Common use of Exercise Period Upon Termination of Employment Clause in Contracts

Exercise Period Upon Termination of Employment. If the Optionee ceases to be employed by the Company for any reason, then, except as provided in paragraphs (g) and (h) below, the right to exercise this option shall terminate three months after the later of cessation of employment or cessation of vesting (but in no event after the Expiration Date), provided that this option shall be exercisable only to the extent that the Optionee was entitled to exercise this option on the date of such cessation. The Company's obligation to deliver shares upon the exercise of this option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a non-statutory option or otherwise.

Appears in 3 contracts

Samples: Banyan Systems Incorporated Non Qualified Stock Option Agreement (Banyan Systems Inc), Qualified Stock Option Agreement (Epresence Inc), Banyan Systems Incorporated Non Qualified Stock Option Agreement (Banyan Systems Inc)

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Exercise Period Upon Termination of Employment. If the Optionee ceases to be employed by the Company for any reason, then, except as provided in paragraphs (ge) and (hf) below, the right to exercise this option shall terminate three months 90 days after the later of such cessation of employment or cessation of vesting (but in no event after the Expiration Date), provided that this option shall be exercisable only to the extent that the Optionee was entitled to exercise this option on the date of such cessation. The Company's obligation to deliver shares upon the exercise of this option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a non-statutory option or otherwise.

Appears in 2 contracts

Samples: United Natural Foods Inc, United Natural Foods Inc

Exercise Period Upon Termination of Employment. If the Optionee ceases ---------------------------------------------- to be employed by the Company for any reason, then, except as provided in paragraphs (g) and (h) below, the right to exercise this option shall terminate three months after the later of cessation of employment or cessation of vesting (but in no event after the Expiration Date), provided that this option shall be exercisable only -------- ---- to the extent that the Optionee was entitled to exercise this option on the date of such cessation. The Company's obligation to deliver shares upon the exercise of this option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a non-statutory option or otherwise.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Epresence Inc)

Exercise Period Upon Termination of Employment. If the Optionee ---------------------------------------------- ceases to be employed by the Company for any reason, then, except as provided in paragraphs (g) and (h) below, the right to exercise this option shall terminate three months after the later of cessation of employment or cessation of vesting (but in no event after the Expiration Date), provided that this option shall ------------- be exercisable only to the extent that the Optionee was entitled to exercise this option on the date of such cessation. The Company's obligation to deliver shares upon the exercise of this option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a non-statutory option or otherwise.

Appears in 1 contract

Samples: Incorporated Non Qualified Stock Option Agreement (Banyan Systems Inc)

Exercise Period Upon Termination of Employment. If the Optionee ceases to be employed by the Company for any reason, then, except as provided in paragraphs (ge) and (hf) below, the right to exercise this option shall terminate three months after the later of such cessation of employment or cessation of vesting (but in no event after the Expiration Date), provided that PROVIDED THAT this option shall be exercisable only to the extent that the Optionee was entitled to exercise this option on the date of such cessation. The Company's obligation to deliver shares upon the exercise of this option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a non-statutory option or otherwise.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Versicor Inc /Ca)

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Exercise Period Upon Termination of Employment. If the Optionee ceases to be employed by the Company for any reason, then, except as provided in paragraphs (ge) and (hf) below, the right to exercise this option shall terminate three (3) months after the later of such cessation of employment or cessation of vesting (but in no event after the Expiration Date), provided that this option shall be exercisable only to the extent that the Optionee was entitled to exercise this option on the date of such cessation. The Company's ’s obligation to deliver shares upon the exercise of this option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a non-statutory option or otherwise.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Distributed Energy Systems Corp)

Exercise Period Upon Termination of Employment. If the Optionee ceases to be employed by the Company for any reason, then, except as provided in paragraphs (g) and (h) below, the right to exercise this option shall terminate three months after the later of cessation of employment or cessation of vesting (but in no event after the Expiration Date), provided that this option shall be exercisable only to the extent that the Optionee was entitled to exercise this option on the date of such cessation. The Company's obligation to deliver shares upon the exercise of this option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a non-non- statutory option or otherwise.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Epresence Inc)

Exercise Period Upon Termination of Employment. If the Optionee ceases to be employed by the Company for any reason, then, except as provided in paragraphs paragraph (g) and (he) below, the right to exercise this option shall terminate three months after the later of such cessation of employment or cessation of vesting (but in no event after the Expiration Date), provided that this option shall be exercisable only to the extent that the Optionee was entitled to exercise this option on the date of such cessation. The Company's obligation to deliver shares upon the exercise of this option shall be subject to the satisfaction of all applicable federal, state and local income and employment tax withholding requirements, arising by reason of this option being treated as a non-statutory option or otherwise.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Open Solutions Inc)

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