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

Expiration of Option. The Option shall expire on the date set forth in [Schedule 1] (the “Expiration 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 ., as applicable.

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

• Cumulative Exercisability. To the extent that the Option is vested and exercisable, the Grantee has the right to exercise the Option (to the extent not previously exercised), and such right shall continue, until the expiration or earlier termination of the Option.

During the applicable post-Service exercise period, the option may not be exercised for more than the number of vested shares for which the option is at the time exercisable; provided, however, that one or more options under the Discretionary Grant Program may be structured so that those options continue to vest in whole or part during the applicable post-Service exercise period. Upon the expiration of the applicable exercise period or (if earlier) upon the expiration of the option term, the option shall terminate and cease to be outstanding for any shares for which the option has not been exercised.

In the event that a Participant’s Continuous Service terminates because such Participant dies or suffers a Disability prior to the expiration of the Stock Option and without the Participant’s having fully exercised the Stock Option, the Participant or his or her successor or legal representative shall be fully vested in the Stock Option and shall have the right to exercise the Stock Option within the next 12 months following such event, or such other period as determined by the Committee in its sole discretion, but not later than the expiration of the term of the Stock Option.

The right to exercise the option expires on the tenth anniversary of the Grant Date (the “Expiration Date”). This option may terminate prior to that date, however, as described in paragraph # below.

Duration. Options granted hereunder shall be for such term as the Committee shall determine, provided that # no Incentive Stock Option shall be exercisable after the expiration of ten (10) years from the date it is granted (five (5) years in the case of an Incentive Stock Option granted to a Ten-Percent Shareholder) and # no Nonqualified Stock Option shall be exercisable after the expiration of ten (10) years and one (1) day from the date it is granted.

Retirement. If, before the date of expiration of an Option, the Participant holding the Option shall be retired in good standing from the employ of the Company or any Subsidiary for reasons of age or disability under the then established rules of the Company or the Subsidiary, the Option shall terminate on the earlier of the normal date of expiration or four (4) years after the date of such retirement. In the event of such retirement, the Option shall be exercisable prior to the termination of such Option to the extent to which the Participant was entitled to exercise such Option immediately prior to such retirement unless the provisions of [Section 4.6(b)] hereof concerning accelerated vesting apply. An employment relationship between the Company and the Participant shall be deemed to exist during any period in which the Participant is employed by the Company or any Subsidiary. If the Participant dies after retirement, but prior to the expiration date of the Option, the Option period shall not be extended but shall terminate on the earlier of the date of expiration or four (4) years after the date of retirement. The number of Shares vested and exercisable, however, shall be determined as of the date of retirement, with no further vesting thereafter.

Notice Period. The Parties agree that the closing of the exercise of any option transaction contemplated by this Agreement (the “Option Closing”) shall not occur until the expiration of the applicable Notice Period.

Amendment of Expiration Date. The Expiration Date of the Warrants are hereby amended to the Amended Expiration Date as set forth in [Schedule A] attached hereto and incorporated herein by reference.

Expiration of Study Period. Buyer # acknowledges and agrees that, notwithstanding anything to the contrary contained in the Agreement, the Study Period has expired and the Approval Date has occurred and ended as of the date and time of this Amendment, and # waives its rights to terminate the Agreement pursuant to [Section 5.4] thereof. Buyer waives any claim that [Section 5.1] of the Agreement has been breached by Seller.

(ii) “Second Extension Option” shall mean Tenant’s right to extend the term of this Lease with respect to the Extension Premises for an additional term (the “Second Extension Term”) of five (5) years (but only if Tenant has exercised the First Extension Option and selected the Five Year Option for purposes thereof) commencing on the day immediately following the Expiration Date of the First Extension Term (the “Commencement Date of the Second Extension Term”) and ending on the last day of the month in which occurs the five (5) year anniversary of the Expiration Date of the First Extension Term (the “Expiration Date of the Second Extension Term”). For purposes of clarification, if Tenant shall have exercised the First Extension Option and selected the Ten Year Option for purposes thereof, Tenant shall have no further right to extend the term of the Lease and the Second Extension Option shall be void and of no further force and effect (it being the intention of Landlord and Tenant that under no circumstances shall the term of the Lease be extended pursuant to this [Article 9] beyond the date that is ten (10) years following the New Expiration Date).

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