Common use of IMPROPER ACTIVITY Clause in Contracts

IMPROPER ACTIVITY. If the Optionee's employment is terminated for cause, whether or not he is a party to a written employment contract, the vested and exercisable portion of the Option granted hereunder may be exercised until the earlier of (a) 30 days after his employment terminates or (b) the date on which the Option otherwise terminates or expires in accordance with the applicable provisions of the Plan and this Agreement. Notwithstanding anything contained herein to the contrary, if the Optionee's employment terminates for cause on or before December 31, 1995, then January 1, 1996, shall be deemed to be the date of the Optionee's termination of employment for purposes of any post-employment exercisability of any portion of the Option which was vested but not exercisable by the Optionee immediately prior to the actual date of the Optionee's termination of employment. For purposes of this Section 4, an Optionee's employment shall be deemed to be terminated for "cause" if he is discharged for "cause" or any like term as defined in a written employment contract with the Optionee, if any.