Common use of TERMINATION UPON SALE OF THE BUSINESS Clause in Contracts

TERMINATION UPON SALE OF THE BUSINESS. Should Employer terminate Executive pursuant to paragraph 8.4 hereof, (i) Executive shall retain the Xxxxxx Options and shall have the irrevocable right to exercise all of the Xxxxxx Options through the final date on which the Xxxxxx Options may be exercised by Executive, as set forth on the written stock option grants evidencing the Xxxxxx Options, (ii) the Company shall pay the aggregate exercise price on all Xxxxxx Options exercised by Executive, and (iii) the Company shall pay all applicable state and federal personal income tax incurred by Executive as a result of the Company paying the exercise price on the Xxxxxx Options exercised by Executive.

TERMINATION UPON SALE OF THE BUSINESS. Should Employer terminate Executive pursuant to paragraph 8.4 hereof, (i) Executive shall retain the Xxxxxx Sunyich Options and shall have the irrevocable right to exercise all of the Xxxxxx Sunyich Options through the final date on which the Xxxxxx Sunyich Options may be exercised by Executive, as set forth on the written stock option grants evidencing the Xxxxxx Sunyich Options, (ii) the Company shall pay the aggregate exercise price on all Xxxxxx Sunyich Options exercised by Executive, and (iii) the Company shall pay all applicable state and federal personal income tax incurred by Executive as a result of the Company paying the exercise price on the Xxxxxx Sunyich Options exercised by Executive.

TERMINATION UPON SALE OF THE BUSINESS. Should Employer terminate Executive pursuant to paragraph 8.4 hereof, (i) Executive shall retain the Xxxxxx Xxxxx Options and shall have the irrevocable right to exercise all of the Xxxxxx Xxxxx Options through the final date on which the Xxxxxx Xxxxx Options may be exercised by Executive, as set forth on the written stock option grants evidencing the Xxxxxx Xxxxx Options, (ii) the Company shall pay the aggregate exercise price on all Xxxxxx Xxxxx Options exercised by Executive, and (iii) the Company shall pay all applicable state and federal personal income tax incurred by Executive as a result of the Company paying the exercise price on the Xxxxxx Xxxxx Options exercised by Executive.

TERMINATION UPON SALE OF THE BUSINESS. Should Employer terminate Executive pursuant to paragraph 8.4 8.5 hereof, (i) Executive shall retain the Xxxxxx Options and shall have the irrevocable right to exercise all of the Xxxxxx Options through the final date on which the Xxxxxx Options may be exercised by Executive, as set forth on the written stock option grants evidencing the Xxxxxx Options, (ii) the Company shall pay the aggregate exercise price on all Xxxxxx Options exercised by Executive, and (iii) the Company shall pay all applicable state and federal personal income tax incurred by Executive as a result of the Company paying the exercise price on the Xxxxxx Options exercised by Executive.