Common use of Termination of Service Following a Change in Control Clause in Contracts

Termination of Service Following a Change in Control. Notwithstanding the foregoing, if the Optionee ceases to be an officer or employee of, or to perform other services for, the Company or any Subsidiary, and the Optionee’s service was terminated (i) by the Company without Cause, (ii) by reason of the Optionee’s death, Disability, or Retirement, or (iii) by the Optionee for Good Reason, within twelve months after there is a Change in Control of the Company, as defined in Section 2(c) of the Plan, then the Option shall be immediately fully exercisable and shall remain so for the applicable period following the Optionee’s termination of service, as described in this Section 6.

Appears in 3 contracts

Samples: Non Qualified Stock Option Agreement (Wellcare Health Plans, Inc.), Non Qualified Stock Option Agreement (Wellcare Health Plans, Inc.), Non Qualified Stock Option Agreement (Wellcare Health Plans, Inc.)

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Termination of Service Following a Change in Control. Notwithstanding the foregoing, if the Optionee ceases to be an a director, officer or employee of, or to perform other services for, the Company or any Subsidiary, and the Optionee’s 's service was terminated (i) by the Company without Cause, (ii) by reason of the Optionee’s 's death, Disability, or Retirement, or (iii) by the Optionee for Good Reason, within twelve months after there is a Change in Control of the Company, as defined in Section 2(c) of the Plan, then the Option shall be immediately fully exercisable and shall remain so [for the applicable period following the Optionee’s 's termination of service, as described in this Section 6] [for a period of 180 days after the date of such termination, but in no event after the expiration date provided in Section 7(a) below].

Appears in 1 contract

Samples: Wellcare Health Plans, Inc.

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