Common use of Vesting; Exercise of Option Clause in Contracts

Vesting; Exercise of Option. (a) Subject to the terms and conditions of this Agreement and provided that the Optionee continues to provide Service (as defined in Section 6 below) to the Company (or any Affiliate) through the applicable date. This Option shall vest and become exercisable during its term as follows: (i) 100% of the Shares shall vest and become exercisable on the second anniversary of the grant date. (ii) This Option may not be exercised for a fraction of a Share. (iii) In the event of Optionee’s death, disability or other termination of employment or consulting relationship, the vesting and exercisability of the Shares is governed by Sections 6, 7 and 8 below. Notwithstanding anything to the contrary, if the Optionee has an employment or change of control agreement with the Company that provides for more favorable exercise periods under the circumstances set forth in Sections 6, 7 and 8 below, such provisions shall apply. (b) This Option is exercisable by delivery of an exercise notice or in such other form as permitted generally by the Company and designated by the Company (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee and delivered to the Administrator of the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. (c) This Option may not be exercised more than seven (7) years from the date of grant, and may be exercised during such term only in accordance with the Plan and the terms of this Agreement. (d) In the event of a Change of Control of the Company, the Options are governed by Section 10 of the Plan.

Vesting; Exercise of Option. (a) Subject to the terms and conditions of this Agreement and provided that the Optionee continues to provide Service (as defined in Section 6 below) to the Company (or any AffiliateRelated Entity) through the applicable date. This Option shall vest and become exercisable during its term as follows: (i) 100% [Insert] of the Shares shall vest and become exercisable on the second anniversary [Insert]; [Insert] of the grant dateShares shall vest and become exercisable on [Insert]; [Insert] of the Shares shall vest and become exercisable on [Insert]; [Insert] of the Shares shall vest and become exercisable on [Insert]; such that all Shares available under the option are vested and exercisable no later than [Insert]. (ii) This Option may not be exercised for a fraction of a Share. (iii) In the event of Optionee’s death, disability or other termination of employment or consulting relationship, the vesting and exercisability of the Shares is governed by Sections 6, 7 and 8 below. Notwithstanding anything to the contrary, if the Optionee has an employment or change of control agreement with the Company that provides for more favorable exercise periods under the circumstances set forth in Sections 6, 7 and 8 below, such provisions shall apply. (b) This Option is exercisable by delivery of an exercise notice or in such other form as permitted generally by the Company and designated by the Company (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee and delivered to the Administrator of the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. (c) This Option may not be exercised more than seven five (75) years from the date of grant, and may be exercised during such term only in accordance with the Plan and the terms of this Agreement. (d) In the event of a Change of Control of the Company, the Options are governed by Section 10 11 of the Plan.

Vesting; Exercise of Option. (a) Subject to the terms and conditions of this Agreement and provided that the Optionee continues to provide Service (as defined in Section 6 below) to the Company (or any AffiliateRelated Entity) through the applicable date. This Option shall vest and become exercisable during its term as follows: (i) 100% [Insert] of the Shares shall vest and become exercisable on the second anniversary [Insert]; [Insert] of the grant dateShares shall vest and become exercisable on [Insert]; [Insert] of the Shares shall vest and become exercisable on [Insert]; [Insert] of the Shares shall vest and become exercisable on [Insert]; such that all Shares available under the option are vested and exercisable no later than [Insert]. (ii) This Option may not be exercised for a fraction of a Share. (iii) In the event of Optionee’s death, disability Disability or other termination of employment or consulting relationship, the vesting and exercisability of the Shares is governed by Sections 6, 7 and 8 below. Notwithstanding anything to the contrary, if the Optionee has an employment or change of control agreement with the Company that provides for more favorable exercise periods under the circumstances set forth in Sections 6, 7 and 8 below, such provisions shall apply. (b) This Option is exercisable by delivery of an exercise notice or in such other form as permitted generally by the Company and designated by the Company (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee and delivered to the Administrator of the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. (c) This Option may not be exercised more than seven (7) years from the date of grant, and may be exercised during such term only in accordance with the Plan and the terms of this Agreement. (d) In the event of a Change of Control of the Company, the Options are governed by Section 10 11 of the Plan.