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).
Appears in 10 contracts
Samples: Nonqualified Stock Option Agreement (Key Mining Corp.), Nonqualified Stock Option Agreement (Key Mining Corp.), Nonqualified Stock Option Agreement (Key Mining Corp.)
