Removal for Circumstance involving Cause. If the Company’s Board of Directors, after due deliberation, removes Optionee as a member of the Company’s Board of Directors for circumstances involving Cause, or if, after Optionee is removed as a member of the Company’s Board of Directors, the Board of Directors within twelve (12) months determines that Cause existed before such removal as a Director, the entire Option shall not continue to vest, shall be cancelled and terminated as of the date of such removal as a Director, and shall no longer be exercisable as to any Shares, whether or not previously vested, that have not been exercised in the interim.
Appears in 3 contracts
Samples: Director Stock Option Grant Notice and Option Agreement (PNK Entertainment, Inc.), Notice and Option Agreement (PNK Entertainment, Inc.), Director Stock Option Grant Notice and Option Agreement (Pinnacle Entertainment Inc.)
Removal for Circumstance involving Cause. If the Company’s Board of Directors, Directors after due deliberation, deliberation removes Optionee as a member of the Company’s Board of Directors for circumstances involving Cause, or if, after Optionee is removed as a member of the Company’s Board of Directors, the Board of Directors within twelve (12) months determines that Cause existed before such removal as a Director, the entire Option shall not continue to vest, shall be cancelled and terminated as of the date of such removal as a Director, Director and shall no longer be exercisable as to any Shares, whether or not previously vested, that have not been exercised in the interim.
Appears in 2 contracts
Samples: Director Stock Option Grant Notice and Option Agreement (PNK Entertainment, Inc.), Director Stock Option Grant Notice and Option Agreement (Pinnacle Entertainment Inc.)
