Common use of Exercise and Vesting Schedule Clause in Contracts

Exercise and Vesting Schedule. So long as Optionee is a Service Provider, this Option shall become exercisable in accordance with the following vesting schedule: Subject to the limitation on the exercisability of the Option set out in Part II, Section 3(i) of this Option Agreement, fifty percent (50%) of the Shares subject to this Option will vest and become exercisable on the one year anniversary of the Vesting Commencement Date, twenty five percent (25%) of the Shares subject to this Option will vest and become exercisable on the date eighteen (18) months following the Vesting Commencement Date and the remaining twenty-five percent (25%) of the Shares subject to this Option will vest and become exercisable in a series of six (6) successive equal monthly installments measured from the date eighteen (18) months following the Vesting Commencement Date, subject to Optionee continuing to be a Service Provider through each such date. In no event will the Option vest and become exercisable for any additional Shares subject to the Option after Optionee’s cessation as a Service Provider. Should Optionee request a reduction to his or her work commitment to less than thirty (30) hours per week, then the Administrator will have the right, exercisable in connection with the approval of that reduction, to extend the period over which the Option will thereafter vest and become exercisable for the Option Shares during the remainder of the term of the Option. The decision whether or not to approve Optionee’s request for such reduced work commitment will be at the sole discretion of the Administrator. In no event will any extension of the Exercise and Vesting Schedule for the Shares subject to the Option result in the extension of the Term/Expiration Date of the Option. Notwithstanding the foregoing Vesting Schedule, in the event the Company, Cisco or any of their respective Subsidiaries terminates Optionee’s employment with any such entities without “Cause” (as defined below), Optionee’s employment is terminated due to Optionee’s death, or Optionee resigns from any such employment for “Good Reason” (as defined below), 100% of the Shares subject to this Option will immediately vest and become exercisable.

Exercise and Vesting Schedule. So long as Optionee is a Service Provider, this Option shall will become exercisable in accordance with the following vesting schedule: Subject to the limitation on the exercisability of the Option set out in Part II, Section 3(i) of this Option Agreement, fifty percent (50%) of the Shares subject to this Option will vest and become exercisable on the one year anniversary of the Vesting Commencement Date, twenty five percent (25%) of the Shares subject to this Option will vest and become exercisable on the date eighteen (18) months following the Vesting Commencement Date and the remaining twenty-five percent (25%) of the Shares subject to this Option will vest and become exercisable in a series of six twelve (612) successive equal monthly installments measured from the date eighteen (18) months following the Vesting Commencement Date, subject to Optionee continuing to be a Service Provider through each such date. In no event will the Option vest and become exercisable for any additional Shares subject to the Option after Optionee’s cessation as a Service Provider. Should Optionee request a reduction to his or her work commitment to less than thirty (30) hours per week, then the Administrator will have the right, exercisable in connection with the approval of that reduction, to extend the period over which the Option will thereafter vest and become exercisable for the Option Shares during the remainder of the term of the Option. The decision whether or not to approve Optionee’s request for such reduced work commitment will be at the sole discretion of the Administrator. In no event will any extension of the Exercise and Vesting Schedule for the Shares subject to the Option result in the extension of the Term/Expiration Date of the Option. Notwithstanding the foregoing Vesting Schedule, in the event the Company, Cisco or any of their respective Subsidiaries terminates Optionee’s employment with any such entities without “Cause” (as defined below), Optionee’s employment is terminated due to Optionee’s death, or Optionee resigns from any such employment for “Good Reason” (as defined below), 100% of the Shares subject to this Option will immediately vest and become exercisable.