Example ContractsClausesTermination of Option
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Option Term. The term of each Option shall be fixed by the Committee in its sole discretion; provided that no Option shall be exercisable after the expiration of ten (10) years from the date the Option is granted, except in the event of death or disability.

Repurchase Option. Unless the Administrator determines otherwise, the Restricted Stock Purchase Agreement shall grant the Company a repurchase option exercisable within ninety (90) days of the voluntary or involuntary termination of the purchaser’s service with the Company for any reason (including death or disability). The purchase price for Shares repurchased pursuant to the Restricted Stock Purchase Agreement shall be the original price paid by the purchaser and may be paid by cancellation of any indebtedness of the purchaser to the Company. The repurchase option shall lapse at such rate as the Administrator may determine.

Option Price. The option price per each Share purchasable under any Option granted pursuant to this [Article 4] shall not be less than 100% of the Fair Market Value of such Share on the Grant Date. Other than pursuant to [Section 8.2] hereof, the Committee shall not without the approval of the Company’s stockholders # lower the option price per Share of an Option after it is granted, # cancel an Option when the option price per Share exceeds the Fair Market Value of the underlying Shares in exchange for another Award, or # take any other action with respect to an Option that may be treated as a repricing under the rules and regulations of the New York Stock Exchange (or such other principal securities market on which the Shares are traded).

a reduction in the Margin or a reduction in the amount of any payment of principal, interest, fee or other amount payable to a Lender under the Finance Documents;

Contraction Option. Provided Tenant fully and completely satisfies each of the conditions set forth in this [Section 8], Tenant shall have the one time option ("Contraction Option") to terminate the Lease (as amended) as to a portion of the Suite 100 (generally in the northwest corner of Suite 100) consisting of between 1,000 and 3,000 rentable square feet as designated by Tenant and reasonably approved by Landlord (the "Contraction Space"). In order to exercise the Contraction Option, Tenant must fully and completely satisfy each and every one of the following conditions: # Tenant must give Landlord written notice ("Contraction Notice") of its exercise of the Contraction Option, which Contraction Notice must # state the effective date of such termination ("Contraction Date"), which date must be after the last day of the thirtieth (30th) full calendar month of the Extended Term, # be delivered to Landlord at least one hundred twenty (120) days prior to the Contraction Date, and # designate the Contraction Space (which designation shall be subject to the parameters described in this [Section 8] above and shall be subject to Landlord's reasonable approval); and # at the time of the delivery of the Contraction Notice to Landlord, Tenant shall not be in default under the Lease, as amended, after expiration of applicable notice and cure periods. If Tenant properly exercises its Contraction Option, # upon the Contraction Date, the Contraction Space shall no longer be a part of the New Premises and Tenant shall have surrendered and delivered exclusive possession of the Contraction Space to Landlord and, thereupon, Tenant's Proportionate Share and Tenant's parking allocation shall be reduced on a pro rata basis, # notwithstanding [Section 8(A)] above, from and after the Contraction Date, Tenant shall still be required to pay Base Rent for the Contraction Space throughout the remainder of the Extended Term, but the rate of Base Rent payable for such space shall be reduced from the rate specified in [Section 5] of this Third Amendment above by per rentable square foot of the Contraction Space per year, and # Landlord and Tenant shall execute a new amendment to the Lease documenting such modification to the New Premises upon the terms specified in this [Section 8]. If Tenant fails to timely surrender exclusive possession of the Contraction Space to Landlord, then the holdover provisions of [Section 15] of the Original Lease shall apply with respect to such Contraction Space. Following the surrender of the Contraction Space to Landlord, and when Landlord secures a new tenant for the Contraction Space, Landlord shall perform the following work (collectively, the "Demising Work"): # install a full-height demising wall(s) to separate the Contraction Space from Tenant’s remaining space in the New Premises; and # separate the systems serving the Contraction Space from Tenant’s remaining space in the New Premises. Tenant shall reimburse Landlord for the costs incurred by Landlord for such demising wall(s) within ten (10) business days after delivery of an invoice therefor; however, the cost of systems separation and all other costs of such separation shall be borne solely by Landlord. If Tenant properly exercises its Contraction Option, Tenant hereby acknowledges that Landlord will be performing such demising work during the Extended Term, and Landlord's performance of such work shall not be deemed a constructive eviction of Tenant, nor shall Tenant be entitled to any abatement of rent in connection therewith. However, Landlord shall use commercially reasonable efforts to conduct those portions of the Demising Work which are most likely to be disruptive to Tenant's business (specifically including, but not limited to, demolition work) either # during non-business hours, or # on weekends, and to the extent that any disruptive work needs to be done during normal business hours, Landlord shall endeavor to complete such portion of the work in as minimally disruptive a manner as practicable. Once commenced, Landlord shall diligently pursue the completion of the Demising Work.

Initial Option. Each individual who first becomes an Outside Director following the Registration Date will be granted a Nonstatutory Stock Option (an “Initial Option”) to purchase that number of Shares equal to divided by the Fair Market Value per Share on the date of grant, with the result rounded down to the nearest whole Share, on the date of the first Board or Compensation Committee meeting occurring on or after the date on which such individual first becomes an Outside Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy. For purposes of example only, if an individual is granted an Initial Option and the Fair Market Value per Share on the date of grant is , the Initial Option will be to purchase 10,588 Shares ( divided by , rounded down to the nearest whole Share).

Option Grant. The Company hereby grants to the Optionee, as of the Date of Grant, the right and option (this “Option”) to purchase the number of shares of the Company’s Common Stock (the “Shares”) for the exercise price per share (the “Exercise Price”), all as set forth below. Such Option shall vest and terminate according to the vesting schedule and term information described below. All terms of this Stock Option Grant Agreement shall be subject to the terms and conditions of the 2005 Long-Term Incentive Plan:

Option Payment. Payment of the option price shall be made in U.S. dollars or in the capital stock of the Company valued at its fair market value (in accordance with [Section 5.4] of the Plan), or a combination of such capital stock and cash.

Option Right. Your Option is to purchase, on the terms and conditions set forth below, the following number of shares (the “Option Shares”) of the Company’s Common Stock, par value $.01 per share (the “Common Stock”) at the exercise price specified below (the “Exercise Price”).

Termination of Employment. If the Optionee’s employment is terminated, # any part of the Option that is unvested as of such termination date shall remain unvested and shall terminate as of such date, and # the Optionee shall have the right for one (1) year after the date of such Termination of Employment or until the Option expires, whichever is earlier, to exercise only that portion of the Option that has become vested as of the date of such Termination of Employment, and thereafter the Option shall terminate and cease to be exercisable, except as provided in below:

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