Common use of Term of Options Clause in Contracts

Term of Options. (a) Each Option shall expire on the tenth anniversary of the Grant Date, but shall be subject to earlier termination as provided in subsections (b) and (c) below. (b) If the Employee is terminated for Cause (as defined in Schedule II hereto) or voluntarily terminates his employment with the Company at any time without Good Reason (as defined in Schedule II), the Option shall terminate on the date of such termination of employment, whether or not then fully vested and exercisable. (c) If the Employee is terminated by the Company without Cause, resigns for Good Reason, dies, or becomes Disabled (as defined in Schedule II) at any time during the term of his employment by the Company, any portion of the Option that is not then fully vested and exercisable shall terminate immediately, provided, however, that the board of directors of the Company (the "Board") shall have the discretion to vest any portion of such Employee's Options that have not yet become eligible to vest, and any such accelerated Options shall be subject to the same terms and conditions as other Options that have vested pursuant to Section 3. Any portion of the Option that is vested and exercisable shall terminate on the 120th day following such termination of employment.

Term of Options. (a) Each Option shall expire on the tenth anniversary of the Grant Date, but shall be subject unless terminated earlier pursuant to earlier termination as provided in subsections (b4(b) and (c4(c) below. (b) If the Employee Optionee is terminated from his or her employment/consultancy for Cause (as defined in Schedule II heretoSection 14) or voluntarily terminates his employment employment/consultancy with the Company at any time without Good Reason (as defined Section 14) or, if the Optionee is a director, the Optionee is removed as a director for Cause (as defined in Schedule IISection 14), the Option shall terminate on the date of such termination of employment, whether or not then fully vested and exercisable. (c) If the Employee is terminated by the Company without Cause, resigns for Good Reason, Optionee dies, or becomes is Disabled (as defined in Schedule IISection 14) at any time during while an employee/consultant/director, or is terminated without Cause, or terminates for Good Reason, or, if the term of his employment by the CompanyOption is a director, is removed without Cause or otherwise resigns as a director, any portion of the Option that is not then fully vested and exercisable shall terminate immediately, ; provided, however, that the board Board of directors Directors or committee appointed by the Board of Directors for purposes of administration and operation of the Company Plan (the "Board"“Committee”) shall have the discretion to vest any portion of such Employee's Options that have are not yet become eligible to vest, and any such accelerated Options shall be subject to the same terms and conditions as other Options that have vested pursuant to Section 3exercisable. Any portion of the Option that is vested and then exercisable shall terminate on the 120th 90th day following such termination of employment.

Term of Options. (a) Each Option shall expire on the tenth anniversary of the Grant Date, but shall be subject to earlier termination as provided in subsections (b) and (c) below. (b) If the Employee is terminated for Cause (as defined in Schedule II hereto) or voluntarily terminates his his/her employment with the Company at any time without Good Reason (as defined in Schedule II), the Option shall terminate on the date of such termination of employment, whether or not then fully vested and exercisable. (c) If the Employee is terminated by the Company without Cause, resigns for Good Reason, dies, or becomes Disabled (as defined in Schedule II) at any time during the term of his his/her employment by the Company, any portion of the Option that is not then fully vested and exercisable shall terminate immediately, ; provided, however, that the board of directors of the Company (the "“Board"”) shall have the discretion to vest any portion of such Employee's ’s Options that have not yet become eligible to vest, and any such accelerated Options shall be subject to the same terms and conditions as other Options that have vested pursuant to Section 3. Any portion of the Option that is vested and exercisable shall terminate on the 120th day following first anniversary of the date of such termination of employment.