Exercisability and Termination of Option. Except as provided herein, the Option may be exercised only while the Optionee is an employee of either the Company or an affiliate of the Company and only if the Optionee has been continuously so employed since the date of grant of the Option. Subject to Paragraph 6, the Option may be exercised by the Optionee in whole, or in part from time to time, during the period beginning ______________, ____, and ending _____________________, ____, but only in accordance with the following schedule: Cumulative Percentage of Shares Subject to Option Which May be Purchased (which number of shares shall be rounded Elapsed Period of Time down to the nearest whole After Date Option is Granted number) Less than One (1) Year 0% One (1) Year 33-1/3%
Exercisability and Termination of Option. Except as provided herein, the Option may be exercised only while the Optionee is an employee of either the Company or an affiliate of the Company and only if the Optionee has been continuously so employed since the date of grant of the Option. Subject to Paragraph 6, the Option may be exercised by the Optionee in whole, or in part from time to time, during the period beginning ______________, ____, and ending _____________________, ____, but only in accordance with the following schedule:
Exercisability and Termination of Option. The Option may be exercised by the Optionee only in accordance with the following schedule: Cumulative Percentage of Shares Subject to Option Which May be Purchased Elapsed Period of Time (which number of shares shall be rounded After Date Option is Granted down to the nearest whole number) ---------------------------- ----------------------------------------
Exercisability and Termination of Option. Provided that the Optionee is an employee of the Company or any successor thereto at the time, the Option shall vest and become exercisable on: as to shares, as to shares, and as to shares. Nothwithstanding the foregoing, all of the options granted to Optionee hereunder shall immediately, and without further action by any party vest upon the earlier of (i) the twenty first consecutive trading day that the closing best bid price for the Common Stock, as reported on the Nasdaq SmallCap Market (or on such other market or exchange on which the Common Stock shall then be listed), shall equal or exceed one hundred and sixty seven (167) percent of the Option Price per share (subject to adjustment in the manner contemplated by Paragraph 9 hereof), and (ii) the date on which a Change in Control of the Company shall have occurred. For purposes hereof, a “Change in Control” shall have occurred if and when:
(i) any person (other than (A) the Company or any of its subsidiaries, (B) a trustee or other fiduciaries holding securities under any employee benefit plan of the Company or any of its subsidiaries, (C) an underwriter temporarily holding securities pursuant to an offering of such securities, or (D) a corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of the stock of the Company (together, “Excluded Persons”)) is or becomes the “beneficial owner” (as such term is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), directly or indirectly, of securities of the Company representing 25% or more of the combined voting power of the Company’s then outstanding voting securities; or
(ii) the following individuals cease, for any reason, to constitute a majority of the number of directors then serving on the Company’s Board of Directors: individuals who, on the Grant Date, constituted the Board of Directors of the Company and any new directors (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Company, as such terms are used in Rule 14a-11 under the Exchange Act) whose appointment or election by the Board of Directors or nomination for election by the Company’s shareholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were dir...
Exercisability and Termination of Option. The Option shall become exercisable on _____________, ____; provided, however, that if the Optionee ceases to be a director of the Company by reason of death, disability or retirement prior to _________, ____ the Option shall become immediately exercisable in full. The Option shall terminate on the earlier of: (i) __________, ____; or (ii) twelve months after the Optionee ceases to be a director of the Company for any reason, including as a result of the Optionee's death, disability or retirement.
Exercisability and Termination of Option. The Option shall become exercisable as to 20% of the Optioned Shares after one year has elapsed after the Grant Date and an additional 20% shall become exercisable after the end of each subsequent year such that the Option is fully exercisable after five years have elapsed after the Grant Date; provided, however, that the Option shall (subject to the terms of the Plan) become fully exercisable
(i) upon retirement of the Participant as a director of the Corporation after age 70, (ii) upon early retirement of the Participant as a director of the Corporation after age 65, in the event that the Participant has served as a director of the Corporation and/or of Fox Cities Bank (or any predecessor thereof) for at least 10 years at the time of such retirement, (iii) in the event of the Participant's disability or death while serving as a director, or (iv) upon a Change of Control (as defined in the Plan) of the Corporation. The Option to the extent not theretofore exercised shall terminate on the earlier of: (i) __________________ or (ii) three months after the Participant ceases to be a director of the Corporation.
Exercisability and Termination of Option. Except as provided herein, the Option may be exercised only while the Optionee is an employee of the Company or an Affiliate of the Company and only if the Optionee has been continuously affiliated with the Company or any of its Affiliates since the date of grant of the Option. The Option may be exercised by the Optionee in whole, or in part from time to time, during the period beginning January 1, 20__, and ending __________, ____ (the "Expiration Date"), but (subject to Paragraphs 6 and 7) only in accordance with the following schedule: Cumulative Percentage of Shares Subject to Option Which May be Purchased (which number of shares shall be rounded Period down to the nearest whole number) ------- ------------------------------------------ Prior to January 1, 20__ 0% January 1, 20__ to December 31, 20__ 33-1/3% January 1, 20__ to December 31, 20__ 66-2/3% January 1, 20__ to Expiration Date 100%
Exercisability and Termination of Option. The Option may be exercised by the Optionee only in accordance with the following schedule:
Exercisability and Termination of Option. Except as provided herein, the Option may be exercised only while the Optionee is an employee of the Company or an Affiliate of the Company and only if the Optionee has been continuously affiliated with the Company or any of its Affiliates since the date of grant of the Option. The Option may be exercised by the Optionee in whole or in part from time to time, during the period beginning [Date], and ending [Date] (the “Expiration Date”). [Date] to [Date] [Percentage] [Date] to [Date] [Percentage] [Date] to Expiration Date [Percentage]
Exercisability and Termination of Option. The Option shall become exercisable as to 20% of the Optioned Shares after one year has elapsed after the Grant Date and an additional 20% shall become exercisable after the end of each subsequent year such that the Option is fully exercisable after five years have elapsed after the Grant Date. The Option shall terminate on the earlier of: (i) __________________; (ii) one year after the death of the Participant; or (iii) three months (unless otherwise determined by the Committee at any time) after the Participant ceases to be an employee of the Corporation and any Affiliate for any reason (including total or partial disability and normal or early retirement, but excluding death and termination of employment by the Corporation or any Affiliate for "Cause," as defined below). If the employment of the Participant is terminated for Cause, all rights of the Participant under this Agreement shall expire immediately upon the giving to the Participant of notice of such termination. To the extent the Option may be exercised following cessation of the Participant's employment, it will be exercisable only to the extent the Participant was entitled to exercise the Option at the time of such cessation.
