Common use of Termination for Other Reason Clause in Contracts

Termination for Other Reason. If prior to the exercise of the Option, the Optionee’s service as a Director shall be terminated for any reason other than as set forth in subsections (b) through (e) above, including as a result of the tendering of the Optionee’s resignation as a Director during his or her then current term of office, then the Option (subject to clause (g) below) held by the Optionee may be exercised at any time within one month after the Optionee’s termination of service as a Director, provided that, if such termination of the Optionee’s service as a director occurs during a Trading Blackout, such Option (subject to clause (g) below) may be exercised at any time starting from the Optionee’s termination date through the last day of the first month following the expiration date of such Trading Blackout period.

Appears in 5 contracts

Samples: Nonqualified Stock Option Agreement (Health Net Inc), Nonqualified Stock Option Agreement (Health Net Inc), Nonqualified Stock Option Agreement (Health Net Inc)

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