Common use of Vesting of the Time Option Clause in Contracts

Vesting of the Time Option. Subject to the Participant’s continued Employment through the applicable vesting date, the Time Option shall vest and become exercisable with respect to twenty percent (20%) of the Shares subject to such Time Option on each of the first five anniversaries of the Vesting Reference Date. Notwithstanding the foregoing, in the event of a Change in Control, the Time Option shall, to the extent not then vested or previously forfeited or cancelled, become fully vested and exercisable.

Vesting of the Time Option. Subject to the Participant’s continued Employment through the applicable vesting date, the Time Option shall vest and become exercisable with respect to twenty percent (20%) of the Shares subject to such Time Option on each of the first five anniversaries of the Vesting Reference Commencement Date. Notwithstanding the foregoing, in the event of a Change in Control, the Time Option shall, to the extent not then vested that all or previously forfeited or cancelleda fraction of the Exit Options vest pursuant to the terms of this Agreement, become fully vested and exercisablethe same fraction of each tranche of the unvested Time Options which remain outstanding shall also vest.

Vesting of the Time Option. Subject to the Participant’s continued Employment through the applicable vesting date, the Time Option shall vest and become exercisable with respect to twenty thirty-three and one-third percent (2033 1/3%) of the Shares subject to such Time Option on each of the first five three anniversaries of the Vesting Reference Date. Notwithstanding the foregoing, in the event of a Change in Control, the Time Option shall, to the extent not then vested or previously forfeited or cancelled, become fully vested and exercisable.