Termination of Option upon a Termination of Grantee’s Employment or Services. Subject to earlier termination on the Expiration Date of the Option or pursuant to Section 4.1 above, if the Grantee ceases to be employed by or ceases to provide services to the Corporation or a Subsidiary, the following rules shall apply (the last day that the Grantee is employed by or provides services to the Corporation or a Subsidiary is referred to as the Grantee’s “Severance Date”): • other than as expressly provided below in this Section 4.2, (a) the Grantee will have until the date that is 30 days after his or her Severance Date to exercise the Option (or portion
Appears in 6 contracts
Samples: Performance Accelerated Stock Option Agreement (New Century Financial Corp), Performance Accelerated Stock Option Agreement (New Century Financial Corp), Performance Accelerated Stock Option Agreement (New Century Financial Corp)
