Grouped Into 3 Collections of Similar Clauses From Business Contracts
This page contains Option Provisions clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Option Provisions. 2.1 Termination. Upon the termination of the employment of the Participant with the Company and all Subsidiaries for any reason other than death, Disability, or Retirement, or if Participant is in the employ of a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Participant continues in the employ of the Company or another Subsidiary), then (a) all vesting of the Option shall immediately cease and (b) any and all Options then held by the Participant will, to the ...extent vested as of such termination of employment, remain exercisable in full for a period of one (1) month after such termination of employment (but in no event after the expiration date of any such Option), unless the termination is for Cause. If termination of employment is for Cause (as defined in the Employment Agreement), all Options shall immediately terminate as further provided in the Plan. If the termination of employment is due to Disability or Retirement, then the Option shall be exercisable as provided in the Plan. 2 2.2 Exercise. To exercise the Option, the Participant (or person then entitled to exercise the Option under the Plan) must deliver to the Company an executed stock option exercise agreement in such form as is approved by the Committee from time to time ("Exercise Agreement"), which shall set forth, inter alia: (a) the Participant's election to exercise the Option; (b) the number of shares of Common Stock being purchased; (c) any restrictions imposed on the shares of Common Stock being purchased; and (d) such representations, warranties, and agreements regarding the Participant's investment intent and access to information as may be required by the Company to comply with applicable securities laws. The shares that may be issued on exercise of this Option, at the time of the grant hereof, are not authorized and available for issuance, therefore this Option is currently considered an unfunded option. The Participant agrees that no part of this Option may be exercised until the later of the increase in the authorized shares of common stock in sufficient number of shares to permit the exercise from time to time of this Option or the later respective vesting and exercise date as set forth herein. 2.3 Payment of Exercise Price. The Exercise Price of the Option shall be payable in full in cash, or its equivalent at the time of exercise in the manner then designated by the Committee, unless otherwise agreed by the Committee. 2.4 Vesting. All Options not vested will be terminated and forfeited upon the Participant's termination of employment. Any and all Options that have not vested as provided in Section 1 of this Agreement shall terminate immediately upon the termination, for any reason whatsoever, of the employment of the Participant with the Company and all Subsidiaries, or if Participant is in the employ of a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Participant continues in the employ of the Company or another Subsidiary).View More
Option Provisions. 2.1 Termination. Upon (a) Except as follows below, upon the termination of the employment continuous Service of the Participant with the Company and all Subsidiaries for any reason other than death, Disability, or Retirement, or if Participant Participant's Service is in the employ of to a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Participant continues in the employ of to provide Service to the Company or another Subsidiary), then (a) all vesting of the O...ption shall immediately cease and (b) any and all Options then held by the Participant will, to the extent vested as of such termination of employment, Service, remain exercisable in full for a period of one (1) month after such termination of employment Service (but in no event after the expiration date of any such Option), unless the termination is for Cause. If termination of employment continuous Service is for Cause (as defined in the Employment Agreement), Cause, all Options shall immediately terminate as further provided in the Plan. If the termination of employment continuous Service is due to Disability or Retirement, then the Option shall be exercisable as provided in the Plan. 2 2.2 Certain Definitions. "Cause" (i) shall have the meaning, if any, ascribed such term in the employment or other agreement pursuant to which Participant provides Service to the Company contains a definition or (ii) otherwise, the meaning set forth in the Plan. "Consultant" means a person, excluding Employees and Outside Directors, who performs bona fide services for the Company, a Parent or a Subsidiary as a consultant or advisor and who qualifies as a consultant or advisor under Rule 701(c)(1) of the Securities Act or under Instruction A.1. (a)(1) of Form S-8 under the Securities Act. "Employee" means any individual who is a common law employee of the Company, a Parent or a Subsidiary. "Outside Director" means a member of the Board of Directors who is not an Employee. "Service" means service as an Employee, Outside Director or Consultant. 2.3 Exercise. To exercise the Option, the Participant (or person then entitled to exercise the Option under the Plan) must deliver to the Company an executed stock option exercise agreement in such form as is approved by the Committee from time to time ("Exercise Agreement"), which shall set forth, inter alia: (a) the Participant's election to exercise the Option; (b) the number of shares of Common Stock being purchased; (c) any restrictions imposed on the shares of Common Stock being purchased; and (d) such representations, warranties, and agreements regarding the Participant's investment intent and access to information as may be required by the Company to comply with applicable securities laws. The shares that may be issued on exercise of this Option, at the time of the grant hereof, are not authorized and available for issuance, therefore this Option is currently considered an unfunded option. The Participant agrees that no part of this Option may be exercised until the later of the increase in the authorized shares of common stock in sufficient number of shares to permit the exercise from time to time of this Option or the later respective vesting and exercise date as set forth herein. 2.3 2.4 Payment of Exercise Price. The Exercise Price of the Option shall be payable in full in cash, or its equivalent at the time of exercise in the manner then designated by the Committee, unless otherwise agreed by the Committee. 2.4 2.5 Vesting. All Options not vested will be terminated and forfeited upon the Participant's termination of employment. Service. Any and all Options that have not vested as provided in Section 1 of this Agreement shall terminate immediately upon the termination, for any reason whatsoever, of the employment Service of the Participant with the Company and all Subsidiaries, or if Participant is in the employ Service of a Subsidiary and the Subsidiary ceases to be a Subsidiary of the Company (unless the Participant continues in the employ Service of the Company or another Subsidiary). View More
Option Provisions. 6.3 Exercise Price of a Nonqualified Stock Option. 6.5 Transferability of an Incentive Stock Option. 6.6 Transferability of a Nonqualified Stock Option. 6.7 Vesting of Options. 6.9 Extension of Termination Date. 6.10 Disability of Optionholder. 6.11 Death of Optionholder. 6.12 Incentive Stock Option $100,000 Limitation.
Option Provisions. 6.3 Exercise 6.2Exercise Price of An Incentive Share Option. 6.3Exercise Price of a Nonqualified Stock Non-qualified Share Option. 6.5 Transferability 6.4Consideration. 6.5Transferability of an An Incentive Stock Share Option. 6.6 Transferability of a Nonqualified Stock Option. 6.7 Vesting 6.7Vesting of Options. 6.9 Extension 6.8Termination of Continuous Service. 6.9Extension of Termination Date. 6.10 Disability 6.10Disability of Optionholder. 6.11 Death 6.11Death of Optionholder. 6.12 Incentive... Stock 6.12Incentive Share Option $100,000 Limitation. View More
Option Provisions. 6.3 Exercise Price of a Nonqualified Non-qualified Stock Option. 6.4 Consideration. 6.5 Transferability of an An Incentive Stock Option. 6.6 Transferability of a Nonqualified Stock Option. 6.7 Vesting of Options. 6.9 Extension 6.8 Termination of Termination Date. Continuous Service. 6.10 Disability of Optionholder. 6.11 Death of Optionholder. 6.12 Incentive Stock Option $100,000 Limitation.
