Common use of Extension of Exercise Period Clause in Contracts

Extension of Exercise Period. Notwithstanding anything contained in any option agreement evidencing the grant of Options or the Plans, (a) if the Optionholder's employment is terminated with the Company and the option agreement or Plan provides for a period from the Optionholder's date of termination to exercise the Options, or (b) if the option agreement or Plan provides that an Option will expire if unexercised at any date, then, in either case, the Optionholder shall have until the first occurrence of a Change of Control, Exit Event or Public Offering, in each case that is not an NCP Liquidity Event, to exercise the Options.