Common use of Vesting and Option Period Clause in Contracts

Vesting and Option Period. Participant may exercise the Option in whole or in part. Except as otherwise provided herein, the Option shall become vested and exercisable in full on January 19, 2016. Prior to such time, no portion of the Option shall be exercisable unless its exercisability is accelerated as provided in this Option Agreement or the Plan. Except as provided otherwise in this Option Agreement or the Plan, the Option, to the extent not theretofore exercised, shall terminate on the expiration of seven (7) years from the date of grant of the Option; provided, however, that upon the termination Participant’s service relationship with the Company for any reason other than (a) the death or Disability of the Participant or (b) termination of the Participant’s service relationship with the Company as a result of a Change of Control, Participant may, until the earlier of (i) 90 days from the date of such termination or (ii) the expiration of the Option in accordance with this Section 3, exercise the Option, to the extent such Option had vested immediately prior to such termination and, thereafter, the Option shall, to the extent not previously exercised, automatically terminate and become null and void.

Vesting and Option Period. Participant may exercise the Option in whole or in part. Except as otherwise provided herein, the Option shall become vested and exercisable in full with respect to one third (1/3) of the covered Units on January 19, 2016[_______], with respect to an additional one third (1/3) of the covered Units on January 19, [_______] and with respect to the final one third (1/3) of the covered Units on January 19, [_______]. Prior to such time, no portion of the Option shall be exercisable unless its exercisability is accelerated as provided in this Option Agreement or the Plan. Except as provided otherwise in this Option Agreement or the Plan, the Option, to the extent not theretofore exercised, shall terminate on the expiration of seven ten (710) years from the date of grant of the Option; provided, however, that upon the termination Participant’s service relationship with the Company for any reason other than (a) the death or Disability (as defined herein) of the Participant or (b) termination of the Participant’s service relationship with the Company as a result of during the period beginning six months prior to and ending two years following a Change of Control, Participant may, until the earlier of (i) 90 days from the date of such termination or (ii) the expiration of the Option in accordance with this Section 3, exercise the Option, to the extent such Option had vested immediately prior to such termination Form of Executive Option Agreement (revised 2-2009) and, thereafter, the Option shall, to the extent not previously exercised, automatically terminate and become null and void.

Vesting and Option Period. Participant may exercise the Option in whole or in part. Except as otherwise provided herein, the Option shall become vested and exercisable in full on January 19, 2016. Prior to such time, no portion of the Option shall be exercisable unless its exercisability is accelerated as provided in this Option Agreement or the Plan. Except as provided otherwise in this Option Agreement or the Plan, the Option, to the extent not theretofore exercised, shall terminate on the expiration of seven (7) years from the date of grant of the Option; provided, however, that upon the termination Participant’s service relationship with the Company for any reason other than (a) the death or Disability disability of the Participant or (b) termination of the Participant’s service relationship with the Company as a result of a Change of Control, Participant may, until the earlier of (i) 90 days from the date of such termination or (ii) the expiration of the Option in accordance with this Section 3, exercise the Option, to the extent such Option had vested immediately prior to such termination and, thereafter, the Option shall, to the extent not previously exercised, automatically terminate and become null and void.

Vesting and Option Period. Participant may exercise the Option in whole or in part. Except as otherwise provided herein, the Option shall become vested and exercisable in full with respect to one third (1/3) of the covered Units on January 19the first anniversary of the Grant Date, 2016with respect to an additional one third (1/3) of the covered Units on the second anniversary of the Grant Date and with respect to the final one third (1/3) of the covered Units on the third anniversary of the Grant Date. Prior to such time, no portion of the Option shall be exercisable unless its exercisability is accelerated as provided in this Option Agreement or the Plan. Except as provided otherwise in this Option Agreement or the Plan, the Option, to the extent not theretofore exercised, shall terminate on the expiration of seven ten (710) years from the date of grant of the Option; provided, however, that upon the termination Participant’s service relationship with the Company for any reason other than (a) the death or Disability of the Participant or (b) termination of the Participant’s service relationship with the Company as a result of a Change of Control, Participant may, until the earlier of (i) 90 days from the date of such termination or (ii) the expiration of the Option in accordance with this Section 3, exercise the Option, to the extent such Option had vested immediately prior to such termination and, thereafter, the Option shall, to the extent not previously exercised, automatically terminate and become null and void.

Vesting and Option Period. Participant may exercise the Option in whole or in part. Except as otherwise provided herein, the Option shall become vested and exercisable in full with respect to one third (1/3) of the covered Units on January 19, 2016[ ], with respect to an additional one third (1/3) of the covered Units on January 19, [ ] and with respect to the final one third (1/3) of the covered Units on January 19, [ ]. Prior to such time, no portion of the Option shall be exercisable unless its exercisability is accelerated as provided in this Option Agreement or the Plan. Except as provided otherwise in this Option Agreement or the Plan, the Option, to the extent not theretofore exercised, shall terminate on the expiration of seven ten (710) years from the date of grant of the Option; provided, however, that upon the termination Participant’s service relationship with the Company for any reason other than (a) the death or Disability of the Participant or (b) termination of the Participant’s service relationship with the Company as a result of a Change of Control, Participant may, until the earlier of (i) 90 days from the date of such termination or (ii) the expiration of the Option in accordance with this Section 3, exercise the Option, to the extent such Option had vested immediately prior to such termination and, thereafter, the Option shall, to the extent not previously exercised, automatically terminate and become null and void.