Common use of Duration of Option Clause in Contracts

Duration of Option. (a) The Option shall be exercisable to the extent vested and in the manner provided herein until the third anniversary of the date hereof so long as Optionee remains in good standing with the Company. Nothing in this Agreement shall be interpreted or construed to confer upon the Optionee any right with respect to continuance of services as a director, employee or consultant with the Company, nor shall this Agreement interfere in any way with the right of the Company to terminate the Optionee's services as a director, employee or consultant at any time. (b) Notwithstanding any provision to the contrary herein, in the event of Optionee's death, his Option shall terminate on the date of death, provided that all or any portion of the Option to the extent that the right is exercisable but not exercised on the date of death may be exercised by Optionee’s estate. Such Option must be exercised by the Optionee’s estate, if at all, within six (6) months after the date of death of Optionee or, if earlier, within the originally prescribed term of the Option, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if the Optionee were alive and had continued to be an employee or consultant of the Company or of an affiliate thereof.

Duration of Option. (a) The Option shall be exercisable to the extent vested and in the manner provided herein until the third fourth anniversary of the date hereof so long as Optionee (i) remains in good standing with the Company; or (ii) has completed the full three year Term of the Employment Agreement, as defined therein. Nothing in this Agreement shall be interpreted or construed to confer upon the Optionee any right with respect to continuance of services as a director, employee or consultant with the Company, nor shall this Agreement interfere in any way with the right of the Company to terminate the Optionee's services as a director, employee or consultant at any time. (b) Notwithstanding any provision to the contrary herein, in the event of Optionee's death, his Option shall terminate on the date of death, provided that all or any portion of the Option to the extent that the right is exercisable but not exercised on the date of death may be exercised by Optionee’s estate. Such Option must be exercised by the Optionee’s estate, if at all, within six (6) months after the date of death of Optionee or, if earlier, within the originally prescribed term of the Option, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if the Optionee were alive and had continued to be an employee or consultant of the Company or of an affiliate thereof.

Duration of Option. (a) The Option shall be exercisable to the extent vested and in the manner provided herein until the third anniversary of the date hereof April 19, 2013 so long as Optionee remains in good standing with the Company. Nothing in this Agreement shall be interpreted or construed to confer upon the Optionee any right with respect to continuance of services as a director, employee or consultant with the Company, nor shall this Agreement interfere in any way with the right of the Company to terminate the Optionee's services as a director, employee or consultant at any time. (b) Notwithstanding any provision to the contrary herein, in the event of Optionee's death, his Option shall terminate on the date of death, provided that all or any portion of the Option to the extent that the right is exercisable but not exercised on the date of death may be exercised by Optionee’s estate. Such Option must be exercised by the Optionee’s estate, if at all, within six (6) months after the date of death of Optionee or, if earlier, within the originally prescribed term of the Option, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if the Optionee were alive and had continued to be an employee or consultant of the Company or of an affiliate thereof.

Duration of Option. (a) The Subject to all other terms and conditions of this Agreement, the Option shall be exercisable to the extent vested and in the manner provided herein until the third first anniversary of the respective vesting date hereof so long as Optionee remains in good standing with of each one-thirty sixth (1/36) portion of the CompanyOption. Nothing in this Agreement shall be interpreted or construed to confer upon the Optionee any right with respect to continuance of services as a an officer, director, employee or consultant with the Company, nor shall this Agreement interfere in any way with the right of the Company to terminate the Optionee's services as a director, employee or consultant at any time. (b) Notwithstanding any provision to the contrary herein, in the event of Optionee's death, his Option shall terminate on the date of death, provided that all or any portion of the Option to the extent that the right is exercisable but not exercised on the date of death may be exercised by Optionee’s estate. Such Option must be exercised by the Optionee’s estate, if at all, within six twelve (612) months after the date of death of Optionee or, if earlier, within the originally prescribed term of the Option, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if the Optionee were alive and had continued to be an employee or consultant of the Company or of an affiliate thereof.

Duration of Option. (a) The Option shall be exercisable to the extent vested and in the manner provided herein until such date as set forth on the third anniversary of the date hereof so long as Optionee remains in good standing with the Companysignature page hereto. Nothing in this Agreement shall be interpreted or construed to confer upon the Optionee any right with respect to continuance of services as a director, officer, employee or consultant with the Company, nor shall this Agreement interfere in any way with the right of the Company to terminate the Optionee's services as a director, officer, employee or consultant at any time. (b) Notwithstanding any provision to the contrary herein, in the event of Optionee's death, his Option shall terminate on the date of death, provided that all or any portion of the Option to the extent that the right is exercisable but not exercised on the date of death may be exercised by Optionee’s estate. Such Option must be exercised by the Optionee’s estate, if at all, within six (6) months after the date of death of Optionee or, if earlier, within the originally prescribed term of the Option, notwithstanding that the decedent might have been able to exercise the Option as to some or all of the Shares on a later date if the Optionee were alive and had continued to be an employee or consultant of the Company or of an affiliate thereof.