Offering Periods Definition Example

Offering Periods. The periods of approximately twenty-four (24) months during which an option granted pursuant to the Plan may be exercised, commencing on the first Trading Day on or after January 1 and July 1 of each year and terminating on the first Trading Day on or after the January 1 and July 1 Offering Period commencement date approximately twenty-four (24) months later; provided, however, that the first Offering Period under the Plan will commence with the first Trading Day on or after the date on which... the Securities and Exchange Commission declares the Company's Registration Statement effective and ending on the first Trading Day on or after the earlier of (i) July 1, 2007 or (ii) twenty-seven (27) months from the beginning of the first Offering Period; and provided, further, that the second Offering Period under the Plan will commence on the first Trading Day on or after January 1, 2006. The duration and timing of Offering Periods may be changed pursuant to Section 4 of this Plan. View More