Grouped Into 1 Collection of Similar Clauses From Business Contracts
This page contains Termination of Affiliation clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Termination of Affiliation. Except as the Committee may otherwise expressly provide, or as may otherwise be expressly provided in any agreement between the Company and the Grantee, if the Grantee has a Termination of Affiliation with the Company and all of its Affiliates, the period within which the Grantee may exercise this Option may be subject to earlier termination as set forth below: (a) Termination of Affiliation Due to Death or Disability. If the Grantee's Termination of Affiliation occurs by reason of such Grantee'...s death or Disability, this Option may be exercised, to the extent exercisable on the date of such termination, by the Grantee or by the Grantee's legal representative or legatee for a period of twelve (12) months from the date of such termination or until the Expiration Date, if earlier. (b) Termination for Cause. If the Grantee has a Termination of Affiliation for Cause (as defined below), all Options (unvested and vested) shall terminate immediately. (c) Other Termination. If the Grantee's Termination of Affiliation occurs for any reason other than death or Disability or Cause, this Option may be exercised, to the extent exercisable on the date of such termination, by the Grantee until the earlier of (i) the date that is three months from the date of the Grantee's Termination of Affiliation or (ii) the Expiration Date. (d) Treatment of Unvested Options on Termination of Affiliation. Any portion of this Option that is not exercisable on the date of the Grantee's Termination of Affiliation for any reason shall terminate immediately and be null and void and of no further force and effect.View More
Termination of Affiliation. Except as the Committee may otherwise expressly provide, or as may otherwise be expressly provided in any agreement between the Company and the Grantee, if the Grantee has a Termination of Affiliation with the Company and all of its Affiliates, the period within which the Grantee may exercise this Option may be subject to earlier termination as set forth below: (a) Termination of Affiliation Due to Death or Disability. If the Grantee's Termination of Affiliation occurs by reason of such Grantee'...s death or Disability, this Option may be exercised, to the extent exercisable on the date of such termination, by the Grantee or by the Grantee's legal representative or legatee for a period of twelve (12) months from the date of such termination or until the Expiration Date, expiration of the Term of this Option, if earlier. (b) Termination for Cause. If the Grantee has a Termination of Affiliation for Cause (as defined below), Cause, all Options (unvested and vested) shall terminate immediately. For purposes of this Award Certificate, "Cause" means conduct by the Grantee that materially and adversely affects the best interests of the Company or any of its Affiliates such as to make it unreasonable to expect the Company to continue to retain the services of the Grantee or which is likely to bring the Company into disrepute, in each case in the reasonable opinion of the Board, including, without limitation: (i) the conviction of a felony or a crime of the third degree; (ii) the commission or attempted commission of any act of willful misconduct or dishonesty or malfeasance; (iii) the material or persistent failure to perform or gross negligence in the performance by the Grantee of his or her duties to the Company or any Affiliate; or (iv) the violation or attempted violation of any provision of any consulting, confidentiality or other agreement between the Company and the Grantee; provided, however, that if the term "Cause" is defined in a consulting agreement or other agreement between Grantee and the Company, then as to Grantee, such definition of "Cause" shall govern for purposes of this Award Certificate. (c) Other Termination. If the Grantee's Termination of Affiliation occurs for any reason other than death or Disability or Cause, this Option may be exercised, to the extent exercisable on the date of such termination, by the Grantee until the earlier for a period of (i) the date that is three months ninety (90) days from the date of termination or until the Grantee's Termination expiration of Affiliation or (ii) the Expiration Date. Term of this Option, if earlier. (d) Treatment of Unvested Options on Termination of Affiliation. Any Except as provided in Section 3, any portion of this Option that is not exercisable on the date of the Grantee's Termination of Affiliation for any reason shall terminate immediately and be null and void and of no further force and effect. effect, unless the Committee exercises its discretion within thirty (30) days after the Grantee's Termination of Affiliation to accelerate the vesting and cause all or any portion of such unvested Options to become exercisable following the Grantee's Termination of Affiliation. View More
