Common use of Right to Exercise Vesting Clause in Contracts

Right to Exercise Vesting. a. Subject to the expiration or earlier termination of the Term of the Option and to Section 2(b) hereof, Optionee shall have the right to exercise the Option in accordance with the following three (3) year vesting schedule: (i) Optionee shall have no right to exercise any part of the Option at any time prior to the expiration of one (1) year from the Grant Date; (ii) The Option shall become exercisable with respect to Thirty Three and Three Hundred Thirty Three Thousandths Percent (33.333%) of the Option Shares upon the expiration of one (1) year from the Grant Date; and (iii) The Option thereafter shall become exercisable with respect to an additional Two Point Seven Hundred Seventy Seven Thousandths Percent (2.777%) of the Option Shares on the last day of each month that commences following the Grant Date. b. In addition to any Option Shares that become exercisable under Section 2(a) hereof, (i) If the employment of Optionee under the Employment Agreement dated as of November 24, 1999 between Optionee and the Company ("Employment Agreement") is terminated by the Company without "cause" (as defined in the Employment Agreement) on or before the expiration of six (6) months from the Grant Date, then upon the effective date of such termination the Option shall become exercisable with respect to Sixteen and Six Hundred Sixty Six Thousandths Percent (16.666%)

Right to Exercise Vesting. a. Subject to the expiration or earlier termination of the Term of the Option and to Section 2(b) hereof, Optionee shall have the right to exercise the Option in accordance with the following three (3) year vesting schedule: (i) Optionee shall have no right to exercise any part of the Option at any time prior to the expiration of one (1) year from the Grant Date; (ii) The Option shall become exercisable with respect to Thirty Three and Three Hundred Thirty Three Thousandths Percent (33.333%) of the Option Shares upon the expiration of one (1) year from the Grant Date; and (iii) The Option thereafter shall become exercisable with respect to an additional Two Point Seven Hundred Seventy Seven Thousandths Percent (2.777%) of the Option Shares on the last day of each month that commences following the Grant Date. b. In addition Exercisable installments may be exercised by Optionee in whole or in part and to the extent not exercised shall accumulate and be exercisable as provided. The Company shall not be required to issue fractional shares at any Option Shares that become exercisable under Section 2(a) hereof, (i) If the employment of Optionee under the Employment Agreement dated as of November 24, 1999 between Optionee time; and the Company ("Employment Agreement") is terminated by the Company without "cause" (as defined any fractional shares remaining in the Employment Agreement) on or before Option following any exercise thereof shall be rounded down to the expiration next nearest whole number of six (6) months from the Grant Date, then upon the effective date of such termination the Option shall become exercisable with respect to Sixteen and Six Hundred Sixty Six Thousandths Percent (16.666%)Shares.

Right to Exercise Vesting. a. Subject to the expiration or earlier termination of the Term of the Option hereunder and to Section 2(b) hereof, Optionee shall have the right to exercise the Option in accordance with the following three (3) year vesting schedule:schedule ("Vesting Period"): (i) Optionee shall have no right to exercise any part of the Option at any time prior to the expiration of one (1) year from the Grant Date; (ii) The Option shall become exercisable with respect to Thirty Three and Three Hundred Thirty Three Thousandths Percent (33.333%) of the Option Shares upon the expiration of one (1) year from the Grant Date; and (iii) The Option thereafter shall become exercisable with respect to an additional Two Point Seven Hundred Seventy Seven Thousandths Percent (2.777%) of the Option Shares on the last day of each month that commences following the Grant Datethereafter. b. In addition Exercisable installments may be exercised by Optionee in whole or in part and to the extent not exercised shall accumulate and be exercisable as provided. The Company shall not be required to issue fractional shares at any Option Shares that become exercisable under Section 2(a) hereof, (i) If the employment of Optionee under the Employment Agreement dated as of November 24, 1999 between Optionee time; and the Company ("Employment Agreement") is terminated by the Company without "cause" (as defined any fractional shares remaining in the Employment Agreement) on or before Option following any exercise thereof shall be rounded down to the expiration next nearest whole number of six (6) months from the Grant Date, then upon the effective date of such termination the Option shall become exercisable with respect to Sixteen and Six Hundred Sixty Six Thousandths Percent (16.666%)Shares.