Common use of Period of Options Clause in Contracts

Period of Options. Each Option shall become exercisable with respect to the Shares covered by that Option on the Milestone Date, and, subject to the terms of this Agreement and the terms of the Plan, the Option will continue to be exercisable until the earliest of: (a) The [fifth/third] anniversary of the date the Option first becomes exercisable under this Agreement; (b) One (1) month following termination of the Optionee's employment with or service to the Company (as the case may be) for any reason other than death or permanent and total disability within the meaning of Section 22(e)(3) of the Code (or any successor provision); (c) One (1) year following termination of the Optionee's employment with or service to the Company by reason of the Optionee's death or by reason of the Optionee becoming permanently and totally disabled within the meaning of Section 22(e)(3) of the Code (or any successor provision). In the event of the death of the Optionee, the executors, administrators, legatees or distributees of the estate of the Optionee, and in the event of the Optionee's permanent and total disability (as defined above), the guardian or legal representatives of the Optionee, shall have the right to exercise the Options in accordance with paragraph 6 hereof. In the event the Options are exercised by the executors, administrators, legatees or distributees of the estate of the Optionee, or the guardian or legal representative of the Optionee, the Company shall be under no obligation to issue shares of Stock hereunder unless and until the Company is satisfied that the person (or persons) exercising the Options is the duly appointed executor or administrator or the proper legatee or distributed of the estate of the Optionee, or duly appointed guardian or legal representative of the Optionee, as the case may be.

Period of Options. Each Option The Options shall become exercisable with respect to the Shares covered by that Option expire on the Milestone Date, and, subject earliest to the terms of this Agreement and the terms of the Plan, the Option will continue to be exercisable until the earliest occur of: (a) The [fifth/third] fifth anniversary of the date the each Option first becomes exercisable under this Agreement; (b) One If the Optionee is an employee of the Company, one (1) month following termination of the Optionee's employment with or service to the Company (as the case may be) for any reason other than death or permanent and total disability within the meaning of Section 22(e)(3) of the Code (or any successor provision); (c) One If the Optionee is an employee of the Company, one (1) year following termination of the Optionee's employment with or service to the Company by reason of the Optionee's death or by reason of the Optionee becoming permanently and totally disabled within the meaning of Section 22(e)(3) of the Code (or any successor provision). In the event of the death of the Optionee, the executors, administrators, legatees or distributees of the estate of the Optionee, and in the event of the Optionee's permanent and total disability (as defined above), the guardian or legal representatives of the Optionee, shall have the right to exercise the Options in accordance with paragraph 6 hereof. In the event the Options are exercised by the executors, administrators, legatees or distributees of the estate of the Optionee, or the guardian or legal representative of the Optionee, the Company shall be under no obligation to issue shares of Stock hereunder unless and until the Company is satisfied that the person (or persons) exercising the Options is the duly appointed executor or administrator or the proper legatee or distributed of the estate of the Optionee, or duly appointed guardian or legal representative of the Optionee, as the case may be.

Period of Options. Each Option The Options shall become exercisable with respect to the Shares covered by that Option expire on the Milestone Date, and, subject earliest to the terms of this Agreement and the terms of the Plan, the Option will continue to be exercisable until the earliest occur of: (a) The [fifth/third] fifth anniversary of the date the each Option first becomes exercisable under this Agreement; (b) One Except in the case of a termination without Cause after a Change in Control as set forth in Section 5(b), one (1) month following termination of the Optionee's ’s employment with or service to the Company (as the case may be) for any reason other than death or permanent and total disability within the meaning of Section 22(e)(3) of the Code (or any successor provision); (c) One (1) year following termination of the Optionee's ’s employment with or service to the Company by reason of the Optionee's ’s death or by reason of the Optionee becoming permanently and totally disabled within the meaning of Section 22(e)(3) of the Code (or any successor provision). In the event of the death of the Optionee, the executors, administrators, legatees or distributees of the estate of the Optionee, and in the event of the Optionee's ’s permanent and total disability (as defined above), the guardian or legal representatives of the Optionee, shall have the right to exercise the Options in accordance with paragraph 6 hereof. In the event the Options are exercised by the executors, administrators, legatees or distributees of the estate of the Optionee, or the guardian or legal representative of the Optionee, the Company shall be under no obligation to issue shares of Stock hereunder unless and until the Company is satisfied that the person (or persons) exercising the Options is the duly appointed executor or administrator or the proper legatee or distributed of the estate of the Optionee, or duly appointed guardian or legal representative of the Optionee, as the case may be.

Period of Options. Each Option shall become exercisable with respect to the Shares covered by that Option on when the Milestone Dategrant of the Option becomes effective, and, subject to the terms of this Agreement and the terms of the Plan, the Option will continue to be exercisable until the earliest of: (a) The [fifth/third] fifth anniversary of the date the Option first becomes exercisable under this Agreement; (b) One (1) month following termination of the Optionee's employment with or service to the Company (as the case may be) for any reason other than death or permanent and total disability within the meaning of Section 22(e)(3) of the Code (or any successor provision); (c) One (1) year following termination of the Optionee's employment with or service to the Company by reason of the Optionee's death or by reason of the Optionee becoming permanently and totally disabled within the meaning of Section 22(e)(3) of the Code (or any successor provision). In the event of the death of the Optionee, the executors, administrators, legatees or distributees of the estate of the Optionee, and in the event of the Optionee's permanent and total disability (as defined above), the guardian or legal representatives of the Optionee, shall have the right to exercise the Options in accordance with paragraph 6 hereof. In the event the Options are exercised by the executors, administrators, legatees or distributees of the estate of the Optionee, or the guardian or legal representative of the Optionee, the Company shall be under no obligation to issue shares of Stock hereunder unless and until the Company is satisfied that the person (or persons) exercising the Options is the duly appointed executor or administrator or the proper legatee or distributed of the estate of the Optionee, or duly appointed guardian or legal representative of the Optionee, as the case may be.