Common use of Exercisability/Vesting Clause in Contracts

Exercisability/Vesting. (a) This option shall be immediately exercisable for any or all of the Option Shares, whether or not the Option Shares are vested in accordance with the Vesting Schedule and shall remain so exercisable until the Expiration Date or sooner termination of the option term under Paragraph 5, 6 or 17. (b) Optionee shall, in accordance with the Vesting Schedule, vest in the Option Shares in one or more installments over his or her period of Service. Vesting in the Option Shares may be accelerated pursuant to the provisions of Paragraph 6. In no event, however, shall any additional Option Shares vest following Optionee's cessation of Service.

Appears in 2 contracts

Samples: Merger Agreement (Discovery Laboratories Inc), Merger Agreement (Discovery Laboratories Inc /De/)

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Exercisability/Vesting. (a) A. This option shall be immediately exercisable for any or all of the Option Shares, whether or not the Option Shares are vested in accordance with the Vesting Schedule set forth in the Grant Notice, and shall remain so exercisable until the Expiration Date expiration or sooner termination of the option term under Paragraph 5, 6 or 17term. (b) B. Optionee shall, in accordance with the Vesting Schedule, shall vest in the Option Shares in one or more installments over his or her period of Serviceaccordance with the Vesting Schedule set forth in the Grant Notice. Vesting in the Option Shares may shall also be accelerated pursuant subject to acceleration in accordance with the provisions of Paragraph 6Paragraphs 5, 7 and 8 of this Agreement. In no event, however, shall any additional Option Shares vest following Optionee's cessation of Serviceservice as a Board member.

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Sharper Image Corp)

Exercisability/Vesting. (a) This option shall be immediately exercisable for any or all of the Option Shares, whether or not the Option Shares are vested in accordance with the Vesting Schedule and shall remain so exercisable until the Expiration Date or sooner termination of the option term under Paragraph 5, 6 or 177. (b) Optionee shall, in accordance with the Vesting Schedule, vest in the Option Shares in one or more installments over his or her period of ServiceBoard service. Vesting in the Option Shares may be accelerated pursuant to the provisions of Paragraph 65, 6 or 7. In no event, however, shall any additional Option Shares vest following Optionee's cessation of Serviceservice as a Board member.

Appears in 1 contract

Samples: Automatic Stock Option Agreement (Atlantic Pharmaceuticals Inc)

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Exercisability/Vesting. (a) This option shall be immediately exercisable for any or all of the Option Shares, whether or not the Option Shares are vested in accordance with the Vesting Schedule Schedule, and shall remain so exercisable until the Expiration Date or the sooner termination of the option term under Paragraph 5, 6 5 or 176. (b) Optionee shall, in accordance with the Vesting Schedule, vest in the Option Shares in one or more a series of installments over his or her period of ServiceBoard service. Vesting in the Option Shares may be accelerated pursuant to the provisions of Paragraph 5 or 6. In no event, however, shall any additional Option Shares vest following Optionee's cessation of Serviceservice as a Board member.

Appears in 1 contract

Samples: Automatic Stock Option Agreement (DTM Corp /Tx/)

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