Common use of Right to Terminate Option Clause in Contracts

Right to Terminate Option. The Optionee understands and agrees that the Company has granted this Option to the Optionee to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if the Optionee (a) engages in any activity prohibited by Section 7 of this Agreement, (b) breaches or violates any obligations under any Restrictive Agreement to which the Optionee is a party or (c) is convicted of a felony against the Company or any of its affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Vested Portion of the Option), or any unexercised portion thereof, which shall be of no further force and effect. For the sake of clarity, the foregoing rights of the Company in this Section 7.2 apply only to the outstanding portion of the Option, and shall not apply to any Shares acquired upon exercise of any portion of the Option.

Right to Terminate Option. The Optionee understands and agrees that the Company has granted this Option is granting to the Optionee the Option to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its affiliates Affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if if, while any portion of the Optionee Option is outstanding, (a) the Optionee engages in any activity prohibited by Section 7 Prohibited Disclosure or breaches or violates the Optionee’s obligations relating to the non-disclosure or non-use of this confidential or proprietary information under the Employment Agreement, or (b) the Optionee engages in any Prohibited Solicitation or breaches or violates any non-solicitation obligations under any Restrictive Agreement to which the Optionee is a party Employment Agreement, or (c) the Optionee engages in any Prohibited Transfer, or (d) the Optionee is convicted of a felony against the Company or any of its affiliatesAffiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Vested Exercisable Portion of the Option), or any unexercised portion thereof, which shall then be of no further force and effect. For the sake of clarity, the foregoing rights of the Company in this Section 7.2 apply only to the outstanding portion of the Option, and shall not apply to any Shares acquired upon exercise of any portion of the Option.

Right to Terminate Option. The Optionee understands and agrees that the Company has granted this Option to the Optionee to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if the Optionee (a) engages in any activity prohibited by Section 7 of this Agreement, (b) breaches or violates any obligations under any Restrictive Agreement to which the Optionee is a party or (c) is convicted of a felony against the Company or any of its affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Vested Portion of the Option), or any unexercised portion thereof, which shall be of no further force and effect. For the sake of clarity, the foregoing rights of the Company in this Section 7.2 7.5 apply only to the outstanding oustanding portion of the Option, and shall not apply to any Shares acquired upon exercise of any portion of the Option.

Right to Terminate Option. The Optionee understands and agrees that the Company has granted this Option to the Optionee to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if the Optionee (a) engages in any activity prohibited by Section 7 of this Agreement, (b) breaches or violates any obligations under any Restrictive Agreement to which the Optionee is a party or (c) is convicted of a felony against the Company or any of its affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Vested Portion of the Option), or any unexercised portion thereof, which shall be of no further force and effect. For the sake of clarity, the foregoing rights of the Company in this Section 7.2 7.4 apply only to the outstanding oustanding portion of the Option, and shall not apply to any Shares acquired upon exercise of any portion of the Option.