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Termination of Board Membership Sample Clauses

Termination of Board Membership. Except as provided below, if your Board membership terminates prior to the Vesting Date, this Award shall terminate and all Restricted Stock Units awarded hereunder shall be forfeited and canceled.
Termination of Board Membership. The termination of Optionee's membership from the Board for any reason shall have no effect on the exercisability of the Options which shall remain exercisable until the expiration of the Options' term.
Termination of Board Membership. Any portion of this grant which has ------------------------------- not vested shall lapse immediately if Optionee ceases to be a member of the Board of Directors of the Company, and all rights and privileges contained herein shall become null and void and of no further force or effect. Any unexercised, but vested portion of this grant shall lapse 90 days after Optionee ceases to be a member of the Board of Directors of the Company, and all rights and privileges contained herein shall become null and void and of no further force or effect.
Termination of Board Membership. Except for a termination of service described in Section 2.3 hereof, if the Participant ceases to serve as a member of the Board for any other reason prior to the Vesting Date, all unvested RSUs granted hereunder shall immediately be forfeited.
Termination of Board Membership. If Optionee's membership on the Board is terminated for any reason other than his or her death, this Option may be exercised by Optionee at any time prior to the end of the calendar year containing the Date of Grant, or within twelve (12) months after the termination of Board membership, whichever is longer (but in no event after the expiration of ten (10) years from the Date of Grant) with respect to all or any part of the number of shares remaining subject to the Option. At the end of such period, this Option shall expire. If Optionee's membership on the Board is terminated by reason of his or her death, this Option may be exercised by his or her estate or the person or persons who acquire the right to exercise this Option by bequest or inheritance at any time within one (1) year after the date of death to the extent Optionee was entitled to exercise the Option at the time of his or her death (but in no event after the expiration of a period of ten (10) years from the Date of Grant) with respect to all or any part of the number of shares remaining subject to the Option. At the end of such period, this Option shall expire.
Termination of Board Membership. If the Award Recipient ceases to serve as a Director of the Company for any reason prior to the vesting of the RSUs (except in connection with a Change of Control in accordance with Section 2.3 hereof), all unvested RSUs granted hereunder shall immediately be forfeited.
Termination of Board Membership. An Option shall be forfeited as of the date that the Participant ceases to be a Director except to the extent that the Option is then exercisable or becomes exercisable as of that date. An Option that is exercisable or that becomes exercisable when a Participant ceases to be a Director may be exercised (by the Participant or his estate or beneficiary following his death) until the date that is ten years from the Option's Date of Grant.
Termination of Board Membership. 9.1 Termination by Death or by Reason of Disability. Unless otherwise determined by the Company in its sole discretion, if the Optionee's membership on the Board terminates due to death or Disability, the Option may thereafter be exercised, to the extent exercisable at the time of such termination (including by the legal representative of the estate or by the legatee of the Optionee under the will of the Optionee, to the extent applicable), for a period of 180 days after the date of such termination or until the expiration of the term of the Option as provided under Section 1 of this Agreement, whichever period is shorter.
Termination of Board Membership. Your termination of employment for any reason (including resignation) shall be deemed to be the termination of your membership on the Board as of the same effective date.
Termination of Board Membership. Should the Optionee's service as a Board member cease while this option remains outstanding, then the option term specified in Paragraph 2 shall terminate (and this option shall cease to remain outstanding) prior to the Expiration Date in accordance with the following provisions: (i) Should Optionee cease to be a Board member for any reason other than death while holding this option, then the period for exercising this option shall be reduced to a six (6)-month period commencing with the date of such cessation of Board membership, but in no event shall this option be exercisable at any time after the Expiration Date. During such limited period of exercisability, this option may not be exercised in the aggregate for more than the number of Option Shares (if any) for which it is exercisable on the date the Optionee ceased service as a Board member. Upon the expiration of such six (6)-month period or (if earlier) upon the specified Expiration Date of the option term, the option shall terminate and cease to be exercisable. (ii) Should Optionee die while serving as a Board member or during the six (6) months following his or her cessation of Board service, then the personal representative of the Optionee's estate or the person or persons to whom the option is transferred pursuant to the Optionee's will or in accordance with the laws of descent and distribution shall have the right to exercise this option for any or all of the Option Shares for which the option is at the time exercisable. Such right of exercise shall terminate, and this option shall accordingly cease to be outstanding, upon the earlier of (A) the expiration of the twelve (12)-month period measured from the date of Optionee's death or (B) the specified Expiration Date of the option term.