Termination of Status as an Employee. If the Optionee ceases to serve as an employee, he may, but only within thirty (30) days after the date he ceased to be an Employee of the Company, exercise this Option to the extent that he was entitled to exercise it at the date of such termination. To the extent that he was not entitled to exercise this option at the date of such termination, or if he does not exercise this Option within the time specified herein, the Option shall terminate.
Termination of Status as an Employee. If the Optionee ceases to serve as an Employee for any reason other than death or for Cause (as defined in the Plan) and thereby terminates his status as an Employee, the Optionee shall have the right to exercise this Option at any time within ninety (90) days following the date of such termination, to the extent that the Optionee was entitled to exercise the Option at the date of such termination, but in no event after the expiration of the term of the Option set forth in Section 2 hereof. If the Optionee ceases to serve as an Employee due to death, this Option may be exercised at any time within one (1) year following the date of death by the Optionee's executor or administrator or the person or persons who shall have acquired the Option by bequest or inheritance but only to the extent the Optionee was entitled to exercise this option at the date of death. To the extent that the Optionee was not entitled to exercise the Option at the date of termination or death, or to the extent the Option is not exercised within the time specified herein, this Option shall terminate. Notwithstanding the foregoing, this Option shall not be exercisable after the expiration of the term set forth in Section 2 hereof. If the Optionee ceases to serve as an Employee due to termination of his employment by the Company for cause (as defined in the Plan), this Option shall cease to be exercisable ten (10) days following the date the notice of such termination is delivered to the Optionee.
Termination of Status as an Employee. If the Optionee ceases to serve as an Employee for any reason other than death or permanent and total disability (within the meaning of Section 22(e)(3) of the Code) and thereby terminates his Continuous Status as an Employee, the Optionee shall have the right to exercise this Option at any time within three months after the date of such termination to the extent that the Optionee was entitled to exercise this Option at the date of such termination. If the Optionee ceases to serve as an Employee due to death or permanent and total disability (within the meaning of Section 22(e)(3) of the Code), this Option may be exercised at any time within six months after the date of death or termination of employment due to disability, in the case of death, by the Optionee's estate or by a person who acquired the right to exercise this Option by bequest or inheritance, or, in the case of disability, by the Optionee, but in any case only to the extent the Optionee was entitled to exercise this Option at the date of such termination. To the extent that the Optionee was not entitled to exercise this Option at the date of termination, or to the extent this Option is not exercised within the time specified herein, this Option shall terminate. Notwithstanding the foregoing, this Option shall not be exercisable after the expiration of the term set forth in Section 3 hereof.
Termination of Status as an Employee. In the event of termination of Optionee’s “Continuous Status as an Employee” for any reason other than death or disability as provided in Sections 5 or 6 of this Agreement, Optionee may exercise this Option to the extent exercisable at the date of such termination until the earlier of (i) the date three (3) months after the date of such termination or (ii) the date of expiration of the term of this Option as set forth in Section 8 below. To the extent that Optionee was not entitled to exercise this Option at the date of such termination, or if Optionee does not exercise this Option within the time specified herein, this Option shall terminate.
Termination of Status as an Employee. In the event of termination of Optionee's Continuous Status as an Employee, the Optionee may, but only within thirty (30) days after the date of such termination (but in no event later than the date of expiration of the term of this Option as set forth in Section 11 below), exercise this Option to the extent exercisable at the date of such termination. To the extent this Option was not exercisable at the date of such termination, or if the Optionee does not exercise this Option within the time specified herein, the Option shall terminate.
Termination of Status as an Employee. If Optionee's employment is terminated by the Company for Cause at any time, Options granted hereunder (both unvested Options and vested but unexercised Options) shall immediately terminate. If Optionee's employment is terminated by the Company at any time for a reason other than for Cause, Options granted herewith (both invested Options and vested, but unexercised Options) shall be immediately exercisable for a period of three (3) months from the date of termination of employment. If Optionee voluntarily terminates his employment with the Company at any time, unvested Options shall immediately terminate and vested Options shall be immediately exercisable for a period of three (3) months from the date of termination of employment. For purposes of this Agreement, a termination shall be for Cause only if the Board of Directors of the Company shall determine that any one or more of the following has occurred:
(i) the commission by the Optionee of a felony, fraud, embezzlement or an act of serious criminal moral turpitude; or
(ii) the Optionee shall have committed a material breach of any one or more of the management policies and directives of the Company and such breach shall have continued in effect for a period of thirty (30) days after written notice to the Optionee specifying such breach in reasonable detail.
Termination of Status as an Employee. (a) If prior to the end of the Option Period, the Optionee shall terminate status as an employee for any reason, all outstanding Options that have not vested and become exercisable as of the date of such termination shall immediately expire and all outstanding Options vested and exercisable at the time of such termination shall remain exercisable by the Optionee until their expiration as set forth below.
(b) In the event the Optionee’s status as an employee terminates on account of a Normal Termination, all outstanding vested and exercisable Options as of the date of such termination may be exercised at any time within the three (3) months immediately following the date of such termination.
(c) In the event of the death of the Optionee during the Optionee’s term as an employee or within three (3) months immediately after the Optionee’s termination of service as an employee on account of a Normal Termination, all outstanding vested and exercisable Options as of the date of the Optionee’s death may be exercised, at any time within the twelve (12) months immediately following the date of death, by the Optionee’s estate or by any person who acquired the right to exercise the Option by bequest or inheritance; or
(d) In the event the Optionee’s status as an employee terminates for any reason other than death or on account of a Normal Termination, all outstanding vested and exercisable Options as of the date of such termination shall immediately expire.
(e) Notwithstanding anything herein to the contrary, no Option may be exercised beyond the date that is the tenth anniversary of the date hereof.
(f) After the expiration of any exercise period described in this paragraph 3, all unexercised Options shall expire together with all of the Optionee’s rights hereunder.
(g) For purposes of this Agreement, “Normal Termination” means termination of service as an employee of the Company:
(i) Upon retirement pursuant to the retirement plan of the Company;
(ii) On account of Disability;
(iii) With the written approval of the Committee; or
(iv) By the Company or a Subsidiary without Cause.
Termination of Status as an Employee. (i) Termination at Age 62 or Older Other than due to Cause,
Termination of Status as an Employee. In the event of termination of Optionee's Continuous Status as an employee, Optionee shall have only three months after such termination date (but not later than expiration of the option term) to exercise this Option and then the exercise can be only to the extent that Optionee was entitled to exercise it at the date of such termination (i.e. vested Options). To the extent that Optionee was not entitled to exercise this Option at the date of such termination, this Option shall terminate as to those "non-vested" Shares and the non-vested Shares, if any, shall be forfeited to the Plan. To the extent Optionee does not exercise this Option timely, then any unexercised option shares, if any, shall be forfeited to the Plan.
Termination of Status as an Employee. 8.1 If the Optionee's employment by the Company terminates for any reason other than death, Disability, or termination by the Company for Cause (as defined in the Employment Agreement between the Company and the Optionee dated January 15, 2000 (the "Employment Agreement"), the Optionee may exercise this Option to the extent that the Optionee was entitled to exercise this Option at the date of such termination for a period equal to the lesser of: (i) thirty (30) days, or (ii) the remaining term of the Option, as specified in Section 11.
8.2 If the Optionee employment's by the Company terminates because of his death, Disability, or termination by the Company for Cause, then the subsequent exercisiability of the Option will be governed by the terms of the Plan; provided, however, that "Cause" will have the meaning defined in the Employment Agreement rather than the meaning defined in the Plan.
