Termination of Unvested Options. Xx agrees and acknowledges that any unvested options to purchase shares of common stock of 180 Life held by him as of the Separation Date shall be deemed forfeited and terminated and any vested options held by him as of the Separation Date shall be exercisable, pursuant to their terms, for three (3) months following the Separation Date.
Termination of Unvested Options. Consultant agrees that in consideration for the payments to be made pursuant to section 3.1 of this Agreement, upon the Effective Date that all then current unvested options granted to Consultant and outstanding as of such date shall terminate and Consultant shall have no further rights as to such options. Vested options shall continue to be outstanding and available for exercise in accordance with the terms of the option agreements and applicable plans pursuant to which they were granted; provided, however, that the Company and Consultant agree that there has been no break in Consultant’s continuous status as a service provider between his employment and the commencement of his consulting services and, provided further, that Consultant acknowledges that the incentive stock option status of any outstanding vested options shall terminate on the 90th day after he ceases to be an employee of the Company.
Termination of Unvested Options. The following shall be added as the last sentence of Section 4. All forty thousand (40,000) options that are not vested by the Effective Date, shall terminate on the Effective Date.
Termination of Unvested Options. Unvested Options shall ------------------------------- immediately terminate and be null and void and of no further force and effect upon Termination As A Director.
Termination of Unvested Options. The Option (or portion thereof) that is not vested and exercisable following the Grantee’s termination of employment shall be immediately forfeited and be canceled on the date of such termination of employment.
Termination of Unvested Options. Each unvested Options granted pursuant hereto shall terminate immediately upon the Optionee's termination of employment with the Company, cessation of the Optionee's services as a director or officer of the Company, or termination of the Optionee's contractual relationship with the Company, for any reason whatsoever, as the case may be.
Termination of Unvested Options. All of Employee’s remaining 31,366 unvested Options shall terminate as of the Termination Date in accordance with the Company’s 2010 Equity Incentive Plan, the Option Agreement and the Replacement Option Agreement.
Termination of Unvested Options. Each Unvested Option expires by its terms with respect to any portion of such option that has not vested on or prior to the termination of the holder's status as a "Service Provider" (as such term is defined in the Company's 1996 Stock Plan), and no payment would be owed by the Company with respect to such expired option. ARTICLE IV
Termination of Unvested Options. Except as provided in Paragraph 6, your rights in respect of your outstanding unvested Options shall immediately terminate (and no such Options shall be exercisable) if your Employment with the Company is terminated for any reason. Your outstanding vested Options, if any, shall terminate as set forth in Paragraph 9.
Termination of Unvested Options. The Company shall provide for the cancellation and termination of the Unvested Options as of the Effective Time. Parent shall not assume, convert or substitute any Unvested Options into any other security or cash. At the Effective Time, all Unvested Options will, by virtue of the Merger, and without any further action on the part of any holder thereof, be cancelled and extinguished. The Company shall take all actions necessary in order to effect the provisions of this Section 1.6(b)(iv), including, without limitation, seeking all necessary approvals and providing any notice required under the terms of the applicable stock option plans or agreements.
