Removal from Service. In the event of the Optionee's resignation or removal as a director of the Corporation for any reason, any portion of the Option that has not become vested and exercisable shall immediately be forfeited, and the Option, to the extent it has become vested and exercisable, shall expire as set forth in Section 5 of this Agreement.
Appears in 5 contracts
Sources: Nonstatutory Stock Option Agreement (China Recycling Energy Corp), Nonstatutory Stock Option Agreement (China Recycling Energy Corp), Nonstatutory Stock Option Agreement (China Recycling Energy Corp)