Common use of Early Termination of Option Clause in Contracts

Early Termination of Option. If Optionee is an employee of the Company or a parent or a subsidiary of the Company as of the date of the grant of the Option by the Company, the Option and all rights under this Agreement, to the extent such rights shall not have been previously exercised, shall terminate and become immediately null and void on the expiration of ninety (90) days after the Optionee ceases to be an employee (whether by resignation, retirement, dismissal, total disability, death or otherwise) of the Company or a parent or a subsidiary of the Company; provided, however, the Option may thereafter by exercised as follows: (a) If the termination of employment was due to the Optionee's forced retirement after becoming totally disabled, the Optionee may, at any time or from time to time during a period of one hundred eighty (180) days after such termination of his employment, exercise the Option (except that in no event may the Option be exercised to any extent after the expiration of the term specified in Section 3 hereof) to the extent such Option was exercisable by him on the date of such termination of his employment. (b) If the termination of employment was due to the death of the Optionee while in the employ of the Company or a parent or a subsidiary of the Company or in the event of his death within ninety (90) days after termination of his employment, then the Option, to the extent that the Optionee was entitled to exercise such Option on the date of his death in the first instance or the date of his termination of employment in the second instance, may be exercised within one (l) year after such death by the Optionee's executors, administrators, heirs or legatees; provided, however, that in no event may the Option be exercised to any extent after the expiration of the term specified in Section 3 hereof.

Early Termination of Option. If Optionee is an employee of the Company or a parent or a subsidiary of the Company as of the date of the grant of the Option by the Company, the The Option and all rights under this --------------------------- Agreement, to the extent such rights shall not have been previously exercised, shall terminate and become immediately null and void on the expiration of ninety thirty (9030) days after the Optionee ceases to be an employee (whether by resignation, retirement, dismissal, total disability, death or otherwise) of the Company or a parent or a subsidiary of the Company; provided, however, the Option may thereafter by be exercised as follows: (a) If the termination of employment was due to the Optionee's forced retirement after becoming totally disabled, the Optionee may, at any time or from time to time during a period of one hundred eighty six (1806) days months after such termination of his employment, exercise the Option (except that in no event may the Option be exercised to any extent after the expiration of the term specified in Section 3 hereof) to the extent such Option was exercisable by him on the date of such termination of his employment. (b) If the termination of employment was due to the death of the Optionee while in the employ of the Company or a parent or a subsidiary of the Company or in the event of his death within ninety thirty (9030) days after termination of his employment, then the Option, to the extent that the Optionee was entitled to exercise such Option on the date of his death in the first instance or the date of his termination of employment in the second instance, may be exercised within one (l1) year after such death by the Optionee's executors, administrators, heirs or legatees; provided, however, that in no event may the Option be exercised to any extent after the expiration of the term specified in Section 3 hereof.

Early Termination of Option. If Optionee is an employee of the Company or a parent or a subsidiary of the Company as of the date of the grant of the Option by the Company, the The Option and all rights under this Agreement, to the extent such rights shall not have been previously exercised, shall terminate and become immediately null and void on the expiration of ninety (90) days after date that the Optionee ceases to be an employee (whether by resignation, retirement, dismissal, total disability, death or otherwiseother-wise) of the Company or a parent or a subsidiary of the Company; provided, however, the Option may thereafter by exercised as follows: (a) If the termination of employment was due to the Optionee's forced retirement after becoming totally disabled, the Optionee may, at any time or from time to time during a period of one hundred eighty (180) days after such termination of his employment, exercise the Option (except that in no event may the Option be exercised to any extent after the expiration of the term specified in Section 3 hereof) to the extent such Option was exercisable by him on the date of such termination of his employment. (b) If the termination of employment was due to the death of the Optionee while in the employ of the Company or a parent or a subsidiary of the Company or in the event of his death within ninety (90) days after termination of his employmentCompany, then the Option, to the extent that the Optionee was entitled to exercise such Option on the date of his death in the first instance or the date of his termination of employment in the second instancedeath, may be exercised within one (l) year after such death by the Optionee's executors, administrators, heirs or legatees; provided, however, that in no event may the Option be exercised to any extent after the expiration of the term specified in Section 3 hereof.