Common use of Exercise After Termination of Employment Clause in Contracts

Exercise After Termination of Employment. If the Optionee's employment by the Company or an Affiliate is terminated, the period within which to exercise the Option may be subject to earlier termination as set forth below. The Board's determination of the reason for termination of the Optionee's employment shall be conclusive and binding on the Optionee and his or her legal representatives or legatees. Any transfer of employment from the Company to any Affiliate of the Company shall not be deemed to be a termination of employment for purposes of this Agreement.

Exercise After Termination of Employment. If the Optionee's employment by ---------------------------------------- the Company or an Affiliate is terminated, the period within which to exercise the Option may be subject to earlier termination as set forth below. The Board's determination of the reason for termination of the Optionee's employment shall be conclusive and binding on the Optionee and his or her legal representatives or legatees. Any transfer of employment from the Company to any Affiliate of the Company shall not be deemed to be a termination of employment for purposes of this Agreement.

Exercise After Termination of Employment. If the Optionee's employment by the Company or an Affiliate is terminated, the period within which to exercise the Option may be subject to earlier termination as set forth below. The Board's determination of the reason for termination of the Optionee's employment shall be conclusive and binding on the Optionee and his or her legal representatives or legatees. Any transfer of employment from the Company to any Affiliate of the Company shall not be deemed to be a termination of employment for purposes of this Agreement.

Exercise After Termination of Employment. If the Optionee's employment by the Company or an Affiliate is terminated, the period within which to exercise the Option may be subject to earlier termination as set forth below. The BoardChairman's determination of the reason for termination of the Optionee's employment shall be conclusive and binding on the Optionee and his or her legal representatives or legatees. Any transfer of employment from the Company to any Patriot American Hospitality, Inc. or the Affiliate of the Company either of them shall not be deemed to be a termination of employment for purposes of this Agreement.