Common use of Termination of Employment (other than Disability, Death, or Retirement Clause in Contracts

Termination of Employment (other than Disability, Death, or Retirement. Unless otherwise agreed to in writing by Participant and the Company, if Participant ceases to be an employee of the Company or any Subsidiary during the term of this Option for any reason other than disability, death, or Retirement (as defined in Section 2(e) of this Agreement), this Option, whether vested or unvested, shall completely terminate on the earlier of: (i) the close of business on the three-month anniversary date of the Termination Date; and (ii) the expiration date of this Option stated in Section 2(a) above. In such period following the Termination Date, this Option shall be exercisable only to the extent the Option was exercisable on the Vesting Date immediately preceding such Termination Date, but had not previously been exercised. To the extent this Option was not exercisable upon such Termination Date, all rights of Participant under this Option shall be forfeited. If Participant does not exercise the Option within the time specified in this Section 2(b), all rights of Participant under this Option shall be forfeited.

Appears in 3 contracts

Samples: Global Employee Nonqualified Stock Option Agreement (BIO-TECHNE Corp), Global Employee Nonqualified Stock Option Agreement (BIO-TECHNE Corp), Global Employee Nonqualified Stock Option Agreement (BIO-TECHNE Corp)

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Termination of Employment (other than Disability, Death, or Retirement. Unless otherwise agreed to in writing by Participant and the Company, if Participant ceases to be an employee of the Company or any Subsidiary during the term of this Option for any reason other than disability, death, or Retirement (as defined in Section 2(e) of this Agreement), ) this Option, whether vested or unvested, Option shall completely terminate on the earlier of: (i) the close of business on the three-month anniversary date of the Termination Datesuch termination of employment; and (ii) the expiration date of this Option stated in Section 2(a) above. In such period following the Termination Datetermination of Participant's employment, this Option shall be exercisable only to the extent the Option was exercisable on the Vesting Date immediately preceding such Termination Datetermination of employment, but had not previously been exercised. To the extent this Option was not exercisable upon such Termination Datetermination of employment, all rights of Participant under this Option shall be forfeited. If Participant does not exercise the Option within the time specified in this Section 2(b), all rights of Participant under this Option shall be forfeited.

Appears in 3 contracts

Samples: Incentive Stock Option Agreement (BIO-TECHNE Corp), Incentive Stock Option Agreement (BIO-TECHNE Corp), Incentive Stock Option Agreement (BIO-TECHNE Corp)

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Termination of Employment (other than Disability, Death, or Retirement. Unless otherwise agreed to in writing by Participant and the Company, if Participant ceases to be an employee of the Company or any Subsidiary during the term of this Option for any reason other than disability, death, death or Retirement (as defined in Section 2(e) of this Agreement), this Option, whether vested or unvested, Option shall completely terminate on the earlier of: (i) the close of business on the three-month anniversary date of the Termination Datesuch termination of employment; and (ii) the expiration date of this Option stated in Section 2(a) above. In such period following the Termination Datetermination of Participant's employment, this Option shall be exercisable only to the extent the Option was exercisable on the Vesting Date immediately preceding such Termination Datetermination of employment, but had not previously been exercised. To the extent this Option was not exercisable upon such Termination Datetermination of employment, all rights of Participant under this Option shall be forfeited. If Participant does not exercise the Option within the time specified in this Section 2(b), all rights of Participant under this Option shall be forfeited.

Appears in 3 contracts

Samples: Incentive Stock Option Agreement (BIO-TECHNE Corp), Incentive Stock Option Agreement (BIO-TECHNE Corp), Incentive Stock Option Agreement (BIO-TECHNE Corp)

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