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 Elapsed Period of Time (which number of shares shall be rounded After Date Option is Granted down to the nearest whole number) Less than One (1) Year 0% One (1) Year 33-1/3%
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. 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 so employed 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 __________, ____, and ending __________, ____, but (subject to Paragraph 6) only in accordance with the following schedule: Cumulative Percentage of Shares Subject to Option Which May be Purchased (which Elapsed Number of Years number of shares shall be rounded After Date of this Agreement down to the nearest whole number) ---------------------------- ---------------------------------- Less than One Year 0% One Year 33-1/3% Two Years 66-2/3% Three Years 100%
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 so employed 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 __________, ____, and ending ___________, ____, but (subject to Paragraph 6) only in accordance with the following schedule: Elapsed Number of Years After Date of this Agreement Cumulative Percentage of Shares Subject to Option Which May be Purchased (which number of shares shall be rounded down to the nearest whole number) Less than One Year 0% One Year 33-1/3% Two Years 66-2/3% Three Years 100%
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. 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:
Exercisability and Termination of Option a. The Option shall vest and become exercisable, but only during the time that the Optionee is serving as a director of the Company, as to 30% of the Optioned Shares immediately, as to an additional 30% after one calendar year has elapsed from the date of this Stock Option Agreement, and as to the final 40% after the second calendar year has elapsed from the date of this Stock Option Agreement; provided, however, that if the Optionee ceases to be a director of the Company by reason of death, disability, or retirement within two calendar years after the date of this Stock Option Agreement or in the event of a Change in Control (as defined in Section 3.b below), the Option shall become immediately exercisable in full. The Option shall terminate on the earlier of: (i) February 1, 2009; (ii) six months after the Optionee ceases to be a director of the Company by reason of death; or (iii) three months after the Optionee ceases to be a director of the Company for any reason other than death.
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 otherwise 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 the vesting provisions of this Paragraph 3 and Paragraph 6, the Option may be exercised by the Optionee in whole, or in part from time to time, during the 10-year period beginning on the date hereof, and ending on November 6th, 2006. Notwithstanding the above provisions of this Paragraph 3 regarding the exercisability of the Option, Optionee shall not have the right to exercise the Option to any extent until the third (3rd) anniversary of the date of this Agreement, at which time Optionee shall have the fully vested right to exercise all of the Optioned Shares from and after such third anniversary date. Such three-year period is hereinafter referred to as the "Period of Vesting" and each such year during such period is referred to as an "Employment Year." In the event of a Change of Control (as defined in Paragraph 10(b) of the Employment Agreement), the Option shall be automatically fully vested and exercisable, subject to forfeiture to the extent provided in Paragraph 10(c) of the Employment Agreement.
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%
