Common use of Post-Termination Exercise Period Clause in Contracts

Post-Termination Exercise Period. The Option (to the extent vested) may be exercised for three (3) months after the recipient thereof (the “Optionee”) ceases to be a Service Provider, which shall be measured from the last day of active service and not extended by any notice period required under local law. Notwithstanding the foregoing, in the event that the Optionee ceases to be a Service Provider as a result of a violation by the Optionee of the Company’s policies (including, the Code of Business Conduct and Ethics and other policies set forth in the Employee Handbook), the Option shall terminate immediately on the date that the Optionee ceases to be a Service Provider and shall no longer be vested or exercisable in any respect. Upon the death or Disability of the Service Provider, the Option (to the extent vested) may be exercised for twelve (12) months after the Optionee ceases to be a Service Provider. In no event shall the Option be exercised later than the expiration date of the Option.

Post-Termination Exercise Period. The Option (to the extent vested) may be exercised for three (3) months after the recipient thereof (the “Optionee”) Optionee ceases to be a Service Provider, which shall be measured from the last day of active service and not extended by any notice period required under local law. Notwithstanding the foregoing, in the event that the Optionee ceases to be a Service Provider as a result of a violation by the Optionee Service Provider of the Company’s policies (including, the Code of Business Conduct and Ethics and other policies set forth in the Employee Handbook), the Option shall terminate immediately on the date that the upon which Optionee ceases to be a Service Provider and shall no longer be vested or exercisable in any respect. Upon the death or Disability of the Service ProviderOptionee, the Option (to the extent vested) may be exercised for twelve (12) months after the Optionee ceases to be a Service Provider. In no event shall the Option be exercised later than the expiration date of the Option.