Common use of Termination of Business Relationship Clause in Contracts

Termination of Business Relationship. If the Optionee ceases to maintain a Business Relationship with the Company (or any affiliated corporation) for any reason other than death or disability, termination without Cause or termination due to a change in control of the Company, no further installments of this Option shall become exercisable and this Option shall terminate 90 days after the date the Business Relationship ceases, but in no event later than the scheduled expiration date. In such a case, the Optionee's only rights to exercise options hereunder shall be those which are properly exercisable before the termination of this Option, and the Optionee may exercise this Option for the number of Option Shares which have vested and become exercisable prior to the date of termination.

Appears in 3 contracts

Samples: Qualified Stock Option Agreement (Focus Enhancements Inc), Focus Enhancements Inc, Focus Enhancements Inc

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Termination of Business Relationship. If Subject to Section 17, if the ------------------------------------ Optionee ceases to maintain a Business Relationship with the Company (or any affiliated corporation) for any reason ), other than by reason of death or disability, termination without Cause or termination due to a change disability as defined in control of the CompanySection 5, no further installments of this Option shall become exercisable and this Option shall terminate 90 days after the date the Business Relationship ceases, but in no event later than the scheduled expiration date. In such a case, the Optionee's only rights to exercise options hereunder shall be those which are properly exercisable before the termination of this Option, and the Optionee may exercise this Option for the number of Option Shares which have vested and become exercisable prior to the date of termination.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Astea International Inc)

Termination of Business Relationship. If the Optionee ceases to maintain a Business Relationship with the Company (or any affiliated corporation) for any reason other than death or disability, termination without Cause or termination due to a change in control of the Companyreason, no further installments of this Option shall become exercisable except as set forth in Section 2 above, and this Option shall terminate 90 days after the date the Business Relationship ceases, but in no event later than the scheduled expiration date. In such a case, the Optionee's ’s only rights to exercise options hereunder shall be those which are properly exercisable before the termination of this Option, and the Optionee may exercise this Option for the number of Option Shares which have vested and become exercisable prior to the date of termination.

Appears in 1 contract

Samples: Qualified Stock Option Agreement (Focus Enhancements Inc)

Termination of Business Relationship. If Subject to Sections 17 and ------------------------------------ 19, if the Optionee ceases to maintain a Business Relationship with the Company (or any affiliated corporation) for any reason ), other than by reason of death or disability, termination without Cause or termination due to a change disability as defined in control of the CompanySection 5, no further installments of this Option shall become exercisable and this Option shall terminate 90 days after the date the Business Relationship ceases, but in no event later than the scheduled expiration date. In such a case, the Optionee's only rights to exercise options hereunder shall be those which are properly exercisable before the termination of this Option, and the Optionee may exercise this Option for the number of Option Shares which have vested and become exercisable prior to the date of termination.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Astea International Inc)

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Termination of Business Relationship. If Subject to Section 15, if the ------------------------------------ Optionee ceases to maintain a Business Relationship with the Company (or any affiliated corporation) for any reason ), other than by reason of death or disability, termination without Cause or termination due to a change disability as defined in control of the CompanySection 4, no further installments of this Option shall become exercisable and this Option shall terminate 90 days after the date the Business Relationship ceases, but in no event later than the scheduled expiration date. In such a case, the Optionee's only rights to exercise options hereunder shall be those which are properly exercisable before the termination of this Option, and the Optionee may exercise this Option for the number of Option Shares which have vested and become exercisable prior to the date of termination.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Astea International Inc)

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