Common use of Termination of Employment/Service Clause in Contracts

Termination of Employment/Service. If an Optionee's employment (or other service) with the Company terminates either (i) for Cause or (ii) voluntary on the part of the Optionee and without Good Reason (as determined by the Board, in its sole discretion), the options, to the extent not previously exercised, will terminate on the date of such termination of employment (or service) unless otherwise indicated by the Board. If an Optionee's employment or other service with the Company terminates for reasons other than (a) termination that is either (i) for Cause, (ii) voluntary on the part of the Optionee and without Good Reason, (b) termination by reason of disability and (c) death, options under the Plan may be exercised not later than three (3) months after such termination, but may be exercised only to the extent the options were exercisable on the date of termination, and in no event after ten (10) years from the date of granting thereof. Except as may be otherwise provided in this Agreement, the Option granted hereunder shall not be affected by any change of employment so long as Employee continues to be employed by the Corporation, a Parent Corporation, or a Subsidiary. Options granted for past employees at the time the Plan was adopted, shall have a three (3) year period after the date that a registration statement for a public offering of the Corporation's stock becomes effective with the Securities and Exchange Commission. If such Options are not exercised within the time period allotted above, the Options will be terminated, cancelled and void.

Termination of Employment/Service. If an Optionee's a Holder’s employment (or other service) with the Company terminates either (i) for Cause or (ii) voluntary on the part of the Optionee Holder and without Good Reason (as determined by the Boardboard of directors, in its sole discretion), the optionsoptions which have vested, to the extent not previously exercised, will terminate on the date of such termination of employment (or service) unless otherwise indicated by the Board). If an Optionee's a Holder’s employment or other service with the Company terminates for reasons other than (a) termination that is either (i) for Cause, Cause or (ii) voluntary on the part of the Optionee Holder and without Good Reason, (b) termination by reason of disability and (c) death, options under the Plan that have vested may be exercised not later than three (3) months after such termination, but may be exercised only to the extent the options were vested and exercisable on the date of termination, and in no event after ten (10) years from the date of granting thereof. If a Holder’s employment or other service with the Company terminates (i) by reason of disability or (ii) death, options under the Plan that have vested may be exercised not later than one (1) year after such termination, but may be exercised only to the extent the Options were vested and exercisable on the date of termination, and in no event after ten (10) years from the date of granting thereof. Except as may be otherwise provided in this Agreement, the Option Options granted hereunder shall not be affected by any change of employment so long as Employee Holder continues to be employed by the CorporationCompany, a Parent Corporation, or a Subsidiary. Options granted for past employees at the time the Plan was adopted, shall have a three (3) year period after the date that a registration statement for a public offering of the Corporation's stock becomes effective with the Securities and Exchange Commission. If such Options are not exercised within the time period allotted above, the Options will be terminated, cancelled and void.