Common use of Partial Exercises Clause in Contracts

Partial Exercises. If the vested Options are exercised in part, the Company will, at the time of delivery of the applicable certificates for Shares (unless the Options have then expired), issue and deliver to the Participant or the Person designated by the Participant in the applicable Notice of Exercise, a new Agreement evidencing the right of the Participant or such other Person to purchase the aggregate number of Shares for which Options have not been exercised and otherwise in form and substance identical to this Agreement, upon which this Agreement will be canceled.