Common use of Termination for Cause or Breach of Noncompetition or Confidentiality Agreement Clause in Contracts

Termination for Cause or Breach of Noncompetition or Confidentiality Agreement. The vested and non-vested portions of the Option shall expire on 12:01 a.m. (CST) on the date of termination of employment/engagement or the date of the breach, as applicable and shall not be exercisable to any extent if Optionee’s employment/engagement is terminated for Cause or the Optionee breaches a noncompetition and/or confidentiality agreement between Optionee and the Company or any of its Affiliates at any time.

Appears in 4 contracts

Samples: Nonstatutory Stock Option Agreement (Superior Drilling Products, Inc.), Nonstatutory Stock Option Agreement (Superior Drilling Products, Inc.), Nonstatutory Stock Option Agreement (Superior Drilling Products, Inc.)

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Termination for Cause or Breach of Noncompetition or Confidentiality Agreement. The vested and non-vested portions of the Option shall expire on 12:01 a.m. (CST) on the date of termination of employment/engagement Participant’s employment for Cause or the date of the breachbreach of the non-competition and/or confidentiality agreement, as applicable and shall not be exercisable to any extent if Optionee’s employment/engagement employment is terminated for Cause or the Optionee breaches a noncompetition and/or confidentiality agreement between Optionee and the Company or any of its Affiliates at any time.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Victory Energy Corp)

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Termination for Cause or Breach of Noncompetition or Confidentiality Agreement. The vested and non-vested portions of the Option shall expire on 12:01 a.m. (CST) on the date of termination of employment/engagement or the date of the breach, as applicable and shall not be exercisable to any extent if Optionee’s employment/engagement is terminated for Cause or the Optionee breaches a noncompetition and/or confidentiality agreement between Optionee and the Company or any of its Affiliates at any time.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Superior Drilling Products, Inc.)

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