Common use of Termination by Resignation Clause in Contracts

Termination by Resignation. In the event the employment of Optionee is terminated by reason of resignation, any outstanding Option granted to the Optionee which is vested as of the date of notice of resignation may be exercised by the Optionee within the period beginning on the date of such notice of resignation and ending three (3) months after such date, unless the Option, by its term, expires earlier.

Termination by Resignation. In the event that Optionee's Service to the employment of Optionee Company is terminated by reason of resignation, any outstanding Option granted to the Optionee which is vested as of the date of notice of resignation may be exercised by the Optionee within the period beginning on the date of such notice of resignation and ending three (3) months after such date, unless the Option, by its term, expires earlier.