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.
Appears in 9 contracts
Samples: Non Qualified Stock Option Agreement (Ecosphere Technologies Inc), Non Qualified Stock Option Agreement (Ecosphere Technologies Inc), Non Qualified Stock Option Agreement (Ecosphere Technologies Inc)
Termination of Relationship. (a) If Except as provided in Section 4(b) or (c), if for any reason, except death or disability as provided below, reason the Optionee ceases to perform services for as an employee of the Company, all rights granted hereunder shall terminate effective three months from that date.
(b) If the Optionee shall die while performing ceases to provide services for the CompanyCompany as a result of her death, the Optionee’s estate or any Transferee, as defined herein, shall have the right within one year from for 12 months form 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 such shares are transferred by will or by the laws of descent and distribution.
Appears in 3 contracts
Samples: Incentive Stock Option Agreement (VerifyMe, Inc.), Incentive Stock Option Agreement (VerifyMe, Inc.), Incentive Stock Option Agreement (VerifyMe, Inc.)
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 such shares are transferred by will or by the laws of descent and distribution.
Appears in 3 contracts
Samples: Non Qualified Stock Option Agreement (Upstream Worldwide, Inc.), Non Qualified Stock Option Agreement (Upstream Worldwide, Inc.), Non Qualified Stock Option Agreement (Ecosphere Technologies Inc)
Termination of Relationship. (a) If for any reason, except death or disability as provided below, the Optionee ceases to perform services for is no longer a consultant of the Company, all rights granted hereunder vested Options shall terminate effective three months from that dateremain exercisable until the Expiration Date.
(b) If the Optionee shall die while performing services for ceases to be a consultant to the CompanyCompany as a result of his death, the Optionee’s estate or any Transferee, as defined herein, shall have the right within one year three months from the date of the Optionee’s '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 such shares are transferred by will or by the laws of descent and distribution.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (VerifyMe, Inc.), Non Qualified Stock Option Agreement (VerifyMe, Inc.)
Termination of Relationship. (a) If Except as provided in Section 4(b) or (c), if for any reason, except death or disability as provided below, reason 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 ceases to provide services for the CompanyCompany as a result of her death, the Optionee’s estate or any Transferee, as defined herein, shall have the right within one year from for 12 months form 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 such shares are transferred by will or by the laws of descent and distribution.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (VerifyMe, Inc.), Non Qualified Stock Option Agreement (VerifyMe, Inc.)
Termination of Relationship. (a) If for any reason, except death or disability as provided below, reason the Optionee ceases to perform services for the Company, all rights granted hereunder shall terminate effective three months ninety days from that date.
(b) If the Optionee shall die while performing ceases to provide services for the CompanyCompany as a result of his death, the Optionee’s estate or any Transferee, as defined herein, shall have the right within one year ninety days from the date of the Optionee’s death to exercise the Optionee’s vested the Incentive Options subject to Section 3(c). For the purpose of this Agreement, “Transferee” shall mean a person to whom the Options such shares are transferred by will or by the laws of descent and distribution.
Appears in 2 contracts
Samples: Incentive Stock Option Agreement (Recruiter.com Group, Inc.), Incentive Stock Option Agreement (Recruiter.com Group, Inc.)
Termination of Relationship. (a) If for any reason, except death or disability as provided below, reason the Optionee ceases to perform services for the Company, all rights granted hereunder shall terminate effective three months one year from that date.
(b) If the Optionee shall die while performing ceases to provide services for the CompanyCompany as a result of his death, 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 the Options subject to Section 3(c). For the purpose of this Agreement, “Transferee” shall mean a person to whom the Options such shares are transferred by will or by the laws of descent and distribution.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Recruiter.com Group, Inc.), Non Qualified Stock Option Agreement (Recruiter.com Group, Inc.)
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 one year 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 such shares are transferred by will or by the laws of descent and distribution.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Upstream Worldwide, Inc.)
Termination of Relationship. (a) If for any reason, except death or disability as provided below, the Optionee ceases to perform services for be a director of the Company, all rights granted hereunder shall terminate effective three months one year from that date.
(b) If the Optionee shall die while performing services for ceases to be a director of the CompanyCompany as a result of his death, 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 the Options subject to Section 3(c). For the purpose of this Agreement, “Transferee” shall mean a person to whom the Options such shares are transferred by will or by the laws of descent and distribution.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (usell.com, Inc.)
Termination of Relationship. (a) If for any reason, except death or disability as provided below, the Optionee ceases to perform services for be employed by the Company, all rights granted hereunder shall terminate effective three months from that date.
(b) If the Optionee shall die while performing services for employed by 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(c3(d). For the purpose of this Agreement, “Transferee” shall mean a person to whom the Options such shares are transferred by will or by the laws of descent and distribution.
Appears in 1 contract
Samples: Employee Non Qualified Stock Option Agreement (Quepasa Corp)
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 such date.
(b) If the Optionee shall die while performing services an independent contractor for or consultant to the Company, the Optionee’s estate or any Transferee, as defined herein, shall have the right within one year 12 months from the such date of the Optionee’s death to exercise the Optionee’s 's vested Options Options, subject to Section 3(c). For the purpose of this Agreement, “"Transferee” " shall mean the personal representative of the estate or a person to whom the Options such shares are transferred by will or by the laws of descent and distribution.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Ultrastrip Systems Inc)