Common use of Termination of Board Service Clause in Contracts

Termination of Board Service. The Option shall immediately terminate as to all Shares subject thereto on the date of the termination of Participant’s service on the Board if such Shares have not yet vested pursuant to Paragraph 4 above on or before the date of such termination of Participant’s service on the Board. If the Shares subject to the Option have vested pursuant to Paragraph 4 above on or before the date of the termination of Participant’s service on the Board, then the Option shall terminate on the earlier of (i) the date that is one year after the date of termination of Participant’s service on the Board and (ii) the expiration of the Option Period.

Termination of Board Service. The Option shall immediately terminate as to all Shares subject thereto on the date of the termination of Participant’s Optionee's service on the Board if such Shares have not yet vested pursuant to Paragraph 4 above on or before the date of such termination of Participant’s Optionee's service on the Board. If the Shares subject to the Option have vested pursuant to Paragraph 4 above on or before the date of the termination of Participant’s Optionee's service on the Board, then the Option shall terminate on the earlier of (i) the date that is one year after the date of termination of Participant’s Optionee's service on the Board and (ii) the expiration of the Option Period.