Common use of Installment Exercise Clause in Contracts

Installment Exercise. Subject to such further limitations as are provided herein, the Grantee having the right hereunder to purchase from the Company the following number of "A" Option Shares upon exercise of the "A" Option, on and after the following dates, and so long as the Employer shall have attained the "A" Option Vesting Schedule EBIT Goals established by the Committee with respect to the relevant fiscal years noted below: (a) on and after September 30, ____, up to 25% of the total number of "A" Option Shares if the Employer has attained its Goal during the fiscal year ending June 30, ____; (b) on and after September 30, 20__, up to an additional 35% of the total number of "A" Option Shares if the Employer has attained its Goal during the fiscal year ending June 30, 20___; (c) on and after September 30, 20__, up to an additional 40% of the total number of "A" Option Shares if the Employer has attained its Goal during the fiscal year ending June 30, 20___; (d) Should any of the Goals not be attained by the Employer during any fiscal year, then any unearned "A" Options may become exercisable on and after the sixth anniversary of the Date of Grant; (e) Any unearned "A" Options remaining after the sixth anniversary of the Date of Grant shall become immediately exercisable if the Grantee has been continuously employed by the Employer, the Company and/or any affiliate of the Company from the Date of Grant through such date; (f) The Committee reserves the right to revise the Goals at any time.