Termination of Relationship. If Optionee terminates Continuous Status as an Employee or Consultant for any reason, Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested at the date of such termination. To the extent that Optionee was not vested in this Option at the date on which Optionee terminates Continuous Status as an Employee or Consultant, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.
Termination of Relationship. As of the date of the Optionee’s termination of employment with the Company, Optionee may exercise this Option on the terms and conditions set forth herein and in Schedule I hereto. To the extent that Optionee was not entitled to exercise this Option at the date of such termination, or if Optionee does not exercise this Option within the time specified in Schedule I hereto, the Option shall terminate.
Termination of Relationship. (a) If for any reason, except death or disability as provided below, the Optionee ceases to perform services for the Company, all rights granted hereunder shall terminate effective three months from that date.
(b) If the Optionee shall die while performing services for the Company, the Optionee’s estate or any Transferee, as defined herein, shall have the right within one year from the date of the Optionee’s death to exercise the Optionee’s vested Options subject to Section 3(c). For the purpose of this Agreement, “Transferee” shall mean a person to whom the Options are transferred by will or by the laws of descent and distribution.
Termination of Relationship. Unless otherwise provided in this Agreement or agreed to in writing by Participant and Company, if Participant ceases to be an employee of the Company or any Subsidiary at any time prior to any Vesting Date, for any reason, including the Participant’s voluntary resignation, the Participant shall forfeit all shares subject to this Award which, as of the termination date, have not yet vested.
Termination of Relationship. If Optionee ceases to be a Service Provider (other than by reason of the Optionee’s death or the total and permanent disability of the Optionee as defined in Code Section 22(e)(3)), Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested at the date on which Optionee ceases to be a Service Provider. To the extent that the Option is not vested at the date on which Optionee ceases to be a Service Provider, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.
Termination of Relationship. (a) If for any reason, except death or disability as provided below, the Optionee ceases to perform the services for which the Options were granted, all unvested options shall be automatically and irrefutably forfeited effective three months from the date the Optionee ceases to perform such services, except as otherwise provided herein.
(b) If the Optionee shall die while performing services for the Company, such Optionee’s estate or any Transferee (as defined hereinafter) shall have the right within twelve (12) months from the date of death to exercise the Optionee’s vested Options, subject to Section 3(c) hereof. For the purpose of this Agreement, “Transferee” shall mean an individual to whom such Optionee’s vested Options are transferred by will or by the laws of descent and distribution.
Termination of Relationship. If Participant ceases to be [an Employee] [a Consultant] [a Director] of the Company or any Subsidiary at any time during the term of the Award, for any reason, this Award shall terminate and all restricted stock units subject to this Award that have not vested shall be forfeited by Participant.
Termination of Relationship. (a) If for any reason, except death, the Optionee is neither an employee nor a director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee ceases to so act.
(b) Notwithstanding any other provision of this Agreement, all Options shall be immediately forfeited at the option of the Company’s Board of Directors (the “Board”) in the event of:
(1) Termination of both the Optionee’s employment and director position with the Company for any reason and including, but not limited to, fraud, theft, dishonesty or violation of Company policy;
(2) Purchasing or selling securities of the Company without written authorization in accordance with the Company’s inside information guidelines then in effect;
(3) Breaching any duty of confidentiality including that required by the Company’s inside information guidelines then in effect;
(4) Competing with the Company;
(5) Being unavailable for consultation after termination of the Optionee’s employment or director position with the Company if such availability is a condition of any agreement between the Company and the Optionee;
(6) Recruitment of Company personnel after termination of the Optionee’s employment or director position with the Company, whether such termination is voluntary or for cause;
(7) Failure to assign any invention or technology to the Company if such assignment is a condition of any agreements between the Company and the Optionee; and
(8) A finding by the Company’s Board that the Optionee has acted against the interests of the Company.
(c) If the Optionee shall die while an employee or director of the Company, the Optionee’s estate or any Transferee, as defined herein, shall have the right within one year from the date of the Optionee’s death to exercise the Optionee’s Options to the extent the right to exercise to the Options shall have accrued at the date of death, except to the extent the Options shall have been exercised prior thereto. For the purpose of this Agreement, “
Termination of Relationship. As of the date of the Optionee's termination of employment with the Company, Optionee may, to the extent otherwise so entitled at the date of such termination, exercise this Option for a period of three (3) months following the date of termination. To the extent that Optionee was not entitled to exercise this Option at the date of such termination, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.
Termination of Relationship. (a) In the event that the Equity Participant’s consulting is terminated for Cause prior to the execution of the Employment Agreement, the Corporation shall have the right to purchase from the Equity Participant, and if the Corporation exercises its option pursuant to this Section 4, the Equity Participant shall sell to the Corporation upon the exercise of such right, all of the Equity Participant’s Unreleased Shares (rounded up to the nearest whole Share) at the Original Cost Per Share.
(b) In the event that the Equity Participant executes the Employment Agreement prior to or in connection with the closing of the Bridge Financing, and his employment is subsequently terminated for any reason (with or without Cause), the Corporation shall have the right to purchase from the Equity Participant, and if the Corporation exercises its option pursuant to this Section 4, the Equity Participant shall sell to the Corporation upon the exercise of such right, (1) all of the Equity Participant’s Unreleased Shares (rounded up to the nearest whole Share) at the Original Cost Per Share, and (2) all of the Equity Participant’s Released Shares (rounded up to the nearest whole Share) at the Fair Market Value per Share; provided, however, that if, after the Executive Commencement Date, the Equity Participant’s employment is terminated by the Corporation for Cause pursuant to the terms and conditions of the Employment Agreement, the purchase price for any Released Shares shall be the Original Cost Per Share.
(c) For purposes of clause (b) above, Released Shares shall not include those shares that were released during the consulting period.
4.2 The number of Shares subject to purchase pursuant to Section 4.1 shall be adjusted to give effect to any stock dividend, or other distribution of stock made on or in respect of such Shares, or any subdivision, combination or reclassification of the outstanding capital stock of the Corporation or received in exchange for the Shares.
4.3 In order to exercise the option to purchase the Equity Participant’s Shares under this Section 4, the Corporation shall deliver a written notice to the Equity Participant (the “Share Repurchase Notice”), indicating its election to purchase any or all of the Shares and specifying the number of Unreleased Shares and Released Shares, if applicable, which the Corporation elects to purchase and the purchase price therefor, within ninety (90) days after the Equity Participant’s termination.
4.4 The repurchase of ...
