Common use of Vesting of Stock Option Clause in Contracts

Vesting of Stock Option. (a) Unless and until terminated as hereinafter provided, the Stock Option shall vest and become exercisable to the extent of _______________ of the Shares on each of the Vesting Dates set forth above (each a "Vesting Date") (rounded down to the next whole number), provided that the Grantee shall have remained in the continuous employ of the Company or a Subsidiary through the applicable Vesting Date. (b) Notwithstanding the provisions of Section 2(a), the Stock Option will become immediately vested and exercisable in full if, prior to the applicable Vesting Date: (i) the Grantee ceases to be employed with the Company and its Subsidiaries by reason of death or Disability (defined by reference to the long-term disability plan covering the Grantee that is maintained by the Company or a Subsidiary); or (ii) a Change in Control occurs while the Grantee is employed by the Company or any Subsidiary. (c) For purposes of this Agreement, the continuous employment of the Grantee with the Company and its Subsidiaries shall not be deemed to have been interrupted, and the Grantee shall not be deemed to have ceased to be an employee of the Company and its Subsidiaries, by reason of the transfer of his employment among the Company and its Subsidiaries or a leave of absence or layoff approved by the Committee.

Vesting of Stock Option. (a) Unless and until terminated as hereinafter provided, the Stock Option shall vest and become exercisable to if the extent of _______________ of the Shares on each of the Vesting Dates set forth above (each a "Vesting Date") (rounded down to the next whole number), provided that the Grantee Participant shall have remained in the continuous employ of the Company or a Subsidiary through the applicable vesting dates (each, a “Vesting Date.”) set forth below with respect to the portion of Shares set forth next to such date: (b) Notwithstanding the provisions of Section 2(a), the Stock Option will become immediately vested and exercisable in full if, prior to the applicable Vesting Date: (i) date the Grantee ceases Stock Option becomes fully vested and exercisable pursuant to be employed with Section 2(a), and while the Participant is in the employ of the Company and its Subsidiaries by reason of death Subsidiaries, the Participant dies or Disability becomes permanently disabled (defined by reference to the Company’s long-term disability plan covering the Grantee that is maintained by the Company or a SubsidiaryParticipant); or (ii) a Change in Control occurs while the Grantee is employed by the Company or any Subsidiary. (c) For purposes of this Agreement, the continuous employment of the Grantee Participant with the Company and its Subsidiaries shall not be deemed to have been interrupted, and the Grantee Participant shall not be deemed to have ceased to be an employee of the Company and its Subsidiaries, by reason of the transfer of his employment among the Company and its Subsidiaries or a leave of absence or layoff approved by the Committee.

Vesting of Stock Option. (a) Unless and until terminated as hereinafter provided, the Stock Option shall vest and become exercisable to the extent of _______________ of the Shares on each of the Vesting Dates as set forth above in the vesting schedule below (each a "Vesting Date") (rounded down subject to rounding conventions adopted by the next whole numberCompany), provided that the Grantee shall have remained in the continuous employ of the Company or a Subsidiary through each applicable Vesting Date. For purposes of this Agreement, a “Tranche” shall be the applicable number of Shares for which the Stock Option has vested on a particular Vesting Date. (b) Notwithstanding the provisions of Section 2(a), the Stock Option will become immediately vested and exercisable in full if, prior to the applicable a Vesting Date: (i) the Grantee ceases to be employed with the Company and its Subsidiaries by reason of death or Disability (defined by reference to the long-term disability plan covering the Grantee that is maintained by the Company or a Subsidiary); or (ii) a Change in Control occurs while the Grantee is employed by the Company or any Subsidiary. (c) For purposes of this Agreement, the continuous employment of the Grantee with the Company and its Subsidiaries shall not be deemed to have been interrupted, and the Grantee shall not be deemed to have ceased to be an employee of the Company and its Subsidiaries, by reason of the transfer of his employment among the Company and its Subsidiaries or a leave of absence or layoff approved by the CommitteeCompany.

Vesting of Stock Option. (a) Unless and until terminated as hereinafter provided, the Stock Option shall vest become vested and become exercisable in accordance with the vesting schedule below (subject to rounding conventions adopted by the extent of _______________ of the Shares on each of the Vesting Dates set forth above (each a "Vesting Date") (rounded down to the next whole numberCompany), provided that the Grantee shall have remained in the continuous employ of the Company or a Subsidiary through the each applicable Vesting Date. (b) Notwithstanding the provisions of Section 2(a), the Stock Option will become immediately vested and exercisable in full if, prior to the applicable a Vesting Date: (i) the Grantee ceases to be employed with the Company and its Subsidiaries by reason of death or Disability (defined by reference to the long-term disability plan covering the Grantee that is maintained by the Company or a Subsidiary); or (ii) a Change in Control occurs while the Grantee is employed by the Company or any Subsidiary. (c) For purposes of this Agreement, the continuous employment of the Grantee with the Company and its Subsidiaries shall not be deemed to have been interrupted, and the Grantee shall not be deemed to have ceased to be an employee of the Company and its Subsidiaries, by reason of the transfer of his employment among the Company and its Subsidiaries or a leave of absence or layoff approved by the CommitteeCompany.