Time Option. Notwithstanding Section 3(a) and 3(c)(i), in the event that the Participant’s Employment is terminated due to death, Disability or Retirement, to the extent not previously cancelled or expired, the Time Option shall immediately become vested and exercisable as to the Shares subject to the Time Option that would have otherwise vested and become exercisable in the fiscal year in which such termination of Employment occurs and any remaining unvested portion of the Time Option shall expire and be immediately canceled by the Company without consideration.
Appears in 3 contracts
Sources: Nonqualified Stock Option Agreement (Affinia Group Intermediate Holdings Inc.), Nonqualified Stock Option Agreement (Affinia Group Intermediate Holdings Inc.), Nonqualified Stock Option Agreement (Affinia Group Holdings Inc.)
Time Option. Notwithstanding Section 3(a) and 3(c)(i), in the event that the Participant’s 's Employment is terminated due to death, Disability or Retirement, to the extent not previously cancelled or expired, the Time Option shall immediately become vested and exercisable as to the Shares subject to the Time Option that would have otherwise vested and become exercisable in the fiscal year in which such termination of Employment occurs and any remaining unvested portion of the Time Option shall expire and be immediately canceled by the Company without consideration.
Appears in 1 contract
Sources: Nonqualified Stock Option Agreement (Wix Filtration Media Specialists, Inc.)