Description of Option. It is agreed that the Employee shall not have any of the rights of, nor be treated as, a shareholder with respect to the shares subject to this Option until he has exercised the Option, delivery of the stock certificates for such shares has been made to the Employee, and he has become the shareholder of record of such shares. No part of this Option shall be transferable otherwise than by will or the laws of descent and distribution, and any portion of this Option may be exercised, during the lifetime of the Employee, only by him. More particularly (but without limiting the generality of the foregoing), any portion of this Option may not be assigned, transferred (except as provided above), pledged, or hypothecated in any way, shall not be assignable by operation of law, and shall not be subject to execution, attachment, or similar process. Any attempted assignment, transfer, pledge, hypothecation, or other disposition of any portion of this Option contrary to the provisions hereof, and the levy of any execution, attachment, or similar process upon this Option, shall be null and void and without effect. In the event of the Employee's death during the term of this Option, then this Option may be exercised by his executors, administrators, or other legal representatives, heirs, legatees, next of kin, or distributees. In the event of any termination of this Agreement that is either (a) for cause or (b) voluntary on the part of the Employee and without the consent of the Employer, any unvested portion of the Option shall immediately terminate. Method of exercising vested portion of the Option. Such Option may be exercised, in whole at any time or in part from time to time, by giving to UVEW notice in writing to that effect. Within ten (10) days after the receipt by it of notice of exercise of such Option, UVEW shall cause certificates for the number of shares with respect to which such Option is exercised to be issued in the name of Employee or his executors, administrators, or other legal representatives, heirs, legatees, next of kin, or distributees, and to be delivered to the Employee or his executors, administrators, or other legal representatives, heirs, legatees, next of kin, or distributees. Payment of the purchase price for the shares with respect to which such Option is exercised shall be made to UVEW upon the exercise of such Option. In lieu of delivering physical certificates representing the shares issuable upon exercise, provided UVEW's transfer age...
Description of Option. It is agreed that the Employee shall not have any of the rights of, nor be treated as, a shareholder with respect to the shares subject to this Option until the Employee has exercised the Option, delivery of the stock certificates for such shares has been made to the Employee, and the Employee has become the shareholder of record of such shares. No part of this Option shall be transferable otherwise than by will or the laws of descent and distribution, and any portion of this Option may be exercised, during the lifetime of the Employee, only by him. More particularly (but without limiting the generality of the foregoing), any portion of this Option may not be assigned, transferred (except as provided above), pledged, or hypothecated in any way, shall not be assignable by operation of law, and shall not be subject to execution, attachment, or similar process. Any attempted assignment, transfer, pledge, hypothecation, or other disposition of any portion of this Option contrary to the provisions hereof, and the levy of any execution, attachment, or similar process upon this Option, shall be null and void and without effect. In the event of the Employee's death during the term of this Option, then this Option may be exercised by his executors, administrators, or other legal representatives, heirs, legatees, next of kin, or distributees. In the event of any termination of this Agreement that is either (a) for cause or (b) voluntary on the part of the Employee and without the consent of the Employer, any unvested portion of the Option shall immediately terminate.
Description of Option. The Option will vest in equal annual installments on the anniversary date of this Agreement over the following three years as set forth in Section 3.
Description of Option. PACKAGE I: DEFERRED SALES CHARGE: In addition to the events described in Section III - Deferred Sales Charge, the total amount that may be withdrawn each Account Year without a Deferred Sales Charge cannot exceed 10% of the Account Value less:
Description of Option. The Option is composed of two parts: (1) The Time-Based Portion, which consists of percent ( %) of the Shares; and (2) the Performance-Based Portion, which consists of percent ( %) of the Shares. The Time-Based Portion will vest in equal annual installments on the anniversary date of this Agreement over the following years as set forth in Section 3. The Performance-Based Portion will vest based on the Company’s revenue growth over a -year period, with full vesting upon the achievement of a % compound annual growth rate (CAGR) in revenue over an fiscal quarter period, subject to the conditions set forth in Section 3.
Description of Option. Micromet will have the right to opt out of the co-development and co-promotion of Product (the “Opt-Out Option”) with respect to (a) the entire Co-Promotion Territory, or (b) if both the United States and Europe compose the Co-Promotion Territory, either the United States or Europe individually. The territory or territories with respect to which Micromet exercises the Opt-Out Option will be referred to collectively as the “Opt-Out Territory.” Micromet may exercise the Opt-Out Option at any time by providing written notice to Serono, which exercise will become effective immediately upon receipt of such notice by Serono (such effective date, the “Opt-Out Date”).
Description of Option. Optionor share grant to Optionee an option to purchase up to a fifty (50%) percent working interest participation in the oil and gas exploration and development activities on the 2,087 acres known as Medicine River Ranch and Oil Company, LLC.
Description of Option. It is agreed that the Employee shall not have any of the rights of, nor be treated as, a shareholder with respect to the shares subject to this Option until he has exercised the Option, delivery of the stock certificates for such shares has been made to the Employee, and he has become the shareholder of record of such shares. In the event of any termination of this Agreement that is either (a) for cause or (b) voluntary on the part of the Employee and without the consent of the Employer, any unvested portion of the Option shall immediately terminate. Method of exercising vested portion of the Option. Such Option may be exercised, in whole at any time or in part from time to time, by giving to UVEW notice in writing to that effect. Within ten (10) days after the receipt by it of notice of exercise of such Option, UVEW shall cause certificates for the number of shares with respect to which such Option is exercised to be issued in the name of Employee or his executors, administrators, or other legal representatives, heirs, legatees, next of kin, or distributees, and to be delivered to the Employee or his executors, administrators, or other legal representatives, heirs, legatees, next of kin, or distributees. Payment of the purchase price for the shares with respect to which such Option is exercised shall be made to UVEW upon the exercise of such Option. In lieu of delivering physical certificates representing the shares issuable upon exercise, provided UVEW's transfer agent is participating in the Depository Trust Company ("DTC") Fast Automated Securities Transfer ("FAST") program, upon request of the Employee, UVEW agrees to use its best efforts to cause its transfer agent to electronically transmit the Common Stock issuable upon exercise to the Employee by crediting the account of the Employee's prime broker with DTC through its Deposit Withdrawal Agent Commission ("DWAC") system. Changes in capital structure If all or any portion of the Option shall be exercised subsequent to any share dividend, split-up, recapitalization, merger, consolidation, combination or exchange of shares, separation, reorganization, or liquidation occurring after the date hereof, as a result of which shares of any class shall be issued in respect of outstanding Common Shares or Common Shares shall be changed into the same or a different number of shares of the same or another class or classes, the person or persons so exercising the Option shall receive, for the aggregate price pai...
Description of Option. The Option will vest in equal annual installments on the anniversary date of Employee’s initial date of employment, October 13, 2014, over the following four years as set forth in Section 3.
Description of Option. The Option is composed of two parts: (1) The Time-Based Portion, which consists of percent ( %) of the Shares; and (2) the Performance-Based Portion, which consists of percent ( %) of the Shares. The Time-Based Portion will vest in equal annual installments on the anniversary date of this Agreement over the following years as set forth in Section 3. The Performance-Based Portion will vest in equal installments based on the corresponding consolidated revenue targets for the Company as set forth in Section 3.
