Early Termination of Option. The Option, to the extent not previously exercised, and all other rights in respect thereof, whether vested and exercisable or not, shall terminate and become null and void prior to the Expiration Date in the event of: • the termination of the Participant’s employment or services as provided in Section 5.6 of the Plan, or • the termination of the Option pursuant to Section 7.3 of the Plan.
Early Termination of Option. Unless otherwise determined by the Board in its sole discretion, the Option will terminate, prior to the expiration of the Term, at the time specified below:
(a) Subject to Section 7(b), if the Grantee’s service as a Nonemployee Director terminates other than (i) by the Company for cause or (ii) by reason of death or Disability, then the Option will terminate at the Close of Business on the first Business Day following the expiration of the one-year period which began on the date of termination of the Grantee’s service. For purposes of this Section 7, “cause” will have the meaning specified in Section 10.2(b) of the Plan.
(b) If the Grantee dies while serving as a Nonemployee Director, or prior to the expiration of a period of time following termination of the Grantee’s service during which the Option remains exercisable as provided in Section 7(a) or Section 7(c), as applicable, the Option will terminate at the Close of Business on the first Business Day following the expiration of the one-year period which began on the date of the Grantee’s death.
(c) Subject to Section 7(b), if the Grantee’s service as a Nonemployee Director terminates by reason of Disability, then the Option will terminate at the Close of Business on the first Business Day following the expiration of the one-year period which began on the date of termination of the Grantee’s service.
(d) If the Grantee’s service as a Nonemployee Director is terminated by the Company for “cause” (as defined in Section 10.2(b) of the Plan), then the Option will terminate immediately upon such termination of the Grantee’s service. In any event in which the Option remains exercisable for a period of time following the date of termination of the Grantee’s service as a Nonemployee Director as provided above, the Option may be exercised during such period of time only to the extent the Option was exercisable as provided in Section 3 above on such date of termination of the Grantee’s service as a Nonemployee Director. Notwithstanding any period of time referenced in this Section 7 or any other provision of this Section 7 that may be construed to the contrary, the Option will in any event terminate upon the expiration of the Term.
Early Termination of Option. The Option, to the extent not previously exercised, and all other rights in respect thereof, whether vested and exercisable or not, shall terminate and become null and void prior to the Expiration Date in the event of: · the termination of the Participant’s employment or services as provided in Section 5.6 of the Plan, or · the termination of the Option pursuant to Section 7.3 of the Plan. Notwithstanding any post-termination exercise period provided for herein or in the Plan, an Option will qualify as an ISO only if it is exercised within the applicable exercise periods for ISOs under, and meets all of the other requirements of, the Code. If the Option is designated as an ISO and is not exercised within the applicable exercise periods for ISOs or does not meet such other requirements, the Option will be rendered a Nonqualified Stock Option.
Early Termination of Option. The Option Period shall terminate on the date of the first to occur of the following:
(a) January 27, 2005:
(b) Disability or Death as provided by this subparagraph (b). This Option shall terminate and no further options shall vest thereafter upon Optionee's death or disability and any vested options at the time of such death or disability shall no longer be exercisable after the expiration of twelve (12) months from the date of death or disability of the Optionee.
(c) If Optionee's services as an employee is terminated for no reason, or for any reason (voluntarily or otherwise) other than disability or death, then no further options shall vest thereafter and this Option shall terminate and no longer be exercisable six months after such termination. If Optionee shall die within six months after termination the remaining vested portion shall terminate on the earlier of the expiration of the Option Period or twelve months after the date of death.
(d) the date immediately preceding the consummation of the dissolution or liquidation of the Company. The Company will use its best efforts to provide written notice to Optionee of such dissolution or liquidation or like transaction, at least (30) days prior to the closing of such transaction to permit Optionee to exercise the Option to the extent vested. In no event will te option be exercisable beyond expiration of the Option Period.
Early Termination of Option. If the employment relationship --------------------------- between the Optionee and the Company is terminated, for any reason, prior to full vesting hereunder, then, subject to the terms of Section 2(c) above, all unvested shares subject to such Options shall terminate upon such termination of employment, and the following rules shall apply to vested, unexercised shares subject to the Option:
Early Termination of Option. If Optionee is an employee of the Company or a parent or a subsidiary of the Company as of the date of the grant of the Option by the Company, the Option and all rights under this Agreement, to the extent such rights shall not have been previously exercised, shall terminate and become immediately null and void on the expiration of ninety (90) days after the Optionee ceases to be an employee (whether by resignation, retirement, dismissal, total disability, death or otherwise) of the Company or a parent or a subsidiary of the Company; provided, however, the Option may thereafter by exercised as follows:
(a) If the termination of employment was due to the Optionee's forced retirement after becoming totally disabled, the Optionee may, at any time or from time to time during a period of one hundred eighty (180) days after such termination of his employment, exercise the Option (except that in no event may the Option be exercised to any extent after the expiration of the term specified in Section 3 hereof) to the extent such Option was exercisable by him on the date of such termination of his employment.
(b) If the termination of employment was due to the death of the Optionee while in the employ of the Company or a parent or a subsidiary of the Company or in the event of his death within ninety (90) days after termination of his employment, then the Option, to the extent that the Optionee was entitled to exercise such Option on the date of his death in the first instance or the date of his termination of employment in the second instance, may be exercised within one (l) year after such death by the Optionee's executors, administrators, heirs or legatees; provided, however, that in no event may the Option be exercised to any extent after the expiration of the term specified in Section 3 hereof.
Early Termination of Option. Participant’s Option will terminate prior to the time period specified in paragraph (a) above under any of the following circumstances:
Early Termination of Option. If an Optionee's term as a director of the Company shall terminate for any reason other than the Optionee's death or disability, the Option, to the extent then exercisable under the terms of this Agreement shall remain exercisable after the termination of the Optionee's director status for a period of three months. If the Optionee's director status is terminated because the Optionee dies or becomes disabled within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), the Option shall become immediately exercisable in full and shall remain exercisable after the termination of his directorship for a period of twelve months. If the Option is not exercised during the applicable period, it shall be deemed to have been forfeited and of no further force or effect.
Early Termination of Option. The Option Period shall terminate on the date of the first to occur of the following:
(a) June 25, 2006:
(b) June 25, 2002, in the event all Option Shares have not vested;
(c) the date immediately preceding the consummation of: (i) dissolution or liquidation of the Company; (ii) merger of the Company into another corporation, or any consolidation, share exchange, combination, reorganization, or like transaction in which the Company is not the survivor; or (iii) sale or transfer (other than as security of the Company's obligations) of at least a majority of the assets of the Company. The Company will use its best efforts to provide written notice to Optionee of such dissolution, liquidation, merger, consolidation, acquisition, separation, reorganization, sale, transfer, or like transaction, at least (30) days prior to the closing of such transaction to permit Optionee to exercise the Option."
Early Termination of Option. Notwithstanding paragraph 1 of this Agreement, the Option shall terminate, expire and become invalid and nonexercisable on the date three months following the date of termination of the Optionee's employment as an employee of the Company or a subsidiary corporation (other than by reason of death or permanent and total disability within the meaning of Section 22(e) 3) of the Internal Revenue Code of 1986, as amended (the "Code").
