Common use of Initial Exercisability Clause in Contracts

Initial Exercisability. Subject to paragraph 5 below, the Option, to the extent that there has been no termination of the Participant’s service and the Option has not otherwise expired or been forfeited, shall become exercisable as follows:

Initial Exercisability. Subject to paragraph 5 below, the Option, to the extent that there has been no termination of the ParticipantOptionee’s service employment and the Option has not otherwise expired or been forfeited, shall become exercisable as follows: