Common use of Duration and Exercisability Clause in Contracts

Duration and Exercisability. a. The term during which this Option may be exercised shall terminate on April 6, 2007, except as otherwise provided in Paragraphs 2(b) through 2(e) below. This Option shall become exercisable according to the following schedule: Percentage/Number Vesting Date of Shares December 31, 1997 16,500 December 31, 1998 16,500 December 31, 1999 16,500 December 31, 2000 16,500 December 31, 2001 16,500 Once the Option becomes exercisable to the extent of one hundred percent (100%) of the aggregate number of shares specified in Paragraph 1, Optionee may continue to exercise this Option under the terms and conditions of this Agreement until the termination of the Option as provided herein. If Optionee does not purchase upon an exercise of this Option the full number of shares which Optionee is then entitled to purchase, Optionee may purchase upon any subsequent exercise prior to this Option's termination such previously unpurchased shares in addition to those Optionee is otherwise entitled to purchase.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Kinnard Investments Inc), Incentive Stock Option Agreement (Kinnard Investments Inc)

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Duration and Exercisability. a. The term during which this Option may be exercised shall terminate on April 6February 22, 20072014, except as otherwise provided in Paragraphs 2(b) through 2(e) below. This Option shall become exercisable according to the following schedule: Percentage/Number Vesting Date Number of Shares December 31February 23, 1997 16,500 December 312005 67,500 February 23, 1998 16,500 December 31, 1999 16,500 December 31, 2000 16,500 December 31, 2001 16,500 2006 67,500 Exhibit 10.3 Once the Option becomes exercisable to the extent of one hundred percent (100%) of the aggregate number of shares specified in Paragraph 1, Optionee may continue to exercise this Option under the terms and conditions of this Agreement until the termination of the Option as provided herein. If Optionee does not purchase upon an exercise of this Option the full number of shares which Optionee is then entitled to purchase, Optionee may purchase upon any subsequent exercise prior to this Option's ’s termination such previously unpurchased shares in addition to those Optionee is otherwise entitled to purchase.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Datakey Inc)

Duration and Exercisability. a. The term during which this Option may be exercised shall terminate on April 6February 22, 20072014, except as otherwise provided in Paragraphs 2(b) through 2(e) below. This Option shall become exercisable according to the following schedule: Percentage/Number Vesting Date Number of Shares December 31February 23, 1997 16,500 December 312005 33,333 February 23, 1998 16,500 December 312006 33,333 February 23, 1999 16,500 December 31, 2000 16,500 December 31, 2001 16,500 2007 33,334 Exhibit 10.4 Once the Option becomes exercisable to the extent of one hundred percent (100%) of the aggregate number of shares specified in Paragraph 1, Optionee may continue to exercise this Option under the terms and conditions of this Agreement until the termination of the Option as provided herein. If Optionee does not purchase upon an exercise of this Option the full number of shares which Optionee is then entitled to purchase, Optionee may purchase upon any subsequent exercise prior to this Option's ’s termination such previously unpurchased shares in addition to those Optionee is otherwise entitled to purchase.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Datakey Inc)

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Duration and Exercisability. a. The term during which this Option may be exercised shall terminate on April 6February 22, 20072014, except as otherwise provided in Paragraphs 2(b) through 2(e) below. This Option shall become exercisable according to the following schedule: Percentage/Number Vesting Date Number of Shares December 31February 23, 1997 16,500 December 312005 95,000 February 23, 1998 16,500 December 31, 1999 16,500 December 31, 2000 16,500 December 31, 2001 16,500 2006 95,000 Exhibit 10.2 Once the Option becomes exercisable to the extent of one hundred percent (100%) of the aggregate number of shares specified in Paragraph 1, Optionee may continue to exercise this Option under the terms and conditions of this Agreement until the termination of the Option as provided herein. If Optionee does not purchase upon an exercise of this Option the full number of shares which Optionee is then entitled to purchase, Optionee may purchase upon any subsequent exercise prior to this Option's ’s termination such previously unpurchased shares in addition to those Optionee is otherwise entitled to purchase.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Datakey Inc)

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