Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b) and (c) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b) and (c) below, it will automatically become a Non-Qualified Stock Option: (a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date"). (b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately. (c) If the Optionee's employment terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment. (d) If the Optionee dies while employed, or during the three-month period described in subsection (b) above or during the one-year period described in subsection (c) above and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 of the Plan).
Appears in 16 contracts
Samples: Stock Option Agreement (Accredo Health Inc), Stock Option Agreement (Accredo Health Inc), Incentive Stock Option Agreement (Accredo Health Inc)
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (cd) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b), (c) and (cd) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately.
(c) If the Optionee's employment terminates by reason of Retirement, the Option shall lapse one year after the date of the Optionee's termination of employment; provided, however that to the extent that the Option is not exercised within three months after the Optionee's Retirement, the unexercised portion of the Option will automatically become a Non-Qualified Stock Option.
(d) If the Optionee's employment terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.
(de) If the Optionee dies while employed, or during the three-month period described in subsection (b) above or during the one-year period described in subsection (c) or (d) above and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 13 of the Plan).
Appears in 7 contracts
Samples: Incentive Stock Option Agreement (Accredo Health Inc), Incentive Stock Option Agreement (Accredo Health Inc), Incentive Stock Option Agreement (Accredo Health Inc)
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (cd) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b) and (c) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth fifth year and three month anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment or service as a director or consultant for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment or service is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the CompanyCause, the Option shall lapse immediately.
(c) If the Optionee's employment or service as a director or consultant terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employmentemployment or service.
(d) If the Optionee dies while employedemployed or otherwise in service as a director or consultant, or during the three-month period described in subsection (b) above or during the one-year period described in subsection (c) above and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employmentemployment or service, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment or service (including vesting by acceleration in accordance with Article 9 14 of the Plan).
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Eplus Inc), Non Qualified Stock Option Agreement (Eplus Inc)
Period of Option and Limitations on Right to Exercise. The Option willterm of the Options will be for a period of ten years, to expiring at 5:00 p.m., Pacific Time, on the tenth anniversary of the Grant Date (the “Expiration Date”). To the extent not previously exercised, the Options will lapse under prior to the Expiration Date upon the earliest to occur of the following circumstances; provided:
(a) Three months after the termination of Optionee’s employment for any reason other than (i) by reason of Optionee’s death or Disability, however(ii) a Termination in Absence of Change of Control, that (iii) a Termination Upon Change of Control, or (iv) for Cause.
(b) Twelve months after the termination of Optionee’s employment by reason of Optionee’s death or Disability
(c) Twelve months after the end of the transition period described in Section 5.3 of the Retention Agreement (the “Transition Period”) or, if no such Transition Period is requested, twelve months after the date of a Termination Upon Change of Control or a Termination in Absence of Change of Control.
(d) One month after the termination of Optionee’s employment for Cause. The Committee may, prior to the lapse of the Option Options under the circumstances described in paragraphs subparagraphs (a), (b) and ), (c) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b) and (c) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately.
(c) If the Optionee's employment terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.
(d) above, extend the time to exercise the Options as determined by the Committee in writing. If Optionee returns to employment with the Optionee dies while employed, or Company during the threedesignated post-month termination exercise period, then Optionee shall be restored to the status Optionee held prior to such termination but no vesting credit will be earned for any period described in subsection (b) above or during the one-year period described in subsection (c) above and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised Optionee was not employed by the Optionee's beneficiaryCompany. If the Optionee or his or her beneficiary exercises an Option after termination of employment, the Option Options may be exercised only with respect to the shares Shares that were otherwise vested on the Optionee's ’s termination of employment (service, including vesting Options vested by acceleration in accordance with Article 9 of the Plan)under Section 3.
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Period of Option and Limitations on Right to Exercise. The Option will, ----------------------------------------------------- to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (cd) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b), (c) and (cd) belowabove, it will automatically become a Non-Qualified NonQualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Permanent and Total Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately.
(c) If In the event of termination of employment because of Optionee's employment terminates by reason of Permanent and Total Disability, the Option shall lapse one year after the date of the Optionee's termination Termination of employment.
(d) If the Optionee dies while employedemployed by the Company or any of its Subsidiaries, or during the three-month period described in subsection (b) above above, or during the one-year period described in subsection (c) above above, and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 of the Plan)employment.
Appears in 1 contract
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (cd) below, provide in writing that the Option will extend until a later date; provided, but if that, for avoidance of doubt, in no event will the Option is exercised after remain outstanding beyond the dates specified Expiration Date set forth in paragraphs paragraph (b) and (ca) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately.
(c) If the Optionee's employment terminates by any reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.;
(d) If the Optionee dies while employed, or during the three-month period described in subsection (b) above or during the one-year period described in subsection (cd) above and before Stock Option Agreement – ________________ the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 14 of the Plan).
Appears in 1 contract
Samples: Stock Option Agreement (UDR, Inc.)
Period of Option and Limitations on Right to Exercise. The Option ----------------------------------------------------- will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (cd) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b), (c) and (cd) belowabove, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Permanent and Total Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately.
(c) If In the event of termination of employment because of Optionee's employment terminates by reason of Permanent and Total Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.
(d) If the Optionee dies while employedemployed by the Company or any of its Subsidiaries, or during the three-month period described in subsection (b) above above, or during the one-year period described in subsection (c) above above, and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 of the Plan)employment.
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Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (cd) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b) and (c) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company Company, a Parent, or a Subsidiary for cause (as defined below) or by the Optionee without the consent of the Company, a Parent, or a Subsidiary, the Option shall lapse immediately.
(c) If the Optionee's employment terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.
(d) If the Optionee dies before the Option otherwise lapses and (i) while employed, or (ii) during the three-month period described in subsection (b) above above, or (iii) during the one-year period described in subsection (c) above and before the Option otherwise lapsesabove, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 Sections 9.7, 9.8, 9.9 and/or 9.10 of the Plan). Whether a termination of employment has occurred, as contemplated by this Paragraph 3, shall be determined in accordance with the applicable provisions of the Plan, including, but not limited to, Section 3.1(j) thereof.
Appears in 1 contract
Samples: Incentive Stock Option Agreement (First Security Group Inc/Tn)
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (cd) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b) and (c) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company Company, a Parent, or a Subsidiary for cause (as defined below) or by the Optionee without the consent of the Company, a Parent, or a Subsidiary, the Option shall lapse immediately.
(c) If the Optionee's employment terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.
(d) If the Optionee dies before the Option otherwise lapses and (i) while employed, or (ii) during the three-month period described in subsection (b) above above, or (iii) during the one-year period described in subsection (c) above and before the Option otherwise lapsesabove, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 Sections 9.9, 9.10., 9.11 and/or 9.12 of the Plan).
Appears in 1 contract
Samples: Incentive Stock Option Agreement (First Security Group Inc/Tn)
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b), (c) and (cd) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs (b) and (c) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Time, on the tenth anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination date the Optionee ceases to serve on the Board of employment Directors of the Company, a Parent, or a Subsidiary for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by Optionee ceases to serve on the Company for cause (as defined below) or by the Optionee without the consent Board of Directors of the Company, a Parent, or a Subsidiary by reason of a voluntary resignation during the term of his appointment or voluntarily chooses not to stand for re-election, then the Option shall lapse immediately.
(c) If the Optionee's employment terminates Optionee ceases to serve on the Board of Directors of the Company, a Parent, or a Subsidiary by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employmentservice.
(d) If the Optionee dies before the Option otherwise lapses and (i) while employedserving on the Board of Directors of the Company, a Parent, or a Subsidiary, (ii) during the three-month period described in subsection (b) above above, or (iii) during the one-year period described in subsection (c) above and before the Option otherwise lapsesabove, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employmentservice, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination date the Optionee ceased to serve on the Board of employment Directors of the Company, a Parent, or a Subsidiary (including vesting by acceleration in accordance with Article 9 Sections 9.7, 9.8, 9.9 and/or 9.10 of the Plan).
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (First Security Group Inc/Tn)
Period of Option and Limitations on Right to Exercise. The Option will, to the extent not previously exercised, lapse under the earliest of the following circumstances; provided, however, that the Committee may, prior to the lapse of the Option under the circumstances described in paragraphs (b) ), (c), and (cd) below, provide in writing that the Option will extend until a later date, but if the Option is exercised after the dates specified in paragraphs paragraph (b) ), (c), and (cd) below, it will automatically become a Non-Qualified Stock Option:
(a) The Option shall lapse as of 5:00 p.m., Eastern Central Time, on the tenth seventh anniversary of the date of grant (the "Expiration Date").
(b) The Option shall lapse three months after the Optionee's termination of employment for any reason other than the Optionee's death or Disability; provided, however, that if the Optionee's employment is terminated by the Company for cause (as defined below) or by the Optionee without the consent of the Company, the Option shall lapse immediately.
(c) If the Optionee's employment terminates by reason of Disability, the Option shall lapse one year after the date of the Optionee's termination of employment.
(d) If the Optionee dies while employed, or during the three-three month period described in subsection (b) above or during the one-one year period described in subsection (c) above and before the Option otherwise lapses, the Option shall lapse one year after the date of the Optionee's death. Upon the Optionee's death, the Option may be exercised by the Optionee's beneficiary. If the Optionee or his beneficiary exercises an Option after termination of employment, the Option may be exercised only with respect to the shares that were otherwise vested on the Optionee's termination of employment (including vesting by acceleration in accordance with Article 9 13 of the Plan).
Appears in 1 contract
Samples: Incentive Stock Option Agreement (Regions Financial Corp)