Common use of Termination of Service - General Clause in Contracts

Termination of Service - General. If, while the Option is outstanding, your Service terminates for any reason, other than being terminated by the Company for Cause or due to your death or Disability, then the unvested portion of your Option shall be forfeited without consideration and shall immediately expire on your Termination Date and the vested portion of your Option will expire at the earlier of (i) the close of business at Company headquarters on the date that is three (3) months after your Termination Date, (ii) the Expiration Date set forth in the attached cover sheet and further described in Section 4 above, or (iii) the date on which the Option is cancelled (and not substituted or assumed) pursuant to a Change in Control or merger or acquisition or reorganization or similar transaction involving the Company. In no event is the Option exercisable after the Expiration Date.

Appears in 4 contracts

Samples: Nonstatutory Stock Option Agreement (GAN LTD), Incentive Stock Option Agreement (GAN LTD), Incentive Stock Option Agreement (Parametric Sound Corp)

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Termination of Service - General. If, while the Option is outstanding, your Service terminates Termination Date occurs for any reason, other than being terminated by the Company for Cause or due to your death or Disabilitya Qualifying Termination, then the unvested portion of your Option shall be forfeited without consideration and shall immediately expire on your Termination Date and the vested portion of your Option will expire at the earlier of (i) the close of business at Company headquarters on the date that is three (3) months after your Termination Date, (ii) the Expiration Date set forth in the attached cover sheet and further described in Section 4 above, or (iii) the date on which the Option is cancelled (and not substituted or assumed) pursuant to a Change in Control or merger or acquisition or reorganization or similar transaction involving the Company. In no event is the Option exercisable after the Expiration Date.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (RadNet, Inc.), Nonstatutory Stock Option Agreement (RadNet, Inc.)

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