Rate of Exercise Clause Samples

Rate of Exercise. Except as otherwise provided in Section 3(b) herein and subject to termination of the option as provided in Section 5 herein, you may exercise the option granted herein only on or after the third anniversary of the Effective Date.

Rate of Exercise. Optionee shall not be vested with the right to exercise this Option to purchase any shares of Common Stock ("Shares") until ________________ after the Effective Date. Subject to the other restrictions in the Plan and this Agreement, Optionee shall acquire the vested right to exercise this Option to purchase: -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- --------------------------------------------------------------------------------

Rate of Exercise. In no event shall Optionor be required to issue any fractional Option Shares.

Rate of Exercise. Subject to termination of the option as provided in Section 5 herein, (i) you may exercise the option granted herein for up to one-third (1/3) of the shares for which an option has been granted herein, only on or after the third anniversary of the Effective Date and (ii) you may exercise the option to purchase up to an additional one-third (1/3) of the shares for which an option has been granted herein on or after each of the fourth and fifth anniversaries of the Effective Date.

Rate of Exercise. Except as otherwise provided in Section 3(b) herein and subject to termination of the option as provided in Section 5 herein, you may 2 or unenforceable, the remaining terms and provisions hereof shall continue in full force and effect. Any modification to this Agreement shall not be effective unless the same shall be in writing and such writing shall be signed by authorized representatives of both of the parties hereto. Please signify your acceptance of the option and your agreement to be bound by the terms hereof by promptly signing one of the two original letters provided to you herewith (i) in the event of Optionee's death while employed or retired or in the event Optionee's employment with the Company is terminated by reason of Optionee's Disability prior to the first anniversary of the Effective Date, the option granted herein shall be deemed to be fully vested and may then be exercisable prior to the termination of the option as specified in Section 5 below on or after August 12, 1998; or (ii) in the event of Optionee's Retirement prior to the first anniversary of the Effective Date, the option granted herein shall be deemed to be fully vested and may then be exercisable prior to the termination of the option as specified in Section 5 below on or after February 12, 1999.