Termination of Employment or Death. (a) In the event of a termination of Optionee's employment or consulting services for any reason (other than a termination of an Optionee employee by his or her death or disability), (i) except as provided in clause (ii) of this sentence this Option shall terminate as of the day of notice of such termination by either party, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable on the date of termination may be exercised by Optionee at any time within three (3) months following the date of such termination, unless Optionee dies during such three (3) month period, but in no event later than the Expiration Date. If Optionee is an employee, whether military, government or other service by Optionee or other leave of absence granted to Optionee shall constitute such a termination shall be determined in each case by the Board at its discretion, and any determination by the Board shall be final and conclusive. If the Board determines that such absence does not constitute such a [OFFICERS/EMPLOYEES/CONSULTANTS] termination, however, Optionee may exercise his or her option only with the consent of the Board. (b) If Optionee is an employee, upon termination of Optionee's employment with the Company (including its subsidiaries) as result of a permanent disability (as defined by Section 22(e)(3) of the Code), (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable on the date of such termination, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable on the date of such termination may be exercised by Optionee at any time within six (6) months following the date of such termination, unless Optionee dies during such six (6) month period, but in no event later than the Expiration Date. (c) If Optionee is an employee, upon termination of his or her employment by the Company without Cause, if there is a written employment agreement between Optionee and the Company, this Option shall cease to vest in accordance with the Vesting Schedule regardless of any salary continuation specified by such employment agreement as a result of such termination. Upon termination of his or her employment with the Company, (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable as to unvested options on the date of termination, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable as of such termination date may be exercised by Optionee at any time within three (3) months following such termination date, unless Optionee dies during such three (3) month period such option may be exercised pursuant to subparagraph (d) below, but in no event later than the Expiration Date. If there is no written employment agreement between Optionee and the Company, upon termination of his or her employment by the Company without Cause any unexercised portion of this Option shall terminate in accordance with Section 3(a) above, but in no event later than the Expiration Date. (d) If Optionee dies, (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable on the date of death, and (ii) any unexercised portion of this Option, if otherwise exercisable at the date of death, may be exercised by his or her personal representatives, heirs, or legatees at any time prior to the expiration of one (1) year after the date of Optionee's death, but in no event later than the Expiration Date.
Appears in 4 contracts
Samples: Non Qualified Stock Option Agreement (Renal Care Group Inc), Non Qualified Stock Option Agreement (Renal Care Group Inc), Non Qualified Stock Option Agreement (Renal Care Group Inc)
Termination of Employment or Death. (a) In the event of a termination of Optionee's employment or consulting services for any reason (other than a termination of an Optionee employee by his or her death or disability), (i) except as provided in clause (ii) of this sentence this Option shall terminate as of the day of notice of such termination by either party, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable on the date of termination may be exercised by Optionee at any time within three (3) months following the date of such termination, unless Optionee dies during such three (3) month period, but in no event later than the Expiration Date. If Optionee is an employee, whether military, government or other service by Optionee or other leave of absence granted to Optionee shall constitute such a termination shall be determined in each case by the Board at its discretion, and any determination by the Board shall be final and conclusive. If the Board determines that such absence does not constitute such a [OFFICERS/EMPLOYEES/CONSULTANTS] termination, however, Optionee may exercise his or her option only with the consent of the Board.. [OFFICERS/EMPLOYEES/CONSULTANTS]
(b) If Optionee is an employee, upon termination of Optionee's employment with the Company (including its subsidiaries) as result of a permanent disability (as defined by Section 22(e)(3) of the Code), (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable on the date of such termination, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable on the date of such termination may be exercised by Optionee at any time within six (6) months following the date of such termination, unless Optionee dies during such six (6) month period, but in no event later than the Expiration Date.
(c) If Optionee is an employee, upon termination of his or her employment by the Company without Cause, if there is a written employment agreement between Optionee and the Company, this Option shall cease to vest in accordance with the Vesting Schedule regardless of any salary continuation specified by such employment agreement as a result of such termination. Upon termination of his or her employment with the Company, (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable as to unvested options on the date of termination, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable as of such termination date may be exercised by Optionee at any time within three (3) months following such termination date, unless Optionee dies during such three (3) month period such option may be exercised pursuant to subparagraph (d) below, but in no event later than the Expiration Date. If there is no written employment agreement between Optionee and the Company, upon termination of his or her employment by the Company without Cause any unexercised portion of this Option shall terminate in accordance with Section 3(a) above, but in no event later than the Expiration Date.
(d) If Optionee dies, (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable on the date of death, and (ii) any unexercised portion of this Option, if otherwise exercisable at the date of death, may be exercised by his or her personal representatives, heirs, or legatees at any time prior to the expiration of one (1) year after the date of Optionee's death, but in no event later than the Expiration Date.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Renal Care Group Inc)
Termination of Employment or Death. (a) In the event of a termination of Optionee's employment or consulting services for any reason (other than a termination of an Optionee employee by his or her death or disability), (i) except as provided in clause (ii) of this sentence this Option shall terminate as of the day of notice of such termination by either party, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable on the date of termination may be exercised by Optionee at any time within three (3) months following the date of such termination, unless Optionee dies during such three (3) month period, but in no event later than the Expiration Date. If Optionee is an employee, whether military, government or other service by Optionee or other leave of absence granted to Optionee shall constitute such a termination shall be determined in each case by the Board at its discretion, and any determination by the Board shall be final and conclusive. If the Board determines that such absence does not constitute such a [OFFICERS/EMPLOYEES/CONSULTANTS] termination, however, Optionee may exercise his or her option only with the consent of the Board.
(b) If Optionee is an employee, upon termination of Optionee's [OFFICERS/EMPLOYEES/CONSULTANTS] employment with the Company (including its subsidiaries) as result of a permanent disability (as defined by Section 22(e)(3) of the Code), (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable on the date of such termination, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable on the date of such termination may be exercised by Optionee at any time within six (6) months following the date of such termination, unless Optionee dies during such six (6) month period, but in no event later than the Expiration Date.
(c) If Optionee is an employee, upon termination of his or her employment by the Company without Cause, if there is a written employment agreement between Optionee and the Company, this Option shall cease to vest in accordance with the Vesting Schedule regardless of any salary continuation specified by such employment agreement as a result of such termination. Upon termination of his or her employment with the Company, (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable as to unvested options on the date of termination, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable as of such termination date may be exercised by Optionee at any time within three (3) months following such termination date, unless Optionee dies during such three (3) month period such option may be exercised pursuant to subparagraph (d) below, but in no event later than the Expiration Date. If there is no written employment agreement between Optionee and the Company, upon termination of his or her employment by the Company without Cause any unexercised portion of this Option shall terminate in accordance with Section 3(a) above, but in no event later than the Expiration Date.
(d) If Optionee dies, (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable on the date of death, and (ii) any unexercised portion of this Option, if otherwise exercisable at the date of death, may be exercised by his or her personal representatives, heirs, or legatees at any time prior to the expiration of one (1) year after the date of Optionee's death, but in no event later than the Expiration Date.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Renal Care Group Inc)
Termination of Employment or Death. (a) In the event of a Upon termination of OptioneeHolder's employment or consulting services with the Company for any reason (at any time, this Option shall expire and shall be immediately terminated, canceled and of no further effect as to any Option Shares that have not Vested as of the date of termination. Upon any termination of employment of the holder for any reason other than a termination of an Optionee employee by his or her for cause, death or disability), any such Option held at the date of such employment termination may, to the extent Vested, be exercised within ninety (i90) days after the date of such employment termination. Upon any termination of employment of the holder by reason of disability, except as otherwise provided in clause the particular Stock Option Agreement, any such Option held at the date of such employment termination may, to the extent Vested, be exercised within twelve (ii12) months after the date of such employment termination. If the holder of such an Option dies, except as otherwise provided in the particular Stock Option Agreement, any such Option held at the date of death may, to the extent Vested, be exercised by a legatee or legatees of the holder under the holder's last will, or by the holder's personal representatives or distributees, within twelve (12) months after the holder's death. This Section shall not extend the term of the Option specified pursuant to Section 1(e). For purposes of this sentence Section, employment of a holder shall not be deemed terminated so long as the holder is employed by the Company, by a subsidiary of the Company or by another corporation (or a parent or subsidiary corporation of such other corporation) which has assumed the Option of the holder. For purposes of this Section 12, the extent to which such an Option is Vested shall terminate be determined as of the day of notice of such termination by either party, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable on the date of termination may be of employment. This Option shall automatically terminate as to any Vested Option Shares not exercised by Optionee at any time within three (3) months following the date of such termination, unless Optionee dies during such three (3) month period, but in no event later than the Expiration Date. If Optionee is an employee, whether military, government or other service by Optionee or other leave of absence granted to Optionee shall constitute such a termination shall be determined in each case by the Board at its discretion, and any determination by the Board shall be final and conclusive. If the Board determines that such absence does not constitute such a [OFFICERS/EMPLOYEES/CONSULTANTS] termination, however, Optionee may exercise his or her option only with the consent of the Boarddates set forth above.
(b) If Optionee is an employee, This Option shall expire and terminate immediately upon termination of Optionee's the original Holder hereof being discharged from the employment with the Company (including its subsidiaries) as result of a permanent disability (as defined by Section 22(e)(3) of the Code), (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable on the date of such termination, but in no event later than the Expiration DateCompany for cause, and (ii) any all unexercised portion Options shall be deemed cancelled, void and of this Option which is otherwise exercisable on the date of such termination may be exercised by Optionee at any time within six (6) months following the date of such terminationno further effect, unless Optionee dies during such six (6) month period, but in no event later than the Expiration Date.
(c) If Optionee is an employee, upon termination of his whether or her employment by the Company without Cause, if there is a written employment agreement between Optionee and the Company, this Option shall cease to vest in accordance with the Vesting Schedule regardless of any salary continuation specified by such employment agreement as a result of such termination. Upon termination of his or her employment with the Company, (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable as to unvested options on the date of termination, but in no event later than the Expiration Date, and (ii) any unexercised portion of this Option which is otherwise exercisable as of such termination date may be exercised by Optionee at any time within three (3) months following such termination date, unless Optionee dies during such three (3) month period such option may be exercised pursuant to subparagraph (d) below, but in no event later than the Expiration Date. If there is no written employment agreement between Optionee and the Company, upon termination of his or her employment by the Company without Cause any unexercised portion of this Option shall terminate in accordance with Section 3(a) above, but in no event later than the Expiration Date.
(d) If Optionee dies, (i) except as provided in clause (ii) of this sentence, this Option shall terminate and be unexercisable on the date of death, and (ii) any unexercised portion of this Option, if otherwise exercisable not Vested at the date of death, may be exercised by his or her personal representatives, heirs, or legatees at any time prior to the expiration of one (1) year after the date of Optionee's death, but in no event later than the Expiration Date.of
Appears in 1 contract
Samples: Key Employee Option (Performance Grant) (Access Beyond Inc)