Common use of Vesting and Term of Option Clause in Contracts

Vesting and Term of Option. Your Option will vest over three years, as long as you remain continuously employed by the Company or an Affiliate from the Grant Date until each vesting date or if you die or Retire before any such date. This means that you may exercise the first one-third of the shares subject to this Option on or after the first anniversary of the Grant Date, the second one-third of these shares on or after the second anniversary of the Grant Date, and the remaining one-third of these shares on or after the third anniversary of the Grant Date, assuming continued employment. However, you will be required to accept this Option as well as this Agreement before being permitted to exercise the Option. This Option will expire on and may not be exercised after the earlier of February 8, 2019 or the 90th day following the end of your 3M employment, except in cases of Retirement, death, disability, Disqualifying Termination or a termination in connection with which you execute a written release of employment-related claims in favor of the Company that provides (with the approval of the Company) for the nonforfeiture of stock options (but only to the extent this Option has vested prior to the date of the termination of your employment).

Vesting and Term of Option. Your Option will vest over three years, as long as you remain continuously employed by the Company or an Affiliate from the Grant Date until each vesting date or if you die or Retire before any such date. This means that you may exercise the first one-third of the shares subject to this Option on or after the first anniversary of the Grant Date, the second one-third of these shares on or after the second anniversary of the Grant Date, and the remaining one-third of these shares on or after the third anniversary of the Grant Date, assuming continued employment. However, you will be required to accept this Option as well as this Agreement before being permitted to exercise the Option. This Option will expire on and may not be exercised after the earlier of February 8, 2019 the tenth anniversary of the Grant Date or the 90th day following the end of your 3M employment, except in cases of Retirement, death, disability, Disqualifying Termination or a termination in connection with which you execute a written release of employment-related claims in favor of the Company that provides (with the approval of the Company) for the nonforfeiture of stock options (but only to the extent this Option has vested prior to the date of the termination of your employment).