Termination of Employment or Death of Optionee. The Option, as to any Shares not theretofore purchased, shall terminate on the earlier of the Expiration Date or 30 days after the Optionee is no longer employed by the Company or a Subsidiary (as defined in the Plan); provided, however, that if such termination of employment results from (i) the Optionee’s death or disability, the Option may be exercised as to vested Shares as of the date of such termination of employment within three (3) months thereafter (but in no event later than the Expiration Date) by the Optionee’s executors, administrators, personal representatives, or any person or persons to whom the Option may be transferred by will or by the laws of descent and distribution, but only to the extent that the Optionee was entitled to exercise the Option at the time of such termination of Optionee’s employment or (ii) the Optionee’s termination for Cause (as defined below), the Option (as to all vested and unvested Shares) shall immediately terminate and be of no further force or effect. Following the termination of the Optionee’s employment and prior to the termination of the Option, unless otherwise determined by the Administrator, the Option may only be exercised as to vested Shares as of the date of the termination of the Optionee’s employment. The Option does not confer upon the Optionee any right with respect to continuation of employment by the Company, nor shall it interfere with any right of the Company to terminate such employment at any time or any employee’s “employee-at-will” status.
Termination of Employment or Death of Optionee. Except as may be otherwise expressly provided herein with respect to an Option that is a Non-Incentive Stock Option, all Options shall terminate on the earlier of the date of the expiration of the Option or one day less than three months after the date of severance, upon severance of the employment relationship between the Company and the optionee, whether with or without cause, for any reason other than the death, Disability or, in the case of Non-Incentive Stock Options only, Retirement of the optionee, during which period the optionee shall be entitled to exercise the Option in respect of the number of shares that the optionee would have been entitled to purchase had the optionee exercised the Option on the date of such severance of employment. Whether authorized leave of absence, or absence on military or government service, shall constitute severance of the employment relationship between the Company and the optionee shall be determined by the Committee at the time thereof. In the event of severance because of the Disability of the holder of any Incentive Stock Option while in the employ of the Company and before the date of expiration of such Incentive Stock Option, such Incentive Stock Option shall terminate on the earlier of such date of expiration or one year following the date of such severance because of Disability, during which period the optionee shall be entitled to exercise the Incentive Stock Option in respect to the number of shares that the optionee would have been entitled to purchase had the optionee exercised the Incentive Stock Option on the date of such severance because of Disability. In the event of the death of the holder of any Incentive Stock Option while in the employ of the Company and before the date of expiration of such Incentive Stock Option, such Incentive Stock Option shall terminate on the earlier of such date of expiration or one year following the date of death. After the death of the optionee, his executors, administrators or any person or persons to whom his Incentive Stock Option may be transferred by will or by the laws of descent and distribution, shall have the right, at any time prior to the termination of an Incentive Stock Option to exercise the Incentive Stock Option, in respect to the number of shares that the optionee would have been entitled to exercise if he had exercised the Incentive Stock Option on the date of his death while in employment. For purposes of Incentive Stock Options issued under this Pla...
Termination of Employment or Death of Optionee. Except as may be otherwise expressly provided herein, any portion of the option which is not exercisable on the date of Optionee’s termination from employment with the Company shall immediately terminate and any remaining portion of the option evidenced hereby shall terminate on the earlier of:
Termination of Employment or Death of Optionee. The Option granted to Optionee shall terminate on the earlier of the date of the expiration of the Option or upon severance of the employment relationship between the Company and Optionee for any reason, for or without cause. If Optionee shall die while in the employ of the Company and before the date of expiration of his Option, his Option shall terminate on the earlier of the date of expiration or one year following the date of death. After the death of Optionee, his executor, administrator or any person or persons to whom his Option may be transferred by will or by the laws of descent and distribution, shall have the right, at any time prior to its termination, to exercise his Option to the extent Optionee could have exercised it had he lived and remained in the employ of the Company.
Termination of Employment or Death of Optionee. Except as may be otherwise expressly provided in the terms and conditions of the option granted to an Optionee, options granted hereunder shall terminate on the earlier to occur of termination for cause or voluntary separation on the part of the Optionee without the consent of the Company or Subsidiary;
Termination of Employment or Death of Optionee. The Option granted to Optionee shall terminate on the earlier of the date of the expiration of the Option or upon severance of the employment relationship between the Company and Optionee under Section 5.01, 5.02 or 5.03 of the Employment Agreement dated November 27, 1996, between Kleix Xxxical Acquisition Co. and Optionee; provided, however, if Optionee shall die while in the employ of the Company and before the date of expiration of his Option, his Option shall terminate on the later of the date of expiration or one year following the date of death. After the death of Optionee, his executor, administrator or any person or persons to whom his Option may be transferred by will or by the laws of descent and distribution, shall have the right, at any time prior to its termination, to exercise his Option to the extent Optionee could have exercised it had he lived and remained in the employ of the Company.
Termination of Employment or Death of Optionee. 4 8. Adjustment in Number of Shares of Optioned Stock and Option Price 5
Termination of Employment or Death of Optionee. The Option granted to Optionee shall terminate on the earlier of the date of the expiration of the Option or upon severance of the employment relationship between the Company and Optionee for any reason, for or without cause, other than the termination of the Employment Agreement by the Company without Cause (as defined in the
Termination of Employment or Death of Optionee. The Option granted to Optionee shall terminate on the earlier of the date of the expiration of the Option or upon severance of the employment relationship between the Company and Optionee for any reason, for or without cause, other than the termination of the Employment Agreement by the Company without Cause (as defined in the Employment Agreement) pursuant to Section 5.04 of the Employment Agreement. If the Company terminates the Employment Agreement without Cause pursuant to Section 5.04 thereof, notwithstanding the provisions of Paragraph 3 hereinabove, Optionee shall immediately have the right, at any time prior to its expiration, to exercise his Option as to any and all of the 250,000 shares for which Optionee has not previously exercised his Option. If Optionee shall die while in the employ of the Company and before the date of expiration of his Option, his Option shall terminate on the earlier of the date of expiration or one year following the date of death. After the death of Optionee, his executor, administrator or any person or persons to whom his Option may be transferred by will or by the laws of descent and distribution, shall have the right, at any time prior to its termination, to exercise his Option to the extent Optionee could have exercised it at the time of his death.
Termination of Employment or Death of Optionee
