Common use of Termination or Change of Continuous Service Clause in Contracts

Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date set forth in Section 1. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the Plan; provided, however, that, with respect to any ISO that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO shall cease to be treated as an ISO and shall be treated as a NQSO on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 and 9 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 4 contracts

Samples: Option Agreement (Alfi, Inc.), Option Agreement (Alfi, Inc.), Option Agreement (Alfi, Inc.)

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Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date set forth in Section 1. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the Plan; provided, however, that, with respect to any ISO that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO shall cease to be treated as an ISO and shall be treated as a NQSO on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 and 9 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 3 contracts

Samples: Option Agreement (Alfi, Inc.), Option Agreement (Alfi, Inc.), Option Agreement (Alfi, Inc.)

Termination or Change of Continuous Service. In the event the Grantee’s 's ------------------------------------------- Continuous Service terminates, other than with the existence of for Cause, the Grantee may, but only during to the Post-Termination Exercise Period, exercise the portion of the Option that was vested extent otherwise so entitled at the date of such termination (the "Termination Date"). The , exercise the Option during the Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination DatePeriod. In the event of termination of the Grantee’s 's Continuous Service with the existence of for Cause, the Grantee’s 's right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s 's Continuous Service (also the “Termination Date”)Service. In no event, however, event shall the Option be exercised later than the Expiration Date set forth in Section 1the Notice. In the event of the Grantee’s 's change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and and, except to the Option shall extent otherwise determined by the Administrator, continue to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the Planvest; provided, however, that, with respect to any ISO Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO Incentive Stock Option shall cease to be treated as an ISO Incentive Stock Option and shall be treated as a NQSO Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 6 and 9 7 below, to the extent that the ---------------- Grantee is not entitled to exercise the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 2 contracts

Samples: Employment Agreement (Cheap Tickets Inc), Employment Agreement (Cheap Tickets Inc)

Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of for Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, event shall the Option be exercised later than the Expiration Date set forth in Section 1this Option Agreement. In the event of the Grantee’s change in status from Employee, Employee or Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and vesting of the Option shall continue to vest cease as of such change in accordance with status unless otherwise determined by the Vesting Schedule set forth in Section 2 consistent with Administrator or dictated by any minimum vesting requirements set forth in the Plan; provided, however, that, with respect to any ISO Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or ConsultantDirector, such ISO Incentive Stock Option shall cease to be treated as an ISO Incentive Stock Option and shall be treated as a NQSO Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 and 9 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 2 contracts

Samples: Stock Option Award Agreement (Western Alliance Bancorporation), Stock Option Award Agreement (Western Alliance Bancorporation)

Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of for Cause, the Grantee’s right to exercise any vested portion of the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date set forth in Section 1the Notice. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the PlanNotice; provided, however, that, that with respect to any ISO Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO Incentive Stock Option shall cease to be treated as an ISO Incentive Stock Option and shall be treated as a NQSO Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 6 and 9 7 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 2 contracts

Samples: Executive Employment Agreement (STG Group, Inc.), Stock Option Award Agreement (STG Group, Inc.)

Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of for Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date set forth in Section 1the Notice. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the PlanNotice; provided, however, that, that with respect to any ISO Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO Incentive Stock Option shall cease to be treated as an ISO Incentive Stock Option and shall be treated as a NQSO Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 5 and 9 6 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Sourcefire Inc)

Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination DateDate and continue for a period of 90 days thereafter. In the event of termination of the Grantee’s Continuous Service with the existence of for Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date set forth in Section 1Date. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and effect. In the Option shall continue to vest in accordance with event of the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the Plan; provided, however, that, with respect to any ISO that shall remain in effect after a Grantee’s change in status from Employee to Director or Consultant, such ISO vesting of the Option shall cease continue only to be treated the extent determined by the Administrator as an ISO and shall be treated as a NQSO on the day three (3) months and one (1) day following of such change in status. Except as provided in Sections Section 8 and 9 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Award Agreement (Cytodyn Inc)

Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of for Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, event shall the Option be exercised later than the Expiration Date set forth in Section 1this Option Agreement. In the event of the Grantee’s change in status from Employee, Employee or Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and vesting of the Option shall continue to vest cease as of such change in accordance with status unless otherwise determined by the Vesting Schedule set forth in Section 2 consistent with Administrator or dictated by any minimum vesting requirements set forth in the Plan; provided, however, that, with respect to any ISO Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or ConsultantDirector, such ISO Incentive Stock Option shall cease to be treated as an ISO Incentive Stock Option and shall be treated as a NQSO Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 9 and 9 10 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 1 contract

Samples: Stock Option Award Agreement (Western Alliance Bancorporation)

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Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of Cause, the Grantee’s right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date set forth in Section 1. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the Plan; provided, however, that, with respect to any ISO that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO shall cease to be treated as an ISO and shall be treated as a NQSO on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 and 9 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 1 contract

Samples: Option Agreement (Alfi, Inc.)

Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of for Cause, the Grantee (or the Holding Company of such Grantee, as applicable) may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of for Cause, the right of the Grantee (or the Holding Company of such Grantee’s right , as applicable) to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date set forth in Section 1the Notice. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth the Notice only if such change is determined by the Administrator, in its complete and sole discretion, to constitute a lateral change or a promotion and not a demotion in the Plan; provided, however, thatemployment status of the Grantee. However, with respect to any ISO Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO Incentive Stock Option shall cease to be treated as an ISO Incentive Stock Option and shall be treated as a NQSO Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 7 and 8 and 9 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee (or the Holding Company of such Grantee, as applicable) does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 1 contract

Samples: Transfer Agreement (AutoChina International LTD)

Termination or Change of Continuous Service. In Except as provided in the Vesting Schedule set forth in the Notice, in the event the Grantee’s 's Continuous Service terminates, other than with the existence of for Cause, the Grantee may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the "Termination Date"). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s 's Continuous Service with the existence of for Cause, the Grantee’s 's right to exercise the Option shall, except as otherwise determined by the AdministratorBoard, terminate concurrently with the termination of the Grantee’s 's Continuous Service (also the "Termination Date"). In no event, however, event shall the Option be exercised later than the Expiration Date set forth in Section 1the Notice. In the event of the Grantee’s 's change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and vesting of the Option shall continue only to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in extent determined by the Plan; provided, however, that, with respect to any ISO that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO shall cease to be treated Board as an ISO and shall be treated as a NQSO on the day three (3) months and one (1) day following of such change in status. Except as provided in Sections 8 6 and 9 7 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate; provided, however, that, if the Company terminates the Grantee's Continuous Service other than for Cause, or if the Grantee terminates his Continuous Service for Good Reason, then the Shares subject to the Option shall continue to vest pursuant to the terms of and only to the extent provided for in the Vesting Schedule set forth in the Notice.

Appears in 1 contract

Samples: Employment Agreement (Endocare Inc)

Termination or Change of Continuous Service. In the event the Grantee’s Continuous Service terminates, other than with the existence of for Cause, the Grantee (or the Holding Company of such Grantee, as applicable) may, but only during the Post-Termination Exercise Period, exercise the portion of the Option that was vested at the date of such termination (the “Termination Date”). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s Continuous Service with the existence of for Cause, the right of the Grantee (or the Holding Company of such Grantee’s right , as applicable) to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s Continuous Service (also the “Termination Date”). In no event, however, shall the Option be exercised later than the Expiration Date set forth in Section 1the Notice. In the event of the Grantee’s change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and the Option shall continue to vest in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the PlanNotice; provided, however, that, that with respect to any ISO Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO Incentive Stock Option shall cease to be treated as an ISO Incentive Stock Option and shall be treated as a NQSO Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 7 and 8 and 9 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee (or the Holding Company of such Grantee, as applicable) does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 1 contract

Samples: Share Exchange Agreement (Spring Creek Acquisition Corp.)

Termination or Change of Continuous Service. In the event the Grantee’s 's Continuous Service terminates, other than with the existence of for Cause, the Grantee may, but only during until the Post-Termination Exercise PeriodExpiration Date set forth in the Notice, exercise the portion of the Option that was vested at the date of such termination (the "Termination Date"). The Post-Termination Exercise Period ​ ​ Alfi, Inc. – Standard Form shall commence on the Termination Date. In the event of termination of the Grantee’s 's Continuous Service with the existence of for Cause, the Grantee’s 's right to exercise the Option shall, except as otherwise determined by the Administrator, terminate concurrently with the termination of the Grantee’s 's Continuous Service (also the "Termination Date"). In no event, however, event shall the Option be exercised later than the Expiration Date set forth in Section 1the Notice. In the event of the Grantee’s 's change in status from Employee, Director or Consultant to any other status of Employee, Director or Consultant, the Option shall remain in effect and vesting of the Option shall continue only to vest the extent determined by the Administrator as of such change in accordance with the Vesting Schedule set forth in Section 2 consistent with any minimum vesting requirements set forth in the Planstatus; provided, however, that, that with respect to any ISO Incentive Stock Option that shall remain in effect after a change in status from Employee to Director or Consultant, such ISO Incentive Stock Option shall cease to be treated as an ISO Incentive Stock Option and shall be treated as a NQSO Non-Qualified Stock Option on the day three (3) months and one (1) day following such change in status. Except as provided in Sections 8 6 and 9 7 below, to the extent that the Option was unvested on the Termination Date, or if the Grantee does not exercise the vested portion of the Option within the Post-Termination Exercise Period, the Option shall terminate.

Appears in 1 contract

Samples: Option Award Agreement (Genius Products Inc)

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