Termination of Directorship Sample Clauses

Termination of Directorship. To the extent the Option becomes exercisable, the Option shall remain exercisable until twelve (12) months following any subsequent termination of directorship with the Company or its subsidiaries for any reason whatsoever but in no event shall the Option be exercisable after the Expiration Date.

Termination of Directorship. Upon termination of the Grantee's membership on the Board of Directors of the Company for any reason other than for cause or death, the Option granted hereby shall terminate ninety (90) days following the date of termination of the Grantee's membership on the board or, if earlier, on the Expiration Date. If the Grantee exercises the Option after termination of the Grantee's service on the Board of Directors, the Grantee may exercise the Option only with respect to the shares that were otherwise exercisable on the date of termination on the Grantee's service on the Board. If the Grantee's membership on the Board of Directors is terminated for cause, the Option granted hereby shall expire upon such termination.

Termination of Directorship. If during his employment under this Agreement the Director shall cease to be a director of the Company (otherwise than by reason of his death, resignation or disqualification pursuant to the Articles of Association of the Company or by statute or court order) his employment shall continue as if it had been in the office of executive manager of the Company and the terms of this Agreement (other than those relating to the holding of office of director) shall continue in full force and effect and the Director shall have no claims against the Company in respect of such cesser.

Termination of Directorship. A. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, prior to two years from the ---- execution date of the Agreement, the Director's benefits shall be limited to his waived Director fees plus interest at the rate of 7 1/2 percent per annum compounded annually and shall be paid in a single sum as soon as practical following the termination of his Directorship. B. If the Director terminates his Directorship, for reasons other than death or the attainment of his 65th birthday, at the end of two years or ---- more from the execution date of this Agreement, he or his beneficiary, as applicable, shall be entitled upon the attainment of his 65th birthday, or ---- his prior death, to a percentage of the retirement benefits stated in Section 1 of this Agreement as determined by the following table: FULL NUMBER OF YEARS SERVED PERCENTAGE OF RETIREMENT AS DIRECTOR FROM DATE OF BENEFITS STATED IN SECTION EXECUTION OF THIS AGREEMENT 1 OF THIS AGREEMENT TO WHICH UNTIL TERMINATION OF DIRECTORSHIP THE DIRECTOR IS ENTITLED ----------------------------------- ---------------------------- 2 40% 3 60% 4 80% 5 100%

Termination of Directorship. Upon termination of the Grantee's membership on the Board of Directors of the Corporation for any reason (other than death), the option granted hereby shall terminate as of the date of termination of the Grantee's membership on the Board, but in no event later than the date of expiration of the option as provided above in this Section 2, provided that any unexpired portion of the option granted hereby which is otherwise exercisable on the date of such termination may be exercised by the Grantee at any time within three (3) months following the date of such termination, unless the Grantee dies during such three (3) month period, but in no event later than the date of expiration of this option as provided above in this Section 2. Such exercise otherwise shall be subject to the terms and conditions of the Plan and this Stock Option Agreement.

Termination of Directorship. If the Optionee ceases to serve as a Director of the Company, Optionee may exercise this Option, to the extent Optionee was entitled to exercise it at the date of Termination. The three-month exercise period restriction contained in the Plan shall not apply. If, however, Optionee’s directorship is terminated by the Company For Cause, this Option shall become void effective upon the act of Termination For Cause. For purposes of this Agreement, Termination For Cause includes: (1) the willful failure, neglect or refusal by the Optionee to perform his duties hereunder; (2) any willful, intentional or grossly negligent act by the Optionee having the effect of injuring, in a material way (whether financial or otherwise and as determined in good-faith by the President of the Company), the business or reputation of the Company or any of its affiliates, including but not limited to, any officer, director, executive or shareholder of the Company or any of its affiliates; (3) willful misconduct by the Optionee, including insubordination, in respect of the duties or obligations of the Optionee under this Agreement; (4) the Optionee’s indictment of any felony or a misdemeanor involving moral turpitude (including entry of a nolo contendere plea); (5) the determination by the Company, after a reasonable and good-faith investigation by the Company following a written allegation by another employee of the Company, that the Optionee engaged in some form of harassment protected by law (including, without limitation age, sex or race discrimination); or (6) any misrepresentation or embezzlement of the property of the Company or its affiliates (whether or not a misdemeanor or a felony).

Termination of Directorship. If the Optionee ceases to be a director of the Company, other than by reason of death at a time when the Optionee holds the Option, the Optionee may exercise such Option within the original term of the Option, as to all or any of the shares fully vested at the time.

Termination of Directorship. If the Optionee ceases to be a director of the Company or any Subsidiary for any reason other than because of death or disability, this option shall continue through its term as defined in Paragraph 3 hereof as to any shares that are exercisable pursuant to Paragraph 3 as of the termination date of such directorship and any unvested shares shall never become exercisable.

Termination of Directorship. If you cease to be a director of the Company for any reason other your death or Disability, any Restricted Units and Additional Restricted Units that have not vested as of the date of the termination of your directorship will immediately be forfeited, and your rights with respect to these Restricted Units and Additional Restricted Units will end.

Termination of Directorship. If Optionee shall cease to be a member of the Board of Directors of the Company for any reason, the Option shall terminate three months following such event.