Common use of Misconduct Clause in Contracts

Misconduct. Notwithstanding anything to the contrary in this Agreement, the Options shall terminate in their entirety, regardless of whether the Options are vested, immediately upon Optionee’s discharge of employment or other service relationship for Cause or upon Optionee’s commission of any of the following acts during any period following the cessation of Optionee’s employment or other service relationship during which the Options otherwise would be exercisable: (i) fraud on or misappropriation of any funds or property of the Corporation, or (ii) breach by Optionee of any provision of any employment, non-disclosure, non-competition, non-solicitation, assignment of inventions, or other similar agreement executed by Optionee for the benefit of the Company, as determined by the Administrator, which determination will be conclusive.

Appears in 8 contracts

Samples: Sample Non Qualified Stock Option Grant Agreement (FOCUS GOLD Corp), Sample Non Qualified Stock Option Grant Agreement (Nitro Petroleum Inc.), 2010 Share Incentive Plan (Wordlogic Corp)

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Misconduct. Notwithstanding anything to the contrary in this Agreement, the Options shall terminate in their entirety, regardless of whether the Options are vested, immediately upon Optionee’s discharge of employment or other service relationship for Cause or upon Optionee’s commission of any of the following acts during any period following the cessation of Optionee’s employment or other service relationship during which the Options otherwise would be exercisable: (i) fraud on or misappropriation of any funds or property of the CorporationBank, or (ii) breach by Optionee of any provision of any employment, non-disclosure, non-competition, non-solicitation, assignment of inventions, or other similar agreement executed by Optionee for the benefit of the CompanyBank, as determined by the Administrator, which determination will be conclusive.

Appears in 6 contracts

Samples: Sample Qualified Stock Option Grant Agreement (Friendly Energy Exploration), Stock Incentive Plan (Sino Payments, Inc.), Powrtec Corporation (Powrtec Corp)

Misconduct. Notwithstanding anything to the contrary in this Agreement, the Options shall terminate in their entirety, regardless of whether the Options are vested, immediately upon Optionee’s discharge of employment or other service relationship for Cause or upon Optionee’s commission of any of the following acts during any period following the cessation of Optionee’s employment or other service relationship during which the Options otherwise would be exercisable: (i) fraud on or misappropriation of any funds or property of the Corporation, Bank; or (ii) breach by Optionee of any provision of any employment, non-disclosure, non-competition, non-solicitation, assignment of inventions, or other similar agreement executed by Optionee for the benefit of the Bank or the Company, as determined by the Administrator, which determination will be conclusive.

Appears in 6 contracts

Samples: Incentive Stock Option Grant Agreement (Howard Bancorp Inc), Stock Option Grant Agreement (WSB Holdings Inc), Incentive Stock Option Grant Agreement (WSB Holdings Inc)

Misconduct. Notwithstanding anything to the contrary in this Agreement, the Options shall terminate in their entirety, regardless of whether the Options are vested, immediately upon Optionee’s discharge of employment or other service relationship for Cause or upon Optionee’s commission of any of the following acts during any period following the cessation of Optionee’s employment or other service relationship during which the Options otherwise would be exercisable: (i) fraud on or misappropriation of any funds or property of the Corporation, or (ii) breach by Optionee of any provision of any employment, non-disclosure, non-competition, non-solicitation, assignment of inventions, or other similar agreement executed by Optionee for the benefit of the CompanyCorporation, as determined by the Administrator, which determination will be conclusive.

Appears in 5 contracts

Samples: Qualified Stock Option Grant Agreement (Go-Page Corp), Sample Qualified Stock Option Grant Agreement (FOCUS GOLD Corp), Qualified Stock Option Grant Agreement (Scio Diamond Technology Corp)

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Misconduct. Notwithstanding anything to the contrary in this Agreement, the Options shall terminate in their entirety, regardless of whether the Options are vested, immediately upon the Optionee’s discharge of employment or other service relationship for Cause or upon the Optionee’s commission of any of the following acts during any period following the cessation of Optionee’s employment or other service relationship during which the Options otherwise would be exercisable: (i) fraud on or misappropriation of any funds or property of the CorporationCompany, or (ii) breach by the Optionee of any provision of any employment, non-disclosure, non-competition, non-solicitation, assignment of inventions, or other similar agreement executed by the Optionee for the benefit of the Company, as determined by the Administrator, which determination will be conclusive.

Appears in 4 contracts

Samples: Nonstatutory Stock Option Grant Agreement (Telecommunication Systems Inc /Fa/), Stock Option Grant Agreement (Telecommunication Systems Inc /Fa/), Nonstatutory Stock Option Grant Agreement (Telecommunication Systems Inc /Fa/)

Misconduct. Notwithstanding anything to the contrary in this Agreement, the Options shall terminate in their entirety, regardless of whether the Options are vested, immediately upon Optionee’s discharge of employment or other service relationship for Cause or upon Optionee’s commission of any of the following acts during any period following the cessation of Optionee’s employment or other service relationship during which the Options otherwise would be exercisable: (i) fraud on or misappropriation or embezzlement of any funds or property of the Corporation, Company or any Affiliate; or (ii) breach by Optionee of any provision of any employment, non-disclosure, non-competition, non-solicitation, assignment of inventions, or other similar agreement executed by Optionee for the benefit of the CompanyCompany or any Affiliate, as determined by the Administrator, which determination will be conclusive.

Appears in 2 contracts

Samples: Incentive Stock Option Grant Agreement (Mechanical Technology Inc), Stock Option Grant Agreement (Mechanical Technology Inc)

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