Common use of Provisions for Termination Clause in Contracts

Provisions for Termination. In no event may Optionee exercise this Option after the Term/Expiration Date as provided above. In the event that Optionee’s engagement with the Company should terminate, the outstanding vested Options on the date of such termination, shall be exercisable for (i) three (3) months after such termination (except in the case of termination by reason of death or Disability); or (ii) six (6) months after such termination by reason of Optionee’s death or Disability. Notwithstanding the foregoing, in the event of Optionee’s death within three (3) months after the date of termination, the Optionee’s estate or heirs, as applicable, may exercise all Options, which are vested and exercisable at the time of Optionee’s termination of engagement, within six (6) months after the Optionee’s death, but in no event after the Expiration Date as provided above. Notwithstanding the above, in the event that Optionee’s engagement with the Company should terminate for Cause, the entire unexercised Option (whether vested or not) shall ipso facto terminate. For purposes hereof, termination of Optionee’s engagement shall be deemed effective as detailed in Section 10.5 of the Plan.

Provisions for Termination. In no event may Optionee exercise this Option after the Term/Expiration Date as provided above. In the event that Optionee’s engagement with the Company should terminate, all Options, which are vested and exercisable at the outstanding vested Options on the date time of such termination, shall be exercisable for within: (i) three (3) months after the date of such termination (except in the case of termination by reason of death or Disability); or (ii) six (6) months after the date of such termination by reason of Optionee’s death or Disability. Notwithstanding the foregoing, in the event of Optionee’s death within three (3) months after the date of termination, the Optionee’s estate or heirs, as applicable, may exercise all Options, which are vested and exercisable at the time of Optionee’s termination of engagement, within six (6) months after the Optionee’s death, but in no event after the Expiration Date as provided above. Notwithstanding the above, in the event that Optionee’s engagement with the Company should terminate for Cause, the entire unexercised Option (whether vested or not) shall ipso facto terminate. For purposes hereof, termination of Optionee’s engagement shall be deemed effective as detailed in Section 10.5 of the Plan.