Common use of Extension of Option Exercise Period Clause in Contracts

Extension of Option Exercise Period. If this Section 7 applies, then all options to purchase shares of the Company’s stock held by the Employee at the time of the termination of his Employment shall remain exercisable until the earlier of: (i) The later of (A) the date 18 months after the termination of the Employee’s Employment or (B) with respect to any increment of options that becomes exercisable later than nine months after the termination of the Employee’s Employment, the date three months after such increment becomes exercisable; or (ii) The date the options would have expired if the Employee’s Employment had not terminated.

Extension of Option Exercise Period. If this Section 7 applies, then all options to purchase shares of the Company’s stock held by the Employee at the time of the termination of his Employment shall remain exercisable until the earlier of: (i) The later of (A) the date 18 12 months after the termination of the Employee’s Employment or (B) with respect to any increment of options that becomes exercisable later than nine months after the termination of the Employee’s Employment, the date three months after such increment becomes exercisable; or (ii) The date the options would have expired if the Employee’s Employment had not terminated.