Common use of Installment Exercise Clause in Contracts

Installment Exercise. (a) Subject to such further limitations as are provided herein, and except as provided in subparagraph (b) below, the Option shall become vested and exercisable in _______ installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion: [To be set by the Committee] (b) If the Grantee's employment with the Company terminates on account of his or her death, the vesting and exercisability of the Option Shares shall be accelerated so that the portion of the Option Shares that would have become vested and exercisable within the one year period after the Grantee's death shall be vested and exercisable on that date.

Installment Exercise. (a) Subject to such further limitations as are provided herein, and except as provided in subparagraph (b) below [and Paragraph 4] below, the Option shall become vested and exercisable in _______ installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion: [To be set by the Committee] (b) If the Grantee's employment service with the Company terminates on account of his or her death, the vesting and exercisability of the Option Shares shall be accelerated so that the portion of the Option Shares that would have become vested and exercisable within the one year period after the Grantee's death shall be vested and exercisable on that date.

Installment Exercise. (a) Subject to such further limitations as are provided herein, and except as provided in subparagraph (b) below [and Paragraph 4] below, the Option shall become vested and exercisable in _______ installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion: [To be set by the Committee] (b) If the Grantee's employment with the Company terminates on account of his or her death, the vesting and exercisability of the Option Shares shall be accelerated so that the portion of the Option Shares that would have become vested and exercisable within the one year period after the Grantee's death shall be vested and exercisable on that date.