Amendment of Stock Option Award Sample Clauses

Amendment of Stock Option Award. The Stock Option Agreement is amended by inserting the following at the end of the first paragraph of Section IV (“Termination of Employment”): “In addition, the Option shall immediately vest effective upon the Effective Date of the Transition and Retirement Agreement between the Company and the Optionee (the “Retirement Agreement”). If the Optionee’s employment ends due to a Retirement as defined in the Retirement Agreement, the Option shall be exercisable by the Optionee or the Optionee’s appointed representative, as the case may be, until February 24, 2019, subject to Section VI. If the Optionee’s employment ends for any other reason, the exercise period shall be as otherwise provided below.” The Stock Option Award as amended pursuant to this provision is referred to as the “Amended Stock Option Award.”
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Benjamin V
Principal