Common use of Installment Exercise Clause in Contracts

Installment Exercise. Subject to such further limitations as are provided herein, the Option shall become exercisable in __________ installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion as determined by the Program Administrators: ____________________________

Installment Exercise. Subject to such further limitations as are provided herein[, and except as provided in Paragraph 4 below,] the Option shall become vested and exercisable in __________ installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion as determined fashion: [To be set by the Program Administrators: ____________________________Committee]

Installment Exercise. Subject to such further limitations as are provided herein, the Option shall become exercisable in __________ installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion as determined by the Program Administrators: ____________________________