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.
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Termination of Status as an Employee. (a) If prior to In the end event of the Option Periodtermination of ------------------------------------ Optionee's Continuous Status as an Employee, the Optionee shall terminate status as an employee for any reasonmay, all outstanding Options that have not vested and become exercisable as of but only within thirty (30) days after the date of such termination shall immediately expire and all outstanding Options vested and exercisable at (but in no event later than the time date of such termination shall remain exercisable by expiration of the Optionee until their expiration term of this Option as set forth in Section 11 below.
(b) In ), exercise this Option to the event the Optionee’s status as an employee terminates on account of a Normal Termination, all outstanding vested and extent 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 . Optionee's employment shall be deemed terminated on such date, if any, as Optionee becomes a part-time employee, as defined in the event of Company's then current employment guidelines. To 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 extent this Option was not 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 termination, or if the Optionee does not exercise this Option within the time specified herein, the Option shall immediately expire.
terminate. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE NOTICE OF GRANT AND SECTION 3 HEREOF IS EARNED ONLY BY CONTINUING EMPLOYMENT AT THE WILL OF THE COMPANY (e) Notwithstanding anything herein to the contraryNOT THROUGH THE ACT OF BEING HIRED, no Option may be exercised beyond the date that is the tenth anniversary BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT, NOR IN THE COMPANY'S STOCK OPTION PLAN WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT BY THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH SUCH OPTIONEE'S RIGHT OR THE COMPANY'S RIGHT TO TERMINATE SUCH OPTIONEE'S EMPLOYMENT AT ANY TIME, WITH OR WITHOUT CAUSE. Optionee acknowledges receipt of a copy of the date hereof.
(f) After Plan and certain related information and represents that Optionee is familiar with the expiration terms and provisions of any exercise period described in these documents, and hereby accepts this paragraph 3, all unexercised Options shall expire together with Option subject to all of those terms and provisions. Optionee has reviewed the Optionee’s rights hereunder.
(g) For purposes Plan and this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement, “Normal Termination” means termination of service as an employee Option and fully understands all provisions of the Company:
Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising under the Plan. Optionee further agrees to notify the Company upon any change in the residence address indicated below. Dated: 3-24-99 -------------- /s/ Xxxx Xxxxxx ----------------------------------- (iOptionee) Upon retirement Xxxx Xxxxxx Residence Address: 00 Xxxxxxxxx Xxxx No. Andover, MA 01845 EXHIBIT B --------- NOTICE OF DISQUALIFYING DISPOSITION To: Applied Micro Circuits Corporation Attn: Stock Option Administrator Subject: Notice of Disqualifying Disposition ----------------------------------- This is official notice that the undersigned disposed of Shares of Applied Micro Circuits Corporation Common Stock acquired by exercise of an incentive stock option, under and pursuant to the retirement plan Company's 1992 Stock Option Plan, as follows: Option Market Total Shares Option Date of Exercise Price (Per Transfer Value (Per Transferred/ Number Grant Date Share) Date Share) Sold -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- I understand that for Federal Income Tax Purposes, AMCC is required to report on a Form W-2 the compensation of employees who dispose of Incentive Stock Options shares within one year from the Date of Exercise, or within two years from the date of grant. Optionee's Signature:________________________________________ Print Name:__________________________________________________ Home Address:________________________________________________ City, State, Zip Code:_______________________________________ Daytime Phone:_______________________________________________ Social Security Number:______________________________________ You must use this form if you have disposed of ISO shares within two years of the Company;
(ii) On account of Disability;
(iii) With the written approval grant date or one year of the Committee; or
(iv) By the Company or a Subsidiary without Cause.exercise date. ================================================================================ Applied Micro Circuits Corporation Notice of Grant of Stock Options ID: 00-0000000 and Option Agreement 0000 Xxxxxxxx Xxxxx Xxx Xxxxx, XX 00000 ================================================================================
Appears in 1 contract
Termination of Status as an Employee. (a) If prior to In the end event of the Option Periodtermination of ------------------------------------ Optionee's Continuous Status as an Employee, the Optionee shall terminate status as an employee for any reasonmay, all outstanding Options that have not vested and become exercisable as of but only within thirty (30) days after the date of such termination shall immediately expire and all outstanding Options vested and exercisable at (but in no event later than the time date of such termination shall remain exercisable by expiration of the Optionee until their expiration term of this Option as set forth in Section 11 below.
(b) In ), exercise this Option to the event the Optionee’s status as an employee terminates on account of a Normal Termination, all outstanding vested and extent 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 . Optionee's employment shall be deemed terminated on such date, if any, as Optionee becomes a part-time employee, as defined in the event of Company's then current employment guidelines. To 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 extent this Option was not 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 termination, or if the Optionee does not exercise this Option within the time specified herein, the Option shall immediately expire.
terminate. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE NOTICE OF GRANT AND SECTION 3 HEREOF IS EARNED ONLY BY CONTINUING EMPLOYMENT AT THE WILL OF THE COMPANY (e) Notwithstanding anything herein to the contraryNOT THROUGH THE ACT OF BEING HIRED, no Option may be exercised beyond the date that is the tenth anniversary BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT NOTHING IN THIS AGREEMENT, NOR IN THE COMPANY'S STOCK OPTION PLAN WHICH IS INCORPORATED HEREIN BY REFERENCE, SHALL CONFER UPON OPTIONEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT BY THE COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH SUCH OPTIONEE'S RIGHT OR THE COMPANY'S RIGHT TO TERMINATE SUCH OPTIONEE'S EMPLOYMENT AT ANY TIME, WITH OR WITHOUT CAUSE. Optionee acknowledges receipt of a copy of the date hereof.
(f) After Plan and certain related information and represents that Optionee is familiar with the expiration terms and provisions of any exercise period described in these documents, and hereby accepts this paragraph 3, all unexercised Options shall expire together with Option subject to all of those terms and provisions. Optionee has reviewed the Optionee’s rights hereunder.
(g) For purposes Plan and this Option in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement, “Normal Termination” means termination of service as an employee Option and fully understands all provisions of the Company:
Option. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising under the Plan. Optionee further agrees to notify the Company upon any change in the residence address indicated below. Dated: 3/18/99 ----------------- /s/ X. X. Xxxxxxxxx --------------------------------------------- (iOptionee) Upon retirement Xxxxxxxxxxx Xxxxxxxxx Residence Address: 00 Xxxxxxxx Xxxxx Xxxxxxx, XX 00000 EXHIBIT B --------- NOTICE OF DISQUALIFYING DISPOSITION To: Applied Micro Circuits Corporation Attn: Stock Option Administrator Subject: Notice of Disqualifying Disposition ----------------------------------- This is official notice that the undersigned disposed of Shares of Applied Micro Circuits Corporation Common Stock acquired by exercise of an incentive stock option, under and pursuant to the retirement plan Company's 1992 Stock Option Plan, as follows: Option Market Total Shares Option Date of Exercise Price (Per Transfer Value (Per Transferred/ Number Grant Date Share) Date Share) Sold -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- I understand that for Federal Income Tax Purposes, AMCC is required to report on a Form W-2 the compensation of employees who dispose of Incentive Stock Options shares within one year from the Date of Exercise, or within two years from the date of grant. Optionee's Signature: /s/ X. X. Xxxxxxxxx -------------------------------- Print Name:___________________________________________ Home Address:_________________________________________ City, State, Zip Code:________________________________ Daytime Phone:________________________________________ Social Security Number:_______________________________ You must use this form if you have disposed of ISO shares within two years of the Company;
(ii) On account of Disability;
(iii) With the written approval grant date or one year of the Committee; or
(iv) By the Company or a Subsidiary without Cause.exercise date. ================================================================================ Applied Micro Circuits Corporation Notice of Grant of Stock Options ID: 94.2586591 and Option Agreement 0000 Xxxxxxxx Xxxxx Xxx Xxxxx, XX 00000 ================================================================================
Appears in 1 contract
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 termination of the Optionee during the Optionee’s term 's Continuous Status as an employee Employee, the vested portion, if any, of this Option shall continue to remain outstanding and the unvested portion of this Option, if any, shall be cancelled. In the event this Option is partially or within three (3) months immediately after the Optionee’s termination of service as an employee wholly vested on account of a Normal Termination, all outstanding vested and exercisable Options as of the date of the termination of Optionee’s death may be exercised, at any time 's Continuous Status as an Employee and is not exercised within the twelve earlier of (12a) the period set forth in Section 12 or (b) six months immediately following the date after termination 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 's Continuous Status as an employee terminates for any reason other than Employee (or within eighteen months in the case of termination as a result of Optionee's death or on account Permanent Disability), this Option shall terminate (it being understood that any exercise after three months following termination of Optionee's Continuous Status as an Employee (or one year in the case of termination as a Normal Terminationresult of Optionee's death or Permanent Disability) will cause this Option to be treated as a non-qualified option rather than as an incentive stock option). Notwithstanding the foregoing, all outstanding vested and exercisable Options nothing herein shall prevent the Company from entering into an agreement with an Employee upon the termination of his/her Continuous Status as of the date of such termination shall immediately expire.
(e) Notwithstanding anything herein an Employee to repurchase any Shares issued to the contrary, no Option may be exercised beyond Employee prior to such date upon the date that exercise of options granted under the Plan. Permanent Disability exists if an individual 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 unable to perform his ordinary and customary duties as an employee of the Company:
(i) Upon retirement pursuant Company by reason of any medically determinable physical or mental impairment which can be expected to the retirement plan result in death or which has lasted or can be expected to last for a continuous period 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 Causenot less than 12 months.
Appears in 1 contract
Termination of Status as an Employee. (a) If prior to the end of the Option PeriodOptionee's Continuous Employment terminates for any reason other than death, Disability, or Termination For Cause, the Optionee shall terminate status as an employee for have the right to exercise the Option at any reason, all outstanding Options that have not vested and become exercisable as of time within 30 days after the date of such termination shall immediately expire and all outstanding Options vested and exercisable to the extent that the Optionee was entitled to exercise the Option at the time date of such termination shall remain exercisable (subject to any earlier termination of the Option as provided by the Optionee until their expiration as set forth belowits terms).
(b) In the event If the Optionee’s status as an employee 's Continuous Employment terminates on account of a Normal Termination, all outstanding vested and exercisable Options as due to the death or Disability of the date of such termination Optionee, the Option may be exercised at any time within the three (3) months immediately following 180 days after the date of such termination.
(c) In , 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 case of death, by the Optionee’s 's estate or by any a person who acquired the right to exercise the Option by bequest or inheritance; , or, in the case of Disability, by the Optionee (subject to any earlier termination of the Option as provided by its terms).
(c) If the Optionee's Continuous Employment terminates due to Termination For Cause, as determined in the Plan, Optionee's right to exercise any Option shall immediately cease upon such Termination For Cause.
(d) In Notwithstanding the event foregoing regarding 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 exercise of the date Option after the termination of such termination Continuous Employment, the Option shall immediately expire.
(e) Notwithstanding anything herein to not be exercisable after the contraryexpiration of its term, no as set forth in Section 2 herein, and the Option may be exercised beyond only to the extent the Optionee was entitled to exercise it on the date Optionee's Continuous Employment with the Company terminated. To the extent that is the tenth anniversary of Optionee was not entitled to 3 exercise the Option at the date hereof.
(f) After the expiration of any exercise period described in this paragraph 3termination, 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 or to the retirement plan of extent the Company;
(ii) On account of Disability;
(iii) With Option is not exercised within the written approval of time specified herein, the Committee; or
(iv) By the Company or a Subsidiary without CauseOption shall terminate.
Appears in 1 contract
Samples: Nonstatutory Employee Stock Option Agreement (Futech Interactive Products Inc)
