Common use of TERM AND EXERCISE OF OPTIONS Clause in Contracts

TERM AND EXERCISE OF OPTIONS. (a) The Options shall be valid for a period of ( ) years from the Date of Grant, subject to earlier termination as provided in Sections 5 and 6 hereof (the “Option Term”). (b) The Options may be exercised, in whole or in part, at any time during the Option Term, in accordance with the vesting schedule set out in (c) below. Subject to such schedule and to other provisions of this Agreement, including without limitations Sections 5 and 6 hereof, any Options which are vested and unexercised shall remain outstanding during the Option Term and shall be exercisable at any time during such term. (c) The Optionee’s rights to purchase the Option Shares shall become exercisable over a period of four years, commencing on (the “Commencement Date”), in the following manner and in accordance with Exhibit A hereof (Exhibit A shall govern in any event of discrepancy or inconsistency herewith): the Options to purchase 25% of the Option Shares shall become exercisable upon the lapse of the first anniversary of the Commencement Date; the Options to purchase the remaining Option Shares shall become exercisable in thirty six (36) equal monthly installments (i.e., a total vesting period of four years from the Commencement Date). (d) Except as provided in Section 6, the Options may not be exercised unless, at the time the Options are exercised and at all times from the Commencement Date, the Optionee shall then be and shall have been an advisor or consultant of the Company or of any of its subsidiaries.

TERM AND EXERCISE OF OPTIONS. (a) The Options shall be valid for a period of ( ) years from the Date of Grant, subject to earlier termination as provided in Sections 5 and 6 hereof (the “Option Term”). (b) The Options may be exercised, in whole or in part, at any time during the Option Term, in accordance with the vesting schedule set out in (c) below. Subject to such schedule and to other provisions of this Agreement, including without limitations Sections 5 and 6 hereof, any Options which are vested and unexercised shall remain outstanding during the Option Term and shall be exercisable at any time during such term. (c) The Optionee’s rights to purchase the Option Shares shall become exercisable over a period of four years, commencing on (the “Commencement Date”), in the following manner and in accordance with Exhibit A hereof (Exhibit A shall govern in any event of discrepancy or inconsistency herewith): the Options to purchase 25% of the Option Shares shall become exercisable upon the lapse of the first anniversary of the Commencement Date; the Options to purchase the remaining Option Shares shall become exercisable in thirty six (36) equal monthly installments (i.e., a total vesting period of four years from the Commencement Date). (d) Except as provided in Section 6, the Options may not be exercised unless, at the time the Options are exercised and at all times from the Commencement Date, the Optionee shall then be and shall have been an advisor or consultant employee of the Company or of any of its subsidiaries.

TERM AND EXERCISE OF OPTIONS. (a) The Options shall be valid for a period of ( ) years from the Date of Grant, subject to earlier termination as provided in Sections 5 6 and 6 7 hereof (the “Option Term”). (b) The Options may be exercised, in whole or in part, at any time during the Option Term, in accordance with the vesting schedule set out in (c) below. Subject to such schedule and to other provisions of this Agreement, including without limitations limitation Sections 5 6 and 6 7 hereof, any Options which are vested and unexercised shall remain outstanding during the Option Term and shall be exercisable at any time during such term. (c) The Optionee’s rights to purchase the Option Shares shall become exercisable over a period of four years, commencing on (the “Commencement Date”), in the following manner and in accordance with Exhibit A hereof (Exhibit A shall govern in any event of discrepancy or inconsistency herewith): the Options to purchase 25% of the Option Shares shall become exercisable upon the lapse of the first anniversary of the Commencement Date; the Options to purchase the remaining Option Shares shall become exercisable in thirty six (36) equal monthly installments (i.e., a total vesting period of four years from the Commencement Date). (d) Except as provided in Section 67, the Options may not be exercised unless, at the time the Options are exercised and at all times from the Commencement Date, the Optionee shall then be and shall have been an advisor or consultant employee of the Company or of any of its subsidiaries.