Common use of Extension of Option Exercise Period Clause in Contracts

Extension of Option Exercise Period. If this Section 2 applies, and if the termination of the Employee’s employment is effective after December 31, 2005, then all of the Options held by the Employee at the time of the termination of his employment shall remain exercisable until the earlier of: (i) The later of (A) the date 12 months after the termination of the Employee’s employment or (B) with respect to any increment of such Options that becomes exercisable later than nine months after the termination of the Employee’s employment, the date three months after such increment becomes exercisable; or (ii) The date such Options would have expired if the Employee’s employment had not terminated.

Extension of Option Exercise Period. If this Section 2 1 applies, and if the termination of the Employee’s employment is effective after December 31, 2005, then all of the Options held by the Employee at the time of the termination of his employment shall remain exercisable until the earlier of: of (i) The later of (A) the date 12 18 months after the termination of the Employee’s employment or (B) with respect to any increment of such Options that becomes exercisable later than nine months after the termination of the Employee’s employment, the date three months after such increment becomes exercisable; or (ii) The the date such Options would have expired if the Employee’s employment had not terminated.