Common use of Termination Other than Death or Disability Clause in Contracts

Termination Other than Death or Disability. If, on or after the first anniversary of this Grant, Optionee's employment is terminated for any reason other than death or Disability, Optionee shall have the right, within the earlier of (1) the expiration of the option, or (2) three months after the termination of employment, to exercise any options pursuant to this Grant to the extent that they are exercisable and unexercised on the date of Optionee's termination of employment, subject to any other limitation on exercise contained in this Grant.

Appears in 8 contracts

Samples: Stock Option Agreement (Champion Enterprises Inc), Stock Option Agreement (Champion Enterprises Inc), Stock Option Agreement (Champion Enterprises Inc)

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Termination Other than Death or Disability. If, on or after the first anniversary of this GrantAgreement, Optionee's employment is terminated for any reason other than death or Disability, Optionee shall have the right, within the earlier of (1) the expiration of the option, or (2) three months after the termination of employment, to exercise any options pursuant to this Grant Agreement to the extent that they are exercisable and unexercised on the date of Optionee's termination of employment, subject to any other limitation on exercise contained in this GrantAgreement.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Champion Enterprises Inc), Nonqualified Stock Option Agreement (Champion Enterprises Inc)

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