Other Involuntary Termination or Voluntary Termination. If Optionee’s Employment is terminated for any reason other than for Cause, Retirement, death or Disability, then (i) the non-vested portion of the Option shall immediately expire on the termination of Employment date and (ii) the vested portion of the Option shall expire to the extent not exercised within 90 calendar days after such termination date. In no event may the Option be exercised by anyone after the earlier of (i) the expiration of the Option Period or (ii) 90 calendar days after the termination of Employment date even if Optionee becomes deceased during such period.
Other Involuntary Termination or Voluntary Termination. If Optionee's employment is terminated involuntarily other than for gross misconduct or if Optionee voluntarily terminates employment, then immediately (i) the Option shall terminate as to Shares subject thereto to the extent not yet then vested pursuant to Paragraph 4 or pursuant to Paragraph 6(c) below, and (ii) the Option shall terminate as to all remaining Shares subject thereto to the extent not exercised pursuant to Paragraph 5 within 30 days after such termination of employment.
Other Involuntary Termination or Voluntary Termination. If Optionee’s Employment with the Company is terminated for any reason other than for Cause, retirement, death or Disability (as defined in the Plan at the time of termination of Employment), then (i) the non-vested portion of the Option shall immediately expire on the termination date (ii) the vested portion of the Option shall expire to the extent not exercised within three (3) months after the date of such termination of Employment. In no event may the Option be exercised by anyone after the earlier of (i) the expiration of the Option Period or (ii) three (3) months after termination of Employment.
Other Involuntary Termination or Voluntary Termination. If Optionee's Board membership is terminated for any reason other than for Cause, voluntary termination, resignation after a ten-year term, death or Disability, then (i) the non-vested portion of the Option shall immediately expire on the termination date and (ii) the vested portion of the Option shall expire to the extent not exercised within six (6) calendar months after such termination date. In no event may the Option be exercised by anyone after the earlier of (i) the expiration of the Option Period or (ii) six (6) calendar months after the termination of Employment date.
Other Involuntary Termination or Voluntary Termination. If Optionee's employment with the Company (or any of its Subsidiaries) is terminated for any reason other than for cause, death or disability, then (i) the Option will immediately terminate to the extent it is unvested and (ii) the vested portion of the Option will terminate to the extent not exercised within 180 calendar days after the date of such termination. In no event may the Option be exercised by anyone after the earlier of (i) the expiration of the Option Period or (ii) 180 calendar days after termination of employment.
Other Involuntary Termination or Voluntary Termination. Subject to the Vesting Schedule in Section 17, if Optionee’s directorship is terminated for any reason other than for Cause, then (i) any non-vested portion of the Option shall immediately expire on the termination date and (ii) the vested portion of the Option shall expire to the extent not exercised as of the earlier of (A) the expiration of the Option Period or (B) two (2) years after the effective date of his termination of directorship.
Other Involuntary Termination or Voluntary Termination. If Optionee’s employment is terminated involuntarily other than for gross misconduct or if Optionee voluntarily terminates employment, then immediately (i) the Option shall terminate as to Shares subject thereto to the extent not yet then vested pursuant to Paragraph 4 or not then exercisable pursuant to Paragraph 6(c) below, (ii) the Option shall terminate as to all remaining Shares subject thereto to the extent not exercised pursuant to Paragraph 5 within 30 days after such termination of employment (or, as to Shares for which the Option may then be exercised pursuant to Paragraph 6(c) below, to the extent not exercised within the 30 day period described therein) and (iii) all restrictions (other than those described in Paragraph 10) on transfer of Shares acquired pursuant to the Option shall terminate.
Other Involuntary Termination or Voluntary Termination. If Optionee’s Board membership is terminated for any reason other than for Cause, voluntary termination, resignation after a one-year term, death or Disability, then (i) the non-vested portion of the Option shall immediately expire on the termination date and (ii) the vested portion of the Option shall expire to the extent not exercised within the later of (a) 90 calendar days after such termination date and (b) 150 calendar days after the Closing Date (as defined in the Agreement and Plan of Merger (as such agreement may be amended, the “Merger Agreement”) dated April 20, 2008, by and among the Company, Grey Wolf, Inc. a Texas corporation and Horsepower Holdings, Inc., a Delaware corporation). In no event may the Option be exercised by anyone after the earlier of (i) the expiration of the Option Period or (ii) the later of (a) 90 calendar days after the termination of Board membership date and (b) 150 calendar days after the Closing Date (as defined in the Merger Agreement).
Other Involuntary Termination or Voluntary Termination. If the Participant’s incurs a Termination of Service for whatever reason, or the Participant resigns for any reason, either voluntarily or involuntarily, except for Cause, Retirement, death or Total and Permanent Disability as set out above, then (i) subject to the Vesting Schedule, any non-vested portion of the Option shall immediately expire on the Termination of Service date and (ii) any vested portion of the Option shall expire to the extent not exercised within one hundred twenty (120) days after such Termination of Service; provided, however, in no event may the Option be exercised by anyone after expiration of the Option Period.
Other Involuntary Termination or Voluntary Termination. If Optionee's employment with the Company (or any of its Subsidiaries) is terminated for any reason other than (i) by the Company for Cause, (ii) by the Company without Cause, (iii) by Optionee with Good Reason, or (iv) death or disability (as defined in the Employment Agreement) then at the time of termination (i) the Option will immediately terminate to the extent it is unvested, and (ii) the vested portion of the Option will terminate to the extent not exercised within 90 calendar days after the date of such termination. In no event may the Option be exercised by anyone after the earlier of (i) the expiration of the Option Period, or (ii) 90 calendar days after termination of employment pursuant to this Section 7(c).
