Continuing Service. For purposes of this Section 4, if the Optionee ceases to serve as a member of the Board and, immediately thereafter, is employed by the Company, or a Subsidiary of the Company, then for purposes of determining the expiration of the Option pursuant to this Section 4, the Optionee shall not be deemed to have ceased to serve as a member of the Board and the Optionee’s continued employment by the Company, or a Subsidiary of the Company, shall be deemed to be continued service as a member of the Board.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Powersecure International, Inc.)
Continuing Service. For purposes of this Section 4, if the Optionee ceases to serve as a member of the Board and, immediately thereafter, is employed by the Company, or a Subsidiary of the Company, then for purposes of determining the expiration of the Option pursuant to this Section 4, the Optionee shall not be deemed to have ceased to serve as a member of the Board and the Optionee’s 's continued employment by the Company, or a Subsidiary of the Company, shall be deemed to be continued service as a member of the Board.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Metretek Technologies Inc)