Common use of Termination of Status as an Employee Clause in Contracts

Termination of Status as an Employee. In the event of termination of Optionee’s employment or relationship with the Company, Optionee may, but only within three months after the date of such termination (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above), exercise this Option to the extent that he was entitled to exercise it at the date of termination. To the extent that he was not entitled to exercise this Option at the date of termination, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate. In the event Optionee terminates employment voluntarily or is terminated for “cause” (as defined in Section 8.14 of the Plan), then any unvested option shall terminate immediately. If the employment of Optionee is terminated by the Company or a Related Company for “cause” (as defined in Section 8.14 of the Plan), then the Committee shall have the right to cancel any options granted to Optionee under the Plan.

Termination of Status as an Employee. In the event of termination of Optionee’s employment or relationship with the Company, Optionee may, but only within three months after the date of such termination (but in no event later than the date of expiration of the term of this Option as set forth in Section 3 above), exercise this Option to the extent that he was entitled to exercise it at the date of termination. To the extent that he was not entitled to exercise this Option at the date of termination, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate. In the event Optionee terminates employment voluntarily or is terminated for “cause” (as defined in Section 8.14 of the Plan), then any unvested option shall terminate immediately. If the employment of Optionee is terminated by the Company or a Related Company for “cause” (as defined in Section 8.14 of the Plan), then the Committee shall have the right to cancel any options granted to Optionee under the PlanOption.