Common use of Option Period and Limitations on Exercise Clause in Contracts

Option Period and Limitations on Exercise. The Optionee may exercise the Option (subject to the limitations on exercise set forth in this Stock Option Agreement and in the Plan), to the extent the Option is vested and has not terminated. Any limitation on the exercise of an Option may be rescinded, modified or waived by the Committee, in its sole discretion, at any time and from time to time after the Grant Date of the Option, so as to accelerate the time at which the Option may be exercised. If the Optionee terminates employment or other relationship with the Company by reason of "permanent and total disability" (within the meaning of Section 22(e)(3) of the Code), the Option shall continue to vest, and shall be exercisable to the extent that it is vested, for a period of one year after such termination of employment or service, subject to earlier termination of the Option as provided in Section 6.1 above.