Option Exercise Date. Each Player’s option exercise date shall be no later than the later of (i) December 1st and (ii) the day after the Player’s Team is eliminated from the playoffs or wins MLS Cup or plays US-Mexico Champions Cup (if applicable), but in no event later than December 16. If the Option Exercise Date is later than December 1st and the Player’s option is not exercised, then the League shall continue to pay the Player and provide health insurance through the date that is thirty-seven (37) days after the Option Exercise Date (e.g., if Option Exercise Date is December 8, 2015, the Player with the non-exercised option will be paid and health insurance will be extended through January 14, 2016).
Appears in 3 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement