Forfeiture of the Option Sample Clauses

Forfeiture of the Option. Notwithstanding any other provision of this Agreement, each Option (including the Vested Option) is immediately forfeited and may no longer be exercised, upon the earlier of the Expiration Date, an occurrence of “Cause” (as defined in Paragraph 6(a)), or expiration of the Exercise Period as provided in Section 3. Except as otherwise provided in Section 2, any Option (or portion thereof) that does not Vest by the date of termination of Employment is forfeited upon termination of Employment.

Forfeiture of the Option. The Option shall be subject to forfeit in accordance with the following provisions: (i) the unvested portion of the Option shall automatically be forfeited upon the date that the Recipient ceases employment with the Company for any reason other than the Recipient’s termination for Cause. (ii) if the Recipient is terminated by the Company for Cause, the Option, whether or not vested, shall automatically and immediately terminate as of the morning of the date of such removal for Cause.

Forfeiture of the Option. The Option shall be subject to forfeit in accordance with the following provisions: (i) the unvested portion of the Option shall automatically be forfeited upon the date that the Optionee ceases to perform services for the Company for any reason other than the Optionee’s termination for Cause. (ii) if the Optionee is terminated by the Company for Cause, the Option, whether or not vested, shall automatically and immediately terminate as of the morning of the date of such removal for Cause. For purposes hereunder, Cause means: (A) any willful, material violation of any law or regulation applicable to the business of the Company; (B) conviction for, or guilty plea to, a felony or a crime involving moral turpitude, or any willful perpetration of a common law fraud; (C) commission of any act of personal dishonesty which involves personal profit in connection with the Company; (D) intentional wrongful disclosure of confidential information of the Company; (E) intentional wrongful engagement in any competitive activity, (F) the willful and continued failure or refusal to perform the material duties required of the Optionee as an employee, officer, director or consultant of the Company (other than as a result of disability); (G) disregard of the policies of the Company so as to cause material loss, damage or injury to the property, reputation or employees of the Company; (H) ongoing alcohol/drug addiction and a failure by the Optionee to successfully complete a recovery program, or (I) any other misconduct by the Optionee which is materially injurious to the financial condition or business reputation of, or is otherwise materially injurious to, the Company.

Forfeiture of the Option. To the extent that a Share Price Target with respect to a Vesting Percentage of the Option is not achieved upon an Attainment Date that occurs during the Performance Period, the portion of the Option for which such Share Price Target was not attained shall be forfeited and cancelled, automatically and without further action or notice, at the end of the Performance Period. For avoidance of doubt, if the lowest Share Price Target set forth in the table above is not achieved upon an Attainment Date that occurs during the Performance Period, the Option will be forfeited and cancelled in its entirety, automatically and without further action or notice, at the end of the Performance Period. Further, except to the extent otherwise provided pursuant to Section 3 of this Vesting Schedule or Section 2(a) of the Option Agreement, this Option will be forfeited and cancelled, automatically and without further action or notice, upon the termination of the Participant’s Continuous Service for any reason prior to the Vesting Date. BK Technologies Corporation ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ West Melbourne, Florida 32904 Attention: Chief Financial Officer

Forfeiture of the Option. The Option shall be forfeited in accordance with the following provisions: (i) The unvested portion of the Option shall automatically be forfeited (A) as of the date that the Optionee resigns from the Board, or (B) upon the date that the Optionee ceases to serve on the Board for any reason other than the Optionee’s removal for “Cause” (as defined in 3(c)(ii) below). (ii) The Option, whether or not vested, shall automatically and immediately terminate as of the morning of the date that the Optionee ceases to serve on the Board due to the Optionee’s removal for “Cause” (such removal for Cause shall not be considered a voluntary resignation). For purposes hereunder, Cause means: (A) the continued failure by the Optionee to substantially perform the services expected of a director (other than any such failure resulting from the Optionee’s incapacity due to physical or mental illness or injury) over a period of not less than [thirty (30)] days after a demand for substantial performance is delivered to the Optionee by the Chairman of the Board the chair of the Audit Committee, which demand identifies the manner in which it is believed that the Optionee has not substantially performed the services expected of the Optionee; (B) the willful misconduct of the Optionee that is materially and demonstrably injurious to the Company; provided that no act or failure to act on the Optionee’s part will be considered willful if done, or omitted to be done, by the Optionee in good faith and with reasonable belief that the action or omission was in the best interest of the Company; (C) the commission by or indictment of the Optionee for a misdemeanor, which constitutes a crime of moral turpitude and gives rise to material harm to the Company; or (D) the commission by or indictment of the Optionee for a felony (including, without limitation, any felony constituting a crime of moral turpitude).