Termination of Employment Due to Death or Retirement. If Employment of the Optionee is terminated due to death or Retirement, the Option shall expire upon the earlier of (i) five years following the date of termination of Employment or (ii) expiration of the Option Period. The death of the Optionee following Retirement but prior to the expiration of the Option shall have no effect on the expiration of the Option.
Appears in 14 contracts
Samples: Nonqualified Stock Option Award Agreement (Marathon Petroleum Corp), Nonqualified Stock Option Award Agreement (Marathon Petroleum Corp), Nonqualified Stock Option Award Agreement (Marathon Oil Corp)
Termination of Employment Due to Death or Retirement. If Employment of the Optionee is terminated due to death or Retirement, the Option shall expire upon the earlier of (i) five three years following the date of termination of Employment or (ii) expiration of the Option Period. The death of the Optionee following Retirement but prior to the expiration of the Option shall have no effect on the expiration of the Option.
Appears in 4 contracts
Samples: Nonqualified Stock Option Award Agreement (Marathon Oil Corp), Nonqualified Stock Option Award Agreement (Marathon Oil Corp), Nonqualified Stock Option Award Agreement (Marathon Oil Corp)
Termination of Employment Due to Death or Retirement. If Employment of the Optionee Participant is terminated due to death or Retirement, the Option shall expire upon the earlier of (i) five years following the date of termination of Employment or (ii) expiration of the Option Period. The death of the Optionee Participant following Retirement but prior to the expiration of the Option shall have no effect on the expiration of the Option.
Appears in 2 contracts
Samples: Nonqualified Stock Option Award Agreement (Marathon Petroleum Corp), Nonqualified Stock Option Award Agreement (Marathon Petroleum Corp)
Termination of Employment Due to Death or Retirement. If Employment of the Optionee is terminated due to death or Retirement, the exercisable portion of the Option shall expire upon the earlier of (i) five three years following the date of termination of Employment or (ii) expiration of the Option Period. The death of the Optionee following Retirement but prior to the expiration of the Option shall have no effect on the expiration of the Option.
Appears in 1 contract
Samples: Nonqualified Stock Option Award Agreement (Marathon Oil Corp)
Termination of Employment Due to Death or Retirement. If Employment of the Optionee is terminated due to death or Retirement, the Option shall expire upon the earlier of (i) five years following the date of termination of Employment or (ii) expiration of the Option Period. The death of the Optionee following Retirement Retirement, but prior to the expiration of the Option Option, shall have no effect on the expiration of the Option.
Appears in 1 contract
Samples: Nonqualified Stock Option Award Agreement (Marathon Oil Corp)
