AND EXERCISE. The Compensation Committee has the authority to determine the time or times at which options granted under the plan may be exercised. The Compensation Committee may also accelerate the exercisability of options. The vesting of the new options will be in accordance with the vesting schedule of the surrendered options as described above.
AND EXERCISE. Article 5
AND EXERCISE. (a) Except as set forth below, the Option shall become exercisable as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a number of shares of Common Stock as provided below, the Option may thereafter be exercised by the Participant, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein and in accordance with Section 6.3(d) of the Plan, including, without limitation, the filing of such written form of exercise notice, if any, as may be required by the Committee and payment in full of the Option Price multiplied by the number of shares of Common Stock so exercised. Upon expiration of the Option, the Option shall be canceled and no longer exercisable. The following table indicates each date upon which the Participant shall be entitled to exercise the Option with respect to the number of shares of Common Stock indicated beside that date provided that the Participant has not had a Termination any time prior to the applicable vesting date:(3) VESTING DATE NUMBER OF SHARES ------------ ---------------- [FIRST ANNIVERSARY OF GRANT DATE] [25]% [SECOND ANNIVERSARY OF GRANT DATE] [25]% [THIRD ANNIVERSARY OF GRANT DATE] [25]% [FOURTH ANNIVERSARY OF GRANT DATE] [25]%
AND EXERCISE. 5.1 Subject to Clauses 8 and 9:
AND EXERCISE. With respect to each increment of Option Shares, the Option shall vest and be exercisable by the Optionee for a period of five (5) years (the "Option Period") from the Vesting Date applicable to each such increment of Option Shares.
AND EXERCISE. One-twelfth of the Options, that is, options for twenty-five thousand (25,000) shares, shall vest each month during the term of this agreement, beginning with the month in which this agreement is executed. Unvested Options may be subject to forfeiture or cancellation for non-performance of this Agreement, as set out herein. Vested Options will be exercisable on the sixtieth day following the close of the month in which they vest. The options expire five years after the end of the month in which they vest.
AND EXERCISE. Subject to the limitations contained herein and provided that you remain in Service through the applicable vesting date, your option will vest and become exercisable in accordance with the vesting schedule provided in the Grant Summary.
AND EXERCISE. Until this Option is terminated, the Employee shall have the right to purchase all or a portion of the Units subject to this Option at such times, and from time to time, as is hereinafter set out. There is no obligation on the Employee to purchase any of the Units subject to the Option. The Option shall vest (and to the extent vested become "Vested Options") as follows: one third (1/3) of the aggregate Units under the Option on the first anniversary of the date of grant and an additional one third (1/3) of such Units on each of the next following two anniversaries of the date of grant. To the extent vested, Options may be exercised at any time after the sixth anniversary date from the date of grant, provided that such Vested Options may be exercised earlier than six (6) years from the date of grant upon or after the first to occur of (i) the effectiveness of the Company's initial public offering ("IPO"), or (ii) on or after a "Significant Transaction." "Significant Transaction" means the sale of all or substantially all of the assets of the Company to an unaffiliated third party, or a merger, business combination or a change in control through the issuance or transfer of equity in the Company, wherein the equity owners of the Company (whether partners, stockholders, members or otherwise) of the Company immediately prior to the merger, combination or change in control, do not own or control (directly or indirectly) at least 10% of the equity interest in the Company or the successor company, as the case may be. The Company makes no representation that an IPO or Significant Transaction will occur and shall have no obligation to seek to cause such events to occur.
AND EXERCISE. Your right to purchase shares of Company Common Stock under this Option shall be exercisable only to the extent that this Option has vested. This Option shall vest and become exercisable upon the following schedule: VESTING SCHEDULE
AND EXERCISE. This Option is fully vested and immediately exercisable upon the Date of Grant with respect to all of the shares covered by this Option.
