Common use of Exercisability of this Stock Option Clause in Contracts

Exercisability of this Stock Option. 4.1 This Stock Option shall become exercisable as to 25% of the Option Shares, on each of the first four anniversaries of the Vesting Date, provided the Optionee is then employed by or performing services for the Company and/or one of its Subsidiaries or Affiliates. 4.2 Unless earlier terminated in accordance with the terms and provisions of the Plan and/or this Agreement, this Stock Option shall expire and shall no longer be exercisable after the expiration of ten years from the Grant Date (the “Option Period”). 4.3 The Committee may, in its sole discretion, accelerate the exercisability of any portion of the unexercisable portion of this Stock Option at any time, including, but not limited to, upon a Participant’s death or Disability (as defined in Sections 4.4 and 4.5 below). In no event shall this Stock Option be exercisable for a fractional Share. 4.4 For purposes of this Agreement, “Disability,” if the Participant is a party to an employment agreement, shall have the same meaning as in such employment agreement, otherwise, “Disability” means disability as determined by the Committee in accordance with the standards and procedures similar to those under the Company’s or the relevant Affiliate’s long-term disability plan, if any. Subject to the first sentence of this Section 4.4, at any time that the Company or the relevant Affiliate does not maintain a long-term disability plan, “Disability” shall mean any physical or mental disability which is determined to be total and permanent by a doctor selected in good faith by the Company or the relevant Affiliate.

Exercisability of this Stock Option. 4.1 This Stock Option shall become exercisable as to 25% of the Option Shares, on each of the first four anniversaries of the Vesting Date, provided the Optionee is then employed by or performing services for the Company and/or one of its Subsidiaries or Affiliates. 4.2 Unless earlier terminated in accordance with the terms and provisions of the Plan and/or this Agreement, this Stock Option shall expire and shall no longer be exercisable after the expiration of ten seven (7) years from the Grant Date (the “Option Period”). 4.3 The Committee may, in its sole discretion, accelerate the exercisability of any portion of the unexercisable portion of this Stock Option at any time, including, but not limited to, upon a Participant’s death or Disability (as defined in Sections 4.4 and 4.5 below). In no event shall this Stock Option be exercisable for a fractional Share. 4.4 For purposes of this Agreement, “Disability,” if the Participant is a party to an employment agreement, shall have the same meaning as in such employment agreement, otherwise, “Disability” means disability as determined by the Committee in accordance with the standards and procedures similar to those under the Company’s or the relevant Affiliate’s long-term disability plan, if any. Subject to the first sentence of this Section 4.4, at any time that the Company or the relevant Affiliate does not maintain a long-term disability plan, “Disability” shall mean any physical or mental disability which is determined to be total and permanent by a doctor selected in good faith by the Company or the relevant Affiliate.

Exercisability of this Stock Option. 4.1 This Stock Option shall become exercisable as to 25% of the Option Shares, on each of the first four anniversaries of the Vesting Date, provided the Optionee is then employed by or performing services for the Company and/or one of its Subsidiaries or Affiliates. 4.2 Unless earlier terminated in accordance with the terms and provisions of the Plan and/or this Agreement, this Stock Option shall expire and shall no longer be exercisable after the expiration of ten years from the Grant Date (the “Option Period”). 4.3 The Committee may, in its sole discretion, accelerate the exercisability of any portion of the unexercisable portion of this Stock Option at any time, including, but not limited to, upon a Participant’s death or Disability (as defined in Sections 4.4 and 4.5 below). In no event shall this Stock Option be exercisable for a fractional Share. 4.4 For purposes of this Agreement, “Disability,” if the Participant is a party to an employment agreement, shall have the same meaning as in such employment agreement, otherwise, “Disability” means disability as determined by the Committee in accordance with the standards and procedures similar to those under the Company’s or the relevant Affiliate’s long-term disability plan, if any. Subject to the first sentence of this Section 4.4, at any time that the Company or the relevant Affiliate does not maintain a long-term disability plan, “Disability” shall mean any physical or mental disability which is determined to be total and permanent by a doctor selected in good faith by the Company or the relevant Affiliate.