Exercise Following Termination of Employment Sample Clauses

Exercise Following Termination of Employment. Subject to paragraph (d) below, if Optionee’s employment terminates for any reason other than Death or Disability, the Option held by Optionee at the time of such termination of employment may be exercised at any time which is both before the time such Option would otherwise expire and within ninety (90) days of the date of such termination or within such extended exercise period as the Committee may determine at the time of such termination, provided that such extended period shall not extend beyond the earlier of (i) the first anniversary of the termination of Service or (ii) the time the option would otherwise expire, but only with respect to the portion of the Option which was exercisable on the date of Optionee’s termination of employment. To the extent such Option was not exercisable on the date of Optionee’s termination of employment, such portion of the Option shall terminate.

Exercise Following Termination of Employment. Subject to Section 2(g), in the event that the Optionee ceases to be employed by the Company, that portion of the Option that is not then exercisable shall immediately terminate and that portion of the Option that is exercisable at the time of the Optionee's termination of employment with the Company shall terminate as follows: (i) If the Optionee's termination of employment is due to his/her death or disability, as determined by the Board, the Option (to the extent exercisable at the time of the Optionee's termination) shall be exercisable for a period of six months following such termination of employment, and shall thereafter terminate; (ii) If the Optionee's termination of employment is by the Company or an Affiliate for Cause (as defined below), the Option shall terminate on the date of the Optionee's termination; (iii) If the Optionee voluntarily terminates his/her employment (other than by retirement), the Option (to the extent exercisable at the time of the Optionee's termination) shall be exercisable for a period of 90 days following such termination of employment, and shall thereafter terminate; and (iv) If the Optionee (1) voluntarily terminates his/her employment, (2) is an "Entitled Retiree" within the meaning of the Company's retiree medical plan as in effect from time to time and (3) executes a post-termination non-solicitation agreement in a form reasonably acceptable to the Company, the Option (to the extent exercisable at the time of the Optionee's termination) shall remain exercisable until the expiration of its term set forth in Section 2(b); and (v) If the Optionee's termination of employment is for any other reason, the Option (to the extent exercisable at the time of the Optionee's termination) shall be exercisable for a period of 90 days following such termination of employment, and shall thereafter terminate.

Exercise Following Termination of Employment. This SAR Award is not transferable by you other than pursuant to Section 4.3 of the Plan, and may be exercised only by you during your lifetime and while you remain employed by the Company or an Affiliate, except as follows:

Exercise Following Termination of Employment. If the Optionee ceases to be an employee of the Corporation, the outstanding portion of the Option shall be exercisable only in accordance with the following provisions: (a) If the Optionee's employment with the Corporation is terminated for "cause" (as defined below), the outstanding portion of the Option, whether or not vested, shall terminate at the time notice of termination is effective. As used herein, "cause" means the Optionee's (i) commission of an action against or in derogation of the interests of the Corporation which constitutes an act of fraud, dishonesty or moral turpitude or which, if proven in a court of law, would constitute a violation of a criminal code or similar law; (ii) material breach of any lawful material duty or obligation imposed upon the Optionee by the Corporation; or (iii) divulging the Corporation's confidential information.

Exercise Following Termination of Employment. (i) If the Optionee ceases to be an employee of the Group on account of death, Disability or Early Retirement (as those terms are defined below), then (A) the Option, to the extent it has not yet become exercisable, shall become exercisable, and (B) the Option shall remain exercisable until the earlier of the first anniversary of the date the Optionee’s employment terminates or the Expiration Date, and shall then expire.

Exercise Following Termination of Employment. In the event the Optionee's Termination of Employment is for Cause, the Option, whether exercisable or nonexercisable, at such time, shall be deemed to have terminated as of the day preceding such Termination of Employment. If such Termination of Employment is for any reason other than cause, any outstanding portion of the Option that has not become exercisable shall terminate on the date of such Termination of Employment, unless provided otherwise by the Board, in its sole discretion. Any outstanding exercisable portion shall be exercisable for the following periods: (A) If the Optionee's Termination of Employment is due to death, Permanent Disability, or Retirement, the Option shall be exercisable by the Optionee (or his personal representative or beneficiary) for the shorter of twelve (12) months following the date of such Termination of Employment or the remainder of its original term. (B) In all other cases, the Option shall be exercisable for the shorter of three months following such Termination of Employment, or the remainder of its original term.

Exercise Following Termination of Employment. If the Optionee ceases to be a member of the Board, all outstanding Options shall be exercisable by the Optionee (or his personal representative or beneficiary) for the remainder of their original term, and shall thereafter terminate and have no further force or effect.

Exercise Following Termination of Employment. Subject to the terms of the Plan and this Award Document, the Grantee’s Options, to the extent vested and exercisable or eligible to vest and become exercisable, shall remain outstanding and exercisable as follows:

Exercise Following Termination of Employment. If the Optionee's -------------------------------------------- employment with the Company terminates for any reason other than death or disability, the Option (to the extent it has not previously been exercised) may be exercised to the extent it has vested pursuant to Section 4 and Exhibit One of this Agreement within forty-five (45) days after the date of such termination. The foregoing notwithstanding, the Option shall cease to be exercisable on the date of such termination if such termination is for cause or if the Optionee upon termination becomes an employee, director or consultant of a person who is in competition with the Company. For this purpose, "cause" shall mean gross misconduct or gross negligence by the Optionee in the performance of his duties for the Company, as determined in good faith by the Company's Board.