Common use of Termination of Status as an Employee or Consultant Clause in Contracts

Termination of Status as an Employee or Consultant. In the event of termination of Optionee's Continuous Status as an Employee or Consultant for any reason other than death or disability, 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 that Optionee was entitled to exercise it at the date of such termination. 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.

Appears in 13 contracts

Samples: Stock Option Agreement (Accesspoint Corp /Nv/), Stock Option Agreement (Accesspoint Corp /Nv/), Stock Option Agreement (Accesspoint Corp /Nv/)

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Termination of Status as an Employee or Consultant. In the event of termination of Optionee's Continuous Status as an Employee or Consultant for any reason other than death or disability, Optionee may, but only within thirty (3045) 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 that Optionee was entitled to exercise it at the date of such termination. 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.

Appears in 4 contracts

Samples: Stock Option Agreement (Accesspoint Corp /Nv/), Stock Option Agreement (Accesspoint Corp /Nv/), Stock Option Agreement (Accesspoint Corp /Nv/)

Termination of Status as an Employee or Consultant. In If the event of termination of Optionee's Continuous Status Optionee is an --------------------------------------------------- Employee and ceases to serve as an Employee or if Optionee is a Consultant for any reason other than death or disabilityand ceases to serve as a Consultant, then Optionee may, but only within thirty ninety (3090) days after the date of such termination the Optionee ceases to be an Employee or Consultant (but in no event later than as the date of expiration of the term of this Option as set forth in Section 11 belowcase may be), exercise this Option to the extent that the Optionee was entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise this Option at the date of such termination, or if the Optionee does not exercise this Option within the time specified herein, this Option shall terminate.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Vidamed Inc), Nonstatutory Stock Option Agreement (Vidamed Inc)

Termination of Status as an Employee or Consultant. In If the event of termination of Optionee's Continuous Status Optionee ceases to serve as an Employee employee or Consultant for any reason other than death or disabilityconsultant, then the Optionee may, but only within thirty (30) days 12 months or such other shorter period as is specified by the Compensation Committee after the date the Optionee ceases to be an employee or consultant of such termination the Company (but in no event later than the date of expiration of the term of this such Option as set forth in Section 11 belowthis Agreement), exercise this the Option to the extent that the Optionee was entitled to exercise it at the date of such termination. To the extent that the Optionee was not entitled to exercise this the Option at the date of such termination, or if the Optionee does not exercise this such Option (which the Optionee was entitled to exercise) within the time specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Avax Technologies Inc)

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Termination of Status as an Employee or Consultant. In Except as set forth below, in the event of termination of Optionee's Continuous Status ’s status as an Employee or Consultant for any reason other than death or disabilityof the Company, Optionee may, but only within thirty ninety (3090) days after the date of such termination (but in no event later than the date of expiration of the term of this the Option as set forth in Section 11 12 below), exercise this the Option to the extent that Optionee was entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise this the Option at the date of such termination, or if Optionee does not exercise this the Option within the time specified herein, this the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Agreement (Collagenex Pharmaceuticals Inc)

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