Termination of Director Status a) Your status as a Director may be terminated at any time by the vote of the stockholders of the Company (including any failure to elect you for an ensuing term at any annual meeting of stockholders) in accordance with the certificate of incorporation and bylaws of the Company. Any such termination will not affect your rights under options that have become vested, subject to the post-service exercisability period.
b) You acknowledge and agree that if the stockholders of the Company terminate your status as a Director (including any failure to elect you for an ensuing term at any annual meeting of stockholders), you will have no claim of any kind against the Company by reason of the termination.
c) You are at liberty to resign from the Board at any time by notice in writing to the Company.
Termination of Director Status. Sections 6.2 and 6.4 of the Plan shall control.
Termination of Director Status. Sections 6.2 and 6.4 of the Plan shall control; provided, however, that for purposes of Section 6.2(a) of the Plan, in lieu of ninety (90) days after termination of Director Status, the Optionee shall have twenty-four months (24) months after such termination to exercise the Option.
Termination of Director Status. If the Optionee ceases to be a ------------------------------ director of the Company for any reason other than the Optionee's death or disability within the meaning of section 422(c) of the Code, the Option, to the extent unexercised and exercisable by the Optionee on the date on which the Optionee ceased to be a director, may be exercised by the Optionee at any time prior to the expiration of three (3) months from the date the Optionee's service as a director of the Company terminated, but in any event no later than the Option Term Date. If the Optionee ceases to be a director of the Company because of the death or disability of the Optionee within the meaning of section 422(c) of the Code, the Option, to the extent unexercised and exercisable by the Optionee on the date of such death or disability, may be exercised by the Optionee (or the Optionee's legal representative) at any time prior to the expiration of twelve (12) months from the date the Optionee's service as a director of the Company terminated, but in any event no later than the Option Term Date. The Optionee's service as a director of the Company shall be deemed to have terminated on account of death if the Optionee dies within three (3) months after the Optionee's termination of service as a director of the Company.
Termination of Director Status. (a) Should the Grantee cease to be a member of the Board (other than by reason of retirement (as defined below) death, permanent disability (as defined below), termination for cause (as defined below) or Involuntary Termination within thirty-six (36) months of a Change of Control (as provided in Paragraph 8)), this option will, solely to the extent that it is exercisable immediately prior to such cessation of membership on the Board, remain exercisable during the three-month period following the date of such cessation of such membership on the Board; provided, however, in no event will this option be exercisable at any time after the Expiration Date.
(b) Should the Grantee cease to be a member of the Board on account of retirement, this option will, solely to the extent that it is exercisable immediately prior to such cessation of membership on the Board, remain exercisable until the Expiration Date. The Grantee will be deemed to cease to be a member of the Board on account of retirement if the Grantee resigns from the Board on or after serving at least 3 years as a member of the Board.
(c) Should the Grantee become permanently disabled and cease by reason thereof to be a member of the Board, this option will, solely to the extent that it is exercisable immediately prior to such cessation of membership on the Board, remain exercisable during the one-year period following the date of such cessation of membership on the Board; provided, however, in no event will this option be exercisable at any time after the Expiration Date. The Grantee will be deemed to be permanently disabled if the Grantee is, by reason of any medically determinable physical or mental impairment expected to result in death or to be of continuous duration of not less than one year, unable to engage in any substantial gainful employment.
(d) Should the Grantee die while a member of the Board (or during the three-month period referred to in subparagraph (a) or during the one-year period referred to in subparagraph (c)), this option, to the extent it is at the time outstanding under the Plan, shall remain exercisable until the Expiration Date or earlier surrender of this option. The executors or administrators of the Grantee’s estate or the Grantee’s heirs or legatees (as the case may be) will have the right to exercise this option, during the remainder of the option term.
(e) Should the Grantee’s membership on the Board be terminated for cause (including, but not limited to, any act of dis...
Termination of Director Status. If you cease to be a Director with Spartan, you may exercise the Option as set forth below; provided, however, that in no event may you exercise the Option beyond the Expiration Date set forth above:
Termination of Director Status. (a) Should the Grantee’s service as a member of the Board terminate for any reason (other than Disability, Death or cause), this Option may be exercised (to the extent such Option was exercisable at the time of termination) for a period of 90 days from the date of such termination or until the Expiration Date, whichever period is shorter.
Termination of Director Status. If Optionee ceases to serve as a Director, ------------------------------- Optionee may, but only within thirty (30) days after the date of such cessation, exercise this Option to the extent that Optionee was entitled to exercise it at the date of such cessation of service. To the extent that Optionee was not entitled to exercise this Option at the date of such cessation of service or if Optionee does not exercise this Option within the time specified herein, this Option shall terminate.
Termination of Director Status. In the event the Optionee ceases to serve as a member of the Board for any reason,
(i) if such Optionee has completed three (3) Years of Board Service or less as of the date of such termination, any portion of the Option (x) which is then outstanding, vested and exercisable on the date of termination may be exercised by the Optionee or, if applicable, his or her beneficiary for a period of 90 days following the date of the Optionee's termination of service, but in no event later than the expiration date of the term of the Option Period (as defined in Section 2(c)), and (y) which is not vested and exercisable on the date of termination, shall be canceled, in full, on the date of such termination; or
(ii) if such Optionee has completed more than three (3) Years of Board Service as of the date of such termination, any portion of the Option (x) which is then outstanding, vested and exercisable on the date of termination may be exercised by the Optionee or, if applicable, his or her beneficiary until the third anniversary of the date of the Optionee's termination of service, but in no event later than the expiration date of the term of the Option, and (y) which is then outstanding but not vested and exercisable on the date of termination, shall thereafter vest and become exercisable by the Optionee or, if applicable, his or her beneficiary at the time or times indicated in Section 2(a) for a period of three (3) years following the Optionee’s termination of service and, once exercisable, will remain exercisable for a period of three (3) years following the date of the Optionee's termination of service, but in no event later than the expiration date of the term of the Option Period.
Termination of Director Status. If the Participant ceases to be a director of the Company for any reason, then, except as provided in paragraph (c) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided that this option shall be exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation.
