Common use of Initial Exercise Date Clause in Contracts

Initial Exercise Date. Outstanding vested Options may not be exercised earlier than the first anniversary of the Date of Grant of the Options (the “Initial Exercise Date”); provided that the condition set forth in this Paragraph 9(b) shall be waived if your employment with the Company is terminated by reason of death, Disability or Retirement as provided in Paragraph 4(b) or 7(a).

Initial Exercise Date. Outstanding vested Options may not be exercised earlier than the first anniversary of the Date of Grant of the Options (the “Initial Exercise Date”); provided provided, however, that the condition set forth in this Paragraph 9(b) shall be waived if your employment Employment with the Company is terminated by reason of death, Disability or Retirement as provided in Paragraph 4(b) or 7(a)retirement.