Earlier Expiration Clause Samples

Earlier Expiration. Notwithstanding Section 5.1, Options shall sooner expire as follows: (a) all unvested Options shall expire as provided in Section 3.5; (b) upon the Participant’s termination of employment by the Company or its Subsidiaries for Cause, all vested Options shall (unless otherwise determined by the Company in its sole discretion) expire immediately at the time notice of such termination is given; (c) upon the Participant’s termination of employment by the Company or its Subsidiaries in connection with a lay-off, all vested Options shall expire upon the earlier of (i) the third anniversary of the date of such termination or (ii) the expiration of the Options under Section 5.1; (d) upon the Participant’s resignation from employment with the Company or its Subsidiaries (other than in connection with death, Disability or Retirement), all vested Options shall expire upon the date of such resignation or termination; and (e) upon the Participant’s termination of employment by the Company or its Subsidiaries for any reason (except that termination for each of Cause or in connection with death, Disability, Retirement or lay-off shall be governed by the respective clause therefor set forth in this Section 5.2), all vested Options shall expire upon the date of such resignation or termination. Accordingly, upon termination of employment in connection with death, Retirement or Disability, all vested Options shall expire upon the date set forth in Section 5.1 and upon termination of employment in connection with a lay-off, all vested Options shall expire upon the earlier of the third anniversary of such termination or the date set forth in Section 5.1.