Common use of Exercise After Termination Clause in Contracts

Exercise After Termination. If Optionee incurs a Termination from the Company, to the extent the ISO has not then expired or been exercised, this ISO shall remain exercisable for the period specified below following such Termination and, thereafter, if the ISO is not exercised, it shall expire and terminate. A transfer of Optionee among the Company and its Affiliates, or a leave of absence duly authorized by the Company, shall not be deemed a Termination.

Appears in 2 contracts

Sources: Incentive Stock Option Agreement (Interhealth Facility Transport, Inc.), Incentive Stock Option Agreement (Interhealth Facility Transport, Inc.)