Term of the Options Clause Samples
Term of the Options. Subject to the earlier termination provisions set forth in the Stock Option Agreement, the Option shall have a term of ten (10) years from the date hereof. The granting of the Options shall be effective only upon delivery of a fully executed Stock Option Agreement.
Term of the Options. The Option shall remain exercisable as to Optioned Shares for five (5) years from the date of vesting of such Optioned Shares. If the Optionee is terminated as an employee without cause (as defined in any employment agreement with the Corporation applicable to Optionee) then all of Optionee's unvested Options shall immediately vest and become exercisable and the term of any such Options shall be extended to the fifth anniversary of Optionee's employment termination date. Should the Optionee’s service be terminated for cause (as defined in any employment agreement with the Corporation applicable to Optionee), then in any such event this Option shall terminate immediately and with respect to all unvested shares of Common Stock. In the event Optionee is unable to continue as an employee as a result of his total and permanent disability (as defined in Section 22(e)(3) of the Code), all of Optionee's unvested Options shall immediately vest and become exercisable and the term of any such Options shall be extended to the fifth anniversary of Optionee's employment termination date. During the term of this Option if the Optionee was at the time of his death an employee, all of the Optionee's unvested Options shall immediately vest and become exercisable and the term of any such Options shall be extended to the fifth anniversary of the Optionee's date of death and the Option may be exercised by the Optionee’s estate or by a person who acquired the right to exercise the Option by bequest or inheritance. If during the term of this Agreement and while the Optionee remains an employee of the Corporation, the Corporation shall be subject to a Change in Control, then in such case all of the Optionee's unvested Options shall immediately vest and become exercisable and the term of any such Options shall be extended to the fifth anniversary of the date of such Change in Control.
Term of the Options. The Options shall remain exercisable for a period continuing until May 31, 2011.
Term of the Options. The term of each option shall be determined by the Committee at the time the option is granted; provided, however, that no option shall be exercisable after the expiration of ten (10) years from the date of grant and all options shall be subject to earlier termination as hereinafter provided.
Term of the Options. Unless sooner terminated in accordance herewith or in the Plan, the Options shall expire on the tenth anniversary of the Grant Date.
Term of the Options. The Options shall remain exercisable for a period continuing until September 23, 2012..
Term of the Options. Purchaser may exercise the Parcel A Option at any time after May 1, 2019, if the Developer has not commenced Site Work for the Parcel A Facility by such date or does not complete construction of the Parcel A Facility in accordance with the requirements of the Development Agreement. The Parcel A Option, which is separate and distinct from the Parcel B Option, shall expire upon the earlier of (i) 90 days after May 1, 2020, or (ii) Substantial Completion of the Parcel A Facility. Purchaser may exercise the Parcel B Option, which is separate and distinct from the Parcel A Option, at any time after September 1, 2017, if the Developer has not commenced Site Work for the Parcel B Facility by such date or does not complete construction of the Parcel B Facility in accordance with the requirements of the Development Agreement. The Parcel B Option shall expire upon the earlier of (i) 90 days after April 1, 2019, or (ii) Substantial Completion of the Parcel B Facility. At any time after either the Parcel A Option or Parcel B Option (individually each, an “Option”, and collectively, the “Options”) is exercisable, Purchaser may provide written notice to the Seller that it is exercising the applicable Option (“Exercise Notice”). Closing shall occur within thirty (30) days of the date of said Exercise Notice.
Term of the Options. Option I shall be exercisable from the date of the "Closing" under the terms of, and as defined in, that certain Stock Purchase Agreement (the "SFNB Stock Purchase Agreement") among Royal Bank of Canada, Purchaser, SFNB and upon organization, Holdings, dated as of even date herewith ("the SFNB Closing Date") until the close of business on the first business day which is 90 days after the SFNB Closing Date. Option II shall be exercisable from the SFNB Closing Date until the close of business on the first business day which is 270 days after the SFNB Closing Date. Option III shall be exercisable from the SFNB Closing Date until the close of business on the first business day which is 450 days after the SFNB Closing Date. Option IV shall be exercisable from the SFNB Closing Date until the close of business on the first business day which is 630 days after the SFNB Closing Date. Notwithstanding anything to the contrary provided herein, the Options shall terminate and be of no further effect upon termination of the Stock Purchase Agreement, other than by reason of Closing thereunder.