Term of Options Clause Example from Business Contracts

This example Term of Options clause appears in 7 contracts from 1 company

Term of Options. (a) The Option shall have a term of five (5) years from the Date of Grant and shall terminate at the expiration of that period, unless it is terminated at an earlier date pursuant to the provisions of this Agreement or the Plan. (b) Unless otherwise specified by the Board, the Option shall automatically terminate on the date on which the Grantee ceases to provide service to the Company for any reason, except for the happening of any of the events described in Paragraph 3(c). (c) The Option shall... automatically upon the happening of the first of the following events: (i) The date on which the Board determines that the Grantee has engaged in conduct that constitutes Cause at any time while the Grantee is providing service to the Company. In addition, notwithstanding the other provisions of this Paragraph 3, if the Board determines that the Grantee has engaged in conduct that constitutes Cause after the Grantee's termination of service for any reason, the Option shall immediately terminate. (ii) The expiration of the 90-day period after the Grantee ceases to provide services to the Company, as a result of a termination of service without Cause or if the Grantee voluntarily terminated service and provided the Company with at least 90 days advance written notice of the effective date of such termination of service with the Company. (iii) The expiration of the one-year period after the Grantee ceases to provide services to the Company on account of the Grantee's Disability. (iv) The expiration of the one-year period after the Grantee ceases to provide services to the Company, if the Grantee dies while in the service of the Company. Notwithstanding the foregoing, in no event may the Option be exercised after the date that is five (5) years from the Date of Grant. Any portion of the Option that is not exercisable at the time the Grantee ceases to provide service to the Company shall immediately terminate. View More
Found in GENEREX BIOTECHNOLOGY CORP contract
GENEREX BIOTECHNOLOGY CORP Contracts

THIS OPTION HAS NOT BEEN REGISTERED UNDERTHE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESSREGISTERED... (Filed With SEC on December 9, 2013)

THIS OPTION HAS NOT BEEN REGISTERED UNDERTHE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESSREGISTERED... (Filed With SEC on December 9, 2013)

THIS OPTION HAS NOT BEEN REGISTERED UNDERTHE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESSREGISTERED... (Filed With SEC on December 9, 2013)

THIS OPTION HAS NOT BEEN REGISTERED UNDERTHE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESSREGISTERED... (Filed With SEC on July 2, 2013)

THIS OPTION HAS NOT BEEN REGISTERED UNDERTHE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESSREGISTERED... (Filed With SEC on July 2, 2013)

THIS OPTION HAS NOT BEEN REGISTERED UNDERTHE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESSREGISTERED... (Filed With SEC on July 2, 2013)

THIS OPTION HAS NOT BEEN REGISTERED UNDERTHE SECURITIES ACT OF 1933, AS AMENDED, OR SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESSREGISTERED... (Filed With SEC on July 2, 2013)