Exercisability of Option or Portion of Option Sample Clauses

Exercisability of Option or Portion of Option. The Option shall --------------------------------------------------------- become exercisable, if at all, only on an Anniversary Date, except as otherwise provided in Section 4.4 of this Agreement. The extent to which the Option shall become exercisable on any Anniversary Date shall be determined pursuant to the provisions of Sections 3.2 and 3.3 of this Agreement; provided that, except as otherwise provided under Section 4.4 of this Agreement, in no case shall the Option become exercisable on any one (1) Anniversary Date for more than the Anniversary Date Option Amount. To the extent that, by application of the provisions of Sections 3.2 or 3.3 of the Agreement, no portion of the Option becomes exercisable on an Anniversary Date, or the Option becomes exercisable for less than the Anniversary Date Option Amount on such Anniversary Date, the Option shall terminate with respect to that number of shares of Stock that is equal to the difference between the Anniversary Date Option Amount and the number of shares of Stock as to which the Option becomes exercisable on such Anniversary Date.
Sample 1
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Related to Exercisability of Option or Portion of Option

  • 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.

  • 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.

  • Termination of Option (a) Any unexercised portion of the Option shall automatically and without notice terminate and become null and void at the time of the earliest to occur of:

  • Expiration of Option The Option may not be exercised to any extent by anyone after the first to occur of the following events:

  • 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.

  • 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.

  • Acceleration of Option Notwithstanding any other provision of this Agreement to the contrary, the Option granted hereby shall become immediately exercisable upon the occurrence of a Change in Control (as hereinafter defined) of the Corporation if Optionee is an employee of the Corporation or any of its subsidiaries on the date of the consummation of such Change in Control. For purposes of this Section 4.2, a “Change in Control” means the occurrence of any of the following events:

  • Termination of Options The Options, which become exercisable as provided in paragraphs 3 and 4 above, shall terminate and be of no force or effect as follows:

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Options may not be exercised to any extent by the Optionee after the first to occur of the following events:

  • 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.

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