Special Termination Period Clause Samples

Special Termination Period. The Company has established an ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Policy (as such policy shall be amended from time to time, the "Policy") relative to trading while in possession of material, undisclosed information. Under the Policy, officers, directors, employees and consultants of the Company and its subsidiaries are prohibited from trading in securities of the Company during certain "Blackout Periods" as described in the Policy. If (i) the last day of the Termination Period set forth in Section I is during such a Blackout Period, or (ii) exercise of the Option on the last day of the Termination Period set forth in Section I is prevented by operation of Section II.C above, then this Option shall automatically remain exercisable until fourteen (14) days after (x) the first date on which such Blackout Period is no longer applicable to the Optionee (if sale of Shares was prevented by clause (i) above) and/or (y) the first date after the last day of the Termination Period that the Option becomes exercisable (if exercise was prevented by clause (ii) above). Notwithstanding the provisions of this Section II.J, in no event may this Option by exercised after the Expiration Date.