Common use of Limitations on Exercise of Options Clause in Contracts

Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to 25% of the shares on April 26, 2005 so long as the Participant continues in the Service of the Company from the Effective Date through April 26, 2005, and with respect to 2.083% of the shares on the last day of each succeeding calendar month thereafter so long as the Participant continues in the Service of the Company; provided, however, the Participant may not exercise any Option for fractional shares of Common Stock. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.

Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to 25% of the shares on April 26October 18, 2005 so long as the Participant continues in the Service of the Company from the Effective Date through April 26October 18, 2005, and with respect to 2.083% of the shares on the last day of each succeeding calendar month thereafter so long as the Participant continues in the Service of the Company; provided, however, the Participant may not exercise any Option for fractional shares of Common Stock. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.