Common use of Termination of Employment - General Clause in Contracts

Termination of Employment - General. If you cease to be Employed for any reason, then, except as otherwise provided in this Section 3 (Termination of Employment; Disability), (i) any portion of the Option that has not vested as of the Date of Termination shall immediately be forfeited for no consideration as of the Date of Termination; and (ii) any portion of the Option that has vested as of the Date of Termination and that has not been exercised shall terminate in full on the earlier of (A) the date that is three months after the Date of Termination and (B) the Expiration Date.

Appears in 2 contracts

Samples: Nonqualified Stock Option Award Agreement (Kenvue Inc.), Kenvue Inc.

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Termination of Employment - General. If you cease to be Employed for any reason, then, except as otherwise provided in this Section 3 (Termination of Employment; Disability)3, (i) any portion of if the Option that has not vested as of the your Date of Termination Termination, the Option shall immediately be forfeited for no consideration as of the on your Date of Termination; and or (ii) if the Option has vested as of your Date of Termination, any unexercised portion of the Option that has vested as of the Date of Termination and that has not been exercised shall terminate in full on the earlier of (A) the date that is three (3) months after the your Date of Termination and or (B) the Expiration Date.

Appears in 1 contract

Samples: Nonqualified Stock Option Award Agreement (Johnson & Johnson)

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Termination of Employment - General. If you cease to be Employed for any reason, then, except as otherwise provided in this Section 3 (Termination of Employment; Disability), (i) any portion of the Option that has not vested as of the your Date of Termination shall immediately be forfeited for no consideration as of the on your Date of Termination; and (ii) any portion of the Option that has vested as of the your Date of Termination and that has not been exercised shall terminate in full on the earlier of (A) the date that is three (3) months after the your Date of Termination and or (B) the Expiration Date.

Appears in 1 contract

Samples: Nonqualified Stock Option Award Agreement (Johnson & Johnson)

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