There are a few sections of the contract that were redacted before the contract was provided pursuant to the open records request, but none of the provisions I see specifically require Texas to pay any sort of fee or penalty upontermination.
Though options generally have a lengthy exercise period to allow the holders to see if the shares are increasing in value, upontermination of the employment relationship or as the option nears expiration, the holder may have to make a quick investment decision.
"The PBGC and its plan termination insurance are increasingly called upon to protect and pay the pension obligations promised by large, troubled corporations, " O.