Common use of Subsequent Installments Clause in Contracts

Subsequent Installments. Upon the _______________ (_____) day of each ________________________________ following the Commencement Date, and continuing thereafter on the _________________ (______) day of each subsequent __________________________, the Employee may exercise this Option for up to an additional_____ percent (___) of the shares covered hereby (rounded up to the nearest whole number of shares), so that this Option shall become fully exercisable as of __________________. In no event shall the Option be exercisable for more shares than the number of shares set forth in Section 1.

Subsequent Installments. Upon the _______________ (_____) first day of each _____________, _____________, _____________ and _____________ following the Commencement Date, and continuing thereafter on the _____first day of each subsequent calendar quarter, the Director may exercise this Option for up to an additional ____________ (______) day of each subsequent __________________________, the Employee may exercise this Option for up to an additional_____ percent (___%) of the shares covered hereby (rounded up to the nearest whole number of shares), so that this Option shall become fully exercisable as of ________________, 19__. In Subject to Section 7, in no event shall the Option be exercisable for more shares than the number of shares set forth in Section 1.