Termination as a Subsidiary of the Company. In the event that Optionee is employed by a Subsidiary of the Company and the Company or its Subsidiaries cease to own greater than 50% of such Subsidiary, this Option shall terminate on the date the Company or its Subsidiaries cease to own greater than 50% of such Subsidiary unless the Board or the Committee determines otherwise.
Appears in 2 contracts
Samples: Stock Option Agreement (Aptera Motors Corp), Stock Option Agreement (GeoVax Labs, Inc.)
Termination as a Subsidiary of the Company. In the event that Optionee is employed by in the service of a Subsidiary of the Company and the Company or its Subsidiaries cease to own greater than 50% of such Subsidiary, this Option shall terminate on the date the Company or its Subsidiaries cease to own greater than 50% of such Subsidiary unless the Board or the Committee determines otherwise.
Appears in 2 contracts
Samples: Stock Option Agreement (Aptera Motors Corp), Stock Option Agreement (GeoVax Labs, Inc.)
Termination as a Subsidiary of the Company. In the event that Optionee is employed by a Subsidiary of the Company and the Company or its Subsidiaries cease to own greater than 5050.1% of such Subsidiary, this Option these Options shall terminate on the date the Company or its Subsidiaries cease to own greater than 5050.1% of such Subsidiary unless the Board or the Committee determines otherwise. 15.
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