Common use of Option Exercisability Clause in Contracts

Option Exercisability. You will have one year following the Termination Date to exercise your Company stock option grant nos. 00000822 (dated July 23, 1999), NQ000822 (dated July 23, 1999), 00002008 (dated May 17, 2001), NQ002008 (dated May 17, 2001) and any Company stock options granted to you after the Original Effective Date, but in each case only to the extent that such option is vested and unexpired on the Termination Date. Moreover, in no event may any such option be exercised after the original maximum term of the option. Any options that are unvested on the Termination Date will be forfeited on that date.

Appears in 4 contracts

Samples: Amended Severance Agreement (Polycom Inc), Amended Severance Agreement (Polycom Inc), Amended Severance Agreement (Polycom Inc)

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Option Exercisability. You will have one year following the Termination Date to exercise your Company stock option grant nos. 00000822 (dated July 23, 1999), NQ000822 (dated July 23, 1999), 00002008 (dated May 17, 2001), NQ002008 (dated May 17, 2001) and any Company stock options granted to you after the Original Effective Date, but in each case only to the extent that such option is vested and unexpired on the Termination Date. Moreover, in no event may any such option be exercised after the original maximum term of the option. Any options that are unvested on the Termination Date will be forfeited on that date.

Appears in 1 contract

Samples: Severance Agreement (Polycom Inc)

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