Common use of Term of the Option Clause in Contracts

Term of the Option. Except as otherwise provided in this Agreement, to the extent not previously exercised, the right to exercise the Option shall terminate on the tenth (10th) anniversary of the date of grant. Notwithstanding the foregoing, if an Optionee ceases to be a Board Member of the Company for any reason, except death and disability, he or she may, but only within ninety (90) days after the date he or she ceases to be a Board Member of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination, and in the case of the Optionee's death or disability, the Optionee (or the Administrator or Executor or other Representative of the Optionee's estate) may, but only within one (1) year after the date he or she ceases to be a Board Member of the Company due to death or disability, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination; provided, however that in no event may the Option be exercised after the ten (10) year term has expired. To the extent that the Optionee was not entitled to exercise an Option at the date of such termination, or if he or she does not exercise such Option (which he or she was entitled to exercise) within the time specified herein, the Option shall terminate.

Term of the Option. Except as otherwise provided in this Agreement, to the extent not previously exercised, the right to exercise the Option shall terminate on the tenth (10th) anniversary of the date Date of grantGrant. Notwithstanding the foregoing, if an Optionee ceases to be a Board Member an employee of the Company for any reason, except death and disability, he or she may, but only within ninety (90) days after the date he or she ceases to be a Board Member an employee of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination, and in the case of the Optionee's death or disability, the Optionee (or the Administrator or Executor or other Representative of the Optionee's estateEstate) may, but only within one (1) year after the date he or she ceases to be a Board Member an employee of the Company due to death or disability, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination; providedPROVIDED, however HOWEVER, that in no event may the Option be exercised after the its ten (10) year term has expired. To the extent that the Optionee was not entitled to exercise an Option at the date of such termination, or if he or she does not exercise such Option (which he or she was entitled to exercise) within the time specified herein, the Option shall terminate.

Term of the Option. Except as otherwise provided in this Agreement, to the extent not previously exercised, the right to exercise the Option shall terminate on the tenth (10th) anniversary of the date of grant. Notwithstanding the foregoing, if an Optionee ceases to be a Board Member an employee of the Company for any reason, except death and disability, he or she may, but only within ninety (90) days after the date he or she ceases to be a Board Member an employee of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination, and in the case of the Optionee's death or disability, the Optionee (or the Administrator or Executor or other Representative of the Optionee's estate) may, but only within one (1) year after the date he or she ceases to be a Board Member an employee of the Company due to death or disability, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination; provided, however that in no event may the Option be exercised after the ten (10) year term has expired. To the extent that the Optionee was not entitled to exercise an Option at the date of such termination, or if he or she does not exercise such Option (which he or she was entitled to exercise) within the time specified herein, the Option shall terminate.

Term of the Option. Except as otherwise provided in this Agreement, to the extent not previously exercised, the right to exercise the Option shall terminate on the tenth (10th) anniversary of the date Date of grantGrant. Notwithstanding the foregoing, if an Optionee ceases to be a Board Member an employee of the Company for any reason, except death and disability, ; he or she may, but only within ninety (90) days after the date he or she ceases to be a Board Member an employee of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination, and in the case of the Optionee's death or disability, the Optionee (or the Administrator or Executor or other Representative of the OptioneeEmployee's estateEstate) may, but only within one (1) year year, after the date he or she ceases to be a Board Member an employee of the Company due to death or disability, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination; provided, however that in no event may the Option be exercised after the its ten (10) year term has expired. To the extent that the Optionee was not entitled to exercise an Option at the date of such termination, or if he or she does not exercise such Option (which he or she was entitled to exercise) within the time specified herein, the Option shall terminate.

Term of the Option. Except as otherwise provided in this Agreement, to the extent not previously exercised, the right to exercise the Option shall terminate on the tenth (10th) anniversary of the date Date of grantGrant. Notwithstanding the foregoing, if an Optionee ceases to be serve as a Board Member of the Company Director for any reason, except death and disability, he or she may, but only within ninety (90) days after the date he or she ceases to be a Board Member Director of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination, and in the case of the Optionee's death or disability, the Optionee (or the Administrator or Executor or other Representative of the OptioneeDirector's estateEstate) may, but only within one (1) year after the date he or she ceases to be a Board Member Director of the Company due to death or disability, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination; provided, however that in no event may the Option be exercised after the its ten (10) year term has expired. To the extent that the Optionee was not entitled to exercise an Option at the date of such termination, or if he or she does not exercise such Option (which he or she was entitled to exercise) within the time specified herein, the Option shall terminate. 6.

Term of the Option. Except as otherwise provided in this Agreementagreement, to the extent not previously exercised, the right to exercise the Option shall terminate on the tenth (10th) anniversary of the date Date of grantGrant. Notwithstanding the foregoing, if an Optionee ceases to be a Board Member an employee of the Company for any reason, except death and disability, he or she may, but only within ninety (90) days after the date he or she ceases to be a Board Member an employee of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination, and in the case of the Optionee's death or disability, the Optionee (or the Administrator or Executor or other Representative of the Optionee's estateEstate) may, but only within one (1) year after the date he or she ceases to be a Board Member an employee of the Company due to death or disability, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination; provided, however that in no event may the Option be exercised after the its ten (10) year term has expired. To the extent that the Optionee was not entitled to exercise an Option at the date of such termination, or if he or she does not exercise such Option (which he or she was entitled to exercise) within the time specified herein, the Option shall terminate.