Voluntary Termination of Employment. If the Executive voluntarily ceases to be employed by the Company or Subsidiary, the right to exercise this Option shall terminate three (3) months after such cessation (but in no event after the Expiration Date), provided that this Option shall then be exercisable only to the extent that the Executive was entitled to exercise this option on the date of such cessation.
Appears in 6 contracts
Samples: Non Statutory Stock Option Agreement (Picturetel Corp), Non Statutory Stock Option Agreement (Picturetel Corp), Stock Option Agreement (Picturetel Corp)
Voluntary Termination of Employment. If the Executive voluntarily ceases to be employed by the Company or Subsidiary, the right to exercise this Option shall terminate three (3) months after such cessation (but in no event after the Expiration Date), provided PROVIDED that this Option shall then be exercisable only to the extent that the Executive was entitled to exercise this option on the date of such cessation.
Appears in 1 contract
Samples: Non Statutory Stock Option Agreement (Picturetel Corp)
