Term Clause Example with 221 Variations from Business Contracts
This page contains Term clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Term. You may not exercise your option before the Date of Grant or after the expiration of the option's term. The term of your option expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; (b) three months after the termination of your Continuous Service for any reason other than Cause, your Disability or your death (except as otherwise provided in Section 8(d) below); provided, howe...ver, that if during any part of such three month period your option is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and (B) the date that is three months after the termination of your Continuous Service, and (y) the Expiration Date; (c) 12 months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; (d) 18 months after your death if you die either during your Continuous Service or within three months after your Continuous Service terminates for any reason other than Cause; (e) the Expiration Date indicated in your Grant Notice; or (f) the day before the 10th anniversary of the Date of Grant. If your option is an Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three months before the date of your option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment with the Company or an Affiliate terminates.View More
Variations of a "Term" Clause from Business Contracts
Term. You may not exercise your option before the Date of Grant or after the expiration of the option's term. The term of your option expires, subject to the provisions terms and conditions of Section 5(h) of the Plan, your Employment Agreement (as defined in your Grant Notice), upon the earliest of the following: (a) immediately if the Employment Agreement and Confidentiality Agreement are not executed by you on or before December 15, 2021; (b) immediately upon the termination of your Continuous Serv...ice for Cause; (b) three months Cause (as defined in the Employment Agreement), in which case the entire unexercised portion of the option shall be forfeit; (c) forty-five (45) days after the termination of your Continuous Service for any reason other than Cause, your Disability Disability, or your death (except as otherwise provided in Section 8(d) 6(e) below); provided, however, that if during any part of such three month forty-five (45) day period your option is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," Section 4(b) hereof, your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months forty-five (45) days after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, that if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six (6) months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven (7) months after the Date of Grant, and (B) the date that is three months forty-five (45) days after the termination of your Continuous Service, and (y) the Expiration Date; (c) 12 months (d) forty-five (45) days after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) 6(e)) below; (d) 18 (e) twelve (12) months after your death if you die either during your Continuous Service Service, provided that the option shall cease to vest on the date of death; or within three months after your Continuous Service terminates for any reason other than Cause; (e) (f) the Expiration Date indicated in your Grant Notice; Notice. 3 7. Termination of Employment or (f) the day before the 10th anniversary Service/Breach of the Date Restrictive Covenants Agreement. The Compensation Committee, in its sole discretion, shall determine the effect of Grant. If your option is an Incentive Stock Option, note that all matters and questions relating to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three months before the date termination of your option's exercise, you must be an employee Continuous Service, including without limitation, whether a termination has occurred, whether any termination resulted from a discharge for Cause and whether any particular leave of the Company or an Affiliate, except in the event absence constitutes a termination of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated Continuous Service, as an Incentive Stock Option if well as whether you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment have fully complied with the Company or an Affiliate terminates. Restrictive Covenants for purposes of this Agreement. View More
Term. You may not exercise your option before Notwithstanding the Date of Grant foregoing, if you die during the period provided in Section 7(b) or after 7(c) above, the expiration of the option's term. The term of your option expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; (b) three months after the termination of your Continuous Service for any reason other than Cause, your ...Disability or your death (except as otherwise provided in Section 8(d) below); provided, however, that if during any part of such three month period your option is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," your option will shall not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and (B) the date that is three months after the termination of your Continuous Service, and (y) the Expiration Date; (c) 12 months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; (d) 18 eighteen (18) months after your death if you die either during your Continuous Service or within three months after your Continuous Service terminates for any reason other than Cause; (e) the Expiration Date indicated in your Grant Notice; or (f) the day before the 10th anniversary of the Date of Grant. Notice. If your option is an Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date date of Grant grant of your option and ending on the day three (3) months before the date of your option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three (3) months after the date your employment with the Company or an Affiliate terminates. View More
Term. You may not exercise your option before the Date of Grant or after the expiration of the option's term. The term of your option expires, subject to the provisions terms and conditions of Section 5(h) of the Plan, your Employment Agreement (as defined in your Grant Notice), upon the earliest of the following: (a) immediately if the Employment Agreement and Confidentiality Agreement are not executed by you on or before December 1, 2021; (b) immediately upon the termination of your Continuous Servi...ce for Cause; (b) three months Cause (as defined in the Employment Agreement), in which case the entire unexercised portion of the option shall be forfeit; (c) forty-five (45) days after the termination of your Continuous Service for any reason other than Cause, your Disability Disability, or your death (except as otherwise provided in Section 8(d) 6(e) below); provided, however, that if during any part of such three month forty-five (45) day period your option is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," Section 4(b) hereof, your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months forty-five (45) days after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, that if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six (6) months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven (7) months after the Date of Grant, and (B) the date that is three months forty-five (45) days after the termination of your Continuous Service, and (y) the Expiration Date; (c) 12 months (d) forty-five (45) days after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) 6(e)) below; (d) 18 (e) twelve (12) months after your death if you die either during your Continuous Service Service, provided that the option shall cease to vest on the date of death; or within three months after your Continuous Service terminates for any reason other than Cause; (e) (f) the Expiration Date indicated in your Grant Notice; Notice. 3 7. Termination of Employment or (f) the day before the 10th anniversary Service/Breach of the Date Restrictive Covenants Agreement. The Compensation Committee, in its sole discretion, shall determine the effect of Grant. If your option is an Incentive Stock Option, note that all matters and questions relating to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three months before the date termination of your option's exercise, you must be an employee Continuous Service, including without limitation, whether a termination has occurred, whether any termination resulted from a discharge for Cause and whether any particular leave of the Company or an Affiliate, except in the event absence constitutes a termination of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated Continuous Service, as an Incentive Stock Option if well as whether you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment have fully complied with the Company or an Affiliate terminates. Restrictive Covenants for purposes of this Agreement. View More
Term. You may not exercise your option Option before the commencement of its term or after its term expires. The term of your Option commences on the Date of Grant or after the expiration of the option's term. The term of your option expires, subject to the provisions of Section 5(h) of the Plan, and expires upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; (b) three months after the termination of your Continuous Service for any reason othe...r than Cause, your Disability or your death (except as otherwise provided in Section 8(d) below); provided, however, that if during any part of such three month period your option is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and (B) the date that is three months after the termination of your Continuous Service, and (y) the Expiration Date; death; (c) 12 months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; Disability; (d) 18 months after your death if you die either during your Continuous Service or within three months after your Continuous Service terminates for any reason other than Cause; Service; (e) immediately upon a Corporate Transaction if the Board has determined that the Option will terminate in connection with a Corporate Transaction, (f) the Expiration Date indicated in your Grant Notice; or (f) (g) the day before the 10th anniversary of the Date of Grant. If Non-Employee Director Notwithstanding the foregoing, if you die during the period provided in Section 4(b) or 4(c) above, the term of your option is an Incentive Stock Option, note that to obtain Option shall not expire until the federal income tax advantages associated earlier of (i) eighteen months after your death, (ii) upon any termination of the Option in connection with an Incentive Stock Option, a Corporate Transaction, (iii) the Code requires that at all times beginning on Expiration Date indicated in your Grant Notice, or (iv) the day before the tenth anniversary of the Date of Grant and ending on Grant. Additionally, the day three months before the date Post-Termination Exercise Period of your option's exercise, you must Option may be an employee extended as provided in Section 4(i) of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment with the Company or an Affiliate terminates. Plan. View More
Term. You may not exercise your option before the Date of Grant or after the expiration of the option's term. The term of your option expires, subject to the provisions of Section 5(h) of the Plan, expires upon the earliest of the following: (a) immediately upon the notification to you of a termination of your Continuous Service for Cause; (b) three months after the termination of your Continuous Service for any reason other than Cause, your Disability or your death (except death, except as otherwise ...provided in Section 8(d) below); Sections 6(d) and 6(e) below; provided, however, that if during any part of such three month period your option is not exercisable solely because of doing so would violate the condition set forth in registration requirements under the section above relating to 4. "Securities Law Compliance," Securities Act, your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months (which need not be consecutive) after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months (which need not be consecutive) after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and (B) the date that is three months after the termination of your Continuous Service, and (y) the Expiration Date; policy; (c) 12 twelve months after the termination of your Continuous Service due to your Disability (except Disability, except as otherwise provided in Section 8(d)) Sections 6(d) and 6(e) below; (d) 18 eighteen months after your death if you die either (i) during your Continuous Service or Service, (ii) within three months after the termination of your Continuous Service terminates for any reason other than Cause; Cause or your Disability, or (iii) within twelve months after the termination of your Continuous Service due to your Disability, in each case except as otherwise provided in Section 6(e) below; 3. (e) if your Qualifying Termination occurs prior to the effective date of a Change in Control, the later of the following ("the Qualifying Termination Period"): (i) the period determined under Section 6(b), 6(c) or 6(d) above, as applicable, or (ii) one month after the effective date of the Change in Control; provided, however, that if the Qualifying Termination Period is the one-month period after the effective date of the Change in Control and you die during such Qualifying Termination Period, such Qualifying Termination Period will be extended until eighteen months after your death; or (f) the Expiration Date indicated in your Grant Notice; or (f) the day before the 10th anniversary of the Date of Grant. If your option is an Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three months before the date of your option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment with the Company or an Affiliate terminates. Notice. View More
Term. You may not exercise your option Option before the Date commencement of Grant its term or after the expiration of the option's term. its term expires. The term of your option expires, subject to commences on the provisions date of Section 5(h) of the Plan, grant and expires upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; (b) three months after the termination of your Continuous Service for any reason other than Cause, your Disability... or your death (except as otherwise provided in Section 8(d) below); provided, however, that if during any part of such three month period your option is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and (B) the date that is three months after the termination of your Continuous Service, and (y) the Expiration Date; death; (c) 12 months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; Disability; (d) 18 months after your death if you die either during your Continuous Service or within three months after your Continuous Service terminates for any reason other than Cause; Service; (e) immediately upon a Corporate Transaction if the Expiration Date Board has determined that the Option will terminate in connection with a Corporate Transaction, (f) the expiration date indicated in your Grant Notice; or (f) (g) the day before the 10th anniversary of the Date date of Grant. If grant. Notwithstanding the foregoing, if you die during the period provided in Section 3(b) or 3(c) above, the term of your option is an Incentive Stock Option, note that to obtain Option shall not expire until the federal income tax advantages associated earlier of (i) eighteen months after your death, (ii) upon any termination of the Option in connection with an Incentive Stock Option, a Corporate Transaction, (iii) the Code requires that at all times beginning on the Date of expiration date indicated in your Grant and ending on Notice, or (iv) the day three months before the tenth anniversary of the date of grant. Additionally, the Post-Termination Exercise Period of your option's exercise, you must Option may be an employee extended as provided in Section 4(i) of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment with the Company or an Affiliate terminates. Plan. View More
Term. You may not exercise your option before the Date of Grant commencement or after the expiration of the option's its term. The term of your option expires, subject to commences on the provisions Date of Section 5(h) of the Plan, Grant and expires upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; (b) (i) three (3) months after the termination of your Continuous Service for any reason other than Cause, your Disability or your death (except... as otherwise death, provided in Section 8(d) below); provided, however, that if during any part of such three (3) month period your option is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," Section 6, your option will shall not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has shall have been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, Service; (ii) your Continuous Service terminates within six months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and (B) the date that is three months after the termination of your Continuous Service, and (y) the Expiration Date; (c) 12 twelve (12) months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; (d) 18 Disability; (iii) eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after your Continuous Service terminates for any reason other than Cause; (e) terminates; 21 (iv) twenty-four (24) months after the termination of your Continuous Service due to your Retirement; (v) twelve (12) months after the termination of your Continuous Service due to a termination by the Company or its successor without Cause or a Constructive Termination where such termination occurs within twelve months after a Change in Control; (vi) the Expiration Date indicated in your Grant Notice; or (f) 8. EXERCISE. (i) You may exercise the day before vested portion of your option (and the 10th anniversary unvested portion of your option if your Grant Notice so permits) during its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of the Date of Grant. If Company, or to such other person as the Company may designate, during regular business hours, together with such additional documents as the Company may then require. (ii) By exercising your option is an Incentive Stock Option, note that you agree that, as a condition to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three months before the date any exercise of your option's exercise, option, the Company may require you must be to enter into an employee arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company or an Affiliate, except in arising by reason of (1) the event exercise of your death option, (2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or Disability. The Company has provided for extended exercisability (3) the disposition of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive shares of Common Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment with the Company or an Affiliate terminates. acquired upon such exercise. View More
Term. You may not exercise your option before the Date of Grant commencement or after the expiration of the option's its term. The term of your option expires, subject to commences on the provisions Date of Section 5(h) of the Plan, Grant and expires upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; (b) three (3) months after the termination of your Continuous Service employment or service with the Company for any reason other than Cause, yo...ur Disability or your death (except as otherwise death, provided in Section 8(d) below); provided, however, that if during any part of such three month (3)-month period you may not exercise your option is not exercisable solely because of the condition set forth in the section above preceding paragraph relating to 4. "Securities Law Compliance," your option will shall not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has shall have been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which employment or service with the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and (B) the date that is three Company; (b) twelve (12) months after the termination of your Continuous Service, and (y) employment or service with the Expiration Date; (c) 12 months after the termination of your Continuous Service Company due to your Disability (except as otherwise provided in Section 8(d)) below; (d) 18 Disability; (c) twelve (12) months after your death if you die either during your Continuous Service employment or service with the Company or within three (3) months after your Continuous Service terminates for employment or service with the Company terminates; (d) immediately upon the termination of your employment or service with the Company in the event of Cause (as defined in the Employment Agreement) or upon your violation of any reason other than Cause; of Sections 8.1, 8.3 or 8.5 of the Employment Agreement; or (e) the Expiration Date indicated in your Grant Notice; or (f) the day before the 10th anniversary of the Date of Grant. Notice. If your option is an Incentive Stock Option, note that that, to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date date of Grant grant of your option and ending on the day three (3) months before the date of your option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three (3) months after the date your employment terminates. 3 8. Exercise. (a) You may exercise the vested portion of your option during its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary of the Company, or to such other person as the Company may designate, during regular business hours, together with such additional documents as the Company may then require. (b) By exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason of (1) the exercise of your option, (2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (3) the disposition of shares of Common Stock acquired upon such exercise. (c) If your option is an Affiliate terminates. Incentive Stock Option, by exercising your option you agree that you will notify the Company in writing within fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two (2) years after the date of your option grant or within one (1) year after such shares of Common Stock are transferred upon exercise of your option. View More
Term. You may not exercise your option Award before the Date of Grant or after the expiration of the option's Award's term. The term of your option Award expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; 2. (b) three (3) months after the termination of your Continuous Service for any reason other than Cause, your Disability or your death (except as otherwise provided in Section ...8(d) 7(d) below); provided, however, that if during any part of such three (3) month period your option Award is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," your option Award will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option Award would violate the Company's insider trading policy, then your option Award will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option Award would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six (6) months after the Date of Grant, and (iii) you have vested in a portion of your option Award at the time of your termination of Continuous Service, your option Award will not expire until the earlier of (x) the later of (A) the date that is seven (7) months after the Date of Grant, and (B) the date that is three (3) months after the termination of your Continuous Service, and (y) the Expiration Date; (c) 12 twelve (12) months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; (d) 18 eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after your Continuous Service terminates for any reason other than Cause; (e) the Expiration Date indicated in your Grant Notice; or (f) the day before the 10th tenth (10th) anniversary of the Date of Grant. If your option is an Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three months before the date of your option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment with the Company or an Affiliate terminates.View More
Term. You may not exercise your option before the Date of Grant commencement or after the expiration of the option's its term. The term of your option commences on the Date of Grant and expires, subject to the provisions of Section 5(h) 5(g) of the Plan, upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; (b) three (3) months after the termination of your Continuous Service for any reason other than Cause, your Disability or your death (except... as otherwise provided in Section 8(d) below); death; provided, however, that if during any part of such three month period your option is not exercisable solely because of the condition set forth in the section above relating to 4. "Securities Law Compliance," your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months after the termination of your Continuous Service; provided further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option would violate the Company's insider trading policy, then your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three (3) months after the termination of your Continuous Service during which the sale of the Common Stock received upon exercise of your option would not be in violation of the Company's insider trading policy. Notwithstanding the foregoing, if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six (6) months after the Date of Grant, Grant specified in your Grant Notice, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will shall not expire until the earlier of (x) the later of (A) the date that is seven (7) months after the Date of Grant, and Grant specified in your Grant Notice or (B) the date that is three (3) months after the termination of your Continuous Service, and or (y) the Expiration Date; (c) 12 (b) twelve (12) months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; (d) 18 Disability; (c) eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after your Continuous Service terminates for any reason other than Cause; (e) terminates; or (d) the Expiration Date indicated in your Grant Notice; or (f) the day before the 10th anniversary of the Date of Grant. If your option is an Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three months before the date of your option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment with the Company or an Affiliate terminates. Notice. View More
