Common use of Exercisability/Vesting Clause in Contracts

Exercisability/Vesting. The Option Holder may purchase the following percentages of the shares of Common Stock set forth in the Notice on or after the vesting dates set forth below; provided that the Option Holder is employed by the Company or one of its Subsidiaries on the applicable vesting date: Six months after the Grant Date 10 % One year after the Grant Date 20 % 18 months after the Grant Date 40 % Two years after the Grant Date 60 % 30 months after the Grant Date 80 % Three years after the Grant Date 100 % provided, however, that the Option Holder may purchase 100% of the shares of Common Stock set forth in the Notice on or after the date the Option Holder’s employment is terminated by reason of his or her Retirement; provided, further, that the date of such termination is at least six (6) months after the Grant Date. The number of shares that may be purchased upon exercise of this Option shall in each case be calculated to the nearest full share.