Common use of Change in Time Commitment Clause in Contracts

Change in Time Commitment. In the event your regular level of time commitment in the performance of your services for the Company and any Affiliates is reduced (for example, if you have a change in status from a full-time Employee to a part-time Employee or takes an extended leave of absence) after the date of grant of your option, the Board has the right in its sole discretion, but in all cases subject to the ASX Listing Rules, to (x) make a corresponding reduction in the number of shares or cash amount subject to any portion of your option that is scheduled to vest or become payable after the date of such change in time commitment, and (y) in lieu of or in combination with such a reduction, extend the vesting or payment schedule applicable to your option. In the event of any such reduction, you will have no right with respect to any portion of the option that is so reduced or extended.