Common use of Termination of Options Clause in Contracts

Termination of Options. To the extent not exercised, the Options shall terminate either on the Termination Date or, in the event that the Optionholder ceases to be employed by the Company, for any reason whatsoever, then this Option Agreement shall terminate 90 days following the date of such termination, or resignation, as the case may be, and the Optionholder shall have no further rights under this Option Agreement.

Termination of Options. To the extent not exercised, the Options Option shall terminate either on the Termination Date or, in the event that the Optionholder ceases to be employed by the Company, for any reason whatsoever, then this Option Agreement shall terminate 90 or thirty days following the date of such terminationon which the Optionee is no longer employed by the Company (or a subsidiary thereof), or resignation, as the case may be, and the Optionholder shall have no further rights under this Option Agreementwhichever is sooner.