Common use of EXERCISE FOLLOWING CESSATION OF EMPLOYMENT OR SERVICE Clause in Contracts

EXERCISE FOLLOWING CESSATION OF EMPLOYMENT OR SERVICE. If the Optionee's employment or service with the Corporation ceases for any reason or no reason, whether voluntarily or involuntarily, with or without cause, other than by death, Disability or Retirement, the Option (to the extent it has not previously been exercised and is exercisable at the time of such cessation) may be exercised within ninety (90) days after the date of such cessation.