Vested Options. Except as otherwise provided in this Article 7, to the extent that a Transferred Individual is holding an Award consisting of a Xxxx-XxXxx Option that is vested and outstanding as of the Close of the Distribution Date, that Transferred Individual shall be treated as experiencing a separation from service from, or otherwise terminating employment with, Xxxx-XxXxx. Any such Option shall expire unless it is exercised within the time provided in the Option itself.
Appears in 4 contracts
Samples: Employee Benefits Agreement, Employee Benefits Agreement (Tronox Inc), Employee Benefits Agreement (Kerr McGee Corp /De)
