Common use of Right to Exercise Option Clause in Contracts

Right to Exercise Option. The Optionee may purchase from the Company, in whole or in part, on and after the fifth anniversary of the date of grant, 100% of the shares covered by this option, provided that on the date of exercise, the Optionee has continuously complied with the Common Stock deposit requirements of Section 3 To the extent that the option is outstanding upon the occurrence of a Change in Control, the option, whether or not then exercisable, shall become exercisable in full; provided the Optionee has continuously complied with the Common Stock deposit requirements of Section 3. Any provision of this Agreement notwithstanding, no portion of this option shall be exercisable on or after the earlier of the eighth anniversary of the date of grant, or three years after that portion of the option has become exercisable under the acceleration provisions.

Right to Exercise Option. The Optionee may purchase from the Company, in whole or in part, on and after the fifth anniversary of the date of grant, 100% of the shares covered by this option, provided that on the date of exercise, the Optionee has continuously complied with the Common Stock deposit requirements of Section 3 3. To the extent that the option is outstanding upon the occurrence of a Change in Control, the option, whether or not then exercisable, shall become exercisable in full; provided that the Optionee has continuously complied with the Common Stock deposit requirements of Section 3. Any provision of this Agreement notwithstanding, no portion of this option shall be exercisable on or after the earlier of the eighth anniversary of the date of grant, or three years after that portion of the option has become exercisable under the acceleration provisions.