Termination or Acceleration in Certain Cases. The Option shall be subject to early termination prior to the tenth anniversary of the Grant Date and accelerated vesting in certain circumstances, as described below. Notwithstanding anything contained in this Section 5 to the contrary, however, in no event shall the Option become or remain exercisable to any extent after the expiration date set forth in Section 3.
Appears in 3 contracts
Sources: Stock Option Agreement (Tempur Sealy International, Inc.), Stock Option Agreement (Tempur Sealy International, Inc.), Stock Option Agreement (Tempur Pedic International Inc)
Termination or Acceleration in Certain Cases. The Option shall be subject to early termination prior to the tenth anniversary of the Grant Date and or accelerated vesting in certain circumstances, as described below. Notwithstanding anything contained in this Section 5 to the contrary, however, in no event (other than pursuant to Section 15) shall the Option become or remain exercisable to any extent after the expiration date set forth in provided by Section 3. The provisions of Sections 3 and 5 hereof shall be subject to the terms of the Employment Agreement.
Appears in 2 contracts
Sources: Non Qualified Stock Option Agreement (Somnigroup International Inc.), Non Qualified Premium Priced Stock Option Agreement (Tempur Sealy International, Inc.)