Stock Option Term. The term of the Stock Option shall be until the tenth anniversary of the Grant Date, after which time it shall expire (the “Expiration Date”), subject to earlier termination in the event of the Participant’s Termination as specified in the Plan and this Agreement. Notwithstanding anything herein to the contrary, upon the Expiration Date, the Stock Option (whether vested or not) shall be immediately forfeited, canceled and terminated for no consideration and no longer shall be exercisable. The Stock Option is subject to termination prior to the Expiration Date to the extent provided in the Plan or this Agreement.
Stock Option Term. Unless an earlier date is provided herein, the Option shall expire on the fifth anniversary of the Grant Date.
Stock Option Term. This STOCK OPTION shall in no event be exercisable after the expiration of ten (10) years from the date of this AGREEMENT.
Stock Option Term. Any and all agreements heretofore entered into between the Executive and the Company in evidence of options exercisable with respect to shares of Common Stock granted pursuant to the Plan shall be appropriately amended so that: (x) the definition of "Cause" herein shall be substituted for the definition of "cause" therein; and (y) the options granted thereunder shall terminate on the earliest of (1) the last day of the Exercise Period (as defined in such option), (2) two years after the Executive ceases to be an employee, or (3) upon termination of the Executive's employment for Cause by action of his employer or by the Executive at such time as the Company shall have grounds to terminate the Executive's employment for Cause. The Executive and the Company further agree that any subsequent grant of stock options by the Company under the Plan (which shall be subject to action by the Board, in its sole discretion) shall terminate on the earliest of (1) the last day of the Exercise Period (as defined in such option), (2) two years after the Executive ceases to be an employee, or (3) upon termination of the Executive's employment for Cause by action of his employer or by the Executive at such time as the Company shall have grounds to terminate the Executive's employment for Cause.
Stock Option Term. The term of the Stock Option shall be until the [__________] anniversary of the Grant Date, after which time it shall expire (the “Expiration Date”) [, subject to [if applicable, insert any relevant early termination provisions]] or the Participant’s Termination as specified in the Plan and this Agreement. Notwithstanding anything herein to the contrary, upon the Expiration Date, the Stock Option (whether vested or not) shall be immediately forfeited, canceled and terminated for no consideration and no longer shall be exercisable. The Stock Option is subject to termination prior to the Expiration Date to the extent provided in the Plan or this Agreement.
Stock Option Term. The term of the Stock Option shall commence on the date hereof and continue until August 15, 2013.
Stock Option Term. (a) Subject to Section 10 of the Plan, the Stock Option shall expire on the earliest to occur of:
i. the first anniversary of the termination of the Participant's membership on the Company's Board by reason of death, Disability or Retirement;
ii. the removal of the participant from the Company's Board for Cause;
iii. the expiration of three years after the termination of the Participant's membership on the Company's Board for any reason other than death, Disability, Retirement or a termination by the Company for Cause, other than in the event that the Participant has served as a member of the Company's board for less than three consecutive years, in which case on the expiration of one year after such termination; and
iv. the tenth anniversary of the Grant Date.
b. Notwithstanding clauses (i) or (iii) of Section 5(a) of this Agreement, in the event of the termination of the Participant's membership on the Company's Board but before the scheduled expiration date of the Stock Option (as set forth in the above clauses (i) and (iii), as applicable), the Stock Option shall expire on the earlier of (1) the first anniversary of the date of the Participant's death and (2) the tenth anniversary of the Grant Date.
Stock Option Term. A new Clause (w) is hereby inserted immediately ----------------- prior to Clauses (x) and (y) in Section 2(e) of the Agreement to read as follows:
