DURATION OF OPTION AND EXERCISABILITY Sample Clauses

DURATION OF OPTION AND EXERCISABILITY. A. Initial Period of Exercisability. Except as provided in Articles II.B, II.C and III below, the Option shall become exercisable according to the following schedule. Once the Option becomes fully exercisable Participant may continue to exercise this Option under the terms and conditions of this Agreement until the first of the termination of this Option as provided herein or the Expiration Date (as defined below). If Participant does not purchase upon an exercise of this Option the full number of shares which Participant is then entitled to purchase, Participant may purchase upon any subsequent exercise prior to this Option’s termination or Expiration Date such previously unpurchased shares in addition to those Participant is otherwise entitled to purchase. Except as otherwise provided in Articles II.B, II.C and III. below, the term during which this Option may be exercised will continue until 5:00 p.m. (Central time) on [the date that is no more than ten (10) years following the date of grant of this Option OR: for greater than ten percent (10%) holders insert the date that is no more than five (5) years following the date of grant of this Option] (the “Expiration Date”). In no event shall this Option be exercisable after the Expiration Date. Vesting Date Number of Option Shares Available for Exercise
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DURATION OF OPTION AND EXERCISABILITY. A. Initial Period of Exercisability. The Option shall fully vest, or be fully exercisable in _________ installments, on the Date of Grant. In no event shall this Option be exercisable after, and this Option shall become void and expire as to all unexercised Option Shares at, 5.00 p.m. (Central time) on ___________ (the "Expiration Date").
Sample 1
DURATION OF OPTION AND EXERCISABILITY. A. Initial Period of Exercisability. The Option shall be fully exercisable in _________ (___) installments. The following table sets forth the initial dates of exercisability of each of each installment and the number of Option Shares as to which this Option shall become exercisable on such dates, provided that Optionee has continually served as an employee of the Company. In no event shall this Option be exercisable after, and this Option shall become void and expire as to all unexercised Option Shares at, 5:00 p.m. (Central time) on __________________, ________ (the "Expiration Date"). Initial Date of Number of Option Shares Exercisability Available for Exercise
Sample 1
DURATION OF OPTION AND EXERCISABILITY 
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Related to DURATION OF OPTION AND EXERCISABILITY

  • Duration and Exercisability A. This option may not be exercised by Employee until the expiration of two (2) years from the date of grant, and this option shall in all events terminate ten (10) years after the date of grant. During the first two years from the date of grant of this option, no portion of this option may be exercised. Thereafter this option shall become exercisable in four cumulative installments of 25% as follows: Total Portion of Option Date Which is Exercisable ---- -------------------- Two Years after Date of Grant 25% Three Years after Date of Grant 50% Four Years after Date of Grant 75% Five Years after Date of Grant 100% In the event that Employee does not purchase in any one year the full number of shares of Common Stock of the Company to which he/she is entitled under this option, he/she may, subject to the terms and conditions of Section 3 hereof, purchase such shares of Common Stock in any subsequent year during the term of this option.

  • Vesting and Exercisability of Option The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.

  • Exercisability of Option Unless otherwise provided in this Agreement or the Plan, this Option shall entitle the Participant to purchase, in whole at any time or in part from time to time, to the extent the Option is vested in accordance with the vesting schedule herein, the Shares subject to this Option, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised or terminated as herein provided, during the remaining Option Period.

  • Exercisability of Options Options granted under the Plan shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall determine in its sole discretion. After an Option is granted, the Committee, in its sole discretion, may accelerate the exercisability of the Option.

  • Vesting and Exercisability (a) No portion of this Stock Option may be exercised until such portion shall have vested.

  • Acceleration of Exercisability of Option (a) This Option shall become immediately fully exercisable in the event that, prior to the termination of the Option pursuant to Section 6 hereof, and during the Optionee’s Continuous Service, there is a “Change in Control,” as defined in Section 9(b) of the Plan.

  • Duration of Exercisability The installments provided for in Section 3.1 are cumulative. Each such installment which becomes exercisable pursuant to Section 3.1 shall remain exercisable until it becomes unexercisable under Section 3.3.

  • Exercisability This option shall be exercisable as to: Number of Shares Vesting Date 400 immediate This option shall remain exercisable as to all vested shares until January 1,2014 (but not later than ten (10) years from the date this option is granted) unless this option has expired or terminated earlier in accordance with the provisions hereof or in the Plan. Subject to paragraphs 4 and 5, shares as to which this option becomes exercisable pursuant to the foregoing provision may be purchased at any time prior to expiration of this option.

  • Duration of Option The Option shall be exercisable to the extent and in the manner provided herein for a period of ten (10) years from the Grant Date (the "Exercise Term"); provided, however, that the Option may be earlier terminated as provided in Section 6 hereof.

  • Acceleration of Exercisability Notwithstanding the schedule provided in subsection 3.2, the Option will become fully exercisable (unless Participant chooses to decline accelerated Vesting of all or any portion of the Option) upon the occurrence of either:

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