Common use of Termination of Service Due to Death, Disability or Retirement Clause in Contracts

Termination of Service Due to Death, Disability or Retirement. In the event an Optionee's services with the Company are terminated by reason of the Optionee's death, disability or retirement, all outstanding Options then held by the Optionee to the extent that they have vested on the date of termination shall continue to be or shall become immediately exercisable in full and remain exercisable for the Option Period.