Common use of Extension of Option Exercise Period Clause in Contracts

Extension of Option Exercise Period. If this Section 1 applies, then all of the Options held by the Employee at the time of the termination of his employment shall remain exercisable until the earlier of (i) the date 18 months after the termination of the Employee’s employment or (ii) the date such Options would have expired if the Employee’s employment had not terminated.

Extension of Option Exercise Period. If this Section 1 2 applies, and if the termination of the Employee’s employment is effective after December 31, 2005, then all of the Options held by the Employee at the time of the termination of his employment shall remain exercisable until the earlier of (i) the date 18 months after the termination of the Employee’s employment or (ii) the date such Options would have expired if the Employee’s employment had not terminated.of: