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".
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.