Common use of Term; Forfeiture Clause in Contracts

Term; Forfeiture. In the event of Optionee’s termination of employment with the Company and its Subsidiaries (whether voluntarily by the Optionee or involuntarily by the Company) (in either case, a “Termination of Employment”) for any reason other than for Cause or Optionee’s death or disability, the Option outstanding on such date of Termination of Employment, to the extent vested on such date, may be exercised by Optionee (or, in the event of Optionee’s subsequent death, by Optionee’s Heir (as defined below)) until the expiration of the Option Period, but not thereafter. In no event shall the Option be exercisable after the tenth (10th) anniversary of the Date of Grant. To the extent the Option is not vested on Optionee’s date of Termination of Employment, the Option shall automatically lapse and be canceled unexercised as of such date.