Common use of Exercise of Option After Termination of Employment Clause in Contracts

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and the Committee or the Company may in its discretion extend the Expiration Date of the Option to accommodate such exercise. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty (60) months after Termination of Employment, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and the Committee or the Company may in its discretion extend the Expiration Date of the Option to accommodate such exercise. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty thirty-six (6036) months after Termination of Employment, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and the Committee or the Company may in its discretion extend the Expiration Date of the Option to accommodate such exercise. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty (60) months after Termination to the full term of Employmentthe option, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and the Committee or the Company may in its discretion extend the Expiration Date of the Option to accommodate such exercise. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty thirty-six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty (60) months after Termination to the full term of Employmentthe option, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and but not later than the Committee or the Company may in its discretion extend the Option’s Expiration Date of the Option to accommodate such exerciseDate. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirementRetirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty thirty-six (6036) months after Termination of Employment, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and the Committee or the Company may in its discretion extend the Expiration Date of the Option to accommodate such exercise. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirementRetirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty thirty-six (6036) months after Termination of Employment, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and but not later than the Committee or the Company may in its discretion extend the Option’s Expiration Date of the Option to accommodate such exerciseDate. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty thirty-six (6036) months after Termination of Employment, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and the Committee or the Company may in its discretion extend the Expiration Date of the Option to accommodate such exercise. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty thirty-six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty (60) months after Termination of Employment, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and but not later than the Committee or the Company may in its discretion extend the Option’s Expiration Date of the Option to accommodate such exerciseDate. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirementRetirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty (60) months after Termination of Employment, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause Cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and but not later than the Committee or the Company may in its discretion extend the Option’s Expiration Date of the Option to accommodate such exerciseDate. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty (60) months after Termination to the full term of Employmentthe option, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause Cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and but not later than the Committee or the Company may in its discretion extend the Option’s Expiration Date of the Option to accommodate such exerciseDate. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty (60) months after Termination of Employment, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause Cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions: (a) If the Employee dies while the Option is exercisable under the terms of this Agreement, the Employee’s Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s death, and but not later than the Committee or the Company may in its discretion extend the Option’s Expiration Date of the Option to accommodate such exerciseDate. (b) If the Employee’s employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty six (36) months after Termination of Employment, but not later than the Option’s Expiration Date. (c) If the Employee’s employment is terminated due to his retirementRetirement, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within sixty (60) months after Termination to the full term of Employmentthe option, but not later than the Option’s Expiration Date. (d) If the Employee’s employment is terminated other than for good cause Cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s Expiration Date.

Exercise of Option After Termination of Employment. This Option is exercisable by the Employee only while he is employed by the Company or a Subsidiary, subject to the following exceptions:exceptions (or as authorized by the Committee): (a) If the Employee dies while the Option Option, or any portion thereof, is exercisable under the terms of this Agreement, the Employee’s 's Beneficiary may exercise such rights, subject to the limitation in Subsection 3.1(b). The Option must be exercised within twelve (12) months after the Employee’s 's death, and the Committee or the Company may in its discretion extend the Expiration Date of the Option to accommodate such exercise. (b) If the Employee’s 's employment is terminated due to his permanent and total disability, as defined in Section 22(c)(3) of the Code, the Employee may exercise the Option, subject to the limitation in Subsection 3.1(b), within thirty thirty-six (36) months after Termination of Employment, but not later than the Option’s 's Expiration Date. (c) If the Employee’s 's employment is terminated due to his retirement, the Employee may exercise the Option, subject to the limitations limitation of Subsection 3.1(b), within sixty (60) months after Termination of Employment, but not later than the Option’s 's Expiration Date. (d) If the Employee’s 's employment is terminated other than for good cause or the reasons set forth in Subsections (a) through (c) above, the Employee may exercise the Option, subject to the limitations of Subsection 3.1(b), within six (6) months after Termination of Employment, but not later than the Option’s 's Expiration Date.