Option Termination Date. In the event that a deposit in the amount of Four Million Five Hundred Thousand Dollars ($4,500,000) (the "Deposit") becomes non-refundable to the Buyer on or before December 9, 2005, subject to certain limited exceptions set forth in Article 12 of the Asset Purchase Agreement, the Option Termination Date shall automatically be extended to December 30, 2005. In the event that the Deposit does not become non-refundable, subject to certain limited exceptions set forth in Article 12 of the Asset Purchase Agreement, to the Buyer on or before December 9, 2005, this First Amendment shall automatically terminate and shall be of no further force or effect and the Option Agreement as unmodified by this First Amendment shall govern.
Option Termination Date. As used herein, the Option Termination Date shall mean 60 days after the earlier of (i) ten years from the date hereof or (ii) the date of a final judicial determination that Davix xxxe been properly terminated for "cause."
Option Termination Date. Section 1.1 Optionee...............................................
Option Termination Date. All of Executive’s Remaining Stock Options that were vested and exercisable at the Termination Date shall remain exercisable until the Stock Option Termination Date. Notwithstanding any other term or provision hereof, any of Executive’s stock options which are not vested at the Termination Date, and which are not Continuing Stock Options, shall automatically terminate upon the Termination Date. Except as otherwise expressly provided herein, all of the Remaining Stock Options shall continue to be subject to the Original Stock Option Award Documents. Notwithstanding the foregoing, in the event of Executive’s death prior to the Scheduled Expiration Date, all Continuing Stock Options shall vest on the date of Executive’s death and all Remaining Stock Options shall be exercisable for the period following Executive’s death determined under such Original Stock Option Award Documents on the same basis as though Executive was employed on the date of Executive’s death and regardless of when the Stock Option Termination Date would otherwise have occurred. However, any provisions in the Original Stock Option Award Documents relating to disability or change in control of the Company after the Termination Date shall not be operative with respect to any Remaining Stock Options.
Option Termination Date. Nothwithstanding any other provision of this Stock Option Agreement, the Option may be exercised on or before April 14, 2004 (the "Option Termination Date"), but only to the extent of 100,000 shares. Upon the close of business on the Option Termination Date, the Option and all rights thereunder (other than the Executive's right to Shares theretofore purchased under the Option) shall terminate and become null and void." Furthermore, Company agrees to waive the terms of Paragraph 5 of the Stock Option Agreement. Executive understands and agrees that he will not be granted any further options by the Company and that any prior agreement to grant options to Executive after October 14, 2002 is hereby cancelled, null and void.
