This excerpt taken from the FZN DEF 14A filed Oct 9, 2007.
Effect of Participants Termination of Employment or other Service, Death or Disability. The Board has the power to determine the period of time during which a participant (or, if applicable, the estate or representative) may exercise a stock option under the 2007 Plan following the termination of the participants employment or other relationship with the Company, including upon the death or disability (within the meaning of Section 22(e)(3) of the Code) of the participant. Such periods must be set forth in the agreement evidencing the option. The current form of option agreement under the 2007 Plan provides in general that a participant shall have three (3) months to exercise the vested portion of their stock option following termination of service with the Company, after which time the option shall expire and is no longer exercisable. The unvested portion of the stock option cannot be exercised and is forfeited on the date of termination. However, under the form of option agreement, if a participants employment, or other service, on behalf of the Company or an affiliate is terminated because of his or her death (which occurs while the participant is either actively providing such services or within three (3) months after the participants termination for a reason other than cause), then the exercise period is extended to eighteen (18) months after the date of death. If the participant is terminated because of a disability, the exercise period is extended to twelve (12) months after the date of termination. In no event, however, may a stock option be exercised after the expiration date of the option. In the case of a termination for Cause under the form of stock option agreement (and as defined under the 2007 Plan), the option cannot be exercised and is forfeited both as to the vested and unvested shares subject to the option. The Board in its discretion may in the future change the form of option agreement to provide a shorter or longer exercise period upon termination of service than the periods described above.
For an option to retain its status as an ISO, the participant must have been in the continuous employment of the Company or an affiliate since the date of grant of the ISO, and the ISO must be exercised within three (3) months after the date the participant ceases to be an employee of the Company or an affiliate. An option shall be considered an NSO if these requirements are not met.