Common use of When Exercisable Clause in Contracts

When Exercisable. 3.1 The aggregate number of shares of Common Stock of the Company optioned by this Agreement (the "Optioned Shares") shall vest in the Grantee as follows: (a) one-quarter of the Option on the first anniversary of the day of the grant, being June 7, 1997; (b) one-quarter of the Option on the second anniversary of the day of the grant, being June 7, 1998; (c) one-quarter of the Option on the third anniversary of the day of the grant, being June 7, 1999; and (d) one-quarter of the Option on the fourth anniversary of the day of the grant, being June 7, 2000; and, except as provided by Sections 3.6 and 6.3 hereof, the Grantee shall only be entitled to exercise this Option, in whole or in part, in the amounts set out above and from and after the dates so specified.

When Exercisable. 3.1 The aggregate number of shares of Common Stock of the Company optioned by this Agreement (the "Optioned Shares") shall vest in the Grantee as follows: (a) one-quarter of the Option on the first anniversary of the day of the grant, being June 723, 19972000; (b) one-quarter of the Option on the second anniversary of the day of the grant, being June 723, 19982001; (c) one-quarter of the Option on the third anniversary of the day of the grant, being June 723, 19992002; and (d) one-quarter of the Option on the fourth anniversary of the day of the grant, being June 723, 20002003; and, except as provided by Sections 3.6 and 6.3 hereof, the Grantee shall only be entitled to exercise this Option, in whole or in part, in the amounts set out above and from and after the dates so specified.

When Exercisable. 3.1 The aggregate number of shares of Common Stock of the Company optioned by this Agreement (the "Optioned Shares") shall vest in the Grantee as follows: (a) one-quarter of the Option on the first anniversary of the day of the grant, being June March 7, 19972001; (b) one-quarter of the Option on the second anniversary of the day of the grant, being June March 7, 1998;2002; 2 (c) one-quarter of the Option on the third anniversary of the day of the grant, being June March 7, 19992003; and (d) one-quarter of the Option on the fourth anniversary of the day of the grant, being June March 7, 20002004; and, except as provided by Sections 3.6 and 6.3 hereof, the Grantee shall only be entitled to exercise this Option, in whole or in part, in the amounts set out above and from and after the dates so specified.