Common use of Termination of Employment (other than Disability or Death) Clause in Contracts

Termination of Employment (other than Disability or Death). If Participant’s employment with the Company or any Subsidiary is terminated for any reason other than disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such termination of employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s employment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employment, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of employment, or if Participant does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant under this Option shall be forfeited.

Appears in 17 contracts

Samples: 2004 Equity Incentive Plan (Waters Instruments Inc), Incentive Stock Option Agreement (Winland Electronics Inc), Incentive Stock Option Agreement (Analysts International Corp)

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Termination of Employment (other than Disability or Death). If Participant’s employment with Optionee ceases to be an employee of the Company or any Subsidiary is terminated for any reason other than because of disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such the termination of employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) above. In such period following the such termination of Participant’s employment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employmentthe date on which Optionee’s employment with the Company or Subsidiary terminated, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of employment, or if Participant Optionee does not exercise the Option within the time specified in this Paragraph 2(b2(c), all rights of Participant Optionee under this Option shall be forfeited.

Appears in 3 contracts

Samples: Nonqualified Stock Option Agreement (Datakey Inc), Nonqualified Stock Option Agreement (Datakey Inc), Nonqualified Stock Option Agreement (Datakey Inc)

Termination of Employment (other than Disability or Death). If Participant’s employment with the Company or any Subsidiary Affiliate is terminated for any reason other than disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such termination of employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s employment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employment, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of employment, or if Participant does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant under this Option shall be forfeited.

Appears in 3 contracts

Samples: Employment Agreement (Analysts International Corp), Employment Agreement (Analysts International Corp), Incentive Stock Option Agreement (Analysts International Corp)

Termination of Employment (other than Disability or Death). If Participant’s Optionee's employment with the Company or any Subsidiary is terminated for any reason other than because of disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such termination of employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s Optionee's employment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employment, employment but had not previously been exercised. To the extent this Option was not exercisable upon such termination of employment, employment or if Participant Optionee does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant Optionee under this Option shall be forfeited.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Webmd Corp), Nonqualified Stock Option Agreement (Webmd Corp)

Termination of Employment (other than Disability or Death). If Participant’s employment with Optionee ceases to be an employee of the Company or any Subsidiary is terminated an Affiliate for any reason other than disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such the termination of such employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s employmentsuch termination, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employmentthe date on which Optionee’s employment with the Company or Affiliate has terminated, but had not previously been exercised. To the extent this Option was not exercisable upon such the termination of such employment, or if Participant Optionee does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant Optionee under this Option shall be forfeited.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Analysts International Corp)

Termination of Employment (other than Disability or Death). If ParticipantOptionee’s employment with the Company or any Subsidiary is terminated for any reason other than because of disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such termination of employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) 2 above. In such period following the termination of ParticipantOptionee’s employment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employment, employment but had not previously been exercised. To the extent this Option was not exercisable upon such termination of employment, employment or if Participant Optionee does not exercise the Option within the time specified in this Paragraph 2(b2(c), all rights of Participant Optionee under this Option shall be forfeited.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Cardiovascular Systems Inc)

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Termination of Employment (other than Disability or Death). If Except as otherwise provided in Paragraph 4 hereof, if Participant’s employment with the Company or any Subsidiary is terminated for any reason other than disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such termination of employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s employment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employment, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of employment, or if Participant does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant under this Option shall be forfeited.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Makemusic, Inc.)

Termination of Employment (other than Disability or Death). If Participant’s employment with the Company or any Subsidiary is terminated for any reason other than disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such termination of employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s employment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employment, but had not previously been exercised. In such period following a Change in Control Termination, the Option shall vest immediately and be fully exercisable to the extent not previously exercised. To the extent this Option was not exercisable upon such termination of employment, or if Participant does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant under this Option shall be forfeited.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Analysts International Corp)

Termination of Employment (other than Disability or Death). If Participant’s 's employment with the Company or any Subsidiary is terminated for any reason other than disability or death, this Option shall completely terminate on the earlier of (i) the close of business on the three-month anniversary date of such termination of employment, and (ii) the expiration date of this Option stated in Paragraph 2(a) above. In such period following the termination of Participant’s 's employment, this Option shall be exercisable only to the extent the Option was exercisable on the vesting date immediately preceding such termination of employment, but had not previously been exercised. To the extent this Option was not exercisable upon such termination of employment, or if Participant does not exercise the Option within the time specified in this Paragraph 2(b), all rights of Participant under this Option shall be forfeited.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Scanner Technologies Corp)

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