Termination for Reasons Other Than Death, Disability or Retirement. In the event that the Optionee's employment or other service with the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Optionee is in the employ or service of a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Optionee continues in the employ or service of the Company or another Subsidiary), all rights of the Optionee under the Plan and this Agreement will immediately terminate without notice of any kind, and this Option will no longer be exercisable; provided, however, that if such termination is due to any reason other than termination by the Company or any Subsidiary for "cause" (as defined in the Plan), this Option, to the extent that it is currently exercisable by the Optionee as of the time of such termination, will remain exercisable for a period of three months after such termination (but in no event after the Time of Termination).
Appears in 3 contracts
Samples: Incentive Stock Option Agreement (LSC Inc), Non Statutory Stock Option Agreement (LSC Inc), Performance Based Stock Option Agreement (Select Comfort Corp)
Termination for Reasons Other Than Death, Disability or Retirement. In the event that the Optionee's ’s employment or other service relationship with the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Optionee is in the employ of or service of perform services to a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Optionee continues in the employ of or service of performs services to the Company or another Subsidiary), all rights of the Optionee under the Plan and this Agreement will immediately terminate without notice of any kind, and this Option will no longer be exercisable; provided, however, that if such termination is due to any reason other than termination by the Company or any Subsidiary for "“cause" ” (as defined in the Plan), this Option, Option will remain exercisable to the extent that it is currently exercisable by the Optionee as of the time of such termination, will remain exercisable termination for a period of three months after such termination (but in no event after the Time of Termination).
Appears in 2 contracts
Samples: Form of Non Statutory Stock Option Agreement (Mocon Inc), Form of Non Statutory Stock Option Agreement (Northern Technologies International Corp)
Termination for Reasons Other Than Death, Disability or Retirement. In the event that the Optionee's ’s employment or other service relationship with the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Optionee is in the employ of or service of perform services to a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Optionee continues in the employ of or service of performs services to the Company or another Subsidiary), all rights of the Optionee under the Plan and this Agreement will immediately terminate without notice of any kind, and this the Option will no longer be exercisable; provided, however, that if such termination is due to any reason other than termination by the Company or any Subsidiary for "cause" Cause (as defined in the Plan), this Option, the Option will remain exercisable to the extent that it is currently exercisable by the Optionee as of the time of such termination, will remain exercisable termination for a period of three (3) months after such termination (but in no event after the Time of Termination).
Appears in 2 contracts
Samples: Form of Non Statutory Stock Option Agreement (Northern Technologies International Corp), Form of Non Statutory Stock Option Agreement (Northern Technologies International Corp)
Termination for Reasons Other Than Death, Disability or Retirement. In the event that the Optionee's ’s employment or other service with the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Optionee is in the employ of or service of performs services to a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Optionee continues in the employ of or service of performs services to the Company or another Subsidiary), all rights of the Optionee under the Plan and this Agreement will immediately terminate without notice of any kind, and this Option will no longer be exercisable; provided, however, that if such termination is due to any reason other than termination by the Company or any Subsidiary for "cause" (as defined in the Plan), this Option, Option will remain exercisable to the extent that it is currently exercisable by the Optionee as of the time of such termination, will remain exercisable termination for a period of three months after such termination (but in no event after the Time of Termination).
Appears in 1 contract
Samples: Form of Non Statutory Stock Option Agreement (Ani Pharmaceuticals Inc)
Termination for Reasons Other Than Death, Disability or Retirement. In the event that the Optionee's employment or other service with the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Optionee is in the employ or service of a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Optionee continues in the employ or service of the Company or another Subsidiary), all rights of the Optionee under the Plan and this Agreement will immediately terminate without notice of any kind, and this Option will no longer be exercisable; provided, however, that if such termination is due to any reason other than termination by the Company or any Subsidiary for "cause" (as defined in the Plan), this Option, Option will remain exercisable to the extent that it is currently exercisable by the Optionee as of the time of such termination, will remain exercisable termination for a period of three months after such termination (but in no event after the Time of Termination). Options not exercisable as of such termination will be forfeited and terminated.
Appears in 1 contract
Samples: Non Statutory Stock Option Agreement (Synovis Life Technologies Inc)
Termination for Reasons Other Than Death, Disability or Retirement. In the event that the Optionee's employment or other service with the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Optionee is in the employ or service of a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Optionee continues in the employ or service of the Company or another Subsidiary), all rights of the Optionee under the Plan and this Agreement will immediately terminate without notice of any kind, and this Option will no longer be exercisable; provided, however, that if such termination is due to any reason other than termination by the Company or any Subsidiary for "cause," (as defined in the Plan), this Option, all outstanding Options then held by such Participant will remain exercisable to the extent that it is currently exercisable by the Optionee as of the time of such termination, will remain exercisable termination for a period of three months after such termination (but in no event after the Time expiration date of Terminationany such Option).
Appears in 1 contract
Samples: Non Statutory Stock Option Agreement (Tech Squared Inc)
Termination for Reasons Other Than Death, Disability or Retirement. In the event that the Optionee's employment or other service with the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Optionee is in the employ or service of a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Optionee continues in the employ or service of the Company or another Subsidiary), all rights of the Optionee under the Plan and this Agreement will immediately terminate without notice of any kind, and this Option will no longer be exercisable; provided, however, that if such termination is due to any reason other than termination by the Company or any Subsidiary for "cause" (as defined in the Plan), this Option, to the extent that it is currently exercisable by the Optionee as of the time of such termination, will remain exercisable for a period of three months after such termination (but in no event after the Time of Termination).. 3.3
Appears in 1 contract
Samples: Incentive Stock Option Agreement (Select Comfort Corp)
Termination for Reasons Other Than Death, Disability or Retirement. In the event that the Optionee's ’s employment or other service relationship with the Company and all Subsidiaries is terminated for any reason other than death, Disability or Retirement, or the Optionee is in the employ of or service of perform services to a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Optionee continues in the employ of or service of performs services to the Company or another Subsidiary), all rights of the Optionee under the Plan and this Agreement will immediately terminate without notice of any kind, and this Option will no longer be exercisable; provided, however, that if such termination is due to any reason other than termination by the Company or any Subsidiary for "cause" Cause (as defined in the Plan), this Option, Option will remain exercisable to the extent that it is currently exercisable by the Optionee as of the time of such termination, will remain exercisable termination for a period of three months after such termination (but in no event after the Time of Termination).
Appears in 1 contract
Samples: Non Statutory Stock Option Agreement (Northern Technologies International Corp)