Exercisability and Vesting. (a) Subject to the terms and conditions set forth in this Agreement and the Plan, the Option may be exercised, in whole or in part, at any time and from time to time during the term of the Option, to purchase the number of shares of Stock that have vested and become exercisable in accordance with this Agreement. The Option shall vest and become exercisable with respect to (i) 25% of the total number of shares of Stock subject to the Option on «VestingDate» and (ii) an additional 1/48 of the total number of shares subject to the Option each month thereafter; provided that such options shall become vested with respect to all remaining unvested shares in the event of a Change in Control (as defined below); and provided further, that, upon the termination of Optionee’s Continuous Service (as defined in the Plan), the Option shall cease to vest and shall terminate with respect to all shares of Stock that have not vested and become exercisable prior to such time.
Exercisability and Vesting. Subject to the terms and conditions set forth in this Agreement and the Plan, the Option may be exercised, in whole or in part, at any time and from time to time during the term of the Option, to purchase the number of shares of Stock that have vested and become exercisable in accordance with this Agreement. The Option shall vest and become exercisable with respect to [1/12 of the total number of shares of Stock subject to the Option each month after grant for 12 months after the Grant Date (Use with annual grants)] [1/60 of the total number of shares of Stock subject to the Option each month after grant for five years after the Grant Date (Use with initial grants)]; provided that, such vesting schedule may be accelerated upon a change in control of the Company pursuant to the provisions of the Plan and; provided further, that, upon the termination of Optionee’s Continuous Service (as defined in the Plan), the Option shall cease to vest and shall terminate with respect to all shares of Stock that have not vested and become exercisable prior to such time.
Exercisability and Vesting. Notwithstanding anything herein to the contrary, this Option may be exercised only to the extent it has become vested. This Option will vest and become exercisable with respect to 12/48th of the Shares one year from the Vesting Commencement Date and an additional 1/48th of the Shares on the first day of each month thereafter, in each case, subject to your continuous Status as an Employee on such date. Except as otherwise provided herein, this Option, to the extent vested, may be exercised in whole or in part at any time prior to the close of business at the Company’s principal executive offices on the 90th day following the termination of your Continuous Status with the Company and its Affiliates. Notwithstanding the foregoing, (i) in the event that you have voluntarily terminated your Continuous Status with the Company, this Option, to the extent vested, may be exercised in whole or in part at any time prior to the 30th day following the termination of your Continuous Status, (ii) in the event of your death, this Option, to the extent vested, may be exercised in whole or in part at any time during the 18-month period immediately following your death, and (iii) in the event you terminate your employment due to a Disability, this Option, to the extent vested, may be exercised in whole or in part at any time during the 12-month period immediately following your Disability. However, if the option exercise period determined under subsection (i), (ii), or (iii) above would otherwise expire during either a Market Stand-Off period or any period during which the sale of shares is restricted due to Company policies on xxxxxxx xxxxxxx, the option exercise period for such Options will automatically be extended for a period of 15 days after the end of the applicable sale restriction period. If, at any time, you cease to be an Employee of the Company but you continue to provide bona fide services in a different capacity to the Company following such cessation, including without limitation as a Director, Consultant or independent contractor, then a termination of your Continuous Status shall not be deemed to have occurred for purposes of this Agreement upon such change in relationship. Likewise, your Continuous Status shall not be considered interrupted in the case of any absence approved by the Company or a transfer between locations of the Company or between the Company, its Affiliates, or any successor. Notwithstanding anything herein to the contrary, (a) in no event...
Exercisability and Vesting. Risk of Forfeiture Applicable to Unvested Shares. The Option is fully exercisable immediately as to all of the Option Shares. After the exercise of the Option, the Recipient's interest in any Unvested Shares specified in Schedule I of this Agreement shall, subject to Section 9, be forfeited immediately upon termination of the Recipient's employment with the Company during the Period of Restriction as a result of a Non-Qualifying Termination. "Non-Qualifying Termination" means termination of the Recipient's employment with the Company, whether the termination is effected by the Company, the Recipient or otherwise, except (a) termination as a result of the Recipient's
Exercisability and Vesting. The right of Optionee to purchase Common Stock hereunder shall vest and become exercisable at a rate of 25,000 shares on each of the next four six-month anniversaries of the date hereof as follows: October 15, 1994 25,000 April 15, 1995 25,000 October 15, 1995 25,000 April 15, 1996 25,000
Exercisability and Vesting. The Option shall be immediately exercisable for any or all of the Shares subject to the Option, provided that, subject to Section 12 of the Plan, any Shares purchased under the Option shall be subject to repurchase by the Company, at the exercise price paid per Share, upon the Grantee’s cessation of Board service prior to the first anniversary of the Date of Grant.
Exercisability and Vesting. Subject to the terms and conditions set forth in this Agreement and the Plan, this Option shall become exercisable and vest as follows: 16.6% of the Shares exercisable under this Option shall vest as of the Date of Grant, an additional 8.4% of the Shares shall vest on the sixth (6th) month anniversary of the Date of Grant, and an additional 1/12 of the remaining Shares shall vest on the last day of each three month period thereafter. Subject to the foregoing, this Option may be exercised for vested Shares in whole or part at any time prior to its expiration.
Exercisability and Vesting. Except as otherwise provided in this Option Agreement, twenty-five percent (25%) of the shares subject to the Option shall vest on the one (1) year anniversary of the Vesting Start Date set forth above (the “Vesting Start Date”), and one forty-eighth (1/48th) of the shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Start Date (and if there is no corresponding day, on the last day of the month). The vesting of the Option is subject to Optionee continuing to be an employee, independent contractor, director or officer to the Company, any Company “parent corporation” (as defined in Code Section 424(e)) or any Company “subsidiary corporation” (as defined in Code Section 424(f)) (a “Service Provider”) through each such vesting date. The term “vest” means only that the shares subject to the Option become exercisable; vesting does not cause the shares subject to the Option to become non-terminable or non-forfeitable. The date(s) of vesting of the Option may be accelerated to such extent as shall be determined by the Committee, for any reason which is satisfactory to the Committee. Acceleration also may occur as provided in Section 7.
Exercisability and Vesting. The Option is fully vested and immediately exercisable for all or part of the Shares subject to the Option.
Exercisability and Vesting. (a) Subject to the terms and conditions set forth in this Agreement and the Plan, the Option may be exercised, in whole or in part, at any time and from time to time during the term of the Option, to purchase the number of shares of Stock that have vested and become exercisable in accordance with this Agreement. The Option shall vest and become exercisable with respect to 1/12 of the total number of shares of Stock subject to the Option each month after grant for 12 months after the Grant Date; provided that such Option shall become vested with respect to all remaining unvested shares in the event any surviving corporation or acquiring corporation in connection with a Change in Control (as defined below) assumes such Option or substitutes similar options, but the Optionee is not elected or appointed to the board of directors of the surviving corporation or acquiring corporation at the first meeting of such board of directors after such Change in Control; and provided further, that, upon the termination of Optionee's Continuous Service (as defined in the Plan), the Option shall cease to vest and shall terminate with respect to all shares of Stock that have not vested and become exercisable prior to such time.
