Common use of Termination of Employment Other Than Due to Death, Disability or Cause Clause in Contracts

Termination of Employment Other Than Due to Death, Disability or Cause. (1) Optionee may exercise the vested portion of the Options for a period of ninety (90) days (but in no event later than the Option Expiration Date) following any termination of Optionee’s employment with Company, either by Optionee or Company, other than in the event of a termination of Optionee’s employment by Company for Cause, voluntary termination by Optionee without Good Reason or by reason of Optionee’s death or Disability. In the event the termination of Optionee’s employment is by Company without Cause or by Optionee for Good Reason, any unvested portion of the Options shall become immediately and fully vested as of the date of such termination. (2) In the event of a voluntary termination of employment with Company by Optionee without Good Reason, (i) unvested Options as of the date of termination shall immediately terminate in their entirety and shall thereafter not be exercisable to any extent whatsoever; and (ii) Optionee may exercise any portion of the Options that are vested as of the date of termination for a period of ninety (90) days (but in no event later than the Option Expiration Date) following the date of termination. (3) For purposes of this Agreement, the terms “Cause” and “Good Reason” shall have the meanings ascribed to them in that certain Severance Benefits Agreement dated as of June 18, 2015 by and between Company and Optionee (“Severance Agreement”). To the extent Optionee is not entitled to exercise the Options at the date of termination of employment, or if Optionee does not exercise the Options within the time specified in this Agreement for post-termination of employment exercises of the Options, the Options shall terminate.

Appears in 1 contract

Samples: Inducement Stock Option Award Agreement (Autobytel Inc)

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Termination of Employment Other Than Due to Death, Disability or Cause. (1) Optionee may exercise the vested portion of the Options for a period of ninety one hundred and eighty (90180) days (but in no event later than the Option Expiration Date) following any termination of Optionee’s employment with Company, either by Optionee or Company, other than in the event of a termination of Optionee’s employment by Company for Cause, voluntary termination by Optionee without Good Reason or by reason of Optionee’s death or Disability. In the event the termination of Optionee’s employment is by Company without Cause or by Optionee for Good Reason, any the unvested portion of the Options shall become immediately and fully vested as of on the date of such termination. (2) In the event of a voluntary termination of employment with Company by Optionee without Good Reason, (i) unvested Options as of the date of termination shall immediately terminate in their entirety and shall thereafter not be exercisable to any extent whatsoever; and (ii) Optionee may exercise any portion of the Options that are vested as of the date of termination for a period of ninety (90) days (but in no event later than the Option Expiration Date) following the date of termination. (3) For purposes of this Agreement, the terms “Cause” and “Good Reason” shall have the meanings ascribed to them in that certain Severance Benefits Agreement dated as of June 18, 2015 by and between Company and Optionee (“Severance Agreement”). To the extent Optionee is not entitled to exercise the Options at the date of termination of employment, or if Optionee does not exercise the Options within the time specified in this Agreement for post-termination of employment exercises of the Options, the Options shall terminate. (4) For purposes of this Agreement, the terms “Cause”, “Disability” and “Good Reason” shall have the meanings ascribed to them in the Employment Agreement.

Appears in 1 contract

Samples: Inducement Stock Option Award Agreement (AutoWeb, Inc.)

Termination of Employment Other Than Due to Death, Disability or Cause. (1) Optionee Participant may exercise the vested portion of the Options for a period of ninety (90) days (but in no event later than the Option Expiration Date) following any termination of OptioneeParticipant’s employment with Company, either by Optionee Participant or Company, other than in the event of a termination of OptioneeParticipant’s employment by Company for Cause, voluntary termination by Optionee Participant without Good Reason or by reason of OptioneeParticipant’s death or Disability. In the event the termination of OptioneeParticipant’s employment is by Company without Cause or by Optionee Participant for Good Reason, any unvested portion of the Options shall become immediately and fully vested as of the date of such termination. (2) In the event of a voluntary termination of employment with the Company by Optionee Participant without Good Reason, (i) unvested Options as of the date of termination shall immediately terminate in their entirety and shall thereafter not be exercisable to any extent whatsoever; and (ii) Optionee Participant may exercise any portion of the Options that are vested as of the date of termination for a period of ninety (90) days (but in no event later than the Option Expiration Date) following the date of termination. (3) For purposes of this Agreement, the terms “Cause” and “Good Reason” shall have the meanings ascribed to them in that certain Severance Benefits Agreement dated as of June 18, 2015 _______________ by and between Company and Optionee Participant (“Severance Agreement”). To the extent Optionee Participant is not entitled to exercise the Options at the date of termination of employment, or if Optionee Participant does not exercise the Options within the time specified in the Plan or this Agreement for post-termination of employment exercises of the Options, the Options shall terminate.

Appears in 1 contract

Samples: Employee Stock Option Award Agreement (Autobytel Inc)

Termination of Employment Other Than Due to Death, Disability or Cause. (1) Optionee Participant may exercise the vested portion of the Options for a period of ninety twelve (9012) days months (but in no event later than the Option Expiration Date) following any termination of OptioneeParticipant’s employment with Company, either by Optionee Participant or Company, other than in the event of a termination of OptioneeParticipant’s employment by Company for Cause, voluntary termination by Optionee Participant without Good Reason or by reason of OptioneeParticipant’s death or Disability. In the event the termination of OptioneeParticipant’s employment is by Company without Cause or by Optionee Participant for Good Reason, any unvested portion of the Options shall become immediately and fully vested as of the date of such termination. (2) In the event of a voluntary termination of employment with the Company by Optionee Participant without Good Reason, (i) unvested Options as of the date of termination shall immediately terminate in their entirety and shall thereafter not be exercisable to any extent whatsoever; and (ii) Optionee Participant may exercise any portion of the Options that are vested as of the date of termination for a period of ninety one (901) days year (but in no event later than the Option Expiration Date) following the date of termination. In addition, if Participant was a member of the Company’s board of directors at the time of voluntary termination by the Participant without Good Reason and Participant continues to serve as a member of the Company’s board of directors after the termination of employment, then (i) the foregoing one-year post-termination of employment exercise period shall not commence until Participant ceases to serve as a member of the Company’s board of directors, provided that in no event may any such extension extend beyond the Option Expiration Date; and (ii) unvested Options at the time of termination of employment shall continue to vest in accordance with the vesting schedule set forth in Section 3 during the time that Participant continues to serve as a member of the Company’s board of directors. (3) For purposes of this Agreement, the terms “Cause” and “Good Reason” shall have the meanings ascribed to them in that certain Severance Benefits the severance agreement identified on the signature page to this Agreement dated as of June 18, 2015 by and between Company and Optionee (“Severance Agreement”). To the extent Optionee Participant is not entitled to exercise the Options at the date of termination of employment, or if Optionee Participant does not exercise the Options within the time specified in the Plan or this Agreement for post-termination of employment exercises of the Options, the Options shall terminate.

Appears in 1 contract

Samples: Employee Stock Option Award Agreement (Autobytel Inc)

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Termination of Employment Other Than Due to Death, Disability or Cause. (1) Optionee Participant may exercise the vested portion of the Options for a period of ninety twelve (9012) days months (but in no event later than the Option Expiration Date) following any termination of OptioneeParticipant’s employment with Company, either by Optionee Participant or Company, other than in the event of a termination of OptioneeParticipant’s employment by Company for Cause, voluntary termination by Optionee Participant without Good Reason or by reason of OptioneeParticipant’s death or Disability. In the event the termination of OptioneeParticipant’s employment is by Company without Cause or by Optionee Participant for Good Reason, any unvested portion of the Options shall become immediately and fully vested as of the date of such termination. (2) In the event of a voluntary termination of employment with the Company by Optionee Participant without Good Reason, (i) unvested Options as of the date of termination shall immediately terminate in their entirety and shall thereafter not be exercisable to any extent whatsoever; and (ii) Optionee Participant may exercise any portion of the Options that are vested as of the date of termination for a period of ninety twelve (9012) days months (but in no event later than the Option Expiration Date) following the date of termination. In addition, if Participant was a member of the Company’s board of directors at the time of voluntary termination by the Participant without Good Reason and Participant continues to serve as a member of the Company’s board of directors after the termination of employment, then (i) the foregoing one-year post-termination of employment exercise period shall not commence until Participant ceases to serve as a member of the Company’s board of directors, provided that in no event may any such extension extend beyond the Option Expiration Date; and (ii) unvested Options at the time of termination of employment shall continue to vest in accordance with the vesting schedule set forth in Section 3 during the time that Participant continues to serve as a member of the Company’s board of directors. (3) For purposes of this Agreement, the terms “Cause” and “Good Reason” shall have the meanings ascribed to them in that certain Severance Benefits the severance agreement identified on the signature page to this Agreement dated as of June 18, 2015 by and between Company and Optionee (“Severance Agreement”). To the extent Optionee Participant is not entitled to exercise the Options at the date of termination of employment, or if Optionee Participant does not exercise the Options within the time specified in the Plan or this Agreement for post-termination of employment exercises of the Options, the Options shall terminate.

Appears in 1 contract

Samples: Employee Stock Option Award Agreement (Autobytel Inc)

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