{"component": "clause", "props": {"groups": [{"samples": [{"hash": "7w10Jr301c1", "uri": "/contracts/7w10Jr301c1#option-exercisability", "label": "Stock Option Agreement (Lesaka Technologies Inc)", "score": 29.1006164551, "published": true}, {"hash": "kTmvSxvAA0R", "uri": "/contracts/kTmvSxvAA0R#option-exercisability", "label": "Stock Option Agreement (Net 1 Ueps Technologies Inc)", "score": 23.6420269012, "published": true}, {"hash": "e5OAvgQfM7f", "uri": "/contracts/e5OAvgQfM7f#option-exercisability", "label": "Stock Option Agreement (Net 1 Ueps Technologies Inc)", "score": 21.0, "published": true}], "size": 6, "snippet": "The Option shall terminate immediately upon the Employee\u2019s termination of Service with the Company and its affiliates to the extent that it is not exercisable on the date such Service terminates. 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Moreover, in no event may any such option be exercised after the original maximum term of the option. 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If the Optionee\u2019s Service is terminated for Cause, the Option shall terminate and cease to be exercisable immediately upon such termination of Service.", "snippet_links": [{"key": "the-optionee", "type": "definition", "offset": [3, 15]}, {"key": "service-to-the-company", "type": "clause", "offset": [37, 59]}, {"key": "for-any-reason", "type": "clause", "offset": [83, 97]}, {"key": "other-than-for-cause", "type": "definition", "offset": [98, 118]}, {"key": "section-41", "type": "clause", "offset": [176, 187]}, {"key": "terminated-for-cause", "type": "clause", "offset": [218, 238]}, {"key": "immediately-upon", "type": "clause", "offset": [295, 311]}, {"key": "termination-of-service", "type": "clause", "offset": [317, 339]}], "hash": "1689ef96e7f69cc30f085cf7112ba4ca", "id": 8}, {"samples": [{"hash": "l9qW1nmp6Pt", "uri": "/contracts/l9qW1nmp6Pt#option-exercisability", "label": "Nonstatutory Stock Option Agreement (TearLab Corp)", "score": 25.3011627197, "published": true}, {"hash": 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"also_ask": ["What conditions or triggers should be specified to maximize strategic control over option exercisability?", "Which drafting elements are essential to prevent ambiguity or disputes regarding the timing and manner of exercise?", "What are the most common pitfalls or fatal flaws that could render the option unenforceable in court?", "How does this exercisability clause compare to market standards or statutory requirements in similar transactions?", "What evidence or documentation is typically required to prove valid exercise if challenged in litigation?"], "drafting_tip": "Specify the conditions for exercising the option to prevent disputes; set clear timeframes to ensure enforceability; define notice requirements to avoid ambiguity.", "explanation": "The Option Exercisability clause defines the conditions under which a party may exercise a contractual option, such as the right to purchase additional goods, extend a lease, or acquire shares. It typically specifies the time frame, method of notice, and any prerequisites that must be met before the option can be validly exercised. By clearly outlining these requirements, the clause ensures both parties understand when and how the option can be activated, thereby reducing the risk of disputes and providing certainty regarding the exercise of contractual rights."}, "json": true, "cursor": ""}}