Termination of Options Sample Clauses

Termination of Options. The Options will terminate at the time specified below: (a) If a Change in Control occurs after the Grant Date but prior to the Grantee’s Separation, all Options will terminate at the expiration of the Term. (b) If, in the absence of a Change in Control after the Grant Date, the Grantee’s Separation occurs prior to the Close of Business on December 31, 2023 on account of a termination of the Grantee’s employment or service for Cause, all Options that are not vested and exercisable as of the Close of Business on the date of Separation will terminate at that time and all Options that are vested and exercisable as of the Close of Business on the date of Separation will terminate at the Close of Business on the first Business Day following the expiration of the 90-day period that began on the date of the Grantee's Separation. (c) If (i) the Grantee’s Separation occurs after the Close of Business on December 31, 2023, or (ii) in the absence of a Change in Control after the Grant Date, the Grantee’s Separation occurs (A) on account of a termination of the Grantee’s employment or service without Cause, (B) on account of a termination of the Grantee’s employment or service by the Grantee with or without Good Reason, or (C) by reason of the death or Disability of the Grantee, then, in each case, all Options that are not vested and exercisable as of the Close of Business on the date of Separation after giving effect to the provisions of Sections 3 and 7 above will terminate at that time, and all Options that are vested and exercisable as of the Close of Business on the date of Separation after giving effect to the provisions of Sections 3 and 7 above will terminate at the expiration of the Term. In any event in which Options remain exercisable for a period of time following the date of the Grantee’s Separation as provided above, the Options may be exercised during such period of time only to the extent the same were vested and exercisable as provided in Section 3 above on such date of Separation (after giving effect to the application of Section 7 above). Notwithstanding any period of time referenced in this Section 8 or any other provision of this Agreement or any other agreement that may be construed to the contrary, the Options will in any event terminate not later than upon the expiration of the Term.

Termination of Options. The Options shall terminate and be of no force or effect as follows: (a) If you continue in the employ of B&W through the Option Term, the Options will remain exercisable, subject to the terms hereof and the Plan, until the expiration of the Option Term, at which time the Options shall terminate and have no force or effect; (b) If your employment involuntarily terminates during the Option Term by reason of a Retirement or disability, the Options will remain exercisable, subject to the terms hereof and the Plan, until the expiration of the Option Term, at which time the Options shall terminate and have no force or effect; (c) If your employment terminates during the Option Term by reason of death, the Options terminate and have no force or effect three (3) years after the date of death, or upon the expiration of the Option Term, whichever occurs first; (d) If your employment terminates during the Option Term for any other reason, the Options terminate and have no force or effect upon the expiration of twelve (12) months after your termination of employment or the expiration of the Option Term, whichever occurs first.

Termination of Options. To the extent vested in accordance with Section 2 above, the Options will terminate, and be of no force or effect, upon the earlier of: (a) the date of termination of the Participant’s service as a Non-Employee Director of the Company if such termination is for cause as determined by the Board, or the second anniversary of such date if the Participant’s service as a Non-Employee Director of the Company terminates for any other reason; and (b) the expiration of the Option Term.

Termination of Options. To the extent not exercised, the Options shall terminate either on the Termination Date or, in the event that the Optionholder ceases to be employed by the Company, for any reason whatsoever, then this Option Agreement shall terminate 90 days following the date of such termination, or resignation, as the case may be, and the Optionholder shall have no further rights under this Option Agreement.

Termination of Options. If there exist any options or special rights which Landlord may have granted Tenant under this Lease including, but not limited to, options or rights regarding extensions of the Lease term, expansion of the Leased Premises, or acquisition of any other interest in the Leased Premises or the Building, then all such options and rights are independent of the leasehold estate hereby granted to Tenant by Landlord. Landlord and Tenant agree and acknowledge that the negotiated consideration for any such options or special rights is Tenant's entry into this Lease and that no portion of any sums due and payable by Tenant to Landlord hereunder is attributable thereto. In addition to, and not in lieu of, the above remedies of Landlord for Tenant's default, any and all such options or special rights shall be automatically terminated upon the occurrence of the following events: (a) Tenant shall have failed to pay when due any installment of Rent or other sums payable under this Lease for any three (3) consecutive months during the Lease term or any renewal or extension thereof, or for any five (5) months during the Lease term or any renewal or extension thereof, whether or not said defaults are cured by Tenant; or (b) Tenant shall have received two (2) or more notices of default under Paragraph 26(c) above with respect to any other covenant of this Lease, whether or not such default(s) is/are cured; or (c) Tenant shall have committed or suffered to exist any other event of default described under Paragraph 26 above, whether or not such default is cured by Tenant.

Termination of Options. (a) Subject to earlier termination as provided in the other provisions of this Agreement, the Options and all rights hereunder with respect thereto, to the extent such rights shall not have been exercised, shall terminate and become null and void on July 12, 2015 (the “Option Term”). (b) Upon the death of Optionee, the Options may be exercised, but only to the extent that the Options were outstanding and exercisable on the date of death, by Optionee’s estate, provided that such exercise occurs within both the remaining Option Term and six months after Optionee’s death. The Options held by Optionee to the extent exercisable on the date of Optionee’s death shall terminate at the end of the Option Term or six months after Optionee’s death, whichever is earlier. The Options held by Optionee to the extent not exercisable on the date of Optionee’s death shall terminate upon Optionee’s death. (c) Upon termination of Optionee’s employment or engagement with the Company by reason of permanent disability (as determined by the Board, or if Optionee has an employment or engagement agreement with the Company, then as determined pursuant to the applicable provisions of said agreement, if any), the Options may be exercised by Optionee, but only to the extent that the Options were outstanding and exercisable on the date of Optionee’s termination, provided that such exercise occurs within both the remaining Option Term and within six months from the date of Optionee’s termination. The Options held by Optionee to the extent exercisable on the date of Optionee’s termination shall terminate at the end of the Option Term or six months after Optionee’s termination, whichever is earlier. The Options held by Optionee to the extent not exercisable on the date of Optionee’s termination shall terminate on the date of Optionee’s termination. (d) Upon Optionee’s termination of employment or engagement with the Company by resignation or upon termination of Optionee’s employment or engagement with the Company for cause (as that term is defined in the Plan), all Options granted to Optionee shall terminate on the date of termination of employment or engagement. (e) If Optionee’s employment or engagement with the Company terminates for any reason other than as described in paragraphs (b), (c) or (d) of this Section 3, then the Options held by Optionee to the extent not exercisable on the date of Optionee’s termination shall terminate on the date of Optionee’s termination. The Options, to t...

Termination of Options. (a) Except as otherwise set forth in this Option Agreement, any Options not already exercised will terminate automatically and without further notice at the close of business (or in case of (i) below, immediately upon notice of termination) on the earliest of the following dates: (i) the one year anniversary following the date of termination of Holder’s service with the Company and its Affiliates, if termination of Holder’s service is for death or Disability or retirement on or after Holder attains age 65; (ii) 90 calendar days following the date of termination of Holder’s service with the Company and its Affiliates, if termination of Holder’s employment is for any reason other than death, Disability or retirement on or after Holder attains age 65; or (iv) December 31, 2023. For purposes of this Agreement, “Disability” shall mean the inability of Holder to perform the essential functions of Xxxxxx’s job with or without reasonable accommodation, for a period of ninety (90) days in the aggregate during any rolling 180-day period. (b) In no event may the Options be exercised, in whole or in part, after termination pursuant to subparagraphs 6(a).

Termination of Options. Options which have vested in accordance with Section 2 of this Agreement shall terminate, to the extent not previously exercised, on _______________, provided that: (a) in the event that the Optionee holds his or her Options as an employee and the Optionee ceases to be an employee other than by reason of death, disability or termination for cause (as defined by applicable law), the expiration of thirty (30) days from the date that the Optionee ceases to be an employee; (b) in the event that the Optionee holds his or her Options as an officer, director or consultant of the Corporation or any Related Corporation, and the Optionee ceases to be an officer or director other than by reason of death or disability, the expiration of one (1) month following the date the Optionee ceases to be an officer, director or consultant of the Corporation unless the Optionee continues to be engaged by the Corporation as an employee, then the expiration as specified in section 5.1(g)(i)(B) of the Plan; (c) in the event that the Optionee ceases to be a director, officer, employee or consultant of the Corporation or any Related Corporation for cause (as defined by applicable law and as determined by the Plan Administrator acting reasonably), the date the Optionee ceases to be a director, officer, employee or consultant of the Corporation or any Related Corporation; (d) in the event the Optionee should die while he or she is still a director, officer, employee or consultant of the Corporation or any Related Corporation, the expiration of six (6) months from the death of the Optionee unless, in the case of a Non-Qualified Stock Option, the exercise period is extended by the Plan Administrator until a date not later than the expiration date of the Option; or (e) in the event that the Optionee should become disabled while he or she is still a director, officer, employee or consultant of the Corporation or any Related Corporation, the expiration of six (6) months from the date of disability of the Optionee unless, in the case of a Non-Qualified Stock Option, the exercise period is extended by the Plan Administrator until a date not later than the expiration date of the Option; (f) If an Optionee's employment or contractual relationship is terminated by death, any Option held by the Optionee shall be exercisable only by the person or persons to whom such Optionee's rights under such Option shall pass by the Optionee's will or by the laws of descent and distribution. Each unvested Opti...

Termination of Options. (a) The Option may not be exercised after the expiration of the Option Period and is only exercisable as provided in Section 4 of this Agreement. The Option hereby granted shall terminate and be of no force or effect upon the expiration of the Option Period. In addition, if the Participant has a Termination of Service during the Option Period for any reason, the unvested portion of the Option shall terminate. (b) Subject to the limitations set forth in this Agreement and in the Plan, the Participant may exercise the vested portion of the Option in whole or in part at any time or from time to time from the Grant Date until the first to occur of: (i) three months following the date of the Participant’s Termination of Service for any reason other than death or Disability; (ii) one year following the date of the Participant’s death, if an employee at the time of death (during which one year period the Option may be exercised (to the extent otherwise exercisable) by the person to whom the Participant’s rights hereunder shall have passed by will or by the laws of descent and distribution (hereinafter, a “Successor”)); (iii) one year following the date of the Participant’s Termination of Service due to Disability; or (iv) the expiration of the Option Period.

Termination of Options. This Option shall expire as set forth above and may not be exercised later than the Expiration Date. Notwithstanding the foregoing, this Option may not be exercised after the first to occur of the following: (i) the date set by the Board of Directors to be an accelerated expiration date after a finding by the Board of Directors of inTEST (the "Board of Directors") that a change in the financial accounting treatment for options from that in effect on the date the Plan was adopted materially adversely affects inTEST or, in the determination of the Board of Directors, may materially adversely affect inTEST in the foreseeable future, provided the Board of Directors may take whatever action, including acceleration of any exercise provisions, it deems necessary should it make the determination referred to above; (ii) expiration of one (1) year from the date the Optionee's service with inTEST (or any of its Affiliates) terminates for any reason, other than for cause, in which case this Option shall expire immediately; or (iii) in the event of a "Change in Control" (as defined in the Plan), the expiration date of any Option which has vested may be accelerated to a date not earlier than thirty (30) days after notice of such acceleration is given to the Optionee, and any Option which has not vested may be terminated.