Option Expiration Rules Sample Clauses

Option Expiration Rules. Any unexercisable portions of the Option will expire immediately when you cease to be employed by the Company. Exercisable portions of the Option will remain exercisable until the earliest of the following to occur, and then immediately expire: • the 90th day after termination of your employment by the Company without Cause or by you • termination of your employment by the Company for Cause • the earlier of (i) the first anniversary of your termination of employment due to a Disability and (ii) 30 days after you cease to have a Disability that resulted in the termination of your employment • the second anniversary of the termination of your employment due to your death • a violation by you of the covenants set forth in Exhibit A of the Employment Agreement • the Term Expiration Date Employee SCHOOL SPECIALTY, INC. By: /s/ Xxxxxxx X. Xxxxxx-Xxxxxx By: /s/ Xxxxxxx Xxxxxxx Xxxxxxx X. Xxxxxx-Xxxxxx Title: Chief Executive Officer Date: April 16, 2012 Date: April 16, 2012
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Option Expiration Rules. If the Option is not fully exercisable when you cease to be employed or become and remain a member of the Board (even if you continue service as an independent contractor), any unexercisable portion will then expire immediately (except as set forth below in connection with a Change in Control Event). If any portion of the Option is exercisable, that portion will remain exercisable until the first to occur of the following, each as defined further in the Plan, and then immediately expire: · The 90th day after your employment or other individual-service providing relationship ends due to your retirement (unless another provision applies) · The 90th day after your employment or other individual-service providing relationship ends due to any reason other than for your death or Disability (unless another provision applies) · For Disability, the 12 month anniversary of your termination of employment for Disability · The first anniversary of your death · The Term Expiration Date
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Option Expiration Rules. If the Option is not fully exercisable when you cease to be employed or a member of the Board of Directors (even if you continue service as an independent contractor), any unexercisable portion will then expire immediately (except as set forth below in connection with a Change in Control Event). If any portion of the Option is exercisable, that portion will remain exercisable until the first to occur of the following, each as defined further in the Plan if not otherwise defined below, and then immediately expire: · The 90th day after your employment or other individual-service providing relationship ends due to your retirement (unless another provision applies) · The 90th day after your employment or other individual-service providing relationship ends due to any reason other than for your death or Disability (unless another provision applies) · For Disability, the 12 month anniversary of your termination of employment for Disability · The first anniversary of your death · The Term Expiration Date Change in Control Event In accordance with Section 10 of the Plan, in the event of a Change in Control Event in which the successor company assumes or substitutes the Options, if your employment or service with such successor company (or the Company) or a subsidiary thereof is terminated within 12 months following such Change in Control Event either by the successor company (or the Company) or a subsidiary thereof without “Cause” or by you for “Good Reason” (each as defined below), then your Options outstanding as of such termination of employment will immediately vest, become fully exercisable, and may thereafter be exercised for 12 months.
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Option Expiration Rules 
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Related to Option Expiration Rules

  • Expiration Date Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and (ii) the date that is five Business Days prior to the Maturity Date.

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • Term; Exercise Upon Expiration This warrant is exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above; provided, however, that if the Company completes its initial public offering within the three-year period immediately prior to the Expiration Date, the Expiration Date shall automatically be extended until the third anniversary of the effective date of the Company’s initial public offering. If this warrant has not been exercised prior to the Expiration Date, this warrant shall be deemed to have been automatically exercised on the Expiration Date by “cashless” conversion pursuant to Section 1.2.

  • Offer Expiration This offer to purchase the Property as outlined in this Agreement shall be deemed revoked and the Xxxxxxx Money shall be returned unless this Agreement is signed by Seller and a copy of this Agreement is personally given to the Buyer by , 20 at : ☐ AM ☐ PM.

  • Expiration of Warrant This Warrant shall expire on the five (5) year anniversary of the Base Date (the “Expiration Date”).

  • Expiration of Warrants Immediately after the Expiry Time, all rights under any Warrant in respect of which the right of acquisition provided for herein shall not have been exercised shall cease and terminate and each Warrant shall be void and of no further force or effect.

  • Automatic Cashless Exercise upon Expiration In the event that, upon the Expiration Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as determined in accordance with Section 1.3 above is greater than the Warrant Price in effect on such date, then this Warrant shall automatically be deemed on and as of such date to be exercised pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not previously have been exercised, and the Company shall, within a reasonable time, deliver a certificate representing the Shares (or such other securities) issued upon such exercise to Holder.

  • Exercise Prior to Expiration To the extent this Warrant is not previously exercised as to all of the Shares subject hereto, and if the fair market value of one share of the Series Preferred is greater than the Warrant Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 10.2 above (even if not surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Series Preferred upon such expiration shall be determined pursuant to Section 10.2(c). To the extent this Warrant or any portion thereof is deemed automatically exercised pursuant to this Section 10.3, the Company agrees to promptly notify the holder hereof of the number of Shares, if any, the holder hereof is to receive by reason of such automatic exercise.

  • Term Automatic Cashless Exercise Upon Expiration 5.1.1 This Warrant is exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above; provided, however, that if the Company completes its initial public offering within the 270-day period immediately prior to the Expiration Date, the Expiration Date shall automatically be extended until 270 days after the effective date of the Company’s initial public offering.

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

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