Common use of Termination of Affiliation Clause in Contracts

Termination of Affiliation. (a) Subject to the following provisions of this Section 7 and Article VI of the Plan, this Option may not be exercised unless at the time of exercise the Optionee is an Employee of the Company or a Subsidiary. (b) If the Optionee's position as an Employee of the Company or a Subsidiary shall terminate for any reason other than death, the Optionee may exercise this Option, to the same extent it was exercisable on the date of such termination, during the 60-day period following the date of such termination. In no event may the Optionee exercise this Option later than the date on which the Option would have expired under Section 6 hereof. (c) If the Optionee's position as an Employee of the Company or a Subsidiary shall terminate by reason of the Optionee's death, the executor or administrator of the Optionee's estate or the person to whom this Option is transferred by will or the laws of descent or distribution may exercise this Option with respect to any or all shares covered by this Option within 60 days after the date of the Optionee's death.

Termination of Affiliation. (a) Subject to the following provisions of this Section 7 and Article VI of the Plan, this Option may not be exercised unless at the time of exercise the Optionee is an Employee of the Company or a Subsidiary. (b) If the Optionee's position as an Employee of the Company or a Subsidiary shall terminate for any reason other than death, the Optionee may exercise this Option, to the same extent it was exercisable on the date of such termination, during the 60-day period following the date of such termination. In no event may the Optionee exercise this Option later than the date on which the Option would have expired under Section 6 hereof. (c) If the Optionee's position as an Employee of the Company or a Subsidiary shall terminate by reason of the Optionee's death, the executor or administrator of the Optionee's estate or the person to whom this Option is transferred by will or the laws of descent or distribution may exercise this Option with respect to any or all shares covered by this Option within 60 days after the date of the Optionee's death.of

Termination of Affiliation. (a) Subject to the following provisions of this Section 7 and Article VI of the Plan, this Option may not be exercised unless at the time of exercise the Optionee is an Employee of the Company or a Subsidiary. (b) If the Optionee's position as an Employee of the Company or a Subsidiary shall terminate for any reason other than death, the Optionee may exercise this Option, to the same extent it was exercisable on the date of such termination, during the 60-day period following the date of such termination. In no event may the Optionee exercise this Option later than the date on which the Option would have expired under Section 6 hereof. (c) If the Optionee's position as an Employee of the Company or a Subsidiary shall terminate by reason of the Optionee's death, the executor or administrator of the Optionee's estate or the person to whom this Option is transferred by will or the laws of descent or distribution may exercise this Option with respect to any or all shares covered by this Option within 60 days after the date of the Optionee's death.or