Common use of Post-Termination Exercise Clause in Contracts

Post-Termination Exercise. In the event of a Termination After Transfer of Control, the Option, to the extent unexercised by the Optionee on the date on which the Optionee's employment terminated, may be exercised by the Optionee within three (3) months (or six (6) months if the Optionee is subject to restrictions on transfer to comply with "Pooling-of-Interests" accounting rules) after the date on which the Optionee's employment terminated, but in any event no later than the expiration date set forth in the Option Agreement.