Termination of Employment (other than Termination for Cause, Disability or Death). If Participant’s Employment with the Company and its Affiliates is terminated for any reason other than termination by the Company for Cause, Disability, or death, this Option shall terminate on the earlier of (i) ninety (90) days following the date of such termination of Employment, and (ii) the Expiration Date of this Option stated in Paragraph 2(a) above. In such period following the termination 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 of Employment, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of Employment, or if Participant does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant under this Option shall be forfeited.
Appears in 4 contracts
Samples: Nonqualified Stock Option Agreement (Bluestem Brands, Inc.), Nonqualified Stock Option Agreement (Bluestem Brands, Inc.), Nonqualified Stock Option Agreement (Bluestem Brands, Inc.)
Termination of Employment (other than Termination for Cause, Disability or Death). If Participant’s Employment employment with the Company and its Affiliates or any Affiliate is terminated for any reason other than termination by the Company for Cause, Disability“cause,” disability, or death, this Option shall completely terminate on the earlier of (i) ninety (90) days following the close of business on the three-month anniversary date of such termination of Employmentemployment, and (ii) the Expiration Date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s Employmentemployment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of Employmentemployment, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of Employmentemployment, or if Participant does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant under this Option shall be forfeited.
Appears in 3 contracts
Samples: Incentive Stock Option Agreement (uBid.com Holdings, Inc.), Incentive Stock Option Agreement (Cape Coastal Trading Corp), Incentive Stock Option Agreement (uBid.com Holdings, Inc.)
Termination of Employment (other than Termination for Cause, Disability or Death). If Participant’s Employment employment with the Company and its Affiliates or any Affiliate is terminated for any reason other than termination by the Company for Cause, Disability“cause,” disability, or death, this Option shall completely terminate on the earlier of (i) ninety (90) days following the close of business on the three-month anniversary date of such termination of Employmentemployment, and (ii) the Expiration Date expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s Employmentemployment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of Employmentemployment, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of Employmentemployment, or if Participant does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant under this Option shall be forfeited.
Appears in 3 contracts
Samples: Incentive Stock Option Agreement (Kips Bay Medical, Inc.), Nonqualified Stock Option Agreement (Kips Bay Medical, Inc.), Incentive Stock Option Agreement (Titan Machinery Inc.)
Termination of Employment (other than Termination for Cause, Disability or Death). If ParticipantOptionee’s Employment employment with the Company and its Affiliates or any Affiliate is terminated for any reason other than termination by the Company for Cause, Disability“cause,” disability, or death, this Option shall completely terminate on the earlier of (i) ninety (90) days following the close of business on the three-month anniversary date of such termination of Employmentemployment, and (ii) the Expiration Date expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of ParticipantOptionee’s Employmentemployment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of Employmentemployment, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of Employmentemployment, or if Participant Optionee does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant Optionee under this Option shall be forfeited.
Appears in 2 contracts
Samples: Nonqualified Stock Option Agreement (Bluestem Brands, Inc.), Incentive Stock Option Agreement (Bluestem Brands, Inc.)
