Common use of Termination of Directorship Clause in Contracts

Termination of Directorship. Upon termination of the Grantee's membership on the Board of Directors of the Corporation for any reason (other than death), the option granted hereby shall terminate as of the date of termination of the Grantee's membership on the Board, but in no event later than the date of expiration of the option as provided above in this Section 2, provided that any unexpired portion of the option granted hereby which is otherwise exercisable on the date of such termination may be exercised by the Grantee at any time within three (3) months following the date of such termination, unless the Grantee dies during such three (3) month period, but in no event later than the date of expiration of this option as provided above in this Section 2. Such exercise otherwise shall be subject to the terms and conditions of the Plan and this Stock Option Agreement.