Common use of Early Termination of Option Clause in Contracts

Early Termination of Option. Notwithstanding paragraph 1 of this Agreement, the Option shall terminate, expire and become invalid and nonexercisable on the date three months following the date of termination of the Optionee's employment as an employee of the Company or a subsidiary corporation (other than by reason of death or permanent and total disability within the meaning of Section 22(e) 3) of the Internal Revenue Code of 1986, as amended (the "Code").

Early Termination of Option. Notwithstanding paragraph Paragraph 1 of this Agreement, the Option shall terminate, expire and become invalid and nonexercisable on the date three months following the date of termination of the Optionee's employment as an employee of the Company or a subsidiary corporation (other than by reason of death or permanent and total disability within the meaning of Section 22(e) 322(e)(3) of the Internal Revenue Code of 1986, as amended (the "Code")).