Common use of Termination of Directorship Clause in Contracts

Termination of Directorship. If the Optionee ceases to be a director of the Company or any Subsidiary for any reason other than because of death or disability, this option shall continue through its term as defined in Paragraph 3 hereof as to any shares that are exercisable pursuant to Paragraph 3 as of the termination date of such directorship and any unvested shares shall never become exercisable.

Termination of Directorship. If the Optionee ceases to be a director of the Company or any Subsidiary for any reason other than because of death or disabilitydeath, this option shall continue through its term as defined in Paragraph 3 hereof as to any shares that are exercisable pursuant to Paragraph 3 as of the termination date of such directorship and any unvested shares shall never become exercisable.