Exercise Following Termination of Employment. If the Optionee ceases to be a member of the Board, all outstanding Options shall be exercisable by the Optionee (or his personal representative or beneficiary) for the remainder of their original term, and shall thereafter terminate and have no further force or effect.
Appears in 2 contracts
Sources: Stock Option Agreement (SBS Promotions Inc), Stock Option Agreement (SBS Promotions Inc)