Common use of Effect on Options Clause in Contracts

Effect on Options. The Executive hereby acknowledges and agrees that the Excess Portion of the Options is null and void and the Executive has no rights with respect thereto. The Options shall otherwise remain in effect in accordance with their terms. For purposes of clarity, the vesting schedule of the Options shall be determined as though the Excess Portions had not been granted.

Effect on Options. The Executive hereby acknowledges and agrees that the Excess Portion Portions of the 2008 Options is and 2009 Options are null and void and the Executive has no rights with respect thereto. The 2008 Options and 2009 Options shall otherwise remain in effect in accordance with their terms. For purposes of clarity, the vesting schedule of the 2008 Options and the 2009 Options shall be determined as though the Excess Portions had not been granted.