Common use of Termination, Rescission and Recapture Clause in Contracts

Termination, Rescission and Recapture. The Holder specifically acknowledges that this Option is subject to the provisions of Section 18 of the Plan, entitled “Termination, Rescission and Recapture,” which can cause the forfeiture of this Option, the rescission of Common Stock acquired upon the exercise of this Option and/or the recapture of proceeds of the sale of such Common Stock. Except as provided in the next sentence, as a condition of the exercise of this Option, the Holder will be required to certify that he or she is in compliance with the terms and conditions of the Plan and, if a Severance has occurred, to state the name and address of his or her then-current employer or any entity for which the Holder performs business services and his or her title, and shall identify any organization or business in which the Holder owns a greater-than-five-percent equity interest. Section 18 of the Plan is inapplicable, and accordingly such certification shall not be required, in connection with any exercise after a Severance of the Holder that occurs within the 18-month period after a Change in Control (as defined in the Plan).

Appears in 12 contracts

Samples: Grant Agreement for a Non Qualified Stock Option (Mattel Inc /De/), Grant Agreement for Employee Stock Option (Mattel Inc /De/), Grant Agreement for Employee Stock Option (Mattel Inc /De/)

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Termination, Rescission and Recapture. The Holder specifically acknowledges that this Option is subject to the provisions of Section 18 of the Plan, entitled “Termination, Rescission and Recapture,” which can cause the forfeiture of this Option, the rescission of Common Stock acquired upon the exercise of this Option and/or the recapture of proceeds of the sale of such Common Stock. Except as provided in the next sentence, as a condition of the exercise of this Option, the Holder will be required to certify that he or she is in compliance with the terms and conditions of the Plan and, if a Severance has occurred, to state the name and address of his or her then-current employer or any entity for which the Holder performs business services and his or her title, and shall identify any organization or business in which the Holder owns a greater-than-five-percent equity interest. Section 18 of the Plan is inapplicable, and accordingly such certification shall not be required, in connection with any exercise after a Severance of the Holder that occurs within the 18-month period after a Change in Control (as defined in the Plan)Control.

Appears in 3 contracts

Samples: Grant Agreement for Employee Stock Option Grant (Mattel Inc /De/), Grant Agreement for Non Qualified Stock Options (Mattel Inc /De/), Grant Agreement for Employee Stock Option (Mattel Inc /De/)

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