Common use of Timing of Exercise Clause in Contracts

Timing of Exercise. Except as otherwise provided herein, the term of the Option (the “Option Term”) shall commence on the Grant Date and terminate on the date of the first to occur of the following events: (a) If the Option is designated as an Incentive Stock Option and the Participant, at the time the Option was granted, was a Ten Percent Holder, the expiration of five (5) years from the Date of Grant; (b) The 10th anniversary of the Date of Grant; (c) One year following the Participant’s termination of Continuous Service Status with the Company and its Affiliates as a result of the termination of the service of a Participant by the Company or any of its Affiliates on account of death or Disability; (d) Thirty (30) days following the Participant’s termination of service of a Participant with the Company and its Affiliates as a result of the termination of the service of a Participant by the Participant other than for Cause; and (e) The close of business on the last business day immediately prior to the date of the Participant’s termination of service by the Company for Cause or for any reason other than those reasons set forth above. Upon the expiration of the Option Period, the Options, and all unexercised rights granted to Participant hereunder shall terminate, and thereafter be null and void.