Common use of Termination of Service Relationship Clause in Contracts

Termination of Service Relationship. If the Optionee's Service Relationship with the Company or a Related Corporation terminates for any reason other than death or disability (as defined in paragraph 10 of the Plan), and unless otherwise determined by the Committee, any Stock Option held by the Optionee may be exercised, to the extent exercisable on the date of termination, for a period of fifteen (15) days from the date of termination or until the Expiration Date, if earlier. Any Stock Option that is not exercisable at such time shall terminate immediately and be of no further force or effect.

Termination of Service Relationship. If the Optionee's Service Relationship with the Company or a Related Corporation terminates for any reason other than death or disability (as defined in paragraph 10 11 of the Plan), and unless otherwise determined by the Committee, any Stock Option held by the Optionee may be exercised, to the extent exercisable on the date of termination, for a period of fifteen (15) days from the date of termination or until the Expiration Date, if earlier. Any Stock Option that is not exercisable at such time shall terminate immediately and be of no further force or effect.