Common use of Early Expiration Upon Termination of Employment Clause in Contracts

Early Expiration Upon Termination of Employment. Any portion of your Option that was not vested and exercisable on the date your employment with the Company terminates shall expire and be forfeited without payment of any kind on such date, and any portion of your Option that was vested and exercisable on the date your employment with the Company terminates shall also expire and be forfeited without payment of any kind on such date; PROVIDED that: (i) if you die or become subject to any Disability, the portion of your Option that is vested and exercisable shall expire 180 days from the date of your death or Disability, but in no event after the Expiration Date, (ii) if you retire (with the approval of the Committee or the Board), the portion of your Option that is vested and exercisable shall expire 90 days from the date of your retirement, but in no event after the Expiration Date, (iii) if your employment is terminated other than for Cause, the portion of your Option that is vested and exercisable shall expire 90 days from the date of your termination, but in no event after the Expiration Date, and (iv) if your employment is terminated for Cause, the portion of your Option, to the extent not theretofore exercised, shall expire immediately.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Tsi Networks Inc), Nonqualified Stock Option Agreement (Tsi Networks Inc)

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Early Expiration Upon Termination of Employment. Any portion of ----------------------------------------------- your Option that was not vested and exercisable on the date your employment with the Company terminates terminated shall expire and be forfeited without payment of any kind on such date, and any portion of your Option that was vested and exercisable on the date your employment with the Company terminates terminated shall also expire and be forfeited without payment of any kind on such dateforfeited; PROVIDED provided that: (i) if you die or become subject to any Disability, the portion of your Option that is vested and exercisable shall expire 180 days from the date of your death or Disability, but in no event after the Expiration Date, (ii) if you retire (with the approval of the Committee or the Board), the portion of your Option that is vested and exercisable shall expire 90 days from the date of your retirement, but in no event after the Expiration Date, and (iii) if your employment is terminated you are discharged other than for Cause, the portion of your Option that is vested and exercisable shall expire 90 30 days from the date of your terminationdischarge, but in no event after the Expiration Date, and (iv) if your employment is terminated for Cause, the portion of your Option, to the extent not theretofore exercised, shall expire immediately.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Wec Co)

Early Expiration Upon Termination of Employment. Any If your employment with the Company or any of its Subsidiaries terminates, (x) any portion of your Option that was not vested and exercisable on the date your employment with the Company terminates Date of Termination shall expire and be forfeited without payment as of any kind on such date, and (y) any portion of your Option that was vested and exercisable on the date your employment with the Company terminates Date of Termination shall also expire and be forfeited without payment as of any kind on such date; PROVIDED , except that: (i) if your employment terminates because you die or become subject to any Disability, the portion of your Option that is vested and exercisable shall expire 180 days from the date six months after your Date of your death or DisabilityTermination, but in no event after the Expiration Date, (ii) if your employment terminates because you retire (with the approval of the Committee or the BoardCommittee), the portion of your Option that is vested and exercisable shall expire 90 thirty (30) days from the date after your Date of your retirement, but in no event after the Expiration Date, (iii) if your employment is terminated other than for Cause, the portion of your Option that is vested and exercisable shall expire 90 days from the date of your terminationTermination, but in no event after the Expiration Date, and (iviii) if you are discharged by the Company or its Subsidiaries other than for Cause or are discharged as a result of voluntary termination, your employment is terminated for Cause, the portion of your Option, to the extent not theretofore exercised, Option shall expire immediatelythirty (30) days after your Date of Termination, but in no event after the Expiration Date.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Prommis Solutions Holding Corp.)

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Early Expiration Upon Termination of Employment. Any portion of your Option that was not vested and exercisable on the date your employment with the Company terminates shall terminated (for any reason whatsoever) will expire and be forfeited without payment of any kind on such date, and any portion of your Option that was vested and exercisable on the date your employment with the Company terminates shall terminated (for any reason whatsoever) will also expire and be forfeited without payment of any kind on such dateforfeited; PROVIDED provided, however, that: (i) if you die or become subject to any Disability, the portion of your Option that is vested and exercisable shall will expire 180 90 days from form the date of your death or Disability, but in no event after the Expiration Date, (ii) if you retire (with the approval of the Committee or the Board)Retire, the portion of your Option that is vested and exercisable shall will expire 90 days from the date of your retirementRetirement, but in no event after the Expiration Date, and (iii) if your employment is terminated you are discharged for any reason other than for Cause, the portion of your Option that is vested and exercisable shall will expire 90 30 days from form the date of your terminationdischarge, but in no event after the Expiration Date, and (iv) if your employment is terminated for Cause, the portion of your Option, to the extent not theretofore exercised, shall expire immediately.

Appears in 1 contract

Samples: Hbo & Co

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