Common use of Exercise of Taurus Option(s) Following Termination of Employment Clause in Contracts

Exercise of Taurus Option(s) Following Termination of Employment. If the Employee’s employment is terminated for any reason other than a termination by the Company for Cause or resignation by the Employee without Good Reason, the Employee (or his designated beneficiary or his estate in the event of the termination of the Employee’s employment due to death) may exercise any Taurus Option(s) vested as of the Termination Date at any time prior to the original expiration date of such Taurus Option(s) or within twelve months after the Termination Date, whichever period is shorter. If the Employee’s employment is terminated for Cause, any Taurus Options, to the extent not exercised before such termination, shall terminate on the Termination Date.