Common use of Service on the Board Terminates Clause in Contracts

Service on the Board Terminates. (i) If the Optionee’s employment with the Company and all affiliates terminates for any reason other than death, disability or retirement (as defined below), and in connection therewith the Optionee’s service on the Board terminates, the Option shall expire on the date of such termination of employment, and no portion shall be exercisable after the date of such termination.

Appears in 3 contracts

Samples: Stock Option Agreement (Newell Rubbermaid Inc), Stock Option Agreement (Newell Rubbermaid Inc), Stock Option Agreement (Newell Rubbermaid Inc)

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Service on the Board Terminates. (i) i. If the Optionee’s 's employment with the Company and all affiliates terminates for any reason other than an involuntary termination by the Company (except for Good Cause or a violation of the Company's Code of Conduct and Ethics), Optionee's voluntary termination for Good Reason, Optionee's death, disability or retirement (as defined below), and in connection therewith the Optionee’s 's service on the Board terminates, the Option shall expire on the date of such termination of employment, and no portion shall be exercisable after the date of such termination.

Appears in 1 contract

Samples: 2010 Stock Plan Stock Option Agreement (Newell Rubbermaid Inc)

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Service on the Board Terminates. (i) If the Optionee’s 's employment with the Company and all affiliates terminates for any reason other than death, disability or retirement (as defined below), and in connection therewith the Optionee’s 's service on the Board terminates, the Option shall expire on the date of such termination of employment, and no portion shall be exercisable after the date of such termination.

Appears in 1 contract

Samples: Ceo Stock Option Agreement (Newell Rubbermaid Inc)

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