Common use of Term of Option; Continuation of Service Clause in Contracts

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such four year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 4 contracts

Samples: Employee Nonstatutory Stock Option Agreement (Originclear, Inc.), Employee Nonstatutory Stock Option Agreement (Originclear, Inc.), Employee Nonstatutory Stock Option Agreement (Originclear, Inc.)

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Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four terminate, five (5) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such four five (5) year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 3 contracts

Samples: Consulting Agreement (Sunovia Energy Technologies Inc), Employee Nonstatutory Stock Option Agreement (Kesselring Holding Corporation.), Employee Nonstatutory Stock Option Agreement (Able Energy Inc)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four five years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such four five year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 3 contracts

Samples: Employee Nonstatutory Stock Option Agreement (Originclear, Inc.), Employee Nonstatutory Stock Option Agreement (Originclear, Inc.), Employee Nonstatutory Stock Option Agreement (Originclear, Inc.)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four 10 years from the date hereof. This Option shall earlier terminate subject to o Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's ’s employment if such termination occurs prior to the end of such four 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 3 contracts

Samples: Nonstatutory Stock Option Agreement (Octillion Corp), Nonstatutory Stock Option Agreement (Octillion Corp), Nonstatutory Stock Option Agreement (Octillion Corp)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four 10 years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's ’s employment if such termination occurs prior to the end of such four 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 2 contracts

Samples: Nonstatutory Stock Option Agreement (Hepalife Technologies Inc), Nonstatutory Stock Option Agreement (Hepalife Technologies Inc)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four 10 years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's ’s employment or affiliation as a Board Member if such termination occurs prior to the end of such four 10 year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by or affiliation with the Company or to interfere with the right of the Company to terminate such employment employment/affiliation or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 2 contracts

Samples: Nonstatutory Stock Option Agreement (Octillion Corp), Nonstatutory Stock Option Agreement (Octillion Corp)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four seven (7) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such four year periodTermination Date. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 2 contracts

Samples: Employee Nonstatutory Stock Option Agreement (Carbon Sciences, Inc.), Stock Option Agreement (Warp 9, Inc.)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four terminate, ten (10) years from the date hereof. This Option shall earlier terminate subject to Sections Section 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such four ten (10) year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 2 contracts

Samples: Employee Nonstatutory Stock Option Agreement (Tasker Capital Corp), Employee Nonstatutory Stock Option Agreement (Tasker Capital Corp)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four seven (7) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's ’s employment if such termination occurs prior to the end of such four year periodTermination Date. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 2 contracts

Samples: Nonstatutory Stock Option Agreement (BioSolar Inc), Nonstatutory Stock Option Agreement (BioSolar Inc)

Term of Option; Continuation of Service. This Option shall expire, and all rights of Optionee hereunder to purchase the Shares shall terminate four terminate, Five (5) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's ’s employment if such termination occurs prior to the end of such four Five (5) year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.. 

Appears in 1 contract

Samples: Employee Nonstatutory Stock Option Agreement (Emagin Corp)

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Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four terminate, five (5) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment as director if such termination occurs prior to the end of such four five (5) year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment role as director by the Company or to interfere with the right of the Company to terminate such employment role or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (AMP Holding Inc.)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four terminate, ten (10) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's ’s employment if such termination occurs prior to the end of such four ten (10) year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 1 contract

Samples: Employee Nonstatutory Stock Option Agreement (General Cannabis Corp)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four seven (7) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment or engagement if such termination occurs prior to the end of such four year periodTermination Date. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment or engagement by the Company or to interfere with the right of the Company to terminate such employment or engagement or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Machinetalker Inc)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four terminate, ten (10) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment if such termination occurs prior to the end of such four ten (10) year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Able Energy Inc)

Term of Option; Continuation of Service. This Option shall expire, and all rights hereunder to purchase the Shares shall terminate four terminate, five (5) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's employment service as a member of the Company’s board of directors if such termination occurs prior to the end of such four five-year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.

Appears in 1 contract

Samples: Nonstatutory Stock Option Agreement (Medizone International Inc)

Term of Option; Continuation of Service. This Option shall expire, and all rights of Optionee hereunder to purchase the Shares shall terminate four terminate, Seven (7) years from the date hereof. This Option shall earlier terminate subject to Sections 7 and 8 hereof upon, and as of the date of, the termination of Optionee's ’s employment if such termination occurs prior to the end of such four Seven (7) year period. Nothing contained herein shall confer upon Optionee the right to the continuation of his or her employment by the Company or to interfere with the right of the Company to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.. 

Appears in 1 contract

Samples: Employee Nonstatutory Stock Option Agreement (Emagin Corp)

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