Common use of Exercise Term Clause in Contracts

Exercise Term. Subject to Section 1.4 hereof, UARS’ may not be exercised more than five (5) years after the Date of Grant contained in Section 1.1.

Exercise Term. Subject to Section 1.4 hereof, UARS’ may not be exercised more than five (5) years after the Date of Grant contained in Section 1.1, provided that if the UARS have not fully vested at the end of such five (5) year period, the five (5) year period shall automatically be extended for an additional two (2) years.