Common use of Time of Exercise of Option Clause in Contracts

Time of Exercise of Option. The Optionee may exercise the Option (subject to the limitations on exercise set forth in this Agreement and in the Plan), in installments as follows: (i) Subject to Section 4.2, no Option may be exercised during the first year from the Original Date of Grant; (ii) Subject to Section 4.2, after one year from the Original Date of Grant, the Option shall be exercisable in respect of 33 and 1/3 percent of the number of shares specified in Section 1 above; and (iii) Subject to Section 4.2, after the expiration of each of the second, and third years from the Original Date of Grant, the Option shall be exercisable in respect of an additional 33 and 1/3 percent of such shares specified in Section 1 above. The foregoing installments, to the extent not exercised, shall accumulate and be exercisable, in whole or in part, at any time and from time to time, after becoming exercisable and prior to the termination of the Option; provided, that no single exercise of the Option shall be for less than 100 shares, unless at the time of the exercise, the maximum number of shares available for purchase under this Option is less than 100 shares. In no event shall the Option be exercised for a fractional share.

Time of Exercise of Option. The Optionee may exercise the Option (subject to the limitations on exercise set forth in this Agreement and in the Plan), in installments as follows: (i) Subject to Section 4.2, no No Option may be exercised during the first year from the Original Date date of Grantgrant of the Option, as set forth in Section 1 above; (ii) Subject to Section 4.2, after After one year from the Original Date date of Grantgrant of the Option, the Option shall be exercisable in respect of 33 and 1/3 25 percent of the number of shares specified in Section 1 above; and (iii) Subject to Section 4.2, after After the expiration of each of the second, third, and third fourth years from the Original Date date of Grantgrant of the Option, the Option shall be exercisable in respect of an additional 33 and 1/3 25 percent of such shares specified in Section 1 above. The foregoing installments, to the extent not exercised, shall accumulate and be exercisable, in whole or in part, at any time and from time to time, after becoming exercisable and prior to the termination of the Option; provided, that no single exercise of the Option shall be for less than 100 shares, unless the number of shares purchased is the total number at the time of the exercise, the maximum number of shares available for purchase under this Option is less than 100 shares. In no event shall the Option be exercised for a fractional shareOption.

Time of Exercise of Option. The Optionee may exercise the Option (subject to the limitations on exercise set forth in this Agreement and in the Plan), in installments as follows: (i) Subject to Section 4.2, no Option may be exercised during : on the first year from anniversary of the Original Date of Grant; (ii) Subject to Grant of the Option, as set forth in Section 4.2, after one year from the Original Date of Grant1 above, the Option shall be exercisable in respect of 33 and 1/3 twenty percent (20%) of the number of shares Shares specified in Section 1 above; and (iii) Subject to Section 4.2, after the expiration of each of the second, and third years from the Original Date of Grant, the Option shall be exercisable in respect of an additional 33 twenty percent (20%) of the number of Shares specified in Section 1 above on each of the second, third, fourth and 1/3 percent fifth anniversaries of such shares specified the Date of Grant, as set forth in Section 1 above. The foregoing installments, to the extent not exercised, shall accumulate and be exercisable, in whole or in part, at any time and from time to time, after becoming exercisable and prior to the termination of the Option; provided, that no single exercise of the Option shall be for less than 100 sharesShares, unless the number of Shares purchased is the total number at the time of the exercise, the maximum number of shares available for purchase under this Option is less than 100 shares. In no event shall the Option be exercised for a fractional shareOption.