Common use of Period of Option and Conditions of Exercise Clause in Contracts

Period of Option and Conditions of Exercise. (a) Unless the Option is previously terminated pursuant to this Agreement or the Plan, the Option shall terminate on the tenth anniversary of the Date of Grant (the “Expiration Date”). Upon the termination of the Option, all rights of the Optionee hereunder shall cease. (b) The Option shall become exercisable as set forth in this Section 2(b) and on Exhibit A. (i) The Company’s total shareholder return (as defined in more detail on Exhibit A, “TSR”) over the period beginning on and ending on (the “Performance Period”), as calculated by comparison to the indices stipulated on Exhibit A to this Agreement (and using the methodology set forth on such Exhibit A), shall be compared to the threshold, target and maximum TSR hurdles set forth on Exhibit A to determine the “Vesting Portion” (as defined on Exhibit A) of the Option as a percentage of the Target Option Shares. Such calculations shall be determined by the Committee no later than (the date of such determination, the “Determination Date”). Restrictions with respect to 50% of the related Vesting Portion of the Option set forth on Exhibit A shall lapse as of the later of the Determination Date and the third anniversary of the Date of Grant (the “Vesting Date”), with the restrictions on the remaining 50% of such Vesting Portion lapsing on the fourth anniversary of the Date of Grant (the “Anniversary Date”). (ii) Except as set forth in Section 4, each such lapse of restrictions shall occur only if the Recipient has remained employed by the Company through the Vesting Date or the Anniversary Date, as the case may be (the “Restricted Period”). The portion of the Option that does not vest as of the Vesting Date (or the Anniversary Date, as the case may be) based on TSR performance, shall, as of the Vesting Date (or the Anniversary Date, as the case may be), be forfeited to the Company without payment of any consideration by the Company, and neither the Recipient nor any of his or her successors, heirs, assigns or personal representatives shall thereafter have any further rights or interests in such Option. (iii) All determinations with respect to the calculations pursuant to this Agreement shall be made in the sole discretion of the Committee.

Period of Option and Conditions of Exercise. (a) Unless the Option is previously terminated pursuant to this Agreement or the Plan, the Option shall terminate on the tenth anniversary of the Date of Grant (the “Expiration Date”). Upon the termination of the Option, all rights of the Optionee hereunder shall cease. (b) The Option shall become exercisable as set forth in this Section 2(b) and on Exhibit A. (i) The Company’s total shareholder return (as defined in more detail on Exhibit A, “TSR”) over the period beginning on [______________] and ending on [______________] (the “Performance Period”), as calculated by comparison to the indices stipulated on Exhibit A to this Agreement (and using the methodology set forth on such Exhibit A), shall be compared to the threshold, target and maximum TSR hurdles set forth on Exhibit A to determine the “Vesting Portion” (as defined on Exhibit A) of the Option as a percentage of the Target Option Shares. Such calculations shall be determined by the Committee no later than [______________] (the date of such determination, the “Determination Date”). Restrictions with respect to 50100% of the related Vesting Portion of the Option set forth on Exhibit A shall lapse as of the later of the Determination Date and the third anniversary of the Date of Grant [______________] (the “Vesting Date”), with the restrictions on the remaining 50% of such Vesting Portion lapsing on the fourth anniversary of the Date of Grant (the “Anniversary Date”). (ii) Except as set forth in Section 4, each such lapse of restrictions shall occur only if the Recipient has remained employed by the Company through the Vesting Date or the Anniversary Date, as the case may be (the “Restricted Period”). The portion of the Option that does not vest as of the Vesting Date (or the Anniversary Date, as the case may be) based on TSR performance, shall, as of the Vesting Date (or the Anniversary Date, as the case may be), be forfeited to the Company without payment of any consideration by the Company, and neither the Recipient nor any of his or her successors, heirs, assigns or personal representatives shall thereafter have any further rights or interests in such Option. (iii) All determinations with respect to the calculations pursuant to this Agreement shall be made in the sole discretion of the Committee.

Period of Option and Conditions of Exercise. (a) Unless the Option is previously terminated pursuant to this Agreement or the Plan, the Option shall terminate on the tenth anniversary of the Date of Grant (the “Expiration Date”). Upon the termination of the Option, all rights of the Optionee hereunder shall cease. (b) The Option shall become exercisable as set forth in this Section 2(b) and on Exhibit A. (i) The Company’s total shareholder return (as defined in more detail on Exhibit A, “TSR”) over the period beginning on ______________ and ending on ______________ (the “Performance Period”), as calculated by comparison to the indices stipulated on Exhibit A to this Agreement (and using the methodology set forth on such Exhibit A), shall be compared to the threshold, target and maximum TSR hurdles set forth on Exhibit A to determine the “Vesting Portion” (as defined on Exhibit A) of the Option as a percentage of the Target Option Shares. Such calculations shall be determined by the Committee no later than ______________ (the date of such determination, the “Determination Date”). Restrictions with respect to 50% of the related Vesting Portion of the Option set forth on Exhibit A shall lapse as of the later of the Determination Date and the third anniversary of the Date of Grant (the “Vesting Date”), with the restrictions on the remaining 50% of such Vesting Portion lapsing on the fourth anniversary of the Date of Grant (the “Anniversary Date”). (ii) Except as set forth in Section 4, each such lapse of restrictions shall occur only if the Recipient has remained employed by the Company through the Vesting Date or the Anniversary Date, as the case may be (the “Restricted Period”). The portion of the Option that does not vest as of the Vesting Date (or the Anniversary Date, as the case may be) based on TSR performance, shall, as of the Vesting Date (or the Anniversary Date, as the case may be), be forfeited to the Company without payment of any consideration by the Company, and neither the Recipient nor any of his or her successors, heirs, assigns or personal representatives shall thereafter have any further rights or interests in such Option. (iii) All determinations with respect to the calculations pursuant to this Agreement shall be made in the sole discretion of the Committee.

Period of Option and Conditions of Exercise. (a) Unless the Option is previously terminated pursuant to this Agreement or the Plan, the Option shall terminate on the tenth anniversary of the Date of Grant (the “Expiration Date”). Upon the termination of the Option, all rights of the Optionee hereunder shall cease. (b) The Option shall become exercisable as set forth in this Section 2(b) and on Exhibit A. (i) The Company’s total shareholder return (as defined in more detail on Exhibit A, “TSR”) over the period beginning on [______________] and ending on [______________] (the “Performance Period”), as calculated by comparison to the indices stipulated on Exhibit A to this Agreement (and using the methodology set forth on such Exhibit A), shall be compared to the threshold, target and maximum TSR hurdles set forth on Exhibit A to determine the “Vesting Portion” (as defined on Exhibit A) of the Option as a percentage of the Target Option Shares. Such calculations shall be determined by the Committee no later than [______________] (the date of such determination, the “Determination Date”). Restrictions with respect to 50% of the related Vesting Portion of the Option set forth on Exhibit A shall lapse as of the later of the Determination Date and the third anniversary of the Date of Grant [______________] (the “First Vesting Date”), with the restrictions on the remaining 50% of such Vesting Portion lapsing on the fourth anniversary of the Date of Grant [______________] (the “Anniversary Second Vesting Date”). (ii) Except as set forth in Section 4, each such lapse of restrictions shall occur only if the Recipient has remained employed by the Company through the First Vesting Date or the Anniversary Second Vesting Date, as the case may be (the “Restricted Period”). The portion of the Option that does not vest as of the First Vesting Date (or the Anniversary Second Vesting Date, as the case may be) based on TSR performance, shall, as of the First Vesting Date (or the Anniversary Second Vesting Date, as the case may be), be forfeited to the Company without payment of any consideration by the Company, and neither the Recipient nor any of his or her successors, heirs, assigns or personal representatives shall thereafter have any further rights or interests in such Option. (iii) All determinations with respect to the calculations pursuant to this Agreement shall be made in the sole discretion of the Committee.