Common use of Option Exercise Extension Clause in Contracts

Option Exercise Extension. In the event that Derma U.S. or Derma Canada, without cause, either terminates Employee’s employment or fails to renew this Agreement upon expiration hereof, or in the event Employee tenders his resignation upon a “change in control,” then the period to exercise any option to purchase the securities of Derma U.S. of which Employee may be possessed shall be extended to the expiration thereof as set forth in the option instrument.

Option Exercise Extension. In the event that Derma U.S. or Derma Canada, without cause, either terminates Employee’s employment or fails to renew this Agreement upon expiration hereof, or in the event Employee tenders his resignation upon a “change in control,” then the period to exercise any option to purchase the securities of Derma U.S. of which Employee may be possessed shall be extended to the earlier to occur of (i) the expiration thereof as set forth in the option instrumentinstrument or (ii) the 10th anniversary of the original date of grant.