Term of Options Clause Example with 7 Variations from Business Contracts

Term of Options. Except as otherwise provided in this Agreement, the Option shall be exercisable for five (5) ten (10) years from the date of this Agreement; provided, however, that (a) in the event Executive ceases to be employed by the Company (for any reason or no reason, and regardless of whether ceasing to be an employee is voluntary or involuntary on the part of Executive), Executive or his/her legal representative shall have ninety (90) days six (6) months from the date of such termination, or, if earlier..., upon the expiration date of the Option as set forth above, to exercise any part of the Option. Upon Option; upon the expiration of such ninety (90) day six (6) month period, or, if earlier, upon the expiration date of the Option as set forth above, the Option shall terminate and become null and void. void; and (b) that in the event of a "Corporate Transaction" (as such term is defined in the Plan), and unless waived by the Company's Board of Directors in its sole discretion, Executive or his/her legal representative shall be required to exercise the entire vested portion of the Option prior to the consummation of the Corporate Transaction (but contingent upon the occurrence thereof) and, whether exercised or not exercised prior to the Corporate Transaction, immediately prior to the Corporate Transaction the Option shall terminate and become null and void; provided, however, that for purposes of this Agreement, a Corporate Transaction will not be deemed to have occurred solely due to the Company reducing the size of its asset base through restaurant refranchising. Notwithstanding the foregoing, if Executive breaches the Executive Notice Period set forth in Section 6(d) of the Employment Agreement, fifty percent (50%) of Executive's vested Options shall automatically and immediately terminate. View More

Term of Options. Except To the extent vested, and except as otherwise provided in this Agreement, the Option shall be exercisable for five (5) ten (10) years from the date of this Agreement; provided, however, that in the event Executive Director ceases to be employed by either a member of the Company Board (for any reason or no reason, and regardless of whether ceasing to be an employee a member of the Board is voluntary or involuntary on the part of Executive), Executive Director) or employed by or engaged as ...a consultant to the Company, Director or his/her legal representative shall have ninety (90) days one (1) year from the date of such termination, or, if earlier, upon the expiration date of the Option as set forth above, to exercise any part of the Option. Option vested pursuant to Section 3 of this Agreement. Upon the expiration of such ninety (90) day one (1) year period, or, if earlier, upon the expiration date of the Option as set forth above, the Option shall terminate and become null and void. View More

Term of Options. Except as otherwise provided in this Agreement, the Option shall be exercisable for five (5) years from the date of this Agreement; provided, however, that (a) in the event Executive ceases to be employed by the Company (for any reason or no reason, and regardless of whether ceasing to be an employee is voluntary or involuntary on the part of Executive), Executive or his/her legal representative shall have ninety (90) days six (6) months from the date of such termination, or, if earlier, upon th...e expiration date of the Option as 3 set forth above, to exercise any part of the Option. Upon Option; upon the expiration of such ninety (90) day six (6) month period, or, if earlier, upon the expiration date of the Option as set forth above, the Option shall terminate and become null and void; and (b) that in the event of a "Corporate Transaction" (as such term is defined in the Plan), and unless waived by the Company's Board of Directors in its sole discretion, Executive or his/her legal representative shall be required to exercise the entire vested portion of the Option prior to the consummation of the Corporate Transaction (but contingent upon the occurrence thereof) and, whether exercised or not exercised prior to the Corporate Transaction, immediately prior to the Corporate Transaction the Option shall terminate and become null and void. View More

Term of Options. Except To the extent vested, and except as otherwise provided in this Agreement, the Option shall be exercisable for five (5) ten (10) years from the date of this Agreement; provided, however, that in the event Executive Employee ceases to be employed by an employee of the Company (for Company, for any reason or no reason, and regardless of whether ceasing to be an employee is voluntary with or involuntary on the part of Executive), Executive without cause, Director or his/her his her legal repr...esentative shall have ninety (90) days from the date of such termination, that he or she ceases to be an employee, or, if earlier, upon the expiration date of the Option as set forth above, to exercise any part of the Option. Option vested pursuant to Section 3 of this Agreement. Upon the expiration of such ninety (90) day period, or, if earlier, upon the expiration date of the Option as set forth above, the Option shall terminate and become null and void. View More

Term of Options. Except as otherwise provided in this Agreement, the Option shall be exercisable for five (5) years from the date of this Agreement; provided, however, that in the event Executive ceases to be either a member of the Board of Directors of the Company (the "Board") or employed by or engaged as a consultant to the Company (for (in either case, for any reason or no reason, and regardless of whether ceasing to be a member of the Board or an employee or consultant is voluntary or involuntary on the par...t of Executive), Executive or his/her legal representative shall have ninety (90) days one (1) year from the date of such termination, or, if earlier, upon the expiration date of the Option as set forth above, to exercise any part of the Option. Upon the expiration of such ninety (90) day one (1) year period, or, if earlier, upon the expiration date of the Option as set forth above, the Option shall terminate and become null and void. View More

Term of Options. Except as otherwise provided in this Agreement, the Option shall be exercisable for five (5) years from the date of this Agreement; provided, however, that (a) in the event Executive ceases to be employed by the Company (for any reason or no reason, and regardless of whether ceasing to be an employee is voluntary or involuntary on the part of Executive), Executive or his/her legal representative shall have ninety (90) days from the date of such termination, or, if earlier, upon the expiration da...te of the Option as set forth above, to exercise any part of the Option. Upon Option; upon the expiration of such ninety (90) day period, or, if earlier, upon the expiration date of the Option as set forth above, the Option shall terminate and become null and void; and (b) that in the event of a "Corporate Transaction" (as such term is defined in the Plan), and unless waived by the Company's Board of Directors in its sole discretion, Executive or his/her legal representative shall be required to exercise the entire vested portion of the Option prior to the consummation of the Corporate Transaction (but contingent upon the occurrence thereof) and, whether exercised or not exercised prior to the Corporate Transaction, immediately prior to the Corporate Transaction the Option shall terminate and become null and void. View More

Term of Options. Except as otherwise provided in this Agreement, the Option shall be exercisable for five (5) ten (10) years from the date of this Agreement; provided, however, that in the event Executive Employee ceases to be employed by the Company (for any reason or no reason, and regardless of whether ceasing to be an employee is voluntary or involuntary on the part of Executive), Executive Employee), Employee or his/her legal representative shall have ninety (90) days from the date of such termination, or, ...if earlier, upon the expiration date of the Option as set forth above, to exercise any part of the Option. Upon the expiration of such ninety (90) day period, or, if earlier, upon the expiration date of the Option as set forth above, the Option shall terminate and become null and void. View More