Common use of Post-Termination Exercise Clause in Contracts

Post-Termination Exercise. Upon termination of Executive’s employment for any reason other than that described in subsection b above, Executive shall have one year to exercise any Stock Options that are vested or become vested as of the date of Executive’s termination of employment, subject to earlier expiration of the Stock Option as provided in Section 3.

Appears in 8 contracts

Samples: Employment Agreement (Mirant Corp), Employment Agreement (Mirant Corp), Employment Agreement (Mirant Corp)

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Post-Termination Exercise. Upon termination of Executive’s employment as described in subsection (b) above, Executive shall have thirty (30 days from the date of termination to exercise any vested Stock Options, subject to earlier expiration of the Stock Option as provided in Section 3. Upon termination of Executive’s employment for any reason other than that described in subsection b (b) above, Executive shall have one year from the date of termination to exercise any Stock Options that are vested or become vested as of the date of Executive’s termination of employment, subject to earlier expiration of the Stock Option as provided in Section 3.

Appears in 1 contract

Samples: Stock Option Award Agreement (Mirant Corp)

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