Common use of Expiration Upon Termination of Employment Clause in Contracts

Expiration Upon Termination of Employment. Any portion of the Option that was not vested and exercisable on the Termination Date shall expire on such date and may not be exercised thereafter under any circumstance. Any portion of the Option that was vested and exercisable on the Termination Date shall expire on the earlier of (i) 90 days after the Termination Date (or 6 months after the Termination Date if the termination was caused by Optionee's death or disability) and (ii) the Expiration Date and may not be exercised thereafter under any circumstance.

Appears in 2 contracts

Samples: Stock Option Agreement (Therma Wave Inc), Stock Option Agreement (Therma Wave Inc)

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Expiration Upon Termination of Employment. Any portion of the Option that was not vested and exercisable on the Termination Date shall expire on such date and may not be exercised thereafter under any circumstance. Any portion of the Option that was vested and exercisable on the Termination Date shall expire on the earlier of (i) 90 days three months after the Termination Date (or 6 12 months after the Termination Date if the termination was caused by Optionee's death ’s death, disability or disabilityretirement) and (ii) the Expiration Date and may not be exercised thereafter under any circumstance.

Appears in 2 contracts

Samples: Stock Option Agreement (Therma Wave Inc), Stock Option Agreement (Therma Wave Inc)

Expiration Upon Termination of Employment. Any portion of the Option that was not vested and exercisable on the Termination Date shall expire on such date and may not be exercised thereafter under any circumstance. Any portion of the Option that was vested and exercisable on the Termination Date shall expire on the earlier of (i) 90 days three months after the Termination Date (or 6 12 months after the Termination Date if the termination was caused by Optionee's death death, disability or disabilityretirement) and (ii) the Expiration Date and may not be exercised thereafter under any circumstance.. Non-

Appears in 1 contract

Samples: Stock Option Agreement (Therma Wave Inc)

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Expiration Upon Termination of Employment. Any portion of the Option that was not vested and exercisable on the Termination Date shall expire on such date and may not be exercised thereafter under any circumstance. Any portion of the Option that was vested and exercisable on the Termination Date shall expire on the earlier of (i) 90 days after the Termination Date (or 6 months after the Termination Date if the termination was caused by Optionee's death or disability) and (ii) the Expiration Date and may not be exercised thereafter under any circumstance.

Appears in 1 contract

Samples: Stock Option Agreement (1 800 Contacts Inc)

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