Common use of Loss of Status Clause in Contracts

Loss of Status. (a) If, prior to the Expiration Date, Grantee does not stand for reelection by a vote of the Company's stockholders and retires from the Board at the end of Grantee's term as Director and Grantee ceases to be an Eligible Person, then subject to Section 5(c), (i) the Options shall expire on the earlier of the Expiration Date or the date that is ninety days after the last day of Grantee's term as a Director; (ii) the Options that are unexercisable on the last day of Grantee's term as a Director shall continue to vest and become exercisable until the Options expire; and (iii) the Options that are exercisable on the last day of Grantee's term as a Director and the Options that become exercisable thereafter pursuant to clause (ii) shall be exercisable until the Options expire.

Loss of Status. (a) If, prior to the Expiration Date, Grantee does not stand for reelection by a vote of the Company's ’s stockholders and retires from the Board at the end of Grantee's ’s term as Director and Grantee ceases to be an Eligible Person, then subject to Section 5(c), (i) the Options shall expire on the earlier of the Expiration Date or the date that is ninety days after the last day of Grantee's ’s term as a Director; (ii) the Options that are unexercisable on the last day of Grantee's ’s term as a Director shall continue to vest and become exercisable until the Options expire; and (iii) the Options that are exercisable on the last day of Grantee's ’s term as a Director and the Options that become exercisable thereafter pursuant to clause (ii) shall be exercisable until the Options expire.