Common use of Other Involuntary Termination or Voluntary Termination Clause in Contracts

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.

Appears in 4 contracts

Samples: Incentive Stock Option Agreement (Petroquest Energy Inc), Nonstatutory Stock Option Agreement (Petroquest Energy Inc), Incentive Stock Option Agreement (Petroquest Energy Inc)

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Other Involuntary Termination or Voluntary Termination. If Optionee’s Employment with the Company is terminated for any reason other than for Cause, retirementRetirement, death or Disability (as defined in the Plan at the time of termination of Employment)Disability, then (i) the non-vested portion of the Option Options shall immediately expire on the termination of Employment date and (ii) the vested portion of the Option Options shall expire to the extent not exercised within on or before the three (3) months after month anniversary of the date of such termination of Employmentdate. In no event may the Option Options be exercised by anyone after the earlier of (i) the expiration of the Option Period or (ii) three (3) months after the termination of EmploymentEmployment date.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Global Geophysical Services Inc), Incentive Stock Option Agreement (Global Geophysical Services Inc)

Other Involuntary Termination or Voluntary Termination. If Optionee’s '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)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 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.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Omnilynx Communications Corp)

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Other Involuntary Termination or Voluntary Termination. If Optionee’s Employment employment with the Company and its Affiliates 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)Disability, then (i) the non-vested portion of the Option shall immediately expire on the date of termination date of employment and (ii) the vested portion of the Option shall expire to the extent not exercised within three (3) 3 months after the date of such termination of Employmentemployment. In The no event may the Option be exercised by anyone after the earlier of (iof(i) the expiration of the Option Period or (ii) three (3) 3 months after termination the date of Employmenttermination.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Victory Energy Corp)

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