Termination of Service Due to Death, Disability or Retirement. Upon a termination of the Participant’s Service by reason of death, Disability or Retirement, any unvested portion of the Option shall immediately terminate and be forfeited without consideration and the Vested Portion shall remain exercisable until the earlier of (i) three (3) years following such termination of Service and (ii) the expiration of the Option Term.
Appears in 2 contracts
Samples: Nonqualified Stock Option Award Agreement (General Growth Properties, Inc.), Nonqualified Stock Option Award Agreement (General Growth Properties, Inc.)
Termination of Service Due to Death, Disability or Retirement. Upon a termination of the Participant’s Service service by reason of death, Disability or Retirement, any unvested portion of the Option shall immediately terminate and be forfeited without consideration and the Vested Portion shall remain exercisable until the earlier of (i) three (3) years following such termination of Service service and (ii) the expiration of the Option Term.
Appears in 2 contracts
Samples: Incentive Plan Nonqualified Stock Option Award Agreement (General Growth Properties, Inc.), Nonqualified Stock Option Award Agreement (General Growth Properties, Inc.)
