Cancellation of Options. In the event Participant’s services to the Company have been terminated for “Cause”, Participant will immediately forfeit all rights to this Option. The determination by the Board that termination was for Cause will be final and conclusive. In making its determination, the Board will give Participant an opportunity to appear and be heard at a hearing before the full Board and present evidence on the Participant's behalf.
Appears in 3 contracts
Samples: Flux Power (Flux Power Holdings, Inc.), Incentive Stock Option Agreement (Flux Power Holdings, Inc.), Flux Power (Flux Power Holdings, Inc.)
Cancellation of Options. In the event Participant’s services to the Company have been terminated for “Cause”, Participant will immediately forfeit all rights to this Option. The determination by the Board that termination was for Cause will be final and conclusive. In making its determination, the Board will give Participant an opportunity to appear and be heard at a hearing before the full Board and present evidence on the Participant's ’s behalf.
Appears in 2 contracts
Samples: Non Qualified Stock Option Agreement (Flux Power Holdings, Inc.), Incentive Stock Option Agreement (Flux Power Holdings, Inc.)
