Common use of Right to Exercise Option Clause in Contracts

Right to Exercise Option. Unless otherwise indicated in this Agreement, you may purchase from the Corporation on and after the first anniversary of the date of grant, one-third (1/3rd) of the shares covered by the Option, and on each succeeding one year anniversary thereof may exercise an additional one-third (1/3rd) of the shares covered by the Option, and on the third anniversary of the date of grant the Option shall be fully exercisable. To the extent not exercised, installments shall accumulate and you may exercise them in whole or in part in any subsequent period.

Right to Exercise Option. Unless otherwise indicated in this Agreement, you The Optionee may purchase from the Corporation Company on and after the first (1st) anniversary of the date of grant, one-third (1/3rd) 25% of the shares covered by the Optionthis option, and on each succeeding one year anniversary thereof thereof, may exercise an additional one-third (1/3rd) 25% of the shares covered by the Optionoption, and so that on the third fourth (4th) anniversary of the date of grant the Option this option shall be fully exercisable. To Notwithstanding any provision of this Agreement, no portion of this option shall be exercisable on or after the extent not exercised, installments shall accumulate and you may exercise them in whole or in part in any subsequent periodtenth (10th) anniversary of the date of grant.