What this meaning? Google's employee stock options typically have a ten-year term from the grant date. Under the TSO program, Google's employee stock options, upon transfer, will have a lifespan of the lesser of two years or up to the remaining term under the original grant. Original link : http://investor.google.com/releases/2006/1212.html ------------------------ I understand as below 1. Google employee can buy stock options from other employee through TSO. outsider who are not google employee can not buy this stock options. 2. At least 2 years later, stock options can be traded, not be trade less than 2 years like 1year or just 6month. Your sincerely