Options Upon Termination Sample Clauses
The "Options Upon Termination" clause defines the rights and actions available to the parties when the contract ends, whether by expiration or early termination. Typically, this clause outlines what happens to outstanding obligations, such as payment for services already rendered, the return or destruction of confidential information, or the transition of work in progress. Its core function is to provide a clear roadmap for winding down the contractual relationship, minimizing disputes and ensuring both parties understand their responsibilities at the end of the agreement.
Options Upon Termination. Except as otherwise provided in Section 7, upon termination of Executive’s employment for any reason and subject to the terms of the Company’s Stock Plan, as it may be amended from time to time, including by reason of Executive’s death or permanent disability, any portion of any options held by the Executive that are not then vested will immediately be forfeited and expire for no consideration and the remainder of such options will remain exercisable pursuant to the terms of the Company’s Stock Plan (with the understanding that any options that are intended to be “incentive stock options” under the Code shall thereupon be disqualified from such treatment); provided, that any portion of the options held by Executive immediately prior to Executive’s death, to the extent then exercisable, will remain exercisable pursuant to the terms of the Company’s following Executive’s death; and provided, further, that in no event shall any portion of the options be exercisable after the Final Exercise Date.
Options Upon Termination. If a Terminating Event occurs, then any party may give notice of the Termination Event and that such party wishes to terminate this Agreement. However, Developer may take additional actions to cure the Termination Event, to the extent such event may be cured. Termination will occur on the date written in the notice of termination.
Options Upon Termination. At termination date of the Agreement, VOLARIS shall have the option to purchase all or a part of the Consignment Inventory at the original purchase price. ***** ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.
Options Upon Termination. Except as otherwise provided in this Section 9F, upon termination of Employee’s employment for any reason other than a Termination for Cause, including by reason of Employee’s death or permanent disability, any portion of the Options that are not then exercisable will immediately expire and the remainder of the Options will remain exercisable for three months; provided, that any portion of the Options held by Employee immediately prior to Employee’s death, to the extent then exercisable, will remain exercisable for one year following Employee’s death; and further provided, that in no event shall any portion of the Options be exercisable after the Final Exercise Date. Notwithstanding anything to the contrary in this Agreement, in the event that Employee experiences a Termination for Cause, all Options, whether or not then vested, shall immediately expire upon such Termination for Cause and no portion thereof shall remain exercisable.
Options Upon Termination. Upon termination of Employee’s employment for any reason and subject to the terms of the Company’s 2010 Stock Incentive Plan, as it may be amended from time to time, including by reason of Employee’s death or permanent disability, any portion of any options held by the Employee that are not then vested will immediately be forfeited and expire for no consideration and the remainder of such options will remain exercisable for twelve months thereafter (with the understanding that any options that are intended to be incentive stock options shall thereupon be disqualified from such treatment); provided, that any portion of the options held by Employee immediately prior to Employee’s death, to the extent then exercisable, will remain exercisable for one year following Employee’s death; and further provided, that in no event shall any portion of the options be exercisable after the Final Exercise Date.
Options Upon Termination. If the Company terminates your employment without cause, your severance benefits (including vesting of options) will be governed by Section 8 and Section 9 of this Amended and Restated Employment Agreement. If the Company terminates your employment "for cause," as defined in Section 8, then all of your unexercised options, whether or not vested, shall expire and become unexercisable as of the date of such "for cause" termination. In order to permit a so called "cashless exercise" of your option, the Company will cooperate with you to permit you to exercise the option (to the extent it is then exercisable), immediately sell the shares and apply the proceeds of sale to the exercise price but only to the extent the Company can do so without violating any applicable provision of law and only if the shares purchased are at the time registered under the Securities Act of 1933 and can be sold by you under Rule 144 of the Securities and Exchange Commission or any successor provision.
Options Upon Termination. Upon termination of Employee’s employment for any reason other than a Termination for Cause, including by reason of Employee’s death or permanent disability, any portion of the Employee’s stock options that are not then exercisable will immediately expire and the remainder of such stock options will remain exercisable for a period of eighteen months following the later of the date of Employee’s termination of employment with the Company or April 24, 2013. Notwithstanding anything to the contrary in this Agreement, in the event that Employee experiences a Termination for Cause, all stock options, whether or not then vested, shall immediately expire upon such Termination for Cause and no portion thereof shall remain exercisable.
Options Upon Termination. If the Company terminates your employment without cause, your severance benefits (including vesting of options) will be governed by Section 8 and Section 9 of this letter agreement. If the Company terminates your employment "for cause," as defined in Section 8, then all of your unexercised options, whether or not vested, shall expire and become unexercisable as of the date of such "for cause" termination. In order to permit a so called "cashless exercise" of your option, the Company will cooperate with you to permit you to exercise the option (to the extent it is then exercisable), immediately sell the shares and apply the proceeds of sale to the exercise price but only to the extent the Company can do so without violating any applicable provision of law and only if the shares purchased are at the time registered under the Securities Act of 1933 and can be sold by you under Rule 144 of the Securities and Exchange Commission or any successor provision.