This excerpt taken from the CTV DEF 14A filed Mar 16, 2006.
Vesting. Each Nonqualified Stock Option granted to a Nonemployee Director pursuant to Section 11.2 will become exercisable with respect to one-third of the underlying Shares on each of the first, second and third anniversary of the date of grant. In the event a Nonemployee Director ceases to serve as a director for any reason other as a result of his death, Disability or his voluntary retirement after age 55, each Nonqualified Stock Option granted to a Nonemployee Director pursuant to Section 11.2 shall be exercisable during its remaining term, to the extent that the Option or portion thereof was exercisable on the date the Grantee ceased to be a director. In the event a Nonemployee Director ceases to serve as a director of the Company by reason of such Directors death, Disability or retirement after age 55, any portion of the Option that is not yet vested and exercisable on the date of the termination of service, shall become immediately vested and fully exercisable on such date, and shall remain exercisable during its remaining term of the Option, by the Nonemployee Director or such Directors legatee or legatees under his will, or by his personal representatives or distributees, as applicable. In the case of any other Options or Awards granted to a Director under the Plan, such Option shall become exercisable and the restrictions on an Award shall lapse at such times as may be designated by the Committee and set forth in the Agreement. Subject to the foregoing, an Option or Stock Appreciation Right granted to a Director shall be exercisable, to the extent vested, at any time in whole or in part (but if in part, in an amount equal to at least 100 Shares or, if less, the number of Shares remaining to be exercised under the Award or Option) on any business day of the Company before the date such Option or Award expires.