Common use of When Option May Be Exercised Clause in Contracts

When Option May Be Exercised. (a) Except as otherwise provided in this section, the vested portion of this Option shall be exercised, if at all, by the Optionee at any time before the Expiration Date. (b) If the Optionee ceases to be an Employee because of death, the Optionee's vested Options shall be exercised, if at all, by the person or entity (including the Optionee's estate) that has obtained the Optionee's rights under the Option by will or under the laws of descent and distribution, at any time before the Expiration Date. (c) If the Optionee ceases to be an Employee because of Disability, the Optionee's vested Options must be exercised, if at all, not later than twelve months following the date the Optionee ceases to be an Employee. (d) If the Optionee ceases to be an Employee for any reason other than death or Disability, the Optionee's vested Options must be exercised, if at all, not later than ninety (90) days following the date the Optionee ceases to be an Employee. Any unvested portion of this Option terminates immediately upon the cessation of employment of the Optionee. (e) The Committee shall have the discretion, exercisable at any time before a sale, merger, consolidation, reorganization, liquidation or change of control of the Company, as defined by the Committee, to provide for the acceleration of vesting and for settlement, including cash payment, of the Option upon or immediately before the effectiveness of such event. (f) Notwithstanding anything else in this Agreement to the contrary, in no event shall the Optionee exercise this Option until the Company, pursuant to the terms of its restated certificate of incorporation, has authorized for issuance the shares issuable upon exercise of this Option.

When Option May Be Exercised. (a) Except as otherwise provided in this section, the vested portion of this Option shall be exercised, if at all, by the Optionee at any time before the Expiration Date. (b) If the Optionee ceases to be an Employee because of death, the Optionee's vested Options shall be exercised, if at all, by the person or entity (including the Optionee's estate) that has obtained the Optionee's rights under the Option by will or under the laws of descent and distribution, at any time before the Expiration Date. (c) If the Optionee ceases to be an Employee because of Disability, the Optionee's vested Options must be exercised, if at all, not later than twelve months following the date the Optionee ceases to be an Employee. (d) If the Optionee ceases to be an Employee for any reason other than death or Disability, the Optionee's vested Options must be exercised, if at all, not later than ninety (90) days following the date the Optionee ceases to be an Employee. Any unvested portion of this Option terminates immediately upon the cessation of employment of the Optionee. (e) The Committee shall have the discretion, exercisable at any time before a sale, merger, consolidation, reorganization, liquidation or change of control of the Company, as defined by the Committee, to provide for the acceleration of vesting and for settlement, including cash payment, of the Option upon or immediately before the effectiveness of such event. (f) Notwithstanding anything else in this Agreement to the contrary, in no event shall the Optionee exercise this Option until the Company, pursuant to the terms of its restated certificate it's Restated Certificate of incorporationIncorporation, has authorized for issuance the shares issuable upon exercise of this Option.

When Option May Be Exercised. (a) Except as otherwise provided in this section, the vested portion of this Option shall be exercised, if at all, by the Optionee at any time before the Expiration Date. (b) If the Optionee ceases to be an Employee because of death, the Optionee's ’s vested Options shall be exercised, if at all, by the person or entity (including the Optionee's ’s estate) that has obtained the Optionee's ’s rights under the Option by will or under the laws of descent and distribution, at any time before the Expiration Date. (c) If the Optionee ceases to be an Employee because of Disability, the Optionee's ’s vested Options must be exercised, if at all, not later than twelve months following the date the Optionee ceases to be an Employee. (d) If the Optionee ceases to be an Employee for any reason other than death or Disability, the Optionee's ’s vested Options must be exercised, if at all, not later than ninety (90) days following the date the Optionee ceases to be an Employee. Any unvested portion of this Option terminates immediately upon the cessation of employment of the Optionee. (e) The Committee shall have the discretion, exercisable at any time before a sale, merger, consolidation, reorganization, liquidation or change of control of the Company, as defined by the Committee, to provide for the acceleration of vesting and for settlement, including cash payment, of the Option upon or immediately before the effectiveness of such event. (f) Notwithstanding anything else in this Agreement to the contrary, in no event shall the Optionee exercise this Option until the Company, pursuant to the terms of its restated certificate it’s Restated Certificate of incorporationIncorporation, has authorized for issuance the shares issuable upon exercise of this Option.