Termination of Continuous Status as a Participant. (i) In the event of termination of the Participant’s Continuous Status as a Participant for any reason other than Cause, the Participant shall have the right to exercise the Nonqualified Option at any time within 90 days following such termination to the extent the Participant was entitled to exercise such Nonqualified Option on the date of such termination of the Participant’s Continuous Status as a Participant. (ii) In the event of termination of the Participant’s Continuous Status as a Participant for Cause, all outstanding Shares subject to the Nonqualified Option shall be forfeited as of date of the determination by the Board or Committee that Cause to terminate the Participant exists.
Appears in 5 contracts
Samples: Nonqualified Option Agreement (Four Springs Capital Trust), Nonqualified Option Agreement (Four Springs Capital Trust), Nonqualified Option Agreement (Four Springs Capital Trust)
