Common use of Post-Termination Exercise Period Clause in Contracts

Post-Termination Exercise Period. Notwithstanding anything else contained in Section 14 of the Company's 1987 Stock Option Plan to the contrary, in the event that Executive is entitled to receive the severance benefits described above pursuant to the terms of this Agreement, all of his outstanding Options and SARs awarded under such 1997 Stock Option Plan shall automatically be and become fully exercisable on the Date of Termination without further action on anyone's part and the Executive shall have the right to exercise any such Option or SAR until the earlier to occur of the expiration of the term of such Option or SAR and the fifth anniversary of the Date of Termination.

Post-Termination Exercise Period. Notwithstanding anything else contained in Section 14 of the Company's 1987 Stock Option Plan to the contrary, in the event that Executive is entitled to receive the severance benefits described above pursuant to the terms of this Agreement, all of his outstanding Options and SARs awarded under such 1997 1987 Stock Option Plan shall automatically be and become fully exercisable on the Date of Termination without further action on anyone's part and the Executive shall have the right to exercise any such Option or SAR until the earlier to occur of the expiration of the term of such Option or SAR and the fifth anniversary of the Date of Termination.on

Post-Termination Exercise Period. Notwithstanding anything else contained in Section 14 of the Company's 1987 Stock Option Plan to the contrary, in the event that Executive is entitled to receive the severance benefits described above pursuant to the terms of this Agreement, all of his outstanding Options and SARs awarded under such 1997 1987 Stock Option Plan shall automatically be and become fully exercisable on the Date late of Termination without further action on anyone's part and the Executive shall have the right to exercise any such Option or SAR until the earlier to occur of the expiration of the term of such Option or SAR and the fifth anniversary of the Date of Termination.

Post-Termination Exercise Period. Notwithstanding anything else contained in Section 14 of the Company's 1987 Stock Option Plan to the contrary, in the event that Executive is entitled to receive the severance benefits described above pursuant to the terms of this Agreement, all of his outstanding Options and SARs awarded under such 1997 1987 Stock Option Plan shall automatically be and become fully exercisable on the Date of Termination without further action on anyone's part and the Executive shall have the right to exercise any such Option or SAR until the earlier to occur of the expiration of the term of such Option or SAR and the fifth anniversary of the Date of Termination.