Common use of Effect of Termination of Employment or Death Clause in Contracts

Effect of Termination of Employment or Death. (a) If the Company terminates Optionee's employment for Cause (as defined in Section 4(a) of the Employment Agreement), or Optionee resigns for other than Good Reason or Special Resignation pursuant to Section 4(e) or 4(f) of the Employment Agreement, Optionee's right to exercise any outstanding Options shall terminate immediately upon his termination of employment.

Effect of Termination of Employment or Death. (a) If the Company terminates Optionee's ’s employment for Cause (as defined in Section 4(a) of the Employment Agreement), or Optionee resigns for other than Good Reason or Special Resignation pursuant to Section 4(e) or 4(f) of the Employment Agreement, Optionee's ’s right to exercise any outstanding Options shall terminate immediately upon his termination of employment.