Common use of TERM OF GRANT Clause in Contracts

TERM OF GRANT. The Options subject to in this Agreement shall expire 10 years from the Grant Date. In the event that the employment of the Grantee terminates, unless a Notice of Exercise has been given to the Company from the Grantee, all vested Options shall expire on the 30th day after termination of employment, except in the case of death or Disability, in which case the vested Options would terminate on the first anniversary of the date of death or Disability. Any Options which are unvested at the date of termination of employment will expire on the date of termination, and shall be forfeited.

Appears in 5 contracts

Samples: Option Award Agreement (Community Choice Financial Inc.), Option Award Agreement (Community Choice Financial Inc.), Option Award Agreement (Community Choice Financial Inc.)

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