagraph (a) above; or
(d) The date on which the Grantee ceases to be employed by the Company for cause. For purposes of this Option, cause shall mean, except to the extent otherwise specified by the Committee, a finding by the Committee that the Grantee has breached his employment or service contract, non-competition agreement or other obligation with the Company, or has been engaged in disloyalty to the Company, including without limitation, fraud, embezzlement, theft, commission of a felony or proven dishonesty in the course of his employment of service, or has disclosed trade secrets or confidential information of the Company to persons not entitled to receive such information. Notwithstanding the foregoing, in no event may the Option be exercised after the expiration of the Term of Option specified herein. Any portion of the Option that is not vested at the time the Grantee ceases to be employed by, or in the service of, the Company shall immediately terminate. In the event a Grantee ceases to be employed by the Company for cause, the Grantee shall automatically forfeit all shares underlying any exercised portion of an Option for which the Company has not yet delivered the share certificates upon refund by the Company of the exercise price paid by the Grantee for such shares.
Option Expiration. This Option may be exercised only within the term set out in the Notice of Grant and this Section E, and may be exercised during such term only in accordance with the Plan and the terms of this Award Agreement.
Option Expiration. In the event that the PoC Option Deadline Period expires without GSK having exercised its PoC Option with respect to a particular PoC Compound, Anacor shall have the exclusive right, at its sole discretion, to develop such PoC Compound in the Territory in the Field as an Anacor Development Compound and a Product, alone or with any Third Party or through any Sublicensee. GSK will have no further obligations to make milestone payments to Anacor for such Anacor Development Compound. Upon a written request from Anacor, GSK hereby grants to Anacor, conditional upon Anacor's request within [***] following the expiration of such PoC Option Deadline Period, a non-exclusive license, with the right to grant sublicenses, under the GSK IP for the use, manufacture, sale or commercialization of such Anacor Development Compound, to further develop and commercialize such Anacor Development Compound as a Product in the Territory in the Field. Solely in the event that Anacor requests and receives such license from GSK, Anacor shall owe to GSK the applicable milestone and royalty payments set forth in Article 6 for such Anacor Development Compound. In the event that Anacor does not request, within [***] following the expiration of such PoC Option Deadline Period, a non-exclusive, sublicensable license under the GSK IP as provided herein, GSK shall be free to grant to any Third Party rights under the GSK IP for the use, manufacture, sale or commercialization of such Anacor Development Compound.
Option Expiration. Upon the Commencement of Construction of the Project, the Repurchase Option shall terminate. Until such time, the Repurchase Option shall be binding upon and shall inure to the benefit of the respective successors in interest to the Parties hereto and permitted assigns. Upon the termination of the Repurchase Option, City shall cause to be issued a Notice of Termination of Repurchase Option.
Option Expiration. If accepted within the specified time frame, this option agreement will be expiring on 11/30/2017, unless the buyer/optionee exercise his option to purchase said property at the agreed upon price set forward in this agreement.
Option Expiration. You cannot exercise the Option after it has expired. The Option will expire no later than the close of business on the Term Expiration Date. Unexercisable portions of the Option expire immediately when you cease to be employed (unless you are concurrently remaining or becoming a member of the Board, or unless the Company terminates your employment without Cause, as specified above). If the Company terminates your employment for Cause, the Option will immediately expire without regard to whether it is then exercisable. Exercisable portions of the Option remain exercisable until the first to occur of the following (the “Final Exercise Date”), each as defined further in the Plan or the Grant Agreement, and then immediately expire: • Immediately upon termination of employment by the Company for Cause • The 30th day after your employment (or directorship) ends if you resign other than on Retirement (including resignation for Good Reason, if applicable) (the “30-Day Period”) • The 90th day after your employment (or directorship) ends if the Company terminates your employment without Cause (even if then eligible for Retirement, except as the Committee otherwise provides) • For death, Disability, or Retirement, the first anniversary of the date employment ends (unless the Company has terminated your employment without Cause while you are eligible for Retirement, in which case the 90-Day Period, above, applies). If you die during the 30-Day Period or the 90-Day Period, the first anniversary of the date employment ends will be substituted for the end of the 30-Day Period or the 90-Day Period, as applicable. • The Term Expiration Date If you die during the 30 or 90 day period after your employment ends (on a termination without Cause or a resignation), the period for exercise will be extended until the first anniversary of the date your employment ended, subject to the Term Expiration Date, and the extended date will be the Final Exercise Date. The Committee can override the expiration provisions of this Grant Agreement.
Option Expiration. Your Option will expire on the seventh (7th) anniversary (“Expiration Date”) of the Grant Date, unless sooner terminated due to your Termination of Employment as described below. If the Expiration Date falls on a Saturday, Sunday or holiday, your Option will instead expire on the next following business day.
Option Expiration. The expiration of the Option Period.
Option Expiration. If Schering fails to exercise the Option prior to the end of the Option Period, then upon expiration of the Option Period, Schering’s Option shall expire, in which case Schering shall have no further rights or interests in or to the Compound, Products, Patent Rights or Know-How, and ViroPharma shall have no further obligation to Schering under this Agreement with respect to the licenses contemplated hereunder.
