Termination of Employment and Options Sample Clauses

The 'Termination of Employment and Options' clause defines how an employee's stock options are affected when their employment ends. Typically, this clause outlines whether unvested options are forfeited and how long the employee has to exercise vested options after leaving the company, such as a 90-day post-termination exercise window. Its core function is to provide clarity and set expectations for both the employer and employee regarding equity rights upon termination, thereby reducing disputes and ensuring fair treatment.
Termination of Employment and Options. Vested Options shall terminate, to the extent not previously exercised, upon the occurrence of the first of the following events:
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Termination of Employment and Options. Vested Options shall terminate, to the extent not previously exercised, upon the occurrence of the first of the following events: (a) Expiration. Five (5) years from the Date of Grant.
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Termination of Employment and Options. The Options shall terminate in accordance with Section 5.1(g) of the Plan.
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Termination of Employment and Options. Options which have vested in accordance with Section 3 of this Agreement shall terminate, to the extent not previously exercised, upon the occurrence of the first of the following events:
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Termination of Employment and Options. 2.1 The Employee acknowledges and agrees that this Agreement shall serve to terminate his employment and that this Agreement sets forth all the compensation that is payable to him, effective as of the Resignation Date. The Employee will continue to receive regular salary pursuant to the Company’s normal payroll practices through the Resignation Date. 2.2 The Employee agrees that he will have until August 15, 2015 (“Expiration Date”), to exercise any vested options (“Vested Options”) that have been granted to him by the Company during the term of his employment with the Company. In addition, the Company will accelerate the vesting of ten million (10,000,000) options, with an exercise price of $0.07, granted to the Employee pursuant to his employment agreement. The Employee acknowledges and agrees that the only Vested Options that he owns as of the date of this Agreement are the above-mentioned options to purchase ten million (10,000,000) shares of the Company’s common stock at an exercise price of $0.07 per share. Such option may be exercised on a cashless-basis after 1 year if there is not an effective registration statement covering such options.
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Termination of Employment and Options. Vested Options shall terminate, to the extent not previously exercised, upon the occurrence of the first of the following events: Expiration: June 30, 2011; except, that the expiration date of any Incentive Stock Option granted to a greater than 10 percent (> 10%) shareholder of the Company shall not be later than five (5) years from the Date of Grant.
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Termination of Employment and Options. 2.1 Employee acknowledges and agrees that this Agreement shall serve to terminate his employment and that this Agreement sets forth all the compensation that is payable to him, effective as of the Resignation Date. The Employee will continue to receive regular salary pursuant to the Company's normal payroll practices through the Resignation Date. 2.2 The Company agrees, and the Employee acknowledges, that any and all unvested options (“Unvested Options”) that have been granted to him by the Company during the term of his employment with the Company will immediately vest on the Resignation Date. The Employee agrees that he will have until March 31, 2007 (“Expiration Date”), to exercise any vested options (“Vested Options”), and any Unvested Options that immediately vest on the Resignation Date, that have been granted to him by the Company during the term of his employment with the Company. The Employee acknowledges and agrees that the only Unvested Options that he owns as of the date of this Agreement are as follows: (i) options to purchase 53,333 shares of the Company’s common stock at an exercise price of $0.60 per share, (ii) options to purchase 120,000 shares at an exercise price of $0.33 per share. The Employee acknowledges and agrees that the only Vested Options that he owns as of the date of this Agreement are as follows: (i) options to purchase 52,800 shares of the Company’s common stock at an exercise price of $1.97 per share, (ii) options to purchase 26,667 shares at an exercise price of $0.60 per share. The Employee agrees that any of the Vested Options, and any Unvested Options that immediately vest on the Resignation Date, which the Employee has not exercised by the Expiration Date will be deemed to be cancelled, null and void at the end of the business day on the Expiration Date. 2.3 The Employee agrees that he will be bound by the non-solicitation provisions set forth in Section 3 of the Intellectual Property Right and Confidentiality Agreement for a period of six months after the date of this Agreement.
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Related to Termination of Employment and Options

  • Termination of Employment Agreement Employee and Company hereby acknowledge and agree that the Employment Agreement is hereby terminated and of no further force and effect and except as otherwise set forth herein, Employee shall not be entitled to any payment in the nature of severance, Change of Control or termination pay from the Company, and that the terms set forth herein is in full satisfaction of all obligations owed to Employee.

  • Termination of Employment Executive's employment hereunder may be terminated under the following circumstances:

  • Termination of Employees Agent may in its discretion stop using any Retained Employee at any time during the Sale, subject to the conditions provided for herein. In the event that Agent desires to cease using any Retained Employee, Agent shall notify Merchant at least seven (7) days prior thereto, so that Merchant may coordinate the termination of such employee; provided, however, that, in the event that Agent determines to cease using an employee “for cause” (which shall consist of dishonesty, fraud or breach of employee duties), the seven (7) day notice period shall not apply, provided further, however, that Agent shall immediately notify Merchant of the basis for such “cause” so that Merchant can arrange for termination of such employee. From and after the date of this Agreement and until the Sale Termination Date, Merchant shall not transfer or dismiss Retained Employees except “for cause” without Agent’s prior consent. Notwithstanding the foregoing, Agent shall not have the right to terminate the actual employment of any Retained Employee, but rather may only cease using such employee in the Sale and paying any Expenses with respect to such employee.

  • Termination of Employment Severance Your immediate supervisor or the Company's Board of Directors may terminate your employment, with or without cause, at any time by giving you written notice of your termination, such termination of employment to be effective on the date specified in the notice. You also may terminate your employment with the Company at any time. The effective date of termination (the "Effective Date") shall be the last day of your employment with the Company, as specified in a notice by you, or if you are terminated by the Company, the date that is specified by the Company in its notice to you. The following subsections set forth your rights to severance in the event of the termination of your employment in certain circumstances by either the Company or you. Section 5 also sets forth certain restrictions on your activities if your employment with the Company is terminated, whether by the Company or you. That section shall survive any termination of this Agreement or your employment with the Company.

  • Other Termination of Employment In the event of your voluntary termination (other than a Retirement subject to Section 2(c) or a Qualifying Termination subject to Section 2(f)), or termination by the Company or a subsidiary of the Company for misconduct or other conduct deemed by the Company to be detrimental to the interests of the Company or a subsidiary of the Company, you shall forfeit all unvested RSUs on the date of termination.