Common use of Extension if Exercise Prevented by Law Clause in Contracts

Extension if Exercise Prevented by Law. Notwithstanding the foregoing, if the exercise of the Option within the applicable time period set forth in Section 4(a) is prevented by the provisions of Section 11, the Option shall remain exercisable until the later of (i) six (6) months after the date such exercise first would no longer be prevented by such provisions, or (ii) the end of the applicable time period under Section 4(a), but in any event no later than the Expiration Date. In addition, if, during the 60-day period prior to the Expiration Date, the Company does not have on file an effective registration statement under Form S-8, then the Grantee shall have the ability to “net exercise” the Option as described in Section 6(b)(i)(b)(ii) without regard to any Committee discretion or limitations provided in Section 6(b).