Common use of Vesting and Exercisability of Option Clause in Contracts

Vesting and Exercisability of Option. Unless otherwise provided in this Agreement or the Plan, the Option shall entitle the Grantee to purchase, in whole at any time or in part from time to time, thirty-three and one-third percent (33-1/3%) of the total number of Shares covered by the Option after the expiration of one (1) year from the Grant Date, an additional thirty-three and one-third percent (33-1/3%) of the total number of Shares covered by the Option after the second anniversary of the Grant Date, and the remainder of the number of Shares subject to the Option after the third anniversary of the Grant Date, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised as herein provided, during the remaining period of the Exercise Term. Any fractional number of Shares resulting from the application of the percentages set forth in this Section 4 shall be rounded to the next higher whole number of Shares.

Vesting and Exercisability of Option. Unless otherwise provided in this Agreement or the Plan, the Option shall entitle the Grantee to purchase, in whole at any time or in part from time to time, thirty-three and one-third percent (33-1/3%) of the total number of Shares shares of Stock covered by the Option after the expiration of one (1) year from the Grant Date, an additional thirty-three and one-third percent (33-1/3%) of the total number of Shares shares of Stock covered by the Option after the second anniversary of the Grant Date, and the remainder of the number of Shares shares of Stock subject to the Option after the third anniversary of the Grant Date, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised as herein provided, during the remaining period of the Exercise Term. Any fractional number of Shares shares of Stock resulting from the application of the percentages set forth in this Section 4 shall be rounded to the next higher whole number of Sharesshares of Stock.

Vesting and Exercisability of Option. Unless otherwise provided in this Agreement or the Plan, the Option shall entitle the Grantee to purchase, in whole at any time or in part from time to time, thirty-three and one-third percent (33-1/3%) of the total number of Shares Units covered by the Option after the expiration of one (1) year from the Grant Date, an additional thirty-three and one-third percent (33-1/3%) of the total number of Shares Units covered by the Option after the second anniversary of the Grant Date, and the remainder of the number of Shares Units subject to the Option after the third anniversary of the Grant Date, and provided that the Grantee continues to serve as a director of the General Partner on each applicable vesting date. Each such right of purchase shall be cumulative and shall continue, unless sooner exercised as herein provided, during the remaining period of the Exercise Term. Any fractional number of Shares Units resulting from the application of the percentages set forth in this Section 4 shall be rounded to the next higher whole number of SharesUnits.