Common use of Termination of Options Clause in Contracts

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.

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) five years from the Date of Grant, if on such date the Optionee owns directly or by attribution under the Code, shares possessing more than ten percent (10%) of the total combined voting power of all classes of stock of inTEST; (ii) the date set by the Board of Directors of inTEST (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; (iiiii) expiration of one (1) year from the date the Optionee's employment or service with inTEST (or any of its Affiliates) terminates for any reason, reason other than if the Optionee has been discharged from employment with inTEST for causeCause, in which case case, this Option shall expire immediately; or (iiiiv) in the event of a "Change in of Control" (as defined in the Plan), the expiration date 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.

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 of inTEST (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 ’s service with inTEST (or any of its Affiliates) terminates for any reason, other than for causeCause, in which case this Option shall expire immediately; or (iii) in the event of a "Change in of Control" (as defined in the Plan), the expiration date 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.

Termination of Options. This Option shall expire In no event may the Options be exercised after they terminate as set forth above and in this Section 2. 2.1 If: (a) The Employee’s employment with the Company terminates for any reason other than Cause, Disability or death, then, only to the extent they are vested at the time of such termination (taking into account any acceleration of vesting provided for in the Employment Agreement), the Options may not thereafter be exercised later than by the Expiration Date. Notwithstanding Employee until and including the foregoing, this Option may not be exercised after the first earlier to occur of (and to the following: extent they are not so exercised shall terminate upon): (i) the date set by that is one year after the Board of Directors to be an accelerated expiration effective 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 Employee’s termination of Directorsemployment, may materially adversely affect inTEST in and (ii) 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 aboveExpiration Date; (b) The Employee’s employment with the Company terminates by reason of Disability or death, then, only to the extent they are vested at the time of such Disability or death (taking into account any acceleration of vesting provided for in the Employment Agreement), the Options may thereafter be exercised by the Employee or the Employee’s Legal Representative until and including the earlier to occur of (and to the extent they are not so exercised shall terminate upon): (i) the date that is one year after the effective date of the Employee’s termination of employment, and (ii) expiration the Expiration Date; (c) The Employee dies during the period set forth in Section 2.1(a) above following termination of one employment for a reason other than Cause, then, only to the extent they are vested at the time of Employee’s death (1taking into account any acceleration of vesting provided for in the Employment Agreement), the Options may thereafter be exercised by the Employee’s Legal Representative until and including the earlier to occur of (and to the extent they are not so exercised shall terminate upon): (i) year from the date that is one year after the Optionee's service with inTEST effective date of the Employee’s termination of employment, and (or any of its Affiliatesii) terminates for any reason, other than for cause, in which case this Option shall expire immediatelythe Expiration Date; orand (iiid) in The Employee’s employment is terminated by the event of a "Change in Control" Company for Cause or, prior to June 16, 2011, Employee terminates his employment without Good Reason (each as defined in the PlanEmployment Agreement), then the expiration date of any Option which has Options (whether vested may be accelerated to a date not earlier than thirty (30or unvested) days after notice of shall terminate in their entirety automatically upon such acceleration is given termination. 2.2 Notwithstanding anything in this Agreement to the Optioneecontrary the Options shall terminate, and any Option which has to the extent not vested may be exercised or earlier terminated, on the Expiration Date.

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) five years from the Date of Grant, if on such date the Optionee owns directly or by attribution under the Code, shares possessing more than ten percent (10%) of the total combined voting power of all classes of stock of inTEST; (ii) the date set by the Board of Directors of inTEST (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; (iiiii) expiration of one (1) year 60 days from the date the Optionee's employment or service with inTEST (or any of its Affiliates) terminates for any reason, reason other than if the Optionee has been discharged from employment with inTEST for causeCause, in which case case, this Option shall expire immediately; or (iiiiv) in the event of a "Change in of Control" (as defined in the Plan), the expiration date 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.

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 of inTEST (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 60 days from the date the Optionee's ’s service with inTEST (or any of its Affiliates) terminates for any reason, other than for causeCause, in which case this Option shall expire immediately; or (iii) in the event of a "Change in of Control" (as defined in the Plan), the expiration date 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.