Post-Termination Exercise. If the Option is vested prior to, or vests in connection with, the termination of the Optionee’s service as an officer and director, other than as described in Section 7 or Section 8 of this Option Agreement, the Optionee may, following termination of his service as an officer and director (the “Termination Date”), exercise the Option during the Post-Termination Exercise Period (and in no event later than the Expiration Date) set forth on the first page of this Option Agreement. In no event may the Option be exercised later than the Expiration Date set forth on the first page of this Option Agreement. Except as provided in Sections 7 and 8 of this Option Agreement, to the extent that the Optionee is not entitled to exercise the Option on the Termination Date, or if the Optionee does not exercise the Option within the Post-Termination Exercise Period, the Option shall terminate.
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Sources: Employment Agreement (Koil Energy Solutions, Inc.), Employment Agreement (Koil Energy Solutions, Inc.)
Post-Termination Exercise. If the Option is vested prior to, or vests in connection with, the termination of the Optionee’s service as an officer and a director, other than as described in Section 7 or Section 8 of this Option Agreement, the Optionee may, following termination of his service as an officer and a director (the “Termination Date”), exercise the Option during the Post-Termination Exercise Period (and in no event later than the Expiration Date) set forth on the first page of this Option Agreement. In no event may the Option be exercised later than the Expiration Date set forth on the first page of this Option Agreement. Except as provided in Sections 7 and 8 of this Option Agreement, to the extent that the Optionee is not entitled to exercise the Option on the Termination Date, or if the Optionee does not exercise the Option within the Post-Termination Exercise Period, the Option shall terminate.
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