Termination by Retirement. If the Optionee’s service as a director of the Company terminates by reason of Retirement, this Option may thereafter be exercised by the Optionee, to the extent the Option was exercisable at the time of such termination for a period of three (3) years from the date of such termination of service as a director or until the expiration of the Term of the Option, whichever period is the shorter.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Community First Inc), Non Qualified Stock Option Agreement (Community First Inc)
Termination by Retirement. If the Optionee’s service as a director of the Company terminates by reason of Retirement, this Option may thereafter be exercised by the Optionee, to the extent the Option was exercisable at the time of such termination (after giving effect to any acceleration of vesting provided for in Section 2 above) for a period of three (3) years from the date of such termination of service as a director or until the expiration of the Term of the Option, whichever period is the shorter.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Wilson Bank Holding Co)
Termination by Retirement. If the Optionee’s employment by the Company or service as a director of the Company (whichever occurs later) terminates by reason of Retirement, this Option may thereafter be exercised by the Optionee, to the extent the Option was exercisable at the time of such termination (after giving effect to any acceleration of vesting provided for in Section 2 above) for a period of three (3) years from the date of such termination of service as a director or until the expiration of the Term of the Option, whichever period is the shorter.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Wilson Bank Holding Co)
