Common use of Option Period; Vesting Clause in Contracts

Option Period; Vesting. (a) You can exercise the Option only during the Option Period. The Option becomes exercisable, or “vests,” on the first day of the Option Period and expires on the last day of the Option Period. (b) The Option Period for [ ] of the Shares starts on [ ]; for another [ ] of the Shares on [ ]; and for [ ] of the Shares on [ ]. This is the vesting schedule for the Option. (c) The Option Period for all the Shares ends, and the Option will expire, the earlier of (1) 5:00 p.m. Philadelphia time on the Expiration Date or (2) upon your Termination of Employment as described under Early Expiration in paragraph 4.

Option Period; Vesting. (a) You can exercise the Option only during the Option Period. The Option becomes exercisable, or “vests,” on the first day of the Option Period and expires on the last day of the Option Period. (b) The Option Period for [ ] one-third of the Shares starts on [ ]; for another [ ] third of the Shares on [ ]; and for [ ] the final third of the Shares on [ ]. This is the vesting schedule for the Option. (c) The Option Period for all the Shares ends, and the Option will expire, the earlier of (1) 5:00 p.m. Philadelphia time on the Expiration Date or (2) upon your Termination of Employment as described under Early Expiration in paragraph 4.

Option Period; Vesting. (a) You can exercise the Option only during the Option Period. The Option becomes exercisable, or “vests,” on the first day of the Option Period and expires on the last day of the Option Period. (b) The Option Period for [ ] one-third of the Shares starts on [ ]March 1, 2012; for another [ ] third of the Shares on [ ]March 1, 2013; and for [ ] the final third of the Shares on [ ]March 1, 2014. This is the vesting schedule for the Option. (c) The Option Period for all the Shares ends, and the Option will expire, the earlier of (1) 5:00 p.m. Philadelphia time on the Expiration Date March 1, 2021 or (2) upon your Termination of Employment as described under Early Expiration in paragraph 4.

Option Period; Vesting. (a) You can exercise the Option only during the Option Period. The Option becomes exercisable, or “vests,” on the first day of the Option Period and expires on the last day of the Option Period. (b) The Option Period for [ ] the Shares (or for a portion of the Shares Shares) starts on [ ]; for another [ ] of the Shares on [ ]; and for [ ] of applicable Vesting Date as shown in the Shares on [ ]Appendix: Vesting Schedule. This is The Appendix contains the vesting schedule Vesting Schedule for the Option. (c) The Option Period for all the Shares ends, and the Option will expire, the earlier of (1) 5:00 p.m. Philadelphia time on the Expiration Date or (2) upon your Termination of Employment as described under Early Expiration in paragraph 4.