Common use of Termination of Employment; Death Clause in Contracts

Termination of Employment; Death. (a) In the event that the Option Holder shall cease to be an employee of the Corporation or any of its subsidiaries for any reason whatsoever, the Option may be exercised by the Option Holder (to the extent that the Option Holder shall have been entitled to do so as of the date of his termination of employment with the Corporation or any of its subsidiaries) at any time within 365 days after such termination but in any event not later than the date of expiration of the Option term. So long as the Option Holder shall continue to be an employee of the Corporation or any of its subsidiaries, the Option shall not be affected by any change of duties or position. Nothing in this Option Agreement shall confer upon the Option Holder any right to continue as an employee of the Corporation or any of its subsidiaries.

Termination of Employment; Death. (a) In the event that the Option Holder shall cease to be an employee of the Corporation or any of its subsidiaries for any reason whatsoeverwhatsoever after a Vesting Date, the Option may be exercised by the Option Holder (to the extent that the Option Holder shall have been entitled to do so as of the date of his termination of employment with the Corporation or any of its subsidiaries) at any time within 365 days after such termination but in any event not later than the date of expiration of the Option term. So long as the Option Holder shall continue to be an employee of the Corporation or any of its subsidiaries, the Option shall not be affected by any change of duties or position. Nothing in this Option Agreement shall confer upon the Option Holder any right to continue as an employee of the Corporation or any of its subsidiaries.