Termination of Employment for Cause or Voluntary Resignation. In the event the Employee's employment with Universal shall terminate for Cause (as defined in the Plan), or the Employee voluntarily resigns his or her employment with Universal, the Option, whether or not exercisable as of the date of termination of employment, shall terminate in its entirety on the date of termination.
Appears in 6 contracts
Samples: Non Qualified Stock Option Agreement (Universal Compression Holdings Inc), Stock Option Agreement (Universal Compression Holdings Inc), Incentive Stock Option Agreement (Universal Compression Holdings Inc)
Termination of Employment for Cause or Voluntary Resignation. In the event the Employee's ’s employment with Universal shall terminate for Cause (as defined in the Plan), or the Employee voluntarily resigns his or her employment with Universal, the Option, whether or not exercisable as of the date of termination of employment, shall terminate in its entirety on the date of termination.
Appears in 2 contracts
Samples: Incentive Stock Option Agreement (Universal Compression Holdings Inc), Non Qualified Stock Option Agreement (Universal Compression Holdings Inc)
Termination of Employment for Cause or Voluntary Resignation. In the event the Employee's employment with Universal shall terminate for Cause (as defined in the Plan), or the Employee voluntarily resigns his or her employment with Universal, the Option, whether or not exercisable as of the date of termination of employment, shall terminate in its entirety on the date of termination.
2. Section 4 of the Prior Option Agreement is amended to provide as follows:
Appears in 1 contract
Samples: Stock Option Agreement (Universal Compression Holdings Inc)
