Common use of Terminations of Employment Clause in Contracts

Terminations of Employment. (a) If the Employee incurs a Termination of Employment due to Disability, the Stock Option, to the extent outstanding at the time of such Termination of Employment, shall become immediately vested and fully exercisable and may be exercised by the Employee at any time prior to the first to occur of (i) one year after such Termination of Employment or (ii) the expiration date of the Stock Option, and shall thereafter expire.

Appears in 14 contracts

Samples: Nonqualified Stock Option Agreement (Joy Global Inc), Nonqualified Stock Option Agreement (Joy Global Inc), Nonqualified Stock Option Agreement (Joy Global Inc)

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Terminations of Employment. (a) If the Employee incurs a Termination of Employment due to Disability, the Stock Option, to the extent outstanding at the time of such Termination termination of Employmentemployment, shall become immediately vested and fully exercisable and may be exercised by the Employee at any time prior to the first to occur of (i) one year after such Termination termination of Employment employment or (ii) the expiration date of the Stock Option, and shall thereafter expire.

Appears in 3 contracts

Samples: Stock Option Agreement (Joy Global Inc), Stock Option Agreement (Joy Global Inc), Stock Option Agreement (Joy Global Inc)

Terminations of Employment. (a) If the Employee Director incurs a Termination of Employment due to Disability, the Stock Option, to the extent outstanding at the time of such Termination of Employment, shall become immediately vested and fully exercisable and Option may be exercised by the Employee Director at any time prior to the first to occur of (i) one year after such Termination the date of Employment termination of employment or (ii) the expiration date of the Stock Option, and shall thereafter expire.

Appears in 2 contracts

Samples: Stock Option Agreement (Joy Global Inc), Stock Option Agreement (Joy Global Inc)

Terminations of Employment. (a) If the Employee incurs a Termination of Employment due to Disability, the Stock Option, to the extent outstanding at the time of such Termination of Employment, shall become immediately vested and fully exercisable and Option may be exercised by the Employee at any time prior to the first to occur of (i) one year after such Termination the date of Employment termination of employment or (ii) the expiration date of the Stock Option, and shall thereafter expire.

Appears in 1 contract

Samples: Stock Option Agreement (Joy Global Inc)

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Terminations of Employment. (a) If the Employee incurs a Termination of Employment due to Disabilitydisability, the Stock Option, to the extent outstanding at the time of such Termination termination of Employmentemployment, shall become immediately vested and fully exercisable and may be exercised by the Employee at any time prior to the first to occur of (i) one year after such Termination termination of Employment employment or (ii) the expiration date of the Stock Option, and shall thereafter expire.

Appears in 1 contract

Samples: Stock Option Agreement (Joy Global Inc)

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