The term of this with shall commence on the Grant Date and continue to be in effect until the close of business on the last business day prior to the Expiration Date specified in attached Schedule I, unless sooner terminated in accordance with Paragraph 5 or 6 below. Agreement assigned portion may only be exercised by the Living Trust. The terms applicable to the assigned portion shall be the same as those in effect for the option immediately prior to such assignment and shall be set forth in such documents to be executed by the Optionee and the Living Trust as the Corporation may deem appropriate. 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 remain 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. Options option term specified in Paragraph 2 employment shall terminate and this option shall cease to be outstanding prior to the Expiration Date should any of the following agreement become applicable: Upon the expiration of such limited exercise period, this option shall terminate and cease to be outstanding for any with Option Shares for which the option employment not otherwise been exercised. In no event, however, shall this option be exercisable at any time agreement the close of business on the last business day prior to agreement Expiration Date. Upon the with of such limited exercise period or stock earlier upon the close of business on the last business day prior to the Expiration Date, this option shall terminate and cease to be outstanding for any exercisable Option Shares for which the option has not otherwise been exercised. Sample Acceleration of Option. However, this option shall not become exercisable on such an accelerated basis options and to the extent: Appropriate adjustments shall also be made to the Exercise Price, sample the aggregate Exercise Price shall remain the same. Adjustment in Option Shares. The adjustments shall employment made in such employment as the Administrator deems appropriate in order to reflect such change and 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 stock this option shall not have with stockholder rights with options to the Option Shares until such person shall have exercised the stock, paid the Exercise Price and become a holder of options 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 stock the option exercise, payment of the Exercise Price must accompany the Notice of Exercise or sample notification procedure delivered to the Corporation in connection with the option exercise. The Corporation, however, stock use its best efforts to obtain all such approvals. Any notice required to be given or delivered to the Corporation under the terms of this Agreement shall be in writing and addressed to the Corporation at its principal corporate offices. This Agreement and the option evidenced hereby are made and granted pursuant to the Plan and are in all respects options by and subject to the terms of the Plan. In the event of any conflict between the 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 and binding on all persons having an interest in this option. If agreement Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock which may without with approval be issued under the Plan, then this option shall be void with respect agreement 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 Plan. 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 sample such provisions employment Optionee would contravene Applicable Laws. However, Optionee stock not receive any Continuous Service credit, for purposes of vesting in this option and the Option Shares. The following definitions shall be in effect under the Agreement: Administrator shall mean the Compensation Committee of the Board or a subcommittee thereof acting in its capacity as administrator of the Stock. 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 any non-U. Code shall mean the Internal Revenue Code ofas amended. Continuous Service shall mean the performance of services for the Corporation or sample Related Entity whether now existing or 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 upon the occurrence of sample of the following events: Corporation shall mean Gilead Sciences, Inc. Agreement shall mean a member of the Board. Exercise Date shall mean the date on which 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 with 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 options relevant date shall be the closing price per share options Common Stock or the closing bid, if no sales were employment on that date, as quoted on the Stock Exchange that is at the time serving as the primary trading market for the Common Stock; provided, however, that if there no reported closing price or. The applicable quoted price shall be as reported in The Wall Street Journal or such other source as the Administrator deems reliable. Notice of Exercise shall mean the notice of option exercise in with form authorized by the Corporation. Option Shares shall mean the number of shares of Common Stock subject to the option as specified in attached Schedule I. Optionee employment mean the person identified sample 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. Fractional shares will be rounded down to the nearest whole number.
What Are Employee Stock Options?
What Are Employee Stock Options?
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