Common use of Additional Trigger Event For Exercisability Clause in Contracts

Additional Trigger Event For Exercisability. In addition to the provisions of Section 2 of the Agreement, in the event the Employee's employment with the Corporation or any Subsidiary terminates by reason of a Qualifying Termination (as defined below) not earlier than six months from the date on which the Option was granted and within two years after a Change of Control (as defined below) of the Corporation, the Option shall become exercisable, no later than the date of such termination, for the purchase of the full number of Common Shares specified in Section 1 of the Agreement. For the purpose of this Supplement:

Appears in 2 contracts

Sources: Stock Option Agreement (Phelps Dodge Corp), Stock Option Agreement (Phelps Dodge Corp)

Additional Trigger Event For Exercisability. In addition to the provisions of Section 2 of the Agreement, in the event the Employee's employment with the Corporation or any Subsidiary terminates by reason of a Qualifying Termination (as defined below) not earlier than six months from the date on which the Option was granted and within two years after a Change of Control (as defined belowin the Plan) of the Corporation, the Option shall become exercisable, no later than the date of such termination, for the purchase of the full number of Common Shares specified in Section 1 of the Agreement. For the purpose of this Supplement:.

Appears in 1 contract

Sources: Stock Option Agreement (Phelps Dodge Corp)