Common use of Term; Forfeiture Clause in Contracts

Term; Forfeiture. a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to death; iii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to the Participant’s Total and Permanent Disability; iv. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service by the Company without Cause (as defined below); v. immediately upon the Participant’s Termination of Service by the Company for Cause; vi. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service for any reason not otherwise specified in this Section 4.a.; vii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Retirement,; and

Appears in 1 contract

Sources: Nonqualified Stock Option Agreement (InspireMD, Inc.)

Term; Forfeiture. a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve six (126) months following the date of the Participant’s Termination of Service due to death; iii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to the Participant’s Total and Permanent DisabilityDisability or Retirement with the consent of the Administrator; iv. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service by the Company without Cause (as defined below); v. immediately upon the Participant’s Termination of Service by the Company for Cause; vi. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service for any reason not otherwise specified in this Section 4.a.; vii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Retirement,; , and

Appears in 1 contract

Sources: Stock Option Agreement (InspireMD, Inc.)

Term; Forfeiture. a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to death; iii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to the Participant’s Total and Permanent DisabilityDisability or Retirement with the consent of the Administrator; iv. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service by the Company without Cause (as defined below); v. immediately upon the Participant’s Termination of Service by the Company for Cause; vi. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service for any reason not otherwise specified in this Section 4.a.; vii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Retirement,; , and

Appears in 1 contract

Sources: Stock Option Agreement (InspireMD, Inc.)

Term; Forfeiture. a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve six (126) months following the date of the Participant’s Termination of Service due to death; iii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to the Participant’s Total and Permanent Disability; iv. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service by the Company without Cause (as defined below); v. immediately upon the Participant’s Termination of Service by the Company for Cause; vi. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service for any reason not otherwise specified in this Section 4.a.; vii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Retirement,; and

Appears in 1 contract

Sources: Nonqualified Stock Option Agreement (InspireMD, Inc.)

Term; Forfeiture. a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve six (126) months following the date of the Participant’s Termination of Service due to death; iii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to the Participant’s Total and Permanent DisabilityDisability or Retirement with the consent of the Administrator; iv. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service by the Company without Cause (as defined below); v. immediately upon the Participant’s Termination of Service by the Company for Cause; vi. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service for any reason not otherwise specified in this Section 4.a.; vii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Retirement,, or, solely to the extent any of the Optioned Shares are not vested as of the date twelve (12) months following the date of the Participant’s Retirement, ninety (90) days after the date on which such Optioned Shares vest; and

Appears in 1 contract

Sources: Stock Option Agreement (InspireMD, Inc.)

Term; Forfeiture. a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve six (126) months following the date of the Participant’s Termination of Service due to death; iii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to the Participant’s Total and Permanent DisabilityDisability or Retirement with the consent of the Administrator; iv. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service by the Company without Cause (as defined below); v. immediately upon the Participant’s Termination of Service by the Company for Cause; vi. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service for any reason not otherwise specified in this Section 4.a.; vii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Retirement,; and

Appears in 1 contract

Sources: Nonqualified Stock Option Agreement (InspireMD, Inc.)

Term; Forfeiture. a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the ParticipantOptionee’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve twenty-four (1224) months following the date of the ParticipantOptionee’s Termination of Service due to death; iii. 5 p.m. on the date which is twelve (12) months following the date of the ParticipantOptionee’s Termination of Service due to the ParticipantOptionee’s Total and Permanent Disability; iv. 5 p.m. on the date which is ninety (90) days following the date of the ParticipantOptionee’s Termination of Service by the Company without Cause (as defined below)Cause; v. immediately upon the ParticipantOptionee’s Termination of Service by the Company for Cause; vi. 5 p.m. on the date which is ninety thirty (9030) days following the date of the ParticipantOptionee’s Termination of Service for any reason not otherwise specified in this Section 4.a.;; and vii. 5 p.m. on the date which is twelve (12) months following the date Company causes any portion of the Participant’s Retirement,; andStock Option to be forfeited pursuant to Section 7 hereof.

Appears in 1 contract

Sources: Nonqualified Stock Option Agreement (InspireMD, Inc.)

Term; Forfeiture. a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur: i. 5 p.m. on the date the Option Period terminates; ii. 5 p.m. on the date which is twelve six (126) months following the date of the Participant’s Termination of Service due to death; iii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Termination of Service due to the Participant’s Total and Permanent Disability; iv. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service by the Company without Cause (as defined below); v. immediately upon the Participant’s Termination of Service by the Company for Cause; vi. 5 p.m. on the date which is ninety (90) days following the date of the Participant’s Termination of Service for any reason not otherwise specified in this Section 4.a.; vii. 5 p.m. on the date which is twelve (12) months following the date of the Participant’s Retirement,; and

Appears in 1 contract

Sources: Nonqualified Stock Option Agreement (InspireMD, Inc.)