Term and Expiration of Options Sample Clauses

Term and Expiration of Options. Subject to earlier expiration or termination as provided herein or in the Plan, all of the Options shall expire and no longer be exercisable at the close of business on the day immediately preceding the tenth anniversary of the Option Grant Date.
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Term and Expiration of Options. Subject to Section 7(q), except as otherwise specifically provided in a Participant's Award Agreement, the term of an Option shall expire on the first to occur of the following events:
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Term and Expiration of Options. The basic term of the Options shall be three (3) years from the effective date that the Options are granted, i.e., all vested Options must be exercised by Executive within three (3) years after May 21, 2012; provided, however, notwithstanding the foregoing provisions of this Paragraph 3.4.3, all vested Options not exercised by Executive as of the date of the expiration of the Term (of Executive’s employment with the Company) must be exercised by Executive within sixty (60) days after the date of such expiration of the Term; and provided further, all vested Option not timely exercised by Executive in accordance with the provisions of this Paragraph 3.4 shall be deemed conclusively to be irrevocably expired and void.
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Term and Expiration of Options 
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Related to Term and Expiration of Options

  • 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:

  • Term and Expiration This Agreement shall be effective as of the Effective Date and unless terminated earlier pursuant to Section 9.2 or 9.3, this Agreement shall continue in effect until expiration of all royalty obligations hereunder. Upon expiration of all royalty obligations under this Agreement, such licenses to Merck pursuant to Sections 3.1(a), 3.1(b) and 3.2 as were in effect immediately prior to such expiration shall become fully paid-up, perpetual licenses. *** Confidential Treatment Requested

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

  • Term and Exercise of Option (a) The term of this Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein.

  • Termination of Options The Options, which become exercisable as provided in paragraphs 3 and 4 above, shall terminate and be of no force or effect as follows:

  • Termination of Option (a) Any unexercised portion of the Option shall automatically and without notice terminate and become null and void at the time of the earliest to occur of:

  • Exercisability of Options Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine in its sole discretion. After an Option is granted, the Committee, in its sole discretion, may accelerate the exercisability of the Option.

  • Vesting and Exercisability of Option The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.

  • Exercisability of Option Unless otherwise provided in this Agreement or the Plan, this Option shall entitle the Participant to purchase, in whole at any time or in part from time to time, to the extent the Option is vested in accordance with the vesting schedule herein, the Shares subject to this Option, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised or terminated as herein provided, during the remaining Option Period.

  • Termination and Expiration 17.1 This Agreement shall become effective upon the Effective Date.

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