Common use of DATE EXERCISABLE Clause in Contracts

DATE EXERCISABLE. The NQSO shall be exercisable at any time in whole or in part (but if in part, in an amount equal to at least 100 Shares or, if less, the number of Shares remaining to be exercised under this Agreement) on any business day of BellSouth before the date such option expires under Section 3 of this Agreement and after the earlier of (a) the first anniversary of the Grant Date; or (b) in the event, prior to the date in (a) above, (1) Optionee terminates service on the Board by reason of (A) death, (B) Disability (as defined in the Plan), or (C) retirement (as determined in accordance with the then applicable retirement policy for Directors), or (2) a Change in Control shall occur, the date of the occurrence of such event.