Employees can exercise vested options post termination. The length of time employees can exercise their options is determined in the employee equity plan and referenced as "post termination exercise".
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Accepting payment for exercises:
​Employees can login into their Pulley account and request to exercise options by clicking "Request to Exercise". Payment can be submitted directly via ACH.

Unexercised options post termination
​Unexercised options after the last date to exercise return to the employee equity plan.