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 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 (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); pro...vided, however, that if during any part of such three (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 (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 this Option before the Date of Grant or after the expiration of the option's its term. The term of your option this Option expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following: (a) a. immediately upon the termination of your Continuous Service if such termination is for Cause; (b) three b. six months after the termination of your Continuous Service if such termination is for any reason other than Cause, your Disabilit...y 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 this Option as of the time of your termination of Continuous Service, your option then this 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 six months after the termination of your Continuous Service, and (y) the Expiration Date; (c) Date set forth in the Grant Notice; c. 12 months after the termination of your Continuous Service if such termination is due to your Disability (except as otherwise provided in Section 8(d)) below; (d) 8(d) below); d. 18 months after your death if you die either during your Continuous Service terminates due to your death or you die within three six months after your Continuous Service terminates for any reason other than Cause; (e) e. the Expiration Date indicated set forth in your the Grant Notice; or (f) f. the day before the 10th tenth anniversary of the Date of Grant. If your option this 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, exercise of this Option, 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 this Option under certain circumstances for your benefit but cannot guarantee that your option this 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 this 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 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," 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; 2. (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 (3) months after your Continuous Service terminates for any reason other than Cause; terminates; (e) in certain circumstances upon the effective date of a Corporate Transaction as set forth in the Plan; (f) the Expiration Date indicated in your Grant Notice; or (f) (g) the day before the 10th tenth (10th) anniversary of the Date of Grant. "Cause" means the occurrence of any one or more of the following: (i) your commission of any crime involving fraud, dishonesty or moral turpitude; (ii) your attempted commission of or participation in a fraud or act of dishonesty against the Company that results in (or might have reasonably resulted in) material harm to the business of the Company; (iii) your intentional, material violation of any contract or agreement between you and the Company or any statutory duty you owe to the Company; or (iv) your conduct that constitutes gross insubordination, incompetence or habitual neglect of duties and that results in (or might have reasonably resulted in) material harm to the business of the Company; provided, however, that the action or conduct described in clauses (iii) and (iv) above will constitute "Cause" only if such action or conduct continues after the Company has provided you with written notice thereof and thirty (30) days to cure the same. 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 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 months after the termination of your Continuous Service for any reason other than Cause, upon your Disability Disability, retirement o...r 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 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 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, and if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six 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 months after the Date of Grant, and Grant specified in your Grant Notice or (B) the date that is three months after the termination of your Continuous Service, and or (y) the Expiration Date; (c) (b) 12 months after the termination of your Continuous Service due to your Disability (except Disability; (c) 18 months after the termination of your Continuous Service due to your retirement; provided that (i) you were over the age of 55 at the time of such retirement and (ii) you had been providing Continuous Service to the Company as otherwise provided in Section 8(d)) below; an Employee, Director or Consultant (or any combination thereof) for a continuous and uninterrupted period of at least five years prior to such retirement; (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) 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 7(a), 7(b) or 7(c) 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 18 months after your death, the Code requires that at all times beginning on Expiration Date indicated in your Grant Notice, or the day before the tenth 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
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 of Section 5(h) of the Plan, Grant Date 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 5, 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 Service;(c) twelve (12) 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; Disability; (d) 18 twelve (12) 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 the Grant Notice; Summary; or (f) the day before the 10th tenth (10th) anniversary of the Date of Grant. Grant Date. 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 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 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 consultant or Director 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 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); 6(d) 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 2. 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)) 6(d) 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; or (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. 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; -3- (e) immediately upon a Change in Control if the Board has determined that the Option will terminate in connection with a Change in Control; (f) the Expiration Date indicated in your Grant Notice; or (f) (g) the day before the 10th [10th][5th] anniversary of the Date of Grant. If Notwithstanding the foregoing, if you die during the period provided in Section 3(b) or 3(c) above, the term of your option is Option shall not expire until the earlier of (i) eighteen months after your death, (ii) upon any termination of the Option in connection with a Change in Control, (iii) the Expiration Date indicated in your Grant Notice, or (iv) the day before the tenth anniversary of the Date of Grant. Additionally, the Post-Termination Exercise Period of your Option may be extended as provided in the Plan. In the case of an Incentive Stock Option, note that Option only, 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 months before the date of your option's Option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The If the Company has provided provides for the 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 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 PRC Form Share Option Grant Package 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 Option shall not expire until the earlier of (i) 18 months after your death, (ii) upon any termination of the Option in connection with a Corporate Transaction, (iii) the Expiration Date indicated in your Grant Notice, or (iv) the day before the tenth anniversary of the Date of Grant. Additionally, the Post-Termination Exercise Period of your Option may be extended as provided in Section 4(i) of the Plan. To obtain the federal income tax advantages associated with an Incentive Stock Share 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 months before the date of your option's Option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The If the Company has provided provides for the 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 Share 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 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 Option shall not expire until the earlier of (i) 18 months after your death, (ii) upon any termination of the Option in connection with a Corporate Transaction, (iii) the Expiration Date indicated in your Grant Notice, or (iv) the day before the tenth anniversary of the Date of Grant. Additionally, the Post-Termination Exercise Period of your Option may be extended as provided in Section 4(i) of the Plan. -44- Table of Contents (continued) Page 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 months before the date of your option's Option's exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The If the Company has provided provides for the 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 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 (a)immediately upon the termination of your Continuous Service for Cause; (b) three (b)three (3) months after the termination of your Continuous Service for any reason other than Cause, your Disabili...ty 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 Section 6 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 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, Service; and if (i) you are a Non-Exempt 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 (c)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; (d)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 (e)the Expiration Date indicated in your Grant Notice; or (f) the (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
