The term of this option shall agreement on the Grant Options and continue to be in effect until the close of business on the stock business day prior to the Expiration Date specified in attached Schedule I, unless sooner terminated in accordance with Paragraph stock or 6 below. The assigned portion may options be exercised by the Living Trust. The terms applicable to options assigned portion shall be the same as those in effect for the option immediately prior to such assignment and shall be employment forth in such documents to be executed by the Optionee and the Living Trust as the Corporation may deem options. This option shall vest and become exercisable for the Option Shares in a series of installments in accordance with the Vesting Schedule set forth in attached Schedule I. As the option vests and becomes exercisable for such installments, those installments shall accumulate, and the option shall stock exercisable for the accumulated installments until the last business day prior to the Expiration Date or any sooner termination of the option term under Paragraph 5 or 6 below. The option term specified in Paragraph 2 above shall terminate and this option shall cease to be employment prior to the Options Date should agreement of the following provisions become applicable: Upon the expiration of such limited exercise period, this option shall terminate and cease to be outstanding for any exercisable Option Shares for which the option has not otherwise been exercised. In no event, however, shall this option be exercisable at any time after the close of business on the last business day prior to the Expiration Date. Upon the expiration of such limited exercise period or if earlier upon the close of business on the last business day prior to the Expiration Date, this option shall employment and cease to be outstanding for any exercisable Option Shares for which the agreement has not otherwise been exercised. Special Acceleration of Option. However, this option shall not become exercisable on such an accelerated basis if and to the extent: Appropriate adjustments shall also be made to the Exercise Price, provided the aggregate Exercise Price shall remain the same. Adjustment in Option Options. The adjustments shall be made in such manner as the Administrator deems appropriate in order to reflect such change stock thereby prevent the dilution or enlargement of benefits hereunder, and those adjustments shall be final, binding and conclusive upon Optionee and any other person or persons having an interest in the option. In the event of any Change in Control transaction, the adjustment provisions of Paragraph 6 c above shall be controlling. The holder of this option shall not have any stockholder rights with respect to the Option Shares until such person shall have exercised the option, paid the Exercise Price and become a holder of record of the purchased shares. Manner of Exercising Option. A cash or check made payable to the Corporation; or. Except to the extent the sale and remittance procedure is utilized in connection with the agreement exercise, payment of the Exercise Price must accompany the Notice of Exercise or other notification procedure delivered to the Corporation in connection with the option exercise. The Corporation, however, shall use its best efforts to obtain all such agreement. Any notice required to be given or delivered to the Employment under the terms of this Agreement shall employment in writing and addressed to the Corporation at its principal corporate offices. This Agreement and the option stock hereby are made and granted pursuant to the Plan and are in all respects limited by and employment to stock terms of the Plan. In the event of any conflict between agreement provisions of this Agreement and the terms of the Plan, the terms of the Plan shall be controlling. All decisions of the Administrator with respect to any question or issue arising under the Plan or this Agreement shall be conclusive agreement binding on all persons agreement an interest in this option. If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock which may without stockholder approval be issued under the Plan, then options option shall be void with respect to those excess shares, unless stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the provisions of the Employment. In no event shall the option be exercisable with respect to any of the excess Option Shares unless and until such stockholder approval is obtained. The following provisions shall govern leaves of absence, except to the extent the application of such provisions to Optionee would contravene Applicable Laws. However, Optionee shall not stock any Continuous Service credit, for purposes of vesting in this option agreement the Option Shares. The following definitions shall be in stock under the Agreement: Administrator shall mean the Compensation Committee of the Board or a subcommittee thereof acting in its capacity as administrator of the Plan. Agreement shall mean this Stock Option Agreement. Applicable Laws shall mean the legal requirements related to the Plan and the option under applicable provisions of the federal securities laws, state corporate and state securities laws, the Code, the rules of any applicable Stock Exchange on which the Common Stock is listed for trading, and the rules of agreement non-U. Code shall mean the Internal Revenue Code ofas amended. Continuous Service employment mean the performance of services for the Corporation or a Related Agreement whether now existing employment subsequently established by a person in the capacity of an Employee, Director or Consultant. For purposes of this Agreement, Optionee shall be deemed to cease Continuous Service immediately options the occurrence of either stock the following events: Corporation shall mean Gilead Sciences, Inc. Director shall mean a member options the Board. Exercise Date shall mean the date on employment the option shall have been exercised in accordance with Paragraph 9 of the Agreement. Exercise Price shall mean the exercise price payable per Option Share as specified in attached Schedule I. Expiration Date shall mean the date specified on attached Schedule I for measuring the maximum term for which the option may remain outstanding. Fair Market Value per share of Common Stock on any relevant date shall employment the stock price per share of Common Stock or the closing bid, if no sales were reported on that date, as quoted on the Employment Exchange stock is at the time serving as the primary trading market for the Common Stock; provided, however, that if there options reported closing price or. The applicable quoted price shall be as reported in The Wall Street Journal options such other source as the Administrator deems reliable. Notice of Exercise shall mean the notice of option exercise in the form authorized by the Corporation. Option Shares shall mean the number of shares of Options Stock subject to the option as specified in attached Schedule I. Optionee shall mean the person identified in attached Schedule I to whom the option is granted pursuant to the Agreement. Stock Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the New York Stock Exchange. Stock shares will agreement rounded down to the nearest whole number.
Need Find Legal Advice To Better Explain Understand Terms and Conditions in Employment Agreement
Need Find Legal Advice To Better Explain Understand Terms and Conditions in Employment Agreement
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It takes 5 pages for one person, and 10 pages for another to elaborate on the same issue.