Example ContractsClausesExpiration of Option Termautomatic Exercise of in the Money Options
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Termination Upon Expiration of Option Term. The Options shall terminate and expire in their entirety on the Option Expiration Date. In no event may Participant exercise the Options after the Option Expiration Date, even if the application of another provision of this Section 5 may result in an extension of the exercise period for the Options beyond the Option Expiration Date.

Expiration of Option. The Option shall expire on the date set forth in [Schedule 1] (theExpiration Date”), unless terminated earlier as set forth in section 5 hereof, and may not be exercised after the earlier of # the Expiration Date and # the earlier termination date established in accordance with section 5 hereof.

Except as otherwise may be provided by the Committee consistent with the terms of the Plan, the Option shall expire and cease to be exercisable as of the earlier of # the Expiration Date set forth in the Grant Notice or # the date specified below in [Sections 4A]. through [[Unknown Identifier]]., as applicable.

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Option Expiration Date. Unless otherwise provided by the Option Grant Certificate , theExpiration Date” with respect to an Incentive Stock Option or any portion thereof awarded to a Participant under the Plan means the earliest of:

This Option, once vested, may not be exercised to any extent by any one after the first to occur of the following events:

Exercise of Options. Options shall be exercised by the delivery of a written notice of exercise to the Company or its designee, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares as instructed by the Board or, subject to the approval of the Board pursuant to procedures approved by the Board,

Exercise of Options. Options granted under this Article 6 shall be exercisable at such times and be subject to such restrictions and conditions as the Compensation Committee shall in each instance approve, which terms and restrictions need not be the same for each grant or for each Participant.

Exercise of this Option shall be made upon delivery to the Company pursuant to [Section 8], of # this Stock Option Agreement; # a duly completed and executed election notice, in the form attached hereto (theElection Notice”) and # payment of the Exercise Price. Payment of the Exercise Price may be made at the option of the Option Holder either # in cash, wire transfer or by certified or official bank check payable to the order of the Company equal to Exercise Price per share in effect at the time of exercise multiplied by the number of Option Shares specified in the Election Notice, or # through a cashless exercise provided in Section 4(b) below. The Company shall promptly (but in no event later than five (5) business days after the “Date of Exercise,” as defined herein) issue or cause to be issued and cause to be delivered to the Option Holder in such name or names as the Option Holder may designate in the Election Notice, a certificate for the Option Shares issuable upon such exercise, with such restrictive legend as required by the 1933 Act, as applicable. Any person so designated by the Option Holder to receive Option Shares shall be deemed to have become holder of record of such Option Shares as of the Date of Exercise of this Option. All Option Shares delivered to the Option Holder the Company covenants, shall upon due exercise of this Option, be duly authorized, validly issued, fully paid and non-assessable.

Exercise of Options. A Participant may exercise an Option only on or before the date on which the Option expires, as provided in Subsection # below.

Exercise of Options. Subject to Section 5(c), each Stock Option Award Agreement shall set forth the extent to which the Participant shall have the right to exercise the Option following termination of the Participant’s Service with the Company and its Subsidiaries, and the right to exercise the Option of any executors or administrators of the Participant’s estate or any person who has acquired such Option(s) directly from the Participant by bequest or inheritance. Such provisions shall be determined in the sole discretion of the Committee, need not be uniform among all Options issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination of Service.

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