Common use of Right to Terminate Option Clause in Contracts

Right to Terminate Option. The Optionee understands and agrees that the Company is granting to the Optionee the Option to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its Affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if, while any portion of the Option is outstanding, (a) the Optionee engages in any Prohibited Disclosure or breaches or violates the Optionee’s obligations relating to the non-disclosure or non-use of confidential or proprietary information under any Employee Agreement to which the Optionee is a party, or (b) the Optionee engages in any Prohibited Solicitation or breaches or violates any non-solicitation obligations under any Employee Agreement to which the Optionee is a party, or (c) the Optionee engages in any Prohibited Transfer, or (d) the Optionee engages in any Competitive Activity or breaches or violates any non-competition obligations under any Employee Agreement to which the Optionee is a party, or (e) the Optionee is convicted of a felony against the Company or any of its Affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Exercisable Portion of the Option), or any unexercised portion thereof, which shall then be of no further force and effect.

Right to Terminate Option. The Optionee understands and agrees that the Company is granting to the Optionee the Option to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its Affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if, while any portion of the Option is outstanding, (a) the Optionee engages in any Prohibited Disclosure or breaches or violates the Optionee’s obligations relating to the non-disclosure or non-use of confidential or proprietary information under any Employee Agreement to which the Optionee is a partyEmployment Agreement, or (b) the Optionee engages in any Prohibited Solicitation or breaches or violates any non-solicitation or non-competition obligations under any the Employee Agreement to which the Optionee is a partyAgreement, or (c) the Optionee engages in any Prohibited Transfer, Transfer or (d) the Optionee engages in any Competitive Activity or breaches or violates any non-competition obligations under any Employee Agreement to which the Optionee is a party, or (e) the Optionee is convicted of a felony against the Company or any of its Affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Exercisable Portion of the Option), or any unexercised portion thereof, which shall then be of no further force and effect.

Right to Terminate Option. The Optionee understands and agrees that the Company is granting has granted this Option to the Optionee the Option to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its Affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, ifto the extent permitted by applicable law, while any portion of the Option is outstanding, if (a) the Optionee engages in any Prohibited Disclosure or breaches or violates the Optionee’s obligations relating to the non-disclosure or non-use of confidential or proprietary information under any Employee Restrictive Agreement to which the Optionee is a party, or (b) the Optionee engages in any Prohibited Solicitation or breaches or violates any non-solicitation obligations under any Employee Restrictive Agreement to which the Optionee is a party, or (c) the Optionee engages in any Prohibited Transfer, or (d) the Optionee engages in any Competitive Activity or breaches or violates any non-competition obligations under any Employee Restrictive Agreement to which the Optionee is a party, or (e) the Optionee is convicted of a felony against the Company or any of its Affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Exercisable Portion of the OptionVested Portion), or any unexercised portion thereof, which shall then be of no further force and effect.

Right to Terminate Option. The Optionee understands and agrees that the Company is granting has granted this Option to the Optionee the Option to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its Affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if, while any portion of the Option is outstanding, if (a) the Optionee engages in any Prohibited Disclosure or breaches or materially violates the Optionee’s obligations relating to the non-disclosure or non-use of confidential or proprietary information under any Employee Restrictive Agreement to which the Optionee is a party, or (b) the Optionee engages in any Prohibited Solicitation or materially breaches or violates any the Optionee’s obligations relating to non-solicitation obligations disparagement under any Employee Restrictive Agreement to which the Optionee is a party, or (c) the Optionee engages in any Prohibited Transferactivity prohibited by Section 7.1 of this Agreement, or (d) the Optionee engages in any Competitive Activity or materially breaches or violates any non-competition solicitation obligations under any Employee Restrictive Agreement to which the Optionee is a party, or (e) the Optionee breaches or violates any noncompetition obligations under any Restrictive Agreement to which the Optionee is a party, or or (f) the Optionee is convicted of a felony against the Company or any of its Affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Exercisable Vested Portion of the Option), or any unexercised portion thereof, which shall then be of no further force and effect. “Restrictive Agreement” shall mean any agreement between the Company or any Subsidiary and the Optionee that contains non-competition, non-solicitation, non-hire, non-disparagement, or confidentiality restrictions applicable to the Optionee.

Right to Terminate Option. The Optionee understands and agrees that the Company is granting has granted this Option to the Optionee the Option to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its Affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if, while any portion of the Option is outstanding, if (a) the Optionee engages in any Prohibited Disclosure or breaches or violates the Optionee’s obligations relating to the non-disclosure or non-use of confidential or proprietary information under any Employee Restrictive Agreement to which the Optionee is a party, or (b) the Optionee engages in any Prohibited Solicitation or breaches or violates any the Optionee’s obligations relating to non-solicitation obligations disparagement under any Employee Restrictive Agreement to which the Optionee is a party, or (c) the Optionee engages in any Prohibited Transferactivity prohibited by Section 7.1 of this Agreement, or (d) the Optionee engages in any Competitive Activity or breaches or violates any non-competition solicitation obligations under any Employee Restrictive Agreement to which the Optionee is a party, or (e) the Optionee breaches or violates any non-competition obligations under any Restrictive Agreement to which the Optionee is a party, or (f) the Optionee is convicted of a felony against the Company or any of its Affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Exercisable Vested Portion of the Option), or any unexercised portion thereof, which shall then be of no further force and effect. “Restrictive Agreement” shall mean any agreement between the Company or any Subsidiary and the Optionee that contains non-competition, non-solicitation, non-hire, non-disparagement, or confidentiality restrictions applicable to the Optionee.

Right to Terminate Option. The Optionee understands and agrees that the Company is granting has granted this Option to the Optionee the Option to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its Affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if, while any portion of the Option is outstanding, if (a) the Optionee engages in any Prohibited Disclosure or breaches or violates the Optionee’s obligations relating to the non-disclosure or non-use of confidential or proprietary information under any Employee Restrictive Agreement to which the Optionee is a party, or (b) the Optionee engages in any Prohibited Solicitation or breaches or violates any non-solicitation obligations under any Employee Restrictive Agreement to which the Optionee is a party, or (c) the Optionee engages in any Prohibited Transfer, or (d) the Optionee engages in any Competitive Activity or breaches or violates any non-competition obligations under any Employee Restrictive Agreement to which the Optionee is a party, or (e) the Optionee is convicted of a felony against the Company or any of its Affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Exercisable Vested Portion of the Option), or any unexercised portion thereof, which shall then be of no further force and effect.

Right to Terminate Option. The Optionee understands and agrees that the Company is granting has granted this Option to the Optionee the Option to reward the Optionee for the Optionee’s future efforts and loyalty to the Company and its Affiliates by giving the Optionee the opportunity to participate in the potential future appreciation of the Company. Accordingly, if, while any portion of the Option is outstanding, if (a) the Optionee engages in any Prohibited Disclosure or breaches or violates the Optionee’s obligations relating to the non-disclosure or non-use of confidential or proprietary information under any Employee Restrictive Agreement to which the Optionee is a party, including Exhibit A hereto, or (b) the Optionee breaches or violates the Optionee’s obligations relating to non-disparagement under any Restrictive Agreement to which the Optionee is a party, including Exhibit A hereto, or (c) the Optionee engages in any Prohibited Solicitation activity prohibited by Section 7.1 of this Agreement, or (d) the Optionee breaches or violates any non-solicitation obligations under any Employee Restrictive Agreement to which the Optionee is a party, including Exhibit A hereto, or (ce) the Optionee engages in any Prohibited Transfer, or (d) the Optionee engages in any Competitive Activity or breaches or violates any non-competition obligations under any Employee Restrictive Agreement to which the Optionee is a party, including Exhibit A hereto, or (ef) the Optionee is convicted of a felony against the Company or any of its Affiliates, then, in addition to any other rights and remedies available to the Company, the Company shall be entitled, at its option, exercisable by written notice, to terminate the Option (including the Exercisable Vested Portion of the Option), or any unexercised portion thereof, which shall then be of no further force and effect.