Common use of Termination of Employment or Service for Cause Clause in Contracts

Termination of Employment or Service for Cause. Notwithstanding any other provision of this Agreement, all rights hereunder will be immediately discontinued and forfeited, and the Company shall not have any further obligation hereunder to the Participant, and the Option will not be exercisable for any number of shares of Common Stock (even if the Option previously became exercisable), on and after the time the Participant is discharged from employment or service with the Company and its Affiliates by the Company or an Affiliate for Cause.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (ConversionPoint Holdings, Inc.), Nonqualified Stock Option Agreement (Intrexon Corp)

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Termination of Employment or Service for Cause. Notwithstanding any other provision of this Agreement, all rights hereunder will be immediately discontinued and forfeited, and the Company shall not have any further obligation hereunder to the Participant, Participant and the Option will not be exercisable for any number of shares of Common Stock (even if the Option previously became exercisable), on and after the time the Participant is discharged from employment or service with the Company and its Affiliates by the Company or an any Affiliate for Cause.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Earthlink Inc), Nonqualified Stock Option Agreement (Earthlink Inc)

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