Termination of Employment, Etc. (a) Upon the occurrence of Grantee's ceasing for any reason to be employed by the Company (such occurrence being a "termination of the Grantee's employment"), the Option (i) to the extent not previously vested, shall terminate and become null and void immediately upon such termination of the Grantee's employment, and (ii) to the extent already vested, shall be exercisable for a period of up to sixty (60) days following the termination of Grantee's employment. As determined by the Committee, upon a termination of the Grantee's employment by reason of disability or death, the Option may be exercised, but only to the extent that the Option was outstanding and exercisable on such date of disability or death, up to a one-year period following the date of such termination of the Grantee's employment.
(b) In the event of the death of the Grantee, the Option may be exercised by the Grantee's legal representative, but only to the extent that the Option would otherwise have been exercisable by the Grantee.
(c) A transfer of the Grantee's employment between the Company and any subsidiary of the Company shall not be deemed to be a termination of the Grantee's employment.
Termination of Employment, Etc. So long as the Optionee shall continue to be an Employee, the Option shall not be affected by (a) any temporary leave of absence approved in writing by the Company or an Affiliate, or (b) any change of duties or position (including transfer to or from an Affiliate). If the Optionee ceases to be an Employee for any reason other than death or Disability, the Option may be exercised only to the extent of the purchase rights, if any, which, pursuant to Section 4 hereof, existed as of the date the Optionee ceases to be an Employee and which have not theretofore been exercised; provided, however, that the Committee may in its absolute discretion determine (but shall not be under any obligation to determine) that such purchase rights shall be deemed to include additional Shares which are subject to the Option. Except as provided in Section 6 below, upon an Optionee’s ceasing to be an Employee, such purchase rights shall in any event terminate upon the earlier of either (a) three (3) months after the date the Optionee ceased to be an Employee (one (1) year after the date the Optionee ceased to be an Employee if the Optionee dies or becomes Disabled within three (3) months after ceasing to be an Employee), or (b) the last day of the term of the Option. Notwithstanding the preceding provisions of this Section 5, unless the Committee shall otherwise determine, upon the commission by the Optionee of a material breach of his obligations under any agreement with the Company or any Affiliate, the Optionee’s right to purchase Shares pursuant to the exercise of the Option shall terminate.
Termination of Employment, Etc. Unless the Committee shall provide otherwise with respect to any Award, if the Participant’s employment or other association with the Company or its Affiliates ends for any reason other than by total disability or death, including because of the Participant’s employer ceasing to be an Affiliate, (a) any outstanding Option or Stock Appreciation Right of the Participant shall cease to be exercisable in any respect not later than 90 days following that event and, for the period it remains exercisable following that event, shall be exercisable only to the extent exercisable at the date of that event, and (b) any other outstanding Award of the Participant shall be forfeited or otherwise subject to return to or repurchase by the Company on the terms specified in the applicable Award Agreement. Military or sick leave or other personal leave approved by an authorized representative of the Company shall not be deemed a termination of employment or other association, provided that it does not exceed the longer of 90 days or the period during which the absent Participant’s reemployment rights, if any, are guaranteed by statute or by contract.
Termination of Employment, Etc. Upon termination of the Grantee's employment for any reason, including the breach by the Grantee of the Employment Agreement among the Grantee, the Company and Netgateway, a corporation organized under the laws of the State of Nevada and a wholly owned Subsidiary of the Company, dated as of January 1, 1999 (the "Employment Agreement"), any Shares not already vested in accordance with Section 3 hereof, shall be subject to immediate forfeiture in all respects and Grantee shall have no right or claim to any such unvested Shares.
Termination of Employment, Etc. If a Stockholder shall for any reason, including, without limitation, death, disability or involuntary removal with or without cause, cease to be employed in any capacity by, a consultant to or a director of the Company or any of its subsidiaries, the Company may within 120 days from the date upon which such relationships shall cease exercise its option under this Section 5 to purchase from such Stockholder all of his Unvested Shares. In the event a Stockholder ceases to be employed by reason of death or disability, 50% of any Unvested Shares on the date of termination shall become Vested Shares for purposes of this Section 5.
Termination of Employment, Etc. If the Optionee’s employment or other association with the Company and its Affiliates ends for any reason other than by total disability or death, including because of the Optionee’s employer ceasing to be an Affiliate, the Option shall cease to be exercisable not later than 90 days following that event and, for the period it remains exercisable following that event, shall be exercisable only to the extent exercisable at the date of that event. Military or sick leave or other personal leave approved by an authorized representative of the Company shall not be deemed a termination of employment or other association, provided that it does not exceed the longer of 90 days or the period during which the absent Optionee’s reemployment rights, if any, are guaranteed by statute or by contract.
Termination of Employment, Etc. If an Optionee ceases to be an employee of the Company or its Subsidiaries, his or her option shall, unless otherwise provided for by an action of the Committee or in the option agreement between the Optionee and the Company, terminate on the date he or she ceases to be an employee and neither he nor she nor any other person shall have any rights after the date he or she ceases to be an employee to exercise all or any part of the option. An Optionee's employment shall not be deemed to have terminated while he or she is on a temporary military, sick or other bona fide leave of absence from the Company or a Subsidiary approved in writing by the Company, such as a leave of absence as is described in Section 1.421-7(h) of the Federal Income Tax Regulations or any lawful successor regulations thereto; provided, however, that the Committee may impose such terms and conditions with respect to such leaves as it deems proper as are consistent with such regulations. If the stock option is an Incentive Stock Option, no option agreement shall: (i) permit any Optionee to exercise any Incentive Stock Option more than three (3) months after the date the Optionee ceased to be an employee of the Company and all Subsidiaries (but not beyond the original term of the option) if the reason for the Optionee's cessation as an employee was other than his or her death or his or her Disability; or (ii) permit any Optionee to exercise any Incentive Stock Option more than one (1) year after the date the Optionee ceased to be an employee of the Company and all Subsidiaries (but not beyond the original term of the option) if the reason for the Optionee's cessation as an employee was the Optionee's Disability; or (iii) permit any person to exercise any Incentive Stock Option more than one (1) year after the date the Optionee ceased to be an employee of the Company and all Subsidiaries (but not beyond the original term of the option) if either (A) the reason for the Optionee's cessation as an employee was his or her death or (B) the Optionee died within three (3) months after ceasing to be an employee of the Company and all Subsidiaries. If any option is by the terms of the option agreement exercisable following the Optionee's death, then such option shall be exercisable by the Optionee's estate, or the person designated in the Optionee's Last Will and Testament, or the person to whom the option was transferred by the applicable laws of descent and distribution. A-6 14 (f)
Termination of Employment, Etc. An employee may not be made redundant due to anticipated or ongo- ing industrial action unless there is reasonable cause to believe that changed circumstances as a result of the conflict will make it impos- sible to provide employment for the employee when operations re- sume. If industrial action has continued for at least three months and the employees cannot be offered full-time employment, the working hours and salary may each be reduced by 10%. For each additional month, a reduction of a further 10% can be made until the salary has de- creased to 60% of the original amount. The reduction in salary may not result in a reduction of contributions to pensions or other insurances linked to the position. TERMINATION OF EMPLOYMENT
Termination of Employment, Etc. 5.1 Should the Participant cease to have Regular Employee Status during the Vesting Period, the Participant's participation and rights according to the Plan shall cease, and the Participant will have no right to obtain allocation in the Plan, except in the circumstances set forth in section 5.3 below, or if the Board makes a special exception pursuant to section 5.6 below.
5.2 The Participant's Regular Employee Status shall not be deemed to have ceased in case of sick leave, maternity/paternity leave, military service, vacation or other similar absence that the Participant is entitled to according to an employment contract or mandatory rules, or other absence approved in writing by the Board. A person who has terminated his/her employment, has been given notice of termination of employment or has signed an agreement with an employment end date during the Vesting Period shall thereafter not be considered as having Regular Employee Status, subject to section 5.3 below. For the avoidance of doubt, this is also applicable if the notice period runs during the entire Vesting Period.
5.3 Should the Participant cease to have Regular Employee Status during the Vesting Period and the cessation is due to retirement at contractual or statutory retirement age, or a result of death or disablement, the Participant will remain as a Participant in the Plan, but a reduced allocation of shares shall be calculated for the Participant, as set forth in section 5.4 and 5.5 below. The Board shall determine a new expiry date of the Vesting Period, which shall occur as soon as possible after the Participant ceased to have Regular Employee Status. The delivery of shares shall however, regardless of the new expiry date of the Vesting Period, not be accelerated unless the Board decides otherwise. The Board shall as soon as possible from the cessation of the Participant's Regular Employee Status inform the Participant of the new expiry date of the Vesting Period.
5.4 The reduction of the number of shares, to be allocated on the basis of Share Rights, shall occur based on the proportion of the Vesting Period which has run at the time when the Participant's Regular Employee Status ceases. This means that allocation shall be reduced by a factor equal to the number of days that remained of the Vesting Period at the time of the cessation of the Participant's Regular Employee Status, compared to the total Vesting Period, expressed in a certain number of days. For the purpose of the foregoing...
Termination of Employment, Etc. So long as the Optionee shall continue to be an employee of the Company or one of its subsidiaries, the Option shall not be affected by (a) any temporary leave of absence approved in writing by the Company or one of its subsidiaries, or (b) any change of duties or position (including transfer to or from a subsidiary). If the Optionee ceases to be an employee of the Company or one of its subsidiaries for any reason other than death or Normal Retirement (as defined below), the Option may be exercised only to the extent of the purchase rights, if any, which had accrued as of the date of such cessation pursuant to Section 4 hereof and which have not theretofore been exercised; provided, however, that upon written request to the Committee it may in its absolute discretion determine (but shall not be under any obligation to determine) that such accrued purchase rights shall be deemed to include additional Shares covered by the Option. Upon any such cessation of employment by reason of discharge, such accrued purchase rights shall in any event terminate upon the earlier of the date thirty (30) days from the date of such cessation of employment or the last day of the term of the Option. Upon any such cessation of employment by reason of a voluntary quit, such accrued purchase rights shall terminate on the date of such cessation of
