Termination of Option Rights. In the event that this Agreement is terminated by PERMATEC pursuant to Section 9.2 above prior to the expiration of any of the rights contained in this Section 10, then all such rights shall terminate and fall away as per the effective date of such termination without any liability on the side of PERMATEC.
Termination of Option Rights. In the event the employment of the Grantee with the Company or a Subsidiary shall terminate under any circumstance other than those specified in Section 6(b), (c) or (d) below, all rights to purchase Shares pursuant to the Option Rights (including rights to purchase Shares thereunder which have accrued but which then remain unexercised) shall forthwith cease and terminate.
Termination of Option Rights. (a) In the event that Optionee ceases to be a member of the Board for any reason other than death or permanent disability, any then unexercised portion of this option shall, to the extent not then vested, immediately terminate and become void. Any portion of this option which is vested but has not been exercised at the time the Optionee so ceases to be a member of the Board may be exercised, to the extent it is then vested, by the Optionee within 60 days of the date the Optionee ceased to be a member of the Board, and this option shall terminate after such 60 days has expired.
Termination of Option Rights. (a) In the event the Optionee ceases to be a member of the Board of Directors of the Company for any reason other than death or permanent disability, the then unexercised portion of this Option shall, to the extent not then vested, immediately terminate and become void; the portion of this Option then vested but which has not been exercised at the time the Optionee so ceases to be a member of the Board of Directors may be exercised, to the extent then vested, by the Optionee within ten (10) days of the date of the Optionee ceases to be a member of the Board of Directors of the Company, but in no event later than the expiration date of the option.
Termination of Option Rights. (a) If Optionee's employment with the Corporation shall terminate voluntarily by Optionee, or by the Company for Cause, and immediately after such termination Optionee shall not then be employed by the Corporation, the option granted hereunder, to the extent not exercised prior to the date of termination of employment, shall expire forthwith. In the event of Optionee's voluntary termination of employment, the Corporation, in its sole discretion, may consent to Optionee's exercise within three (3) months after termination of the option granted hereunder, if the Corporation determines that it is in the interest of the Corporation to permit such exercise, subject, however, to the limitations of subparagraph (d), below.
Termination of Option Rights. The right to exercise this Option is subject to additional restrictions and limitations as follows:
Termination of Option Rights. The Option granted hereunder shall ---------------------------- terminate three (3) months after the termination of Participant's employment or directorship with the Company and all Company Subsidiaries, whether voluntarily or involuntarily, except if the cause of the termination is by reason of death, Disability or Retirement then the Option shall terminate on the earlier of the expiration of the Option or one (1) year after the date of termination due to death, Disability or Retirement.
Termination of Option Rights. In the event that the Director ceases to be a member of the Board by reason of his death or permanent disability, any unexercised portion of this Option shall be exercisable by the Director (or by the Director's personal representative, heir or legatee, in the event of death, or by the person or persons named in a domestic relations order, as the case may be) until October 26, 2005. EXHIBIT 10(z)
Termination of Option Rights. Notwithstanding anything to the contrary contained herein, Tenant shall not be allowed to exercise an option right and an Option Term shall not commence pursuant to the terms of this Section 2.2, if at the time Tenant gives Landlord the Option Exercise Notice, or the time the Option Term commences, as the case may be, Tenant is in material default or monetary default of this Lease pursuant to the terms of Section 19.1 below, after the giving of notice to Tenant by Landlord and the expiration of all applicable cure periods.
Termination of Option Rights. 3.1. This Agreement shall terminate on the first anniversary of the Effective Date.
