Common use of Exit Options Clause in Contracts

Exit Options. 602.90 of the Exit Options (as such term is defined in the Option Agreement) held by ▇▇▇▇▇ will be forfeited upon the Retirement Date. Notwithstanding Section 4 of the Option Agreement, (A) the remaining 904.35 of the Exit Options held by ▇▇▇▇▇ shall remain eligible to vest if the applicable vesting conditions are satisfied prior to the expiration of the Exit Option and (B) such Exit Options shall expire on the earlier of (x) the Expiration Date (as such term is defined in the Option Agreement) or (y) such earlier date that ▇▇▇▇▇ (1) engages in “Competitive Activity” (as defined in the MESA) or (2) otherwise 075759-0006-Active.14041310 3 breaches any restrictive covenant in Article III of the Employment Agreement, Section 5 of the Option Agreement, Section 4.2(iv)-(v) of the MESA or Article IV herein.

Exit Options. 602.90 of the Exit Options (as such term is defined in the Option Agreement) held by ▇▇▇▇▇ will be forfeited upon the Retirement Date. Notwithstanding Section 4 of the Option Agreement, (A) the remaining 904.35 of the Exit Options held by ▇▇▇▇▇ shall remain eligible to vest if the applicable vesting conditions are satisfied prior to the expiration of the Exit Option and (B) such Exit Options shall expire on the earlier of (x) the Expiration Date (as such term is defined in the Option Agreement) or (y) such earlier date that ▇▇▇▇▇ (1) engages in “Competitive Activity” (as defined in the MESA) or (2) otherwise 075759-0006-Active.14041310 3 breaches any restrictive covenant in Article III of the Employment Agreement, Section 5 of the Option Agreement, Section 4.2(iv)-(v) of the MESA or Article IV herein.