Common use of Exercisability of Options Clause in Contracts

Exercisability of Options. Subject to the provisions of Articles VII and X, an Option becomes exercisable six (6) months after its Date of Grant. However, an Option granted to a Participant shall be immediately exercisable if the Participant's membership on the Board terminates as a result of the Participant's retirement in accordance with Company policy, death or permanent and total disability (as such term is defined in Section 22(e)(3) of the Code). An Option shall be forfeited if, as of the termination of the Participant's membership on the Board, the Option is not then exercisable and such termination occurs for any reason other than the Participant's retirement in accordance with Company policy, death or disability (as defined above). Options that are exercisable or that become exercisable upon the Participant's termination of membership on the Board will remain exercisable until the tenth anniversary of the Option's Date of Grant. An Option may be exercised with respect to any number of whole shares less than the full number for which the Option could be exercised. A partial exercise of an Option shall not affect the right to exercise the Option from time to time in accordance with this Plan and the applicable Agreement with respect to the shares remaining subject to the Option.

Exercisability of Options. Subject to the provisions of Articles VII and X, an Option becomes exercisable six (6) months after its Date of Grant. However, an Option granted to a Participant shall be immediately exercisable if the Participant's membership on the Board terminates as a result of the Participant's retirement in accordance with Company policy, death or permanent and total disability (as such term is defined in Section 22(e)(3) of the Code). An Option shall be forfeited if, as of the termination of the Participant's membership on the Board, the Option is not then exercisable and such termination occurs for any reason other than the Participant's retirement in accordance with Company policy, death or disability (as defined above). Options that are exercisable or that become exercisable upon the Participant's termination of membership on the Board will remain exercisable until the tenth anniversary of the Option's Date of Grant. An Option may be exercised with respect to any number of whole shares less than the full number for which the Option could be exercised. A partial exercise of an Option shall not affect the right to exercise the Option from time to time in accordance with this Plan and the applicable Agreement with respect to the shares remaining subject to the Optionoption.

Exercisability of Options. Subject to the provisions of Section 8.04 and Articles VII and XX hereof, an Option becomes exercisable six (6) months after on April 30 in the calendar year following its Date of Grant. However, an Option granted to a Participant shall be immediately exercisable if the Participant's membership on the Board terminates as a result of the Participant's retirement in accordance with Company policythe Company's, or any of its subsidiaries', policies, death or permanent and total disability (as such term is defined in Section 22(e)(3) of the Code). An Option shall be forfeited if, as of the termination of the Participant's membership on the Board, the Option is not then exercisable and such termination occurs for any reason other than the Participant's retirement in accordance with Company policyCompany's, or any of its subsidiaries' policies, death or disability (as defined above). Options that are exercisable or that become exercisable upon the Participant's termination of membership on the Board will remain exercisable until the tenth anniversary of the Option's Date of Grant. An Option may be exercised with respect to any number of whole shares less than the full number for which the Option could be exercised. A partial exercise of an Option shall not affect the right to exercise the Option from time to time in accordance with this Plan and the applicable Agreement with respect to the shares remaining subject to the Option.

Exercisability of Options. Subject to the provisions of Section 8.04 and Articles VII and XX hereof, an Option becomes exercisable six (6) months after on April 30 in the calendar year following its Date of Grant. However, an Option granted to a Participant shall be immediately exercisable if the Participant's ’s membership on the Board terminates as a result of the Participant's ’s retirement in accordance with Company policythe Company’s, or any of its subsidiaries’, policies, death or permanent and total disability (as such term is defined in Section 22(e)(3) of the Code)) or a Change in Control. An Option shall be forfeited if, as of the termination of the Participant's ’s membership on the Board, the Option is not then exercisable and such termination occurs for any reason other than the Participant's ’s retirement in accordance with Company policyCompany’s, or any of its subsidiaries’ policies, death or disability (as defined above)) or a Change in Control. Options that are exercisable or that become exercisable upon the Participant's ’s termination of membership on the Board will remain exercisable until the tenth anniversary of the Option's ’s Date of Grant. An Option may be exercised with respect to any number of whole shares less than the full number for which the Option could be exercised. A partial exercise of an Option shall not affect the right to exercise the Option from time to time in accordance with this Plan and the applicable Agreement with respect to the shares remaining subject to the Option.

Exercisability of Options. Subject to the provisions of Articles VII and X, an Option becomes exercisable six (6) months after its Date of Grant. However, an Option granted to a Participant shall be immediately exercisable if the Participant's membership on the Board terminates as a result of the Participant's retirement in accordance with Company policy, death or permanent and total disability (as such term is defined in Section 22(e)(3) of the Code). An Option shall be forfeited if, as of the termination thetermination of the Participant's Participants membership on the Board, the Option is not then exercisable and such termination occurs for any reason other than the Participant's retirement in accordance with Company policy, death or disability (as defined above). Options that are exercisable or that become exercisable upon the Participant's termination of membership on the Board will remain exercisable until the tenth anniversary of the Option's Date of Grant. An Option may be exercised with respect to any number of whole shares less than the full number for which the Option could be exercised. A partial exercise of an Option shall not affect the right to exercise the Option from time to time in accordance with this Plan and the applicable Agreement with respect to the shares remaining subject to the Option.