Time Option. Notwithstanding Section 3(a) and 3(d)(i), (x) in the event that the Participant’s Employment is terminated (A) by the Company without Cause or (B) by the Participant with Good Reason, to the extent not previously cancelled or expired, the Time Option shall immediately become one hundred percent (100%) vested and exercisable or (y) in the event that the Participant’s Employment is terminated due to the Participant’s death or Disability, the Time Option shall immediately become vested and exercisable as to the Shares subject to the Time Option that would have otherwise vested and become exercisable in the calendar year in which such termination of Employment occurs.
Appears in 3 contracts
Sources: Nonqualified Stock Option Agreement (New Skies Satellites Holdings Ltd.), Nonqualified Stock Option Agreement (New Skies Satellites Holdings Ltd.), Nonqualified Stock Option Agreement (New Skies Satellites Holdings Ltd.)
Time Option. Notwithstanding Section 3(a) and 3(d)(i3(c)(i), (x) in the event that the Participant’s Employment is terminated (A) by the Company without Cause or Cause, (B) by the Participant with Good ReasonReason or (C) due to the Participant’s death, Disability or Retirement, to the extent not previously cancelled or expired, the Time Option shall immediately become one hundred percent (100%) vested and exercisable or (y) in the event that the Participant’s Employment is terminated due to the Participant’s death or Disability, the Time Option shall immediately become vested and exercisable as to the Shares subject to the Time Option that would have otherwise vested and become exercisable in the calendar year in which such termination of Employment occurs.
Appears in 3 contracts
Sources: Nonqualified Stock Option Agreement (Celanese CORP), Nonqualified Stock Option Agreement (Celanese CORP), Nonqualified Stock Option Agreement (Celanese CORP)