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

Effect of Termination of Employment or Service. An Option shall terminate upon or following an Optionee’s termination of employment with the Company and its Subsidiaries as follows: (i) In the event an Optionee’s employment terminates for any reason other than death, Disability, Cause or Retirement, then the Optionee may at any time within three (3) months after the later of (a) delivery of this Agreement; or (b) his or her termination of employment, exercise an Option. (ii) in the event the Optionee’s employment terminates, other than as a result of death or Cause, and the Optionee returns to employment with the Company within three (3) months after the termination, the termination will have no effect on the Option and the Optionee shall have the same number of shares, to the extent not exercised, as set forth in this Agreement; (iii) In the event the Optionee’s employment terminates as a result of Disability, then the Optionee may at any time within one (1) year after the later of (a) delivery of this Agreement; or (b) such termination, exercise such Option. (iv) In the event an Optionee’s employment terminates for Cause, the Option shall terminate immediately and no rights thereunder may be exercised. (v) In the event an Optionee dies while an employee of the Company or any Subsidiary or within three (3) months after termination as described in clause (i) above or within one (1) year after termination as a result of Disability as described in clause (iii) above or Retirement under clause (vi) below, then the Option may be exercised at any time within one (1) year after the later of (a) the Optionee’s death; or (b) delivery of this Agreement, by the person or persons to whom the Optionee’s rights pass by transfer or Beneficiary Designation, as the case may be, or, absent such a transfer or Beneficiary Designation, as the case may be, by the person or persons to whom such rights under the Option shall pass by will or the laws of descent and distribution. (vi) In the event an Optionee’s employment terminates as a result of Retirement, the Optionee may at any time within one (1) year after the later of (a) termination of service by reason of Retirement; or (b) delivery of this Agreement, exercise such Options.

Effect of Termination of Employment or Service. An Option shall terminate upon or following an Optionee’s 's termination of employment with the Company and its Subsidiaries as follows: (i) In the event an Optionee’s 's employment terminates for any reason other than death, Disability, Cause or Retirement, then the Optionee may at any time within three (3) months after the later of (a) delivery of this Agreement; or (b) his or her termination of employment, exercise an OptionOption to the extent, and only to the extent, the Option or portion thereof was exercisable at the date of such termination. (ii) in the event the Optionee’s 's employment terminates, other than as a result of death or Cause, and the Optionee returns to employment with the Company within three (3) months after the termination, the termination will have no effect on the Option and the Optionee shall have the same number of shares, to the extent not exercised, as and the same vesting schedule set forth in this Agreement; (iii) In the event the Optionee’s 's employment terminates as a result of Disability, then the Optionee may at any time within one (1) year after the later of (a) delivery of this Agreement; or (b) such termination, termination exercise such OptionOption to the extent, and only to the extent, the Option or portion thereof was exercisable on the date of termination. (iv) In the event an Optionee’s 's employment terminates for Cause, the Option shall terminate immediately and no rights thereunder may be exercised. (v) In the event an Optionee dies while an employee of the Company or any Subsidiary or within three (3) months after termination as described in clause (i) above or within one (1) year after termination as a result of Disability as described in clause (iii) above or Retirement under clause (vi) below, then the Option may be exercised at any time within one (1) year after the later of (a) the Optionee’s death; or (b) delivery of this Agreement, 's death by the person or persons to whom the Optionee’s 's rights pass by transfer or Beneficiary Designation, as the case may be, or, absent such a transfer or Beneficiary Designation, as the case may be, by the person or persons to whom such rights under the Option shall pass by will or the laws of descent and distribution; provided however, that an Option may be exercised to the extent, and only to the extent, that the Option or portion thereof was exercisable on the date of death or earlier termination. (vi) In the event an Optionee’s 's employment terminates as a result of Retirement, the Optionee may at any time within one (1) year after the later of (a) termination of service by reason of Retirement; or (b) delivery of this Agreement, exercise such OptionsOptions to the extent, and only to the extent, the Options or portion thereof was exercisable at the date of such termination.

Effect of Termination of Employment or Service. An Option shall terminate upon or following an Optionee’s 's termination of employment with the Company and its Subsidiaries as follows: (i) In the event an Optionee’s 's employment terminates for any reason other than death, Disability, Cause or Retirement, then the Optionee may at any time within three (3) months after the later of (a) delivery of this Agreement; or (b) his or her termination of employmentemployment and service as Nonemployee Director, exercise an OptionOption to the extent, and only to the extent, the Option or portion thereof was exercisable at the date of such termination. (ii) in the event the Optionee’s 's employment terminates, other than as a result of death or Cause, and the Optionee returns to employment with the Company within three (3) months after the termination, the termination will have no effect on the Option and the Optionee shall have the same number of shares, to shares and the extent not exercised, as same vesting schedule set forth in this Agreement; (iii) In the event the Optionee’s 's employment terminates as a result of Disability, then the Optionee may at any time within one (1) year after the later of (a) delivery of this Agreement; or (b) such termination, termination exercise such OptionOption to the extent, and only to the extent, the Option or portion thereof was exercisable on the date of termination. (iv) In the event an Optionee’s 's employment terminates for Cause, the Option shall terminate immediately and no rights thereunder may be exercised. (v) In the event an Optionee dies while an employee of the Company or any Subsidiary or within three (3) months after termination as described in clause (i) above or within one (1) year after termination as a result of Disability as described in clause (iii) above or Retirement under clause (vi) below, then the Option may be exercised at any time within one (1) year after the later of (a) the Optionee’s death; or (b) delivery of this Agreement, 's death by the person or persons to whom the Optionee’s 's rights pass by transfer or Beneficiary Designation, as the case may be, or, absent such a transfer or Beneficiary Designation, as the case may be, by the person or persons to whom such rights under the Option shall pass by will or the laws of descent and distribution; provided however, that an Option may be exercised to the extent, and only to the extent, that the Option or portion thereof was exercisable on the date of death or earlier termination. (vi) In the event an Optionee’s 's employment terminates as a result of Retirement, the Optionee may at any time within one (1) year after the later of (a) termination of service by reason of Retirement; or (b) delivery of this Agreement, exercise such Options.of

Effect of Termination of Employment or Service. An Option shall terminate upon or following an Optionee’s 's termination of employment with the Company and its Subsidiaries as follows: (i) In the event an Optionee’s 's employment terminates for any reason other than death, Disability, Cause or Retirement, then the Optionee may at any time within three (3) months after the later of (a) delivery of this Agreement; or (b) his or her termination of employmentemployment and service as Nonemployee Director, exercise an OptionOption to the extent, and only to the extent, the Option or portion thereof was exercisable at the date of such termination. (ii) in the event the Optionee’s 's employment terminates, other than as a result of death or Cause, and the Optionee returns to employment with the Company within three (3) months after the termination, the termination will have no effect on the Option and the Optionee shall have the same number of shares, to shares and the extent not exercised, as same vesting schedule set forth in this Agreement; (iii) In the event the Optionee’s 's employment terminates as a result of Disability, then the Optionee may at any time within one (1) year after the later of (a) delivery of this Agreement; or (b) such termination, termination exercise such OptionOption to the extent, and only to the extent, the Option or portion thereof was exercisable on the date of termination. (iv) In the event an Optionee’s 's employment terminates for Cause, the Option shall terminate immediately and no rights thereunder may be exercised. (v) In the event an Optionee dies while an employee of the Company or any Subsidiary or within three (3) months after termination as described in clause (i) above or within one (1) year after termination as a result of Disability as described in clause (iii) above or Retirement under clause (vi) below, then the Option may be exercised at any time within one (1) year after the later of (a) the Optionee’s death; or (b) delivery of this Agreement, 's death by the person or persons to whom the Optionee’s 's rights pass by transfer or Beneficiary Designation, as the case may be, or, absent such a transfer or Beneficiary Designation, as the case may be, by the person or persons to whom such rights under the Option shall pass by will or the laws of descent and distribution; provided however, that an Option may be exercised to the extent, and only to the extent, that the Option or portion thereof was exercisable on the date of death or earlier termination. (vi) In the event an Optionee’s 's employment terminates as a result of Retirement, the Optionee may at any time within one (1) year after the later of (a) termination of service by reason of Retirement; or (b) delivery of this Agreement, exercise such OptionsOptions to the extent, and only to the extent, the Options or portion thereof was exercisable at the date of such termination.