Termination Clause Example with 4 Variations from Business Contracts

Termination. 3.1 Termination for Any Reason Except Death, Disability or Cause. If the Participant is Terminated for any reason, except death, Disability or for Cause, then, except as provided in the next sentence, the Option, to the extent (and only to the extent) that it would have been exercisable as to Vested Shares by the Participant on the Termination Date, may be exercised by the Participant no later than three (3) months after the Termination Date, but in any event no later than the Option Expiration ...Date set forth in the Grant Notice. Notwithstanding the foregoing, if the Participant has been a full-time, continuous employee of the Company or one of its subsidiaries for at least two years as of the Participant's Termination Date, and the Participant is Terminated for any reason except death, Disability or for Cause, then the Option, to the extent (and only to the extent) that it would have been exercisable as to Vested Shares by the Participant on the Termination Date, may be exercised by the Participant no later than the earliest to occur of (a) consummation of a Change of Control as defined in Section 18.1 of the Plan and (b) the seven-year anniversary of the Termination Date. The Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to Unvested Shares on or after the Participant's Termination Date. 3.2 Termination Because of Death or Disability. If the Participant is Terminated because of death or Disability of the Participant (or the Participant dies within three (3) months of Termination when Termination is for any reason other than the Participant's Disability or for Cause), the Option, to the extent that it is exercisable as to Vested Shares by the Participant on the Termination Date, may be exercised by the Participant (or the Participant's legal representative) no later than twelve (12) months after the one (1) year anniversary of the Termination Date, but in any event no later than the Option Expiration Date. Date set forth in the Grant Notice. Any exercise beyond (i) three (3) months after the Termination Date when the Termination is for any reason other than the Participant's death or disability, within the meaning of Section 22(e)(3) of the Code; or (ii) twelve (12) months after one (1) year anniversary of the Termination Date when the termination is for the Participant's disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be an NQSO. The Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to Unvested Shares on or after the Participant's Termination Date. 3.3 Termination for Cause. If the Participant is terminated for Cause, the Participant may exercise such Participant's Options, but not only to an the extent greater than that such 4 Options are exercisable as to Vested Shares on the Termination Date, upon the Termination Date and Participant's Options Options, to the extent unexercised, shall expire on such Participant's Termination Date, Date or at such later time and on such conditions as are determined by the Committee. Committee in its sole discretion. The Option shall expire immediately with respect to any Shares that are Unvested Shares and may not be exercised with respect to Unvested Shares on or after the Participant's Termination Date. 3.4 No Obligation to Employ. Nothing in the Plan or this Agreement shall confer on the Participant any right to continue in the employ of, or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate the Participant's employment or other relationship at any time, with or without Cause. View More

Termination. 3.1 4.1 Termination for Any Reason Except Death, Disability or Cause. If Participant is Terminated for any reason, except death, Disability or for Cause, the Option, to the extent (and only to the extent) that it would have been exercisable by Participant on the Termination Date, may be exercised by Participant no later than three (3) months after the Termination Date, but in any event no later than the Expiration Date. 3.2 Any exercise beyond three (3) months after the Termination Date will be ...deemed the exercise of an NQSO. 4.2 Termination Because of Death or Disability. If Participant is Terminated because of Participant's death or Disability of Participant (or Participant dies within three (3) months of after Termination when Termination is for any reason other than Participant's Disability or for Cause), the Option, to the extent that it is exercisable by Participant on the Termination Date, may be exercised by Participant (or Participant's legal representative) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise beyond (i) (a) three (3) months after the Termination Date when the Termination is for any reason other than the Participant's death or disability, within the meaning of Section 22(e)(3) of the Code; or (ii) (b) twelve (12) months after the Termination Date when the termination is for Participant's disability, within the meaning of Section 22(e)(3) of the Code, is will be deemed to be the exercise of an NQSO. 3.3 4.3 Termination for Cause. If the Participant is terminated for Cause, the Participant may exercise such Participant's Options, but not to an extent greater than such Options are exercisable as to Vested Shares upon the Termination Date and Participant's Options shall expire on such Participant's the Termination Date, or at such later time and on such conditions as are determined by the Committee. 3.4 No Obligation to Employ. Nothing in the Plan or this Agreement shall confer on Participant any right to continue in the employ of, or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Participant's employment or other relationship at any time, with or without Cause. View More

Termination. 3.1 Termination for Any Reason Except Death, Disability or Cause. If Participant is Terminated for any reason, except death, Disability or for Cause, the Option, to the extent (and only to the extent) that it would have been exercisable by Participant on the Termination Date, may be exercised by Participant no later than three (3) months after the Termination Date, but in any event no later than the Expiration Date. 3.2 Termination Because of Death or Disability. If Participant is Terminated bec...ause of death or Disability of Participant (or Participant dies within three (3) months of Termination when Termination is for any reason other than Participant's Disability or for Cause), the Option, to the extent that it is exercisable by Participant on the Termination Date, may be exercised by Participant (or Participant's legal representative) no later than twelve (12) months after the Termination Date, unless otherwise stated in the Country Addendum, but in any event no later than the Expiration Date. Any exercise beyond (i) three (3) months after the Termination Date when the Termination is for any reason other than the Participant's death or disability, within the meaning of Section 22(e)(3) of the Code; or (ii) twelve (12) months after the Termination Date when the termination Termination is for Participant's disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be an NQSO. 3.3 Termination for Cause. If the Participant is terminated Terminated for Cause, the Participant may exercise such Participant's Options, but not to an extent greater than such Options are exercisable as to Vested Shares upon the Participation's Termination Date Date, and the Participant's Options shall expire on such Participant's Termination Date, Date or at such later time and on such conditions as are determined by the Committee. 3.4 Termination Defined. For purposes of the Option, the Termination Date shall be the date Participant is no longer actively providing services to the Company or any Parent or Subsidiary of the Company (regardless of the reason for such Termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any) subject to such provisions for leave of absences set forth in "Termination" definition of the Plan. The Termination Date will not be extended by any notice period unless Participant provides active services throughout such period (e.g., Participant's period of service would not include any contractual notice period or any period of "garden leave" or similar period mandated under employment laws in the jurisdiction where Participant is employed or the terms of Participant's employment agreement, if any). The Committee shall have the sole and exclusive discretion to determine when Participant is no longer actively providing services for purposes of the Option grant (including whether Participant may still be considered to be providing services while on a leave of absence. 3.5 No Obligation to Employ. Nothing in the Plan or this Agreement shall confer on Participant any right to continue in the employ of, or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Participant's employment or other relationship at any time, with or without Cause. View More

Termination. 3.1 Termination for Any Reason Except Death, Disability or Cause. If Participant is Terminated for any reason, except death, Disability or for Cause, then (a) on and after Participant's Termination Date, the Option shall expire immediately with respect to any Shares that are Unvested Shares and (b) the Option, to the extent (and only to the extent) that it would have been is exercisable by Participant with respect to Vested Shares on the Participant's Termination Date, may be exercised by Partic...ipant no later than three (3) months after the Termination Date, but in any event no later than the Expiration Date. 3.2 Termination Because of Death or Disability. If Participant is Terminated because of death or Disability of Participant (or Participant dies within three (3) months of Termination when Termination is for any reason other than Participant's Disability or for Cause), Cause) then (a) on and after Participant's Termination Date, the Option shall expire immediately with respect to any Shares that are Unvested Shares and (b) the Option, to the extent that it is exercisable with respect to Vested Shares by Participant on the Termination Date, may be exercised by Participant (or Participant's legal representative) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise beyond (i) three (3) months after the Termination Date date Participant ceases to be an employee when the Termination is for any reason other than the Participant's death or disability, within the meaning of Section 22(e)(3) of the Code; or (ii) twelve (12) months after the Termination Date date Participant ceases to be an employee when the termination is for Participant's disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be an NQSO. 3.3 Termination for Cause. If the Participant is terminated for Cause, the Participant may exercise such Participant's Options, but not to an extent greater than such Options are exercisable as to Vested Shares upon the Termination Date and Participant's Options shall expire on such Participant's Termination Date, or at such later time and on such conditions as are determined by the Committee. On and after Participant's Termination Date, the Option shall expire immediately with respect to any Shares that are Unvested Shares. 2 3.4 No Obligation to Employ. Nothing in the Plan or this Agreement shall confer on Participant any right to continue in the employ of, or other relationship with, the Company or any Parent or Subsidiary of the Company, or limit in any way the right of the Company or any Parent or Subsidiary of the Company to terminate Participant's employment or other relationship at any time, with or without Cause. View More