Common use of Waiting Period and Exercise Dates Clause in Contracts

Waiting Period and Exercise Dates. The Option Shares may not be purchased during the one-year period following the Grant Date (the “waiting period”). Following the waiting period, the Option Shares may be purchased in accordance with the following schedule: 25% of the Option Shares commencing on each of the first, second, third and fourth one-year anniversaries of the Grant Date. To the extent that the Options to purchase Option Shares are not exercised by Employee when they become initially exercisable, the Options shall not expire but shall be carried forward and shall be exercisable at any time thereafter; provided, however, that the Options shall not be exercisable after the expiration of ten (10) years from the Grant Date or sooner as set forth in paragraph 9, if applicable. Exercise of the Options shall not be dependent upon the prior or sequential exercise of any other options heretofore granted to Employee by the Company. Except as provided in Article 6 of the Plan and Paragraph 9 below, the Options may not be exercised at any time unless Employee shall then be an employee of the Company.

Waiting Period and Exercise Dates. The Option Shares may not be purchased during the one-year period following the Grant Date before <DATE> (the “waiting period”). Following the waiting period, the Option Shares may be purchased in accordance with the following schedule: 25% <PERCENTAGE> of the Option Shares commencing on each of the first<DATES>, second, third and fourth one-year anniversaries of the Grant Daterespectively. To the extent that the Options to purchase Option Shares are not exercised by Employee when they become initially exercisable, the Options shall not expire but shall be carried forward and shall be exercisable at any time thereafter; provided, however, that the Options shall not be exercisable after the expiration of ten (10) years from the Grant Date or sooner as set forth in paragraph 9, if applicable. Exercise of the Options shall not be dependent upon the prior or sequential exercise of any other options heretofore granted to Employee by the Company. Except as provided in Article 6 of the Plan and Paragraph 9 below, the Options may not be exercised at any time unless Employee shall then be an employee of the Company.

Waiting Period and Exercise Dates. The Option Shares may not be purchased during the one-year period following the Grant Award Date (the “waiting period”). Following the waiting period, the Option Shares may be purchased in accordance with the following schedule: 25% of the Option Shares commencing on each of the first, second, third and fourth one-year anniversaries of the Grant Award Date. To the extent that the Options to purchase Option Shares are not exercised by Employee when they become initially exercisable, the Options shall not expire but shall be carried forward and shall be exercisable at any time thereafter; provided, however, that the Options shall not be exercisable after the expiration of ten (10) years from the Grant Award Date or sooner as set forth in paragraph 9, if applicable. Exercise of the Options shall not be dependent upon the prior or sequential exercise of any other options heretofore granted to Employee by the Company. Except as provided in Article 6 of the Plan and Paragraph 9 below, the Options may not be exercised at any time unless Employee shall then be an employee of the Company.

Waiting Period and Exercise Dates. The Option Shares may not be purchased during the one-year period following the Grant Award Date (the “waiting period”). Following the waiting period, the Option Shares may be purchased in accordance with the following schedule: 25% <<PERCENTAGE>> of the Option Shares commencing on each of the first, second, third and fourth one-year anniversaries of the Grant Date<<DATES>>. To the extent that the Options to purchase Option Shares are not exercised by Employee when they become initially exercisable, the Options shall not expire but shall be carried forward and shall be exercisable at any time thereafter; provided, however, that the Options shall not be exercisable after the expiration of ten (10) years from the Grant Award Date or sooner as set forth in paragraph 9, if applicable. Exercise of the Options shall not be dependent upon the prior or sequential exercise of any other options heretofore granted to Employee by the Company. Except as provided in Article 6 of the Plan and Paragraph 9 below, the Options may not be exercised at any time unless Employee shall then be an employee of the Company. 1 Bracketed language indicates additional or alternative language that appears in some award agreements.