Common use of Termination of the Option Clause in Contracts

Termination of the Option. The Option shall terminate and may no longer be exercised on the first to occur of (a) the Option Term Date as defined above, (b) one year after the optionee ceases being a director or, (c) upon a Transfer of Control to the extent provided in paragraph 9 below.

Termination of the Option. The Except as provided in Section 7.2, the Option shall terminate and may no longer be exercised on the first to occur of (a) the Option Term Date as defined aboveExpiration Date, (b) one the later to occur of (i) the last day of the calendar year in which a Change in Control occurs or (ii) 2 1/2 months after the optionee ceases being a director or, date of such Change in Control or (c) upon a Transfer the termination of Control to the extent provided Optionee’s Service for Cause as described in paragraph 9 belowSection 7.