The Exercise Date Sample Clauses

The Exercise Date. 3.1. The Employee will be entitled to exercise the Options, in whole or in part, at the exercise price, at any time after the vesting date of the relevant portion, until the option Expiration Date, as defined in Section 3.2 below, subject to the conditions for entitlement to options and the other provisions of this Annex. 3.2. The Employee will be entitled to exercise the options, subject to Section 3.1 above, until the sixth year from the date of commencement of his employment at the Company, on 1st of January, 2015 (the "Expiration Date"). Options not exercised until the end of this period, will be automatically nullified. 3.3. Notwithstanding the aforesaid, should the Employee's employment be terminated under the circumstances specified in one of the events set forth in Section 7.4 of the Employment Agreement, the options shall expire, whether vested or not, immediately upon the notice of termination of employment and will not be exercisable.