Other Limitations and Provisions. (i) Notwithstanding the foregoing, all Option Shares for which the Option has not theretofore been exercised shall become available for purchase if the participant's employment with the Company and its Subsidiaries terminates by (A) Retirement, (B) Total Disability of the Participant, or (C) death of the Participant while employed by the Company or one of its Subsidiaries; provided however, the Committee may allow the Participant to exercise the Option at any time, in the Committee's sole discretion. For purposes hereof, the term "
Appears in 3 contracts
Samples: Non Qualified Stock Option Award Agreement (Tenneco Automotive Inc), Non Qualified Stock Option Award Agreement (Tenneco Inc), Qualified Stock Option Award Agreement (Tenneco Automotive Inc)
Other Limitations and Provisions. (i) Notwithstanding the foregoing, all Option Shares for which the Option has not theretofore been exercised shall become available for purchase if the participant's employment with service as a director of the Company and its Subsidiaries terminates by (A) Retirement, (B) Total Disability of the Participant, or (C) death of the Participant while employed by a director of the Company or one of its SubsidiariesCompany; provided however, the Committee may allow the Participant to exercise the Option at any time, in the Committee's sole discretion. For purposes hereof, the term "
Appears in 2 contracts
Samples: Stock Option Award Agreement (Tenneco Automotive Inc), Qualified Stock Option Award Agreement (Tenneco Automotive Inc)
Other Limitations and Provisions. (i) Notwithstanding the foregoing, all Option Shares for which the Option has not theretofore been exercised shall become available for purchase if the participant's ’s employment with the Company and its Subsidiaries terminates by (A) Retirement, (B) Total Disability of the Participant, or (C) death of the Participant while employed by the Company or one of its Subsidiaries; provided however, the Committee may allow the Participant to exercise the Option at any time, in the Committee's ’s sole discretion. For purposes hereof, the term "“
Appears in 1 contract
Samples: Non Qualified Stock Option Award Agreement (Tenneco Inc)