Common use of Termination of Status as Employee, Director or Consultant Clause in Contracts

Termination of Status as Employee, Director or Consultant. If the Optionee’s Continuous Service shall cease for any reason other than permanent and total disability or death, the Optionee may, but only within 90 days after the date of Termination of Service, exercise the Option to the extent that the Optionee was entitled to exercise it at the date of Termination of Service, subject to the condition that no Option shall be exercised after the expiration of the Term (as defined in Section 6) of the Option.

Termination of Status as Employee, Director or Consultant. If the Optionee’s Continuous Service an Optionee shall cease to be an Employee, Director or Consultant for any reason other than permanent and total disability or death, the Optionee he or she may, but only within 90 thirty (30) days after the date of Termination of Service, exercise the his or her Option to the extent that the Optionee he or she was entitled to exercise it at the date of Termination of Service, subject to the condition that no Option shall be exercised after the expiration of the Term (as defined in Section 6) of the OptionOption period.

Termination of Status as Employee, Director or Consultant. If the Optionee’s Continuous Service an Optionee shall cease to be an Employee, Director or Consultant for any reason other than permanent and total disability or death, the Optionee he may, but only within 90 days after the date of Termination of Service, exercise the his Option to the extent that the Optionee he was entitled to exercise it at the date of Termination of Service, subject to the condition that no Option shall be exercised after the expiration of the Term (as defined in Section 67) of the Option.