Common use of Termination of Service Relationship Clause in Contracts

Termination of Service Relationship. 6.1 If the Optionee’s Service Relationship with the Company and its Subsidiaries terminates for any reason, any then unexercisable portion of this Stock Option shall be forfeited by the Optionee and cancelled by the Company. 6.2 If the Optionee’s Service Relationship with the Company and its Subsidiaries terminates for any reason other than due to the Optionee’s death or Disability, the Optionee’s rights, if any, to exercise any then exercisable portion of this Stock Option shall terminate ninety (90) days after the date of such termination, but not beyond the expiration of the Option Period, and thereafter this Stock Option shall be forfeited by the Optionee and cancelled by the Company. 6.3 If the Optionee’s Service Relationship with the Company and its Subsidiaries is terminated due to the Optionee’s death, Disability, the Optionee (or, in the case of the Optionee’s death, the Optionee’s estate, designated beneficiary or other legal representative, as the case may be, as determined by the Committee) shall have the right, to the extent exercisable immediately prior to any such termination, to exercise this Stock Option at any time within the one (1) year period following such termination, but not beyond the expiration of the Option Period, and thereafter this Stock Option shall be forfeited by the Optionee and cancelled by the Company. 6.4 The Committee may, in its sole discretion, determine that all or any portion of this Stock Option, to the extent exercisable immediately prior to the termination of the Optionee’s Service Relationship with the Company and/or one of its Subsidiaries for any reason, may remain exercisable for an additional specified time period after the relevant period specified above in this Section 6 expires (subject to any other applicable terms and provisions of the Plan and this Agreement), but not beyond the expiration of the Option Period. 6.5 If the Affiliate of the Company engaging the Optionee ceases to be an Affiliate of the Company, that event shall be deemed to constitute a termination of the Optionee’s Service Relationship described in Section 6.2 above (in connection with such termination of employment, the provisions in Section 6.1 would also be applicable).

Appears in 4 contracts

Sources: Non Qualified Stock Option Agreement (Clearwire Corp), Non Qualified Stock Option Agreement (Clearwire Corp), Non Qualified Stock Option Agreement (Clearwire Corp /DE)

Termination of Service Relationship. 6.1 (a) If the Optionee’s Service Relationship with Optionee ceases to be a Consultant to the Company and or any of its Subsidiaries terminates for any reason, any then unexercisable portion of this Stock Option shall be forfeited by the Optionee and cancelled by the Company. 6.2 If the Optionee’s Service Relationship with the Company and its Subsidiaries terminates for any reason other than due to effect a conversion to employee status, and thereafter, if the Optionee’s death or Disability, the Optionee’s rights, if any, to exercise any then exercisable portion of this Stock Option shall terminate ninety (90) days after the date of such termination, but not beyond the expiration of the Option Period, and thereafter this Stock Option shall be forfeited employment by the Optionee and cancelled by the Company. 6.3 If the Optionee’s Service Relationship with the Company and or any of its Subsidiaries is terminated due to the Optionee’s deathfor any reason except as set forth in Paragraphs 3(c), Disability3(d) and 3(e) below, the Optionee (or, in the case any portion of the Optionee’s death, the Optionee’s estate, designated beneficiary or other legal representative, as the case this Share Option outstanding on such date may be, as determined by the Committee) shall have the rightbe exercised, to the extent exercisable immediately prior to any such termination, to exercise this Stock Option at any time within on the one (1) year period following such termination, but not beyond the expiration of the Option Period, and thereafter this Stock Option shall be forfeited by date the Optionee and cancelled by ceased to provide services, for a period of three months after the Company. 6.4 The Committee maydate the Optionee ceased to provide services or until the Expiration Date, in its sole discretion, determine that all or any if earlier. Any portion of this Stock Option, to Share Option that is not exercisable on the extent exercisable immediately prior to the termination of the Optionee’s Service Relationship with the Company and/or one of its Subsidiaries for any reason, may remain exercisable for an additional specified time period after the relevant period specified above in this Section 6 expires (subject to any other applicable terms and provisions of the Plan and this Agreement), but not beyond the expiration of the Option Period. 6.5 If the Affiliate of the Company engaging date the Optionee ceases to be an Affiliate a Consultant (or employee, if converted to employee status) to the Company or any of its Subsidiaries shall terminate immediately and be of no further force or effect. For the avoidance of doubt, if the Optionee ceases to be a Consultant (or employee, if converted to employee status) prior to any scheduled Exercisability Date, the Optionee will not earn or be entitled to any pro-rated vesting for any portion of time before the respective Exercisability Date during which the Optionee was a Consultant (or employee, if converted to employee status), nor will the Optionee be entitled to any compensation for lost vesting. (b) For purposes of this Share Option, the Optionee’s service relationship shall be considered terminated as of the Company, that event shall date the Optionee is no longer actively providing services to the Company or any of its Subsidiaries (regardless of the reason for such termination and whether or not later found to be deemed to constitute a termination invalid or in breach of applicable laws in the jurisdiction where the Optionee is rendering services or the terms of the Optionee’s Service Relationship described in Section 6.2 above service agreement, if any) and such date will not be extended by any notice period (in connection with such termination of employmente.g., the date would not be delayed by any contractual notice period or any period of “garden leave” or similar period mandated under applicable laws in the jurisdiction where the Optionee is rendering services or the terms of the Optionee’s service agreement, if any). The Administrator shall have the exclusive discretion to determine when the Optionee is no longer actively rendering services for purposes of the Share Option (including whether the Optionee may still be considered to be rendering services while on a leave of absence). In the event that the Consultant converts to employee status, then the following additional provisions in Section 6.1 would also be applicable).shall apply:

Appears in 3 contracts

Sources: Global Non Qualified Share Option Agreement (BeOne Medicines Ltd.), Global Non Qualified Share Option Agreement (BeiGene, Ltd.), Global Non Qualified Share Option Agreement (BeiGene, Ltd.)

Termination of Service Relationship. 6.1 If the Optionee’s 's Service Relationship with the Company and its Subsidiaries terminates for any reason, any then unexercisable portion of this the Stock Option Options shall be forfeited by the Optionee and cancelled by the Company. 6.2 If the Optionee’s 's Service Relationship with the Company and its Subsidiaries terminates for any reason other than due to the Optionee’s 's death or Disability, the Optionee’s 's rights, if any, to exercise any then exercisable portion of this the Stock Option Options shall terminate ninety (90) days after the date of such termination, but not beyond the expiration of the Option Period, and thereafter this the Stock Option Options shall be forfeited by the Optionee and cancelled by the Company. 6.3 If the Optionee’s 's Service Relationship with the Company and its Subsidiaries is terminated due to the Optionee’s 's death, or Disability, the Optionee (or, in the case of the Optionee’s 's death, the Optionee’s 's estate, designated beneficiary or other legal representative, as the case may be, as determined by the Committee) shall have the right, to the extent exercisable immediately prior to any such termination, to exercise this the Stock Option Options at any time within the one (1) year period following such termination, but not beyond the expiration of the Option Period, and thereafter this the Stock Option Options shall be forfeited by the Optionee and cancelled by the Company. 6.4 The Committee may, in its sole discretion, determine that all or any portion of this the Stock OptionOptions, to the extent exercisable immediately prior to the termination of the Optionee’s Service Relationship with the Company and/or one of its Subsidiaries for any reason, may remain exercisable for an additional specified time period after the relevant period specified above in this Section 6 expires (subject to any other applicable terms and provisions of the Plan and this Agreement), but not beyond the expiration of the Option Period. 6.5 If the Affiliate of the Company engaging the Optionee ceases to be an Affiliate of the Company, that event shall be deemed to constitute a termination of the Optionee’s Service Relationship described in Section 6.2 above (in connection with such termination of employment, the provisions in Section 6.1 would also be applicable).

Appears in 1 contract

Sources: Stock Option Agreement (Communication Intelligence Corp)

Termination of Service Relationship. 6.1 If the Optionee’s Service Relationship 's service relationship (i.e., employment as an employee or independent contractor) with the Company and its Subsidiaries terminates for any reason, any then unexercisable portion of this the Stock Option Options shall be forfeited by the Optionee and cancelled by the Company. 6.2 If the Optionee’s Service Relationship 's service relationship with the Company and its Subsidiaries terminates for any reason other than due to the Optionee’s 's death or Disability, the Optionee’s 's rights, if any, to exercise any then exercisable portion of this the Stock Option Options shall terminate ninety (90) days after the date of such termination, but not beyond the expiration of the Option Period, and thereafter this the Stock Option Options shall be forfeited by the Optionee and cancelled by the Company. 6.3 If the Optionee’s Service Relationship 's service relationship with the Company and its Subsidiaries is terminated due to the Optionee’s 's death, or Disability, the Optionee (or, in the case of the Optionee’s 's death, the Optionee’s 's estate, designated beneficiary or other legal representative, as the case may be, as determined by the Committee) shall have the right, to the extent exercisable immediately prior to any such termination, to exercise this the Stock Option Options at any time within the one (1) year period following such termination, but not beyond the expiration of the Option Period, and thereafter this the Stock Option Options shall be forfeited by the Optionee and cancelled by the Company. 6.4 The Committee may, in its sole discretion, determine that all or any portion of this the Stock OptionOptions, to the extent exercisable immediately prior to the termination of the Optionee’s Service Relationship service relationship with the Company and/or one of its Subsidiaries for any reason, may remain exercisable for an additional specified time period after the relevant period specified above in this Section 6 expires (subject to any other applicable terms and provisions of the Plan and this Agreement), but not beyond the expiration of the Option Period. 6.5 If the Affiliate of the Company engaging the Optionee ceases to be an Affiliate of the Company, that event shall be deemed to constitute a termination of the Optionee’s Service Relationship service relationship described in Section 6.2 above (in connection with such termination of employment, the provisions in Section 6.1 would also be applicable).

Appears in 1 contract

Sources: Stock Option Agreement (Communication Intelligence Corp)