Term and Termination of Options Sample Clauses

Term and Termination of Options. The “Expiration Date” for the Options shall be determined as follows:
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Term and Termination of Options. This option expires on December 22, 2001 at 5 p.m., New York time, whether or not it has been duly exercised. Notwithstanding anything herein to the contrary, this option shall immediately terminate, lapse and expire upon the occurrence of any of the following: (i) your refusal, prior to December 31, 1999, to act at the Company's request as Chief Executive Officer of the Company; (ii) your refusal, prior to December 31, 2001, to act at the Company's request as a director of the Company; (iii) your removal as Chief Executive Officer by the Company With Cause (as defined below) or (iv) your removal as a director by the Company "for cause" pursuant to the procedures set forth in the Company's charter. For purposes of this Section 6, the term "With Cause" shall mean (a) your willful failure to perform your reasonable responsibilities and duties attendant to your position with the Company or (b) your indictment for any felony. If you cease being either Chief Executive Officer or a director of the Company other than by reason of (i) through (iv) above, including without limitation by reason of your death or Disability, this option shall continue in full force and effect until its expiration on December 22, 2001.
Term and Termination of Options. The Options vest immediately on the Grant Date and expire on the earlier of September 1, 2017, or on the date that the Company provides the Optionee written notice of an Event of Default pursuant to the terms of that Consulting Agreement between the Company and the Optionee dated effective as of September 1, 2015 (the “Consulting Agreement”), provided that, the Event of Default listed in Section 3.2(b) or (c) of the Consulting Agreement remains uncured within the prescribed period (the “Expiration Date”).