Common use of Exercise Period Following Termination of Continuous Service Clause in Contracts

Exercise Period Following Termination of Continuous Service. This Option, to the extent vested as of the date that Optionee’s Continuous Service with the Company and its Subsidiaries terminates, may be exercised for up to ninety (90) days following such termination of Optionee’s Continuous Service with the Company and its Subsidiaries; provided, however, that if Optionee’s Continuous Service terminates due to Optionee’s death or Disability, this Option may be exercised for up to twelve months following such termination of Optionee’s Continuous Service. To the extent not exercised within such period of time, the Option shall be canceled. Notwithstanding the foregoing, however, in no event may this Option be exercised later than the earlier of (i) the Expiration Date, (ii) the date that Optionee’s Continuous Service with the Company or any of its Subsidiaries is terminated for “Cause” (as defined above), or (iii) the date that Optionee’s Continuous Service with the Company or any of its Subsidiaries terminates due to Optionee’s resignation or retirement that is not a “Qualifying Retirement” (as defined above).