Common use of AND EXERCISABILITY Clause in Contracts

AND EXERCISABILITY. (a) The Stock Option is fully vested and immediately exercisable with respect to all Option Shares, and it shall continue to be exercisable by ▇▇▇▇▇ or his successors as contemplated herein at any time or times prior to the Expiration Date. (b) In the event that ▇▇▇▇▇' employment with the Company terminates for any reason or under any circumstances, including ▇▇▇▇▇' resignation, retirement or termination by the Company, upon death or disability, or for any other reason, regardless of the circumstances thereof, this Stock Option shall thereafter continue to be fully vested and fully exercisable by ▇▇▇▇▇ or his successors as contemplated herewith at any time or times prior to the Expiration Date.