Common use of Vesting; Exercisability Clause in Contracts

Vesting; Exercisability. a) The Option shall vest 20% on each of the first five (5) anniversaries of the Grant Date. The Options shall continue to vest for as long as the Optionee provides services to the Company. The Options shall vest immediately under conditions (including a Change of Control) defined in the Employment Agreement. b) The Option shall remain exercisable, for as long as Optionee provides services to the Company under his Employment Agreement. In the event that Optionee ceases to provide services under his Employment Agreement, the Options shall remain exercisable for the periods specified in the Employment Agreement, and in the absence of such a specification, then as specified in the Plan.