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 Option before the Date of Grant or after the expiration of the option's Option's term. The term of your option 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 provided in Section ...8(d) 6(d) below); provided, however, that if during any part of such three (3) month period your option Option is not exercisable solely because of the condition set forth in the section above relating to 4. regarding "Securities Law Compliance," your option 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; provided provided, further, if during any part of such three (3) month period, the sale of any Common Stock received upon exercise of your option Option would violate the Company's insider trading policy, then your option 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 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 (12) months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below; 6(d) below); (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 Grant Notice; or (f) the day before the 10th tenth (10th) anniversary of the Date of Grant. 2 7. EXERCISE. (a) You may exercise the vested portion of your Option (and the 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) or completing such other documents and/or procedures designated by the Company for exercise as the Company may then require. (b) By exercising your Option you agree that, as a condition to any exercise of your Option and in accordance with Section 12 below, 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 (i) the exercise of your Option, (ii) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (iii) the disposition of shares of Common Stock acquired upon such exercise. (c) If your option Option is an Incentive Stock Option, note by exercising your Option you agree that to obtain you will notify the federal income tax advantages associated with an Incentive Company in writing within fifteen (15) days after the date of any disposition of any of the shares of the Common Stock Option, the Code requires issued upon exercise of your Option that at all times beginning on occurs within two (2) years after the Date of Grant and ending on the day three months before the date or within one (1) year after such shares of Common Stock are transferred upon exercise 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. Option. 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; 26 (b) three months after the termination of your Continuous Service for any reason other than Cause, your Disabil...ity 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. Notwithstanding the foregoing, if you die during the period provided in Section 3(b) or 3(c) above, the term of your 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 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. If your option is an Incentive Stock Option, note that you are subject to U.S. federal income taxes, to obtain the U.S. 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) 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 Additionally, the Post-Termination Exercise Period of your option is an Incentive Stock Option, note that to 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 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 24 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) 2. (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 3(b) or 3(c) above, the term of your option is an Incentive Stock Option, note that to Option shall not expire until the earlier of (i) 24 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 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) 2 Standard Stock Option Grant Package (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 3(b) or 3(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 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) 2 Standard Stock Option Grant Package (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 3(b) or 3(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 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 24 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 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 Option shall not expire until the earlier of (i) 24 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 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 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 date on which the event giving rise to your termination of your Continuous Service for Cause; Cause occurs (or, if required by law, the date of termination of Continuous Service for Cause); (b) three months sixty (60) days 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) 1. 7(d) below); provided, however, that if during any part of such three month sixty (60) day 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 sixty (60) days after the termination of your Continuous Service; provided further, if during any part of such three (3) month sixty (60) day 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 sixty (60) days 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, 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 sixty (60) days after the termination of your Continuous Service, and (y) the Expiration Date; (c) 12 six (6) months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) 7(d)) below; (d) 18 six (6) months after your death if you die either during your Continuous Service or within three months thirty (30) days 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 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 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 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. 2 Standard Stock Option, note that to Option Grant Package 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 or after the expiration of the option's term. The Except as may be provided otherwise in the Vesting Schedule in Exhibit A to your Grant Notice or in an employment or other agreement between you and the Company, the term of your option expires, subject expires (subject to the provisions of Section 5(h) 7(c) of the Plan, Plan in the event that your Option is an Incentive Stock Option and you, on the Date of Grant, own shares representing m...ore than 10% of the combined voting power of the Company) upon the earliest of the following: (a) immediately upon the termination of your Continuous Service service with the Company for Cause; (b) three months after the termination of your Continuous Service service with the Company for any reason other than Cause, your Disability (as defined below) or your death (except as otherwise provided in Section 8(d) 7(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; service with the Company; 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 service with the Company 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 service with the Company, 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, service with the Company, and (y) the Expiration Date; 2 (c) 12 months after the termination of your Continuous Service service with the Company due to your Disability (except as otherwise provided in Section 8(d)) below; 7(d)) below. For purposes of this Option Agreement, "Disability" means your inability to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or that has lasted or can be expected to last for a continuous period of not less than 12 months as provided in Sections 22(e)(3) and 409A(a)(2)(c)(i) of the Code, and will be determined by the Committee on the basis of such medical evidence as the Committee deems warranted under the circumstances. ; (d) 18 12 months after your death if you die either during your Continuous Service service with the Company or within three months after your Continuous Service service with the Company 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 consultant or Director 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
