Termination Other Than for Cause. If the Optionee ceases to maintain a Business Relationship with the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after the passage of three months from the termination of the Optionee’s Business Relationship, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship of the Optionee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. This option shall not be affected by any change in the type of Business Relationship the Optionee has within or among the Company and its Subsidiaries so long as the Optionee continuously maintains a Business Relationship with the Company or any Subsidiary.
Appears in 3 contracts
Sources: Non Qualified Stock Option Agreement, Non Qualified Stock Option Agreement (Red Hat Inc), Non Qualified Stock Option Agreement (Red Hat Inc)
Termination Other Than for Cause. If the Optionee ceases to maintain a Participant’s Business Relationship with the CompanyCompany is terminated, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) exercised after the passage of three months from the termination of date the OptioneeParticipant’s Business RelationshipRelationship with the Company terminates, but in no event later than the scheduled expiration date. For purposes hereof, a Participant’s Business Relationship with the Company shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Participant’s Business Relationship of with the Optionee Company after the approved period of absence; in . In the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. This option shall not be affected by any change in the type of Business Relationship the Optionee has within or among the Company and its Subsidiaries so long as the Optionee Participant continuously maintains a his Business Relationship with the Company or any Subsidiary.
Appears in 3 contracts
Sources: Non Qualified Stock Option Agreement (Citrix Systems Inc), Non Qualified Stock Option Agreement (Citrix Systems Inc), Non Qualified Stock Option Agreement (Citrix Systems Inc)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) exercised after the passage of three months from the termination Employee's last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s 's written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 3 contracts
Sources: Incentive Stock Option Agreement (Smarterkids Com Inc), Stock Option Agreement (Matrixone Inc), Incentive Stock Option Agreement (Learningstar Inc)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) exercised after the passage of three months from the termination Employee’s last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 3 contracts
Sources: Incentive Stock Option Agreement (Rib X Pharmaceuticals Inc), Incentive Stock Option Agreement (Citrix Systems Inc), Incentive Stock Option Agreement (Citrix Systems Inc)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) exercised after the passage of three months 90 days from the termination Employee’s last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 2 contracts
Sources: Incentive Stock Option Agreement (BG Medicine, Inc.), Incentive Stock Option Agreement (BG Medicine, Inc.)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments vesting of Unvested Shares shall immediately cease, this option shall become exercisable, may be exercised only as to any Option Shares that are Vested Shares on the date of termination of the Employee’s employment and this option shall expire (may no longer be exercised) exercised only on or prior to the date which is three months after the passage date of three months from the termination of the OptioneeEmployee’s Business Relationship, employment (but in no event not later than the scheduled expiration date). In the event of termination of employment, the Repurchase Option described in Section 6 shall also be applicable. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 2 contracts
Sources: Incentive Stock Option Agreement (SALARY.COM, Inc), Stock Option Agreement (SALARY.COM, Inc)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments vesting of Unvested Shares shall immediately cease, this option shall become exercisable, may be exercised only as to any Option Shares that are Vested Shares on the date of termination of the Employee’s employment and this option shall expire (may no longer be exercised) exercised only on or prior to the date which is three months after the passage date of three months from the termination of the OptioneeEmployee’s Business Relationship, employment (but in no event not later than the scheduled expiration date) . In the event of termination of employment, the Repurchase Option described in Section 6 shall also be applicable. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 2 contracts
Sources: Employee Non Qualified Stock Option Agreement, Employee Non Qualified Stock Option Agreement (Rib X Pharmaceuticals Inc)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after the passage of three months from the termination Employee’s last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship hereof employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, absence vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any SubsidiarySubsidiary (as defined in the Plan).
Appears in 2 contracts
Sources: Incentive Stock Option Agreement, Incentive Stock Option Agreement (Red Hat Inc)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after the passage of three months from the termination Employee’s last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consuling agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any SubsidiarySubsidiary (as defined in the Plan).
Appears in 1 contract
Sources: Stock Option Agreement (Red Hat Inc)
Termination Other Than for Cause. If the Optionee ceases to maintain be a Business Relationship with employee of the Company, other than by reason of death or disability as defined in Section 5 hereof or termination for For Cause as defined in Section 4(c)11 of the Plan, no further installments this option may thereafter be exercised, to the extent it was vested and exercisable on the date of such termination, until the occurrence of the earlier of either (i) thirty (30) days following such termination; or (ii) expiration of the this option in accordance with Section 7(c) of the Plan. Any portion of this option that is not vested on the Optionee’s last day of service shall become exercisable, immediately expire and this option be null and void and shall expire (may no longer be exercisable or exercised) after the passage of three months from the termination of the Optionee’s Business Relationship, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship service shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship service of the Optionee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, service shall include a consulting arrangement between the Optionee and the Company that immediately follows termination of service, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has Service within or among the Company and its Subsidiaries so long as the Optionee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 1 contract
Sources: Nonqualified Stock Option Agreement (Presstek Inc /De/)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after the passage of three months from the termination Employee’s last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration dateExpiration Date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 1 contract
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) exercised after the passage of three months thirty days from the termination Employee’s last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 1 contract
Sources: Incentive Stock Option Agreement (Homeowners Choice, Inc.)
Termination Other Than for Cause. If the Optionee ceases to maintain a Optionee's Business Relationship with the CompanyCompany and all Related Corporations is terminated, other than by reason of death death, disability or disability dissolution as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after , to the passage extent otherwise exercisable on the last day of the Business Relationship, for a period of three months from the termination of date the Optionee’s Business RelationshipRelationship ceases, but in no event later than the scheduled expiration date. In such a case, the Optionee's only rights hereunder shall be those which are properly exercised before the termination of this option. For purposes hereof, a the Business Relationship shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the a Business Relationship of with the Optionee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s 's written approval of the leave of absence. This option shall not be affected by any change in the type of Business Relationship the Optionee has within or among the Company and its Subsidiaries so long as the Optionee continuously maintains a Business Relationship with the Company or any Subsidiary.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Equallogic Inc)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after the passage of three months from the termination Employee’s last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 1 contract
Sources: Incentive Stock Option Agreement (Netscout Systems Inc)
Termination Other Than for Cause. If the Optionee ceases to maintain be engaged in a Business Relationship business relationship with the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) exercised after the passage of three months from the termination Optionee's last day of the Optionee’s Business Relationshipbusiness relationship, but in no event later than the scheduled expiration date. For purposes hereof, if the optionee is a Business Relationship natural person, the business relationship shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship of business relationship with the Optionee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s 's written approval of the leave of absence. For purposes hereof, business relationship shall include a consulting arrangement between the Optionee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee continuously maintains a Business Relationship business relationship with the Company or any Subsidiary.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Transwitch Corp /De)
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments any portion of this option that is not exercisable on the date of termination shall become exercisableterminate immediately and be of no further force or effect. This option may be exercised only to the extent exercisable on the date of termination of the Employee's employment, and this option shall expire may be exercised only on or prior to the earlier of the date that (may no longer be exercisedi) is three months after the passage date of three months from the termination of the Optionee’s Business Relationship, Employee's employment (but in no event not later than the scheduled expiration date) and (ii) the Commencement Date of any Competitive Activity (as such terms are defined in Section 6(a)) by the Employee. In the event of termination of employment, the Competitive Activity Repurchase Option described in Section 6(a) shall be applicable. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s 's written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any Subsidiary.
Appears in 1 contract
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the CompanyCompany and all Related Corporations, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after , to the passage extent otherwise exercisable on the last day of employment, for a period of three months from the termination Employee's last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. In such a case, the Employee's only rights hereunder shall be those which are properly exercised before the termination of this option. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s 's written approval of the leave of absence. This option shall not be affected by any change in the type of Business Relationship the Optionee has within or among the Company and its Subsidiaries so long as the Optionee continuously maintains a Business Relationship with the Company or any Subsidiary.
Appears in 1 contract
Termination Other Than for Cause. If the Optionee Employee ceases to maintain a Business Relationship with be employed by the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after the passage of three months from the termination Employee’s last day of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship employment of the Optionee Employee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. For purposes hereof, employment shall include a consulting arrangement between the Employee and the Company that immediately follows termination of employment, but only if so stated in a written consulting agreement executed by the Company that specifically refers to this option. This option shall not be affected by any change in the type of Business Relationship the Optionee has employment within or among the Company and its Subsidiaries so long as the Optionee Employee continuously maintains a Business Relationship with remains an employee of the Company or any SubsidiarySubsidiary (as defined in the Plan).
Appears in 1 contract
Termination Other Than for Cause. If the Optionee’s employment is terminated for any reason other than for Cause (as defined in paragraph (c) of this Section) and the Option is not fully vested, then the unvested portion of the Option shall be forfeited unless the Committee determines, in its discretion prior to the termination of employment of the Optionee ceases to maintain accelerate the vesting of any portion of the Option. If the Committee determines to vest any unvested portion of the Option pursuant to the preceding sentence, such vesting shall be subject to and effective only if the Optionee executes and delivers a Business Relationship with Settlement Agreement and Release (“Release”) satisfactory to the CompanyCompany on or before the Decision Date (as defined in the Release). If the employment of the Optionee terminates, other than by reason of death or disability (as defined in Section 5 6) or termination for Cause (as defined in Section 4(cparagraph (c) of this Section), no further installments of this option shall become exercisable, and this option the Option shall expire (and may no longer be exercised) exercised after the passage of three months from the termination of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration dateExpiration Date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such the leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship of the Optionee after the approved period of absenceCompany; in the event of such an approved any unpaid leave of absence, vesting of this option the Option shall be suspended (and the period unpaid portion of the leave of absence shall be added to all vesting installment dates) unless otherwise provided in determined by the Company’s written approval of the leave of absence. This option shall not be affected by any change in the type of Business Relationship the Optionee has within or among the Company and its Subsidiaries so long as the Optionee continuously maintains a Business Relationship with the Company or any SubsidiaryCommittee.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Realnetworks Inc)
Termination Other Than for Cause. If the Optionee Participant ceases to maintain be involved in a Business Relationship with the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments vesting of Unvested Shares shall immediately cease, this option shall become exercisable, and this option shall expire (award may no longer be exercised) after exercised only as to any Award Shares that are Vested Shares on the passage date of three months from the termination of the OptioneeParticipant’s Business Relationship, Relationship with the Company and this award may be exercised only on or prior to the date which is three months after the date of termination of the Participant’s Business Relationship with the Company (but in no event not later than the scheduled expiration date). In the event of the termination of Participant’s Business Relationship with the Company, the Repurchase Option described in Section 6 shall also be applicable. For purposes hereof, a the Participant’s Business Relationship with the Company shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship of the Optionee Participant after the approved period of absence; in the event of such an approved leave of absence, vesting of this option award shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. This option award shall not be affected by any change in of the type of Participant’s Business Relationship the Optionee has within or among the Company and its Subsidiaries so long as the Optionee Participant continuously maintains a Business Relationship with the Company or any Subsidiary.
Appears in 1 contract
Termination Other Than for Cause. If the Optionee ceases to maintain a Business Relationship with the Company, other than by reason of death or disability as defined in Section 5 or termination for Cause as defined in Section 4(c), no further installments of this option shall become exercisable, and this option shall expire (may no longer be exercised) after the passage of three months from the termination of the Optionee’s Business Relationship, but in no event later than the scheduled expiration date. For purposes hereof, a Business Relationship shall not be considered as having terminated during any leave of absence if such leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship of the Optionee after the approved period of absence; in the event of such an approved leave of absence, vesting of this option shall be suspended (and the period of the leave of absence shall be added to all vesting dates) unless otherwise provided in the Company’s written approval of the leave of absence. This option shall not be affected by any change in the type of Business Relationship the Optionee has within or among the Company and its Subsidiaries so long as the Optionee continuously maintains a Business Relationship with the Company or any SubsidiarySubsidiary (as defined in the Plan).
Appears in 1 contract
Sources: Nonstatutory (Non Qualified) Stock Option Agreement (Exact Sciences Corp)
Termination Other Than for Cause. If the Company terminates the employment of the Optionee ceases for any reason other than for Cause (as defined in paragraph (c) of this Section) and the Option is not fully vested, the next installment of the Option scheduled to maintain vest (if any) shall vest on a Business Relationship with pro rata basis for the Companyportion of the year elapsed since the date on which the vesting of the option commences or the last anniversary thereof, expressed in full months (the “Pro Rata Portion”), provided that the Optionee executes and delivers a Settlement Agreement and Release (“Release”) satisfactory to the Company before the Effective Date (as defined in the Release). If the employment of the Optionee terminates, other than by reason of death or disability (as defined in Section 5 6) or termination by the Company for Cause (as defined in Section 4(cparagraph (c) of this Section), no further installments of this option shall become exercisable, and this option the Option shall expire (and may no longer be exercised) exercised after the passage of three months from the termination of the Optionee’s Business Relationshipemployment, but in no event later than the scheduled expiration dateExpiration Date. For purposes hereof, a Business Relationship employment shall not be considered as having terminated during any leave of absence if such the leave of absence has been approved in writing by the Company and if such written approval contractually obligates the Company to continue the Business Relationship of the Optionee after the approved period of absenceCompany; in the event of such an approved any unpaid leave of absence, vesting of this option the Option shall be suspended (and the period unpaid portion of the leave of absence shall be added to all vesting installment dates) unless otherwise provided in determined by the Company’s written approval of the leave of absence. This option shall not be affected by any change in the type of Business Relationship the Optionee has within or among the Company and its Subsidiaries so long as the Optionee continuously maintains a Business Relationship with the Company or any SubsidiaryCommittee.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Realnetworks Inc)