Common use of Oculus Options Clause in Contracts

Oculus Options. Notwithstanding the terms of any option agreements (or option plans governing such option agreements) granting employees or directors of Ruthigen stock options to purchase the common stock of Oculus (the “Oculus Options”), such individuals shall continue to vest in their Oculus Options until termination of service as an employee, director or consultant of Ruthigen and such Oculus Options shall expire on the earlier of (a) 90 days following such termination of service with Ruthigen, (b) 90 days following the date Oculus notifies the individual that Oculus and its Affiliates own less than 19.9% of the issued and outstanding Common Stock, and (c) the option expiration date set forth in the applicable option agreement.