Common use of Termination of Service for Cause Clause in Contracts

Termination of Service for Cause. If your employment with the Company or a subsidiary is terminated by the Company or a subsidiary for Cause, the Option will be immediately forfeited in full upon termination (regardless of the extent to which the Option may have been exercisable as of that time). For purposes of this paragraph 6 only, “Cause” is defined as (a) any act which is in bad faith and to the detriment of the Company or one of its subsidiaries or (b) a material breach of any agreement with or material obligation to the Company or one of its subsidiaries.

Appears in 5 contracts

Samples: Non Qualified Stock Option Agreement (Celera CORP), Non Qualified Stock Option Agreement (Celera CORP), Non Qualified Stock Option Agreement (Celera CORP)

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Termination of Service for Cause. If your employment with the Company or a subsidiary is terminated by the Company or a subsidiary for Cause, the Option will be immediately forfeited in full upon such termination (regardless of the extent to which the Option may have been exercisable as of that such time). For purposes of this paragraph 6 only, “Cause” is defined as (a) any act which is in bad faith and to the detriment of the Company or one of its subsidiaries or (b) a material breach of any agreement with or material obligation to the Company or one of its subsidiaries.Company.4

Appears in 3 contracts

Samples: Non Qualified Stock Option Agreement (Applera Corp), Non Qualified Stock Option Agreement (Applera Corp), Incentive Stock Option Agreement (Applera Corp)

Termination of Service for Cause. If your employment with the Company or a subsidiary is terminated by the Company or a subsidiary for Cause, the Option will be immediately forfeited in full upon such termination (regardless of the extent to which the Option may have been exercisable as of that such time). For purposes of this paragraph 6 only, “Cause” is defined as (a) any act which is in bad faith and to the detriment of the Company or one of its subsidiaries or (b) a material breach of any agreement with or material obligation to the Company or one of its subsidiariesCompany.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Applera Corp), Incentive Stock Option Agreement (Applera Corp)

Termination of Service for Cause. If your employment with the Company or a subsidiary is terminated by the Company or a subsidiary for Cause, the Option will be immediately forfeited in full upon such termination [(regardless of the extent to which the Option may have been exercisable as of that time). such time)].4 For purposes of this paragraph 6 only, “Cause” is defined as (a) any act which is in bad faith and to the detriment of the Company or one of its subsidiaries or (b) a material breach of any agreement with or material obligation to the Company or one of its subsidiariesCompany.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Applera Corp)

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Termination of Service for Cause. If your employment with the Company or a subsidiary is terminated by the Company or a subsidiary for Cause, the Option will be immediately forfeited in full upon such termination (regardless of the extent to which the Option may have been exercisable as of that such time). For purposes of this paragraph 6 only, “Cause” is defined as (a) any act which is in bad faith and to the detriment of the Company or one of its subsidiaries or (b) a material breach of any agreement with or material obligation to the Company or one of its subsidiaries.Company. Back to Contents

Appears in 1 contract

Samples: Performance Stock Option Agreement (Applera Corp)

Termination of Service for Cause. If your employment with the Company or a subsidiary is terminated by the Company or a subsidiary for Cause, the Option will be immediately forfeited in full upon such termination [(regardless of the extent to which the Option may have been exercisable as of that time)such time)]4. For purposes of this paragraph 6 only, “Cause” is defined as (a) any act which is in bad faith and to the detriment of the Company or one of its subsidiaries or (b) a material breach of any agreement with or material obligation to the Company or one of its subsidiariesCompany.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Applera Corp)

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