Common use of Termination of Relationship (other than Disability or Death) Clause in Contracts

Termination of Relationship (other than Disability or Death). If Participant ceases to be [an employee] [a consultant] [a nonemployee director] of the Company or any Subsidiary for any reason other than disability or death, this SAR shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such termination of employment, and (ii) the expiration date of this SAR stated in Paragraph 2(a) above. In such period following the termination of Participant’s employment, this SAR shall be exercisable only to the extent the SAR was exercisable on the vesting date immediately preceding such termination of employment, but had not previously been exercised. To the extent this SAR was not exercisable upon such termination of employment, or if Participant does not exercise the SAR within the time specified in this Paragraph 2(b), all rights of Participant under this SAR shall be forfeited.

Appears in 4 contracts

Samples: Stock Appreciation Rights Agreement (Surmodics Inc), Stock Appreciation Rights Agreement (Cardiovascular Systems Inc), Stock Appreciation Rights Agreement (Cardiovascular Systems Inc)

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