Common use of Termination of Service without Cause Clause in Contracts

Termination of Service without Cause. Upon a termination of the Participant’s service by the Company without Cause (except as set forth in Section 5 and Section 6(e)), any unvested portion of the Option shall continue to vest during the period beginning on the date of such termination of service and ending on the earlier of (i) one year following such termination of service and (ii) the expiration of the Option Term, and any portion so vested shall remain exercisable until the earlier of (i) ninety days following the end of such one year period and (ii) the expiration of the Option Term. Any Vested Portion as of the date of a termination of service contemplated by this Section 6(b) shall remain exercisable until the earlier of (i) ninety days following such termination of service and (ii) the expiration of the Option Term.

Appears in 2 contracts

Samples: Nonqualified Stock Option Award Agreement (Generac Holdings Inc.), Nonqualified Stock Option Award Agreement (Generac Holdings Inc.)

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Termination of Service without Cause. Upon a termination of the Participant’s service Service by the Company without Cause (except as set forth in Section 5 and Section 6(e)), any unvested portion of the Option shall continue to vest during the period beginning on the date of such termination of service Service and ending on the earlier of (i) one year following such termination of service Service and (ii) the expiration of the Option Term, and any portion so vested shall remain exercisable until the earlier of (i) ninety days following the end of such one one-year period and (ii) the expiration of the Option Term. Any Vested Portion as of the date of a termination of service Service contemplated by this Section 6(b) shall remain exercisable until the earlier of (i) ninety (90) days following such termination of service Service and (ii) the expiration of the Option Term.

Appears in 1 contract

Samples: Nonqualified Stock Option Award Agreement (Generac Holdings Inc.)

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Termination of Service without Cause. Upon a termination of the Participant’s service Service by the Company without Cause (except as set forth in Section 5 and Section 6(e)), any unvested portion of the Option shall continue to vest during the period beginning on the date of such termination of service Service and ending on the earlier of (i) one year following such termination of service Service and (ii) the expiration of the Option Term, and any portion so vested shall remain exercisable until the earlier of (i) ninety days following the end of such one year period and (ii) the expiration of the Option Term. Any Vested Portion as of the date of a termination of service Service contemplated by this Section 6(b) shall remain exercisable until the earlier of (i) ninety days following such termination of service Service and (ii) the expiration of the Option Term.

Appears in 1 contract

Samples: Nonqualified Stock Option Award Agreement (Generac Holdings Inc.)

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