Stock Option Exercisability. With respect to all Option Agreements, Section 5(i) of each Option Agreement shall be amended and restated to read as follows: “(i) Should Optionee cease to remain in Service for any reason (other than death, Permanent Disability or Misconduct) while this option is outstanding, then this option shall remain exercisable until the earlier of (i) the expiration of the 12-month period measured from the date of such cessation of Service or (ii) the Expiration Date.”
Stock Option Exercisability. Notwithstanding the terms of the Stock Option Agreements, Xx. Xxxx shall have the right to exercise his vested stock options until December 14, 2003 (it being understood that any such stock options that currently qualify as incentive stock options under applicable tax law shall convert to non-qualified stock options for tax purposes if the options are not exercised within 3 months after the Resignation Date), provided that in the event that Xx. Xxxx materially breaches any provision of this Agreement, the exercise period shall expire 30 days after the Company provides written notice to Xx. Xxxx of such breach.
Stock Option Exercisability. If the Employee's employment terminates by reason of Involuntary Termination within twelve (12) months following a Change of Control, the Employee shall be automatically credited with an additional twelve (12) months of continuous service for purposes of determining the exercisability and vesting with respect to any stock option granted to the Employee under the Company's stock option plans, which shall be in addition to any credit under Section 2(b) below.
Stock Option Exercisability. The Company acknowledges that, notwithstanding the terms set forth in any stock option agreements Executive may have entered into with the Company, all outstanding stock options that are vested as of the Separation Date shall remain exercisable until the earlier of January 26, 2013 or the latest stated expiration date contained in the applicable option agreement. The payments described in this Section 4 are referred to collectively as the “Severance.” The parties hereto acknowledge and agree that the Severance provided for under this Agreement is different from any severance to which you may otherwise be entitled as described in your Employment Agreement, and that this Agreement supersedes and replaces the severance provisions of such Employment Agreement. The Severance payments provided hereunder shall be subject to standard payroll deductions and applicable tax withholding requirements. You acknowledge and agree that the payments and benefits described herein represent the sole amounts to which you are entitled in connection with your service to the Company and its affiliates through the Separation Date in any and all capacities and/or the termination thereof.
Stock Option Exercisability. Notwithstanding any provision of the Company’s 2002 Equity Compensation Plan (or any comparable equity award plan of the Company) or any applicable award agreement thereunder to the contrary, the Senior Officer may exercise any of the Senior Officer’s stock options that are vested as of the date of the Senior Officer’s Qualifying Termination at any time during the Benefit Continuation Period (but not exceeding the original expiration date of the options).
Stock Option Exercisability. All options to purchase Stock that are held by the Executive and that are not exercisable as of the date of the Executive’s termination shall become immediately exercisable. Further, all such options, together with any options to purchase such stock that were exercisable as of such termination date (collectively, “Options”), shall remain exercisable by the Executive (or the Executive’s estate in the case of the Executive’s death, or his legal representative in the case of his incapacity or disability) for a period of two (2) years from such termination, but in no event shall any Options be exercisable after expiration of the applicable term thereof. The foregoing shall apply to all Options presently held by the Executive and any other options to purchase Stock that are granted during the Term subsequent to the date hereof, including, without limitation, the options granted pursuant to Section 4 hereof. Furthermore, the foregoing shall apply notwithstanding any contrary provision in any prior agreement between the Company and the Executive, including, but not limited to any applicable stock option agreement; and to extent necessary, this Section 6.4 shall be construed as an amendment to any such contrary provision. Attached hereto as Exhibit D to this Agreement is a description of all Options held by the Executive as of September 28, 2003.”
