Common use of Fourth Anniversary Clause in Contracts

Fourth Anniversary. On the fourth anniversary date of this Agreement an additional __________ of the Optioned Shares will vest provided that Grantee provides services to the Company or a subsidiary of the Company on a continuous basis until such anniversary date. Notwithstanding the foregoing, all Optioned Shares shall vest at such time as there shall have commenced the first regular sales of Company pharmaceutical products for consumer use in the United States in commercially significant quantities, whether such sales are effected directly by the Company or indirectly through a licensee or other intermediary, provided the Grantee continues to provide services to the Company or a subsidiary of the Company at such time. If the Company or its subsidiaries shall terminate Grantee's employment for any reason (other than the failure of Grantee substantially to perform his duties pursuant thereto) with the effect that Grantee shall cease to be in the employ of the Company or its subsidiaries prior to the time that all Optioned Shares shall have vested, then such number of Optioned Shares shall vest on the date of termination as would have vested on the next ensuing anniversary of this Agreement which would have occurred but for such termination of employment.