Common use of Other Reason Clause in Contracts

Other Reason. In the case of a Grantee whose employment is terminated for any reason other than those provided above, the Grantee may, within sixty (60) days following the termination (or if the Board has notified the Grantee of its intent to register an offering of the Company's securities as described in Section 1.4 of this Agreement, the time period becomes sixty (60) days following the 180-day lock-up period provided for in Section 1.4) exercise an Option to the extent the right to exercise had accrued prior to termination; provided, however that the Company may retain the shares of Stock issuable upon exercise of an Option pursuant to this paragraph (iv) for a period of sixty (60) days from exercise and, if the Grantee becomes employed or otherwise associated with a competitor or enters into an agreement to do so during that sixty (60) day period, either as a director, officer, employee, agent, representative or otherwise, then the Company may retain and cancel those shares, refund the exercise price paid by the Grantee and thereafter all rights of the Grantee in the Stock shall immediately cease; and provided, further, that if the Grantee dies prior to the end of the sixty (60) day period after termination of employment, his or her estate (as defined above) shall have the right, subject to the procedures set forth above, to exercise the Option within one year following the termination.

Appears in 4 contracts

Samples: Stock Option Agreement (Mail Com Inc), Stock Option Agreement (Mail Com Inc), Stock Option Agreement (Mail Com Inc)

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Other Reason. In the case of a Grantee whose employment is terminated for any reason other than those provided above, the Grantee may, within sixty (60) days following the termination (or if the Board has notified the Grantee of its intent to register an offering of the Company's securities as described in Section 1.4 of this Agreement, the time period becomes sixty (60) days following the 180-day lock-up period provided for in Section 1.4) exercise an Option to the extent the right to exercise had accrued prior to termination; provided, however that the Company may retain the shares of Stock issuable upon exercise of an Option pursuant to this paragraph (iv) for a period of sixty (60) days from exercise and, if the Grantee becomes employed or otherwise associated with a competitor or enters into an agreement to do so during that sixty (60) day period, either as a director, officer, employee, agent, representative or otherwise, then the Company may retain and cancel those shares, refund the exercise price paid 3 EXHIBIT 99.6 by the Grantee and thereafter all rights of the Grantee in the Stock shall immediately cease; and provided, further, that if the Grantee dies prior to the end of the sixty (60) day period after termination of employment, his or her estate (as defined above) shall have the right, subject to the procedures set forth above, to exercise the Option within one year following the termination.

Appears in 1 contract

Samples: Stock Option Agreement (Mail Com Inc)

Other Reason. In the case of a Grantee whose employment is terminated for any reason other than those provided above, the Grantee may, within sixty (60) days following the termination (or if the Board has notified the Grantee of its intent to register an offering of the Company's securities as described in Section 1.4 of this Agreement, the time period becomes sixty (60) days following the 180-day lock-up period provided for in Section 1.4) exercise an Option to the extent the right to exercise had accrued prior to termination; provided, however that the Company may retain the shares of Stock issuable upon exercise of an Option pursuant to this paragraph (iv) for a period of sixty (60) days from exercise and, if the Grantee becomes employed or otherwise associated with a competitor or enters into an agreement to do so during 3 EXHIBIT 99.4 that sixty (60) day period, either as a director, officer, employee, agent, representative or otherwise, then the Company may retain and cancel those shares, refund the exercise price paid by the Grantee and thereafter all rights of the Grantee in the Stock shall immediately cease; and provided, further, that if the Grantee dies prior to the end of the sixty (60) day period after termination of employment, his or her estate (as defined above) shall have the right, subject to the procedures set forth above, to exercise the Option within one year following the termination.

Appears in 1 contract

Samples: Stock Option Agreement (Mail Com Inc)

Other Reason. In the case of a Grantee whose employment is terminated for any reason other than those provided above, the Grantee may, within sixty (60) days following the termination (or if the Board has notified the Grantee of its intent to register an offering of the Company's securities as described in Section 1.4 of this Agreement, the time period becomes sixty (60) days following the 180-day lock-up period provided for in Section 1.4) exercise an Option to the extent the right to exercise had accrued prior to termination; provided, however that the Company may retain the shares of Stock issuable upon exercise of an Option pursuant to this paragraph (iv) for a period of sixty (60) days from exercise and, if the Grantee becomes employed or otherwise associated with a competitor or enters into an agreement to do so during 3 EXHIBIT 99.3 that sixty (60) day period, either as a director, officer, employee, agent, representative or otherwise, then the Company may retain and cancel those shares, refund the exercise price paid by the Grantee and thereafter all rights of the Grantee in the Stock shall immediately cease; and provided, further, that if the Grantee dies prior to the end of the sixty (60) day period after termination of employment, his or her estate (as defined above) shall have the right, subject to the procedures set forth above, to exercise the Option within one year following the termination.

Appears in 1 contract

Samples: Stock Option Agreement (Mail Com Inc)

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Other Reason. In the case of a Grantee whose employment is terminated for any reason other than those provided above, the Grantee may, within sixty (60) days following the termination (or if the Board has notified the Grantee of its intent to register an offering of the Company's securities as described in Section 1.4 of this Agreement, the time period becomes sixty (60) days following the 180-day lock-up period provided for in Section 1.4) exercise an Option to the extent the right to exercise had accrued prior to termination; provided, however that the Company may retain the shares of Stock issuable upon exercise of an Option pursuant to this paragraph (iv) for a period of sixty (60) days from exercise and, if the Grantee becomes employed or otherwise associated with a competitor or enters into an agreement to do so during that sixty (60) day period, either as a director, officer, employee, agent, representative or 3 EXHIBIT 99.8 otherwise, then the Company may retain and cancel those shares, refund the exercise price paid by the Grantee and thereafter all rights of the Grantee in the Stock shall immediately cease; and provided, further, that if the Grantee dies prior to the end of the sixty (60) day period after termination of employment, his or her estate (as defined above) shall have the right, subject to the procedures set forth above, to exercise the Option within one year following the termination.

Appears in 1 contract

Samples: Stock Option Agreement (Mail Com Inc)

Other Reason. In the case of a Grantee whose employment is terminated for any reason other than those provided above, the Grantee may, within sixty (60) days following the termination (or if the Board has notified the Grantee of its intent to register an offering of the Company's securities as described in Section 1.4 of this Agreement, the time period becomes sixty (60) days following the 180-day lock-up period provided for in Section 1.4) exercise an Option to the extent the right to exercise had accrued prior to termination; provided, however that the Company may retain the shares of Stock issuable upon exercise of an Option pursuant to this paragraph (iv) for a period of sixty (60) days from exercise and, if the Grantee becomes 3 EXHIBIT 99.2 employed or otherwise associated with a competitor or enters into an agreement to do so during that sixty (60) day period, either as a director, officer, employee, agent, representative or otherwise, then the Company may retain and cancel those shares, refund the exercise price paid by the Grantee and thereafter all rights of the Grantee in the Stock shall immediately cease; and provided, further, that if the Grantee dies prior to the end of the sixty (60) day period after termination of employment, his or her estate (as defined above) shall have the right, subject to the procedures set forth above, to exercise the Option within one year following the termination.

Appears in 1 contract

Samples: Stock Option Agreement (Mail Com Inc)

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