Termination of Status as a Director. If the Optionee ceases to serve as a director, the Optionee may, but only within twelve (12) months after the date the Optionee ceases to be an outside director of the Company, exercise his Option to the extent the Optionee was entitled to exercise it at the date of such termination. To the extent that the Optionee was not entitled to exercise the Option at the date of such termination, or if the Optionee does not exercise such Option within the time specified herein, the Option shall terminate.
Termination of Status as a Director. In the event of the termination of the Outside Director's Continuous Status as a Director, he/she may, but only within thirty (30) days after the date of such termination (but in no event later than the date of expiration of the term of this Option as set forth in Section 11 below), exercise this Option to the extent that he was entitled to exercise it at the date of such termination. To the extent that he/she was not entitled to exercise this Option at the date of such termination, or if he/she does not exercise this Option within the time specified herein, the Option shall terminate.
Termination of Status as a Director. If the Optionee shall cease to be a director for any reason other than permanent or total disability (within the meaning of Section 22(e)(3) of the Code, as determined in the sole discretion of the Committee), retirement, death or a termination by the Company for Cause, the Option shall automatically terminate ninety (90) days following the date he/she ceases to be a director. Prior to such termination of the Option, the Optionee may exercise the Option to the extent that the Option was vested as of the termination date; provided, however, that no Option shall be exercised after the Expiration Date.
Termination of Status as a Director. If the Optionee ceases to be a Director of the Company, the Optionee shall have the shorter of one (1) year after such termination (“Termination Exercise Period”) or until the Expiration Date to exercise any portion of the Option that was vested on such termination date, but the unvested portion of the Option shall automatically terminate and be immediately forfeited, and neither the Optionee nor any of the Optionee’s heirs, personal representatives, successors or assigns shall have any rights with respect to such unvested portion of the Option.
Termination of Status as a Director. (a) If prior to the end of the Option Period, the Optionee shall terminate status as a director for any reason, all outstanding Options that have not vested and become exercisable as of the date of such termination shall immediately expire and all outstanding Options vested and exercisable at the time of such termination shall remain exercisable by the Optionee until their expiration as set forth below.
Termination of Status as a Director. In the event of termination of Optionee's status as a member of the Board of Directors of the Company for any reason other than his death or disability, Optionee may, but only within six months after the date of such termination (but in no event later than the date of expiration of the term of this Option as set forth in Section 11 below), exercise this Option to the extent that he was entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise this Option at the date of such termination, or if he does not exercise this Option within the time specified herein, the Option shall terminate.
Termination of Status as a Director. If the Optionee ceases to serve as a director of the Company for any reason other than death or disability, the Optionee shall have the right to exercise this Option at any time within the thirty (30) day period after the date of such termination, subject to extension at the discretion of the Board. If the Optionee ceases to serve as a director due to death or disability, this option may be exercised at any time within one (1) year after the date of death or termination of employment due to disability, in the case of death, by the Optionee’s estate or by a person who acquired the right to exercise this Option by bequest or inheritance, or, in the case of disability, by the Optionee, but in any case only to the extent the Optionee was entitled to exercise this Option at the date of such termination. To the extent the Option is not exercised within the time specified herein, this Option shall terminate. Notwithstanding the foregoing, this Option shall not be exercisable after the expiration of the term set forth in Section 2 hereof.
Termination of Status as a Director. If an Optionee ceases to serve as a Board Member, he or she may, but only within three (3) months after the date he or she ceases to be a Board Member of the Company, exercise his or her Option to the extent that he or she was entitled to exercise it at the date of such termination. Notwithstanding the foregoing, in no event may the Option be exercised after the Expiration Date. To the extent that Optionee is not entitled to exercise an Option at the date of such termination, or does not exercise such Option (which he or she is entitled to exercise) within the time specified herein, the Option shall terminate.
Termination of Status as a Director. In the event of termination of Optionee's continuous status as a Director, as such status may be determined and construed by the Company in its sole discretion ("Continuous Status"), for any reason other than death or disability or the completed term and performance under any consulting or employment agreement between the Optionee and the Company, Optionee may, but only within sixty (60) days after the date of such termination (but in no event later than the date of expiration of the term of the Option as set forth in Section 11 below), exercise the Option to the extent that Optionee was entitled to exercise it at the date of such termination. To the extent that Optionee was not entitled to exercise the Option at the date of such termination, or if Optionee does not exercise the Option within the time specified herein, the Option shall terminate.
Termination of Status as a Director. Prior to a Change in Control this Award Agreement shall be canceled and become automatically null and void immediately after you are no longer a member of the Board of Directors for any reason other than your death, but only to the extent you have not become vested, pursuant to the foregoing terms, on or at the time your membership on the Board of Directors ends.
