Common use of Time Option Clause in Contracts

Time Option. (i) So long as the Optionee continues to be employed by the Company or its Subsidiaries, the Time Option shall become exercisable pursuant to the following schedule: After the first anniversary of the Initial Vesting Date 20 % After the second anniversary of the Initial Vesting Date 40 % After the third anniversary of the Initial Vesting Date 60 % After the fourth anniversary of the Initial Vesting Date 80 % After the fifth anniversary of the Initial Vesting Date 100 % (ii) That portion of the Option intended to be an "incentive stock option" within the meaning of Section 422 of the Code ("ISO") and that portion of the Option that is not intended to be an ISO ("NQSO") shall each become exercisable ratably in accordance with the above schedule. For example, following the first anniversary of the Initial Vesting Date, 20% of the ISOs and 20% of the NQSOs shall be exercisable, while 40% of the ISOs and 40% of the NQSOs shall be exercisable following the second anniversary of the Initial Vesting Date, and so on. (iii) Notwithstanding the foregoing, the Time Option shall become immediately exercisable as to 100% of the shares of Common Stock subject to such Time Option immediately prior to a Change of Control (but only to the extent such Time Option has not otherwise terminated or become exercisable).

Time Option. (i) So long as the Optionee continues to be employed by the Company or its Subsidiaries, the Time Option shall become exercisable pursuant to the following schedule: After the first anniversary of the Initial Vesting Date 20 % After the second anniversary of the Initial Vesting Date 40 % After the third anniversary of the Initial Vesting Date 60 % After the fourth anniversary of the Initial Vesting Date 80 % After the fifth anniversary of the Initial Vesting Date 100 % (ii) That portion of the Option intended to be an "“incentive stock option" ” within the meaning of Section 422 of the Code ("“ISO"”) and that portion of the Option that is not intended to be an ISO ("“NQSO"”) shall each become exercisable ratably in accordance with the above schedule. For example, following the first anniversary of the Initial Vesting Date, 20% of the ISOs and 20% of the NQSOs shall be exercisable, while 40% of the ISOs and 40% of the NQSOs shall be exercisable following the second anniversary of the Initial Vesting Date, and so on. (iii) Notwithstanding the foregoing, the Time Option shall become immediately exercisable as to 100% of the shares of Common Stock subject to such Time Option immediately prior to a Change of Control (but only to the extent such Time Option has not otherwise terminated or become exercisable).

Time Option. (i) So long as the Optionee continues to be employed by the Company or its Subsidiaries, the Time Option shall become exercisable pursuant to the following schedule: After the first anniversary of the Initial Vesting Date 20 20% After the second anniversary of the Initial Vesting Date 40 40% After the third anniversary of the Initial Vesting Date 60 60% After the fourth anniversary of the Initial Vesting Date 80 80% After the fifth anniversary of the Initial Vesting Date 100 100% (ii) That portion of the Option intended to be an "“incentive stock option" ” within the meaning of Section 422 of the Code ("“ISO"”) and that portion of the Option that is not intended to be an ISO ("“NQSO"”) shall each become exercisable ratably in accordance with the above schedule. For example, following the first anniversary of the Initial Vesting Date, 20% of the ISOs and 20% of the NQSOs shall be exercisable, while 40% of the ISOs and 40% of the NQSOs shall be exercisable following the second anniversary of the Initial Vesting Date, and so on. (iii) Notwithstanding the foregoing, the Time Option shall become immediately exercisable as to 100% of the shares of Common Stock subject to such Time Option immediately prior to a Change of Control (but only to the extent such Time Option has not otherwise terminated or become exercisable).