Rules and Procedures for Exercise Sample Clauses

Rules and Procedures for Exercise. Any exercise of an Option must comply with the terms and conditions respecting exercise set forth in the Plan. Optionee must exercise Class A Common Options to acquire nine shares of Class A Common for every one share of Class L Common acquired through the exercise of Class L Common Options and Class L Common Options to acquire one share of Class L Common for every nine shares of Class A Common acquired through the exercise of Class A Common Options.

Rules and Procedures for Exercise. Any exercise of an Option must comply with the terms and conditions respecting exercise set forth in the Plan, this Agreement and any forms and other documents established by the Committee for use in exercising Options. Option Price Fair Market Value on date of grant. Option Type Nonqualified (non-statutory) stock option. Expiration Date 10 year term from date of grant, unless otherwise specified. No vesting or timing of exercise provision can extend the term. Vesting 1/3, 1/3, 1/3 on December 31st of , and , subject to continuous service, except as noted for special circumstances herein or as otherwise provided by the Employment Agreement. Unvested options will be forfeited. Exercise Any time after vesting during the term. Employment Agreement Controls For the avoidance of doubt, in the event of a conflict between the Employment Agreement and this Agreement (including any schedules thereto) related to vesting or exercisability of an Award on termination of employment, Change of Control or other event, the agreement that provides a more favorable outcome to the Participant in connection with such termination of employment, Change of Control or other event, shall control. Death Immediate full vesting of all options. Options expire and must be exercised within one year of death, or if earlier, the expiration of the original term. Disability Immediate full vesting of all options. Options expire and must be exercised within one year of Disability termination, or if earlier, the expiration of the original term. Retirement Vesting continues over the normal period specified in the grant. Options expire and must be exercised within three years of Retirement, or if earlier, the expiration of the original term. Good Reason and other non-Cause terminations Vesting ends with effective date of termination. Options expire and must be exercised within 90 days of termination, or if earlier, the expiration of the original term. Termination for Cause Vesting ends with effective date of termination. Options expire and must be exercised within 5 days of termination, or if earlier, the expiration of the original term.