Common use of Initial Exercisability Clause in Contracts

Initial Exercisability. (a) Subject to paragraph 5 below, the Option, to the extent that there has been no termination of the Optionee’s employment and the Option has not otherwise expired or been forfeited, shall become exercisable as follows: (b) Notwithstanding the foregoing, the Option shall also become exercisable and otherwise vested (i) if and as provided in the employment agreement between the Optionee and the Company, dated as of , as amended from time to time (the “Employment Agreement”) to the same extent as they would were the provisions of the Employment Agreement relating to such exercisability and vesting applicable by their terms to the Options, if and to the extent the Employment Agreement is in effect at the relevant time, and nothing herein shall limit any of the Optionee’s rights under the Employment Agreement and (ii) upon a Change in Control while the Optionee is employed.