Termination Due to Retirement. If Employee’s employment by the Company or any of its Subsidiaries terminates due to Normal Retirement, then the portion of the Option that was exercisable as of the date of termination of employment may be exercised for a period of one year from the date of such termination or until the expiration of the Exercise Period, whichever is shorter. The portion of the Option not yet exercisable on the date of termination of employment, if any, shall immediately expire.
Appears in 5 contracts
Samples: Stock Option Agreement (Thomas Philip J.), Stock Option Agreement (Thomas Philip J.), Stock Option Agreement (Long Island Iced Tea Corp.)
Termination Due to Retirement. If Employee’s employment by the Company or any of its Subsidiaries terminates due to Normal Retirement, then the portion of the Option that was exercisable as of the date of termination of employment may be exercised for a period of one year from the date of such termination or until the expiration of the Exercise Period, whichever is shorter. The portion of the Option not yet exercisable on the date of termination of employment, if any, employment shall immediately expire.
Appears in 2 contracts
Samples: Stock Option Agreement (Propel Media, Inc.), Stock Option Agreement (Kitara Media Corp.)
Termination Due to Retirement. If EmployeeGxxxxxx’s employment by the Company or any of its Subsidiaries terminates due to Normal Retirement, then the portion of the Option that was exercisable as of the date of termination of employment may be exercised for a period of one year from the date of such termination or until the expiration of the Exercise Period, whichever is shorter. The portion of the Option not yet exercisable on the date of termination of employment, if any, employment shall immediately expire.
Appears in 2 contracts
Samples: Stock Option Agreement (Lucid Diagnostics Inc.), Stock Option Agreement (PAVmed Inc.)
Termination Due to Retirement. If Employee’s employment by the Company or any of its Subsidiaries terminates due to Normal Retirement, then the portion of the Option that was exercisable as of the date of termination of employment may be exercised for a period of one year six months from the date of such termination or until the expiration of the Exercise Period, whichever is shorter. The portion of the Option not yet exercisable on the date of termination of employment, if any, employment shall immediately expire.
Appears in 2 contracts
Samples: Stock Option Agreement (Mojo Organics, Inc.), Stock Option Agreement (Mojo Organics, Inc.)
