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 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 for any reason other than Cause, your by 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 your you may not exercise option is not exercisable solely because of the condition set forth in the section above Section 17, relating to 4. "Securities "Applicable 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 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 Service; (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; (d) the Expiration Date indicated in your Grant Notice; or (f) (e) 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 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) a. 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 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 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 Service; 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) d. the Expiration Date indicated in your Grant Notice; or (f) e. 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 commencement of Grant 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 [three][thirty-six for directors] months after the termination of your Continuous Service for any reason other than Cause, your Disabi...lity or your death (except as otherwise death, provided in Section 8(d) below); provided, however, that if during any part of such three month [three][thirty-six]-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 shall have been exercisable for an aggregate period of three [three][thirty-six] 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 twelve months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; Disability; (d) 18 eighteen 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 tenth 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 (3) months after the date your employment with the Company or an Affiliate terminates. 3 9. 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 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 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; 4 (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 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 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 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 (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, (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 Service; 5 (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; (d) the Expiration Date indicated in your Grant Notice; or (f) (e) 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 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 for any reason other than Cause, your by 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 Section 7, 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 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 Service; (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; (d) the Expiration Date indicated in your Grant Notice; or (f) (e) 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 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 grant specified in the Plan, Grant Notice (the "Grant Date") and expires upon the earliest of the following: (a) immediately upon the termination of your Continuous Service for Cause; (b) three months Ninety (90) days after the termination of your Continuous S...ervice 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 month 90-day period 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 shall have been exercisable for an aggregate period of three months 90 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, 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 (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 months 90 days 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 Notice. For purposes of the Date option, your Continuous Service will be considered terminated as of Grant. the date you are no longer actively providing services to the Company or an Affiliate (regardless of the reason for such termination and whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any), and unless otherwise expressly provided in this Stock Option Agreement or determined by the Company, (i) your right to vest in the option under the Plan, if any, will terminate as of such date and will not be extended by any notice period (e.g., your period of Continuous Service would not include any contractual notice period or any period of" garden leave" or similar period mandated under employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any); and (ii) the period (if any) during which you may exercise the option after such termination of your Continuous Service will commence on the date you cease to actively provide services and will not be extended by any notice period mandated under employment laws in the jurisdiction where you are employed or terms of your employment agreement, if any; the Company shall have the exclusive discretion to determine when you are no longer actively providing services for purposes of your option (including whether you may still be considered to be providing services while on a leave of absence). If you are U.S. taxpayer and your option is an Incentive Stock Option, note that that, to obtain the U.S. federal income tax advantages associated with an Incentive Stock Option, "incentive stock option," the Code requires that at all times beginning on the Grant Date of Grant 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 benefit, but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option "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. 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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 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, (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 Service; (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; (d) the Expiration Date indicated in your Grant Notice; or (f) (e) 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 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) a. immediately upon the termination of your Continuous Service for Cause; (b) b. three months after the termination of your Continuous Service for any reaso...n 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; (c) death; c. 12 months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; (d) 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; (e) 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 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) 18 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 Plan. If the Company or an Affiliate, except in provides for the event of your death or Disability. The Company has provided for extended exercisability of your option Option under certain circumstances for your benefit but cannot guarantee that benefit, your option Option will not 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 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 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 (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 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 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; Service; (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; Disability; (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; Service; (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 Notwithstanding the foregoing, if you die during the period provided in Section 8(b) above, the term of your option is an Incentive Stock Option, note that to obtain shall not expire until the federal income tax advantages associated with an Incentive Stock Option, earlier of eighteen (18) months after your 21. termination of your Continuous Service, the Code requires that at all times beginning on Expiration Date indicated in your Grant Notice, or the day before the tenth (10th) anniversary of 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. Grant. View More
