Termination of Directorship. If the Optionee ceases to be a director of the Company, other than by reason of death at a time when the Optionee holds the Option, the Optionee may exercise such Option within the original term of the Option, as to all or any of the shares fully vested at the time.
Appears in 5 contracts
Samples: Qualified Stock Option Agreement (Galaxy Nutritional Foods Inc), Qualified Stock Option Agreement (Galaxy Nutritional Foods Inc), Qualified Stock Option Agreement (Galaxy Nutritional Foods Inc)
Termination of Directorship. If In the event the Optionee ceases to be a director member of the Board of Directors of the Company, other than by reason any unexercised portion of death at a time when the Optionee holds Option may be exercised until the Option, the Optionee may exercise such Option within the original term expiration of the Option, as to all or any of the shares fully vested at the time.
Appears in 2 contracts
Samples: Director Share Option Agreement (Partnerre LTD), Director Share Option Agreement (Partnerre LTD)
Termination of Directorship. If In the event the Optionee ceases to be a ----------------------------- director of the Company, Company other than by reason of death at a time when the Optionee holds the Option, the Optionee may exercise such Option within the original term of the Option, as to all or any of the shares fully vested covered thereby, at the timetime or times such exercise is permitted under the terms of this Agreement.
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