Common use of Time-Based Options Clause in Contracts

Time-Based Options. The Committee may provide in the Option Grant Agreement that part or all of an Option granted under the XXX Share Plan is a Time-Based Option. For the purposes of this plan, a “Time-Based Option” shall mean an Option which is subject to time-based vesting conditions as set forth in the Option Grant Agreement. Unless the Committee provides otherwise, the vesting of the Time-Based Option may be suspended during any leave of absence.

Time-Based Options. The Committee may provide in the Option Grant Agreement that part or all of an Option granted under the XXX Share Equity Incentive Plan is a Time-Based Option. For the purposes of this plan, a “Time-Based Option” shall mean an Option which is subject to time-based vesting conditions as set forth in the Option Grant Agreement. Unless the Committee provides otherwise, the vesting of the Time-Based Option may be suspended during any leave of absence.