Common use of Termination of Relationship Clause in Contracts

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee or director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee nor a director of the Company.

Appears in 2 contracts

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc), Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

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Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as is neither an employee or nor a director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee nor a director of the Companyceases to so act.

Appears in 2 contracts

Samples: Non Plan Stock Option Agreement, Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee (or an entity he controls) ceases to act as an employee or director of a consultant to the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee nor ceases to act as a director of consultant to the Company.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee or director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither ceases to act as an employee nor a director of the Company.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee or director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee nor a director of the Companydirector.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee a consultant to or director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee a consultant nor a director of the Company.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee or director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither ceases to act as an employee nor a director of the Company.employee

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases (or an entity the Optionee controls) is neither a consultant to act as an employee or nor a director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee nor a director of the Companyceases to so act.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee or director of to the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee nor a director of the Companyceases to so act.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

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Termination of Relationship. (a) If for any reason, except deathdeath or disability as provided below, the Optionee ceases to act as an employee or director be a member of the CompanyBoard, employee, officer, executive of, or consultant or advisor providing services to, the Company or a Subsidiary (as defined in the Plan), then all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee nor a director that date. Any part of the CompanyOptions that was not vested immediately before termination of the Optionee’s employment shall terminate at that time.

Appears in 1 contract

Samples: Employee Non Qualified Stock Option Agreement (Quepasa Corp)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee or director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither ceases to act as an employee nor a director of the Company.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee or director of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither ceases to act as an employee nor a director of the Company.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

Termination of Relationship. (a) If for any reason, except deathdeath or disability as provided below, the Optionee ceases [to act as an employee or director serve as a director] of the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither ceases [to act as an employee nor or serve as a director of the Companydirector], except as otherwise provided for herein.

Appears in 1 contract

Samples: Form of Stock Option Agreement (Cygene Laboratories Inc)

Termination of Relationship. (a) If for any reason, except death, the Optionee ceases to act as an employee or director of a consultant to the Company, all rights granted hereunder shall terminate effective three months from the date the Optionee is neither an employee nor a director of the Companyceases to so act.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Ultrastrip Systems Inc)

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