Exercise and Expiration of Option Sample Clauses

Exercise and Expiration of Option. Shares subject to this Option may be exercised only in accordance with the following schedule, except as otherwise provided by the Plan and in this Agreement: [___]% of the Shares may be exercised on or after [Date]; [___]% Shares may be exercised after [Date]; [___]% Shares may be exercised after [Date]; [___]% Shares may be exercised after [Date]; and [___]% Shares may be exercised after [Date]. Your exercise rights are cumulative, and this Option may be exercised in whole or in part with respect to Shares for which any exercise rights then exist. To exercise this Option, as provided above, you must be [a Director][an employee] of the Company. However, if your [Directorship][employment] ceases due to your retirement, you may exercise this Option [not later than the last day of the ninety (90) day period following][within three (3) months of] the date your employment ceases due to retirement. If your [Directorship][employment] ceases due to [permanent and total] disability, you may exercise this Option within one (1) year period of the date your [Directorship][employment] ceases due to [a permanent and total] disability. If you should die, your estate (or personal representative) may exercise this Option within the one (1) year period following the date of your death. The Option must be exercised in full not later than [Date] (but in no event more than ten (10) years after the grant date of this Option but, if the optionee owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, not more than five (5) years after grant date of this Option). If this Option is not exercised within the term provided in the preceding sentence, the Option will expire and be of no further force or effect.
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Exercise and Expiration of Option. This Option may be exercised in whole or in part (but not for less than ten shares unless a lesser number of shares represents the entire remaining unexercised balance of the Option) by written notice delivered to the Corporation at its principal office specifying the number of shares as to which the Option is being exercised, accompanied by payment of the purchase price in a manner approved by the Stock Option Committee, together with the amount of any applicable Federal, State or Local taxes which the Committee determines are due in connection with the exercise of this Option. Unless earlier terminated pursuant to Section 4 hereof or Section 16(b) of the Plan, this Option shall expire on and shall be exercisable as follows: exercise terms A certificate or certificates for the shares as to which this Option shall have been so exercised shall be registered in the name of the person or persons who exercise this Option. In the event such person or persons are the transferee(s) of the Optionee by will or by the laws of descent and distribution, such notice shall be accompanied by appropriate proof of the right of such transferee(s) to exercise this Option.
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Exercise and Expiration of Option. This Option, if not exercised, shall expire and become null and void upon the expiration of three (3) months after Employee ceases to be employed by the Company or any of its subsidiaries (subject to being extended based upon service duration with the Company) unless such termination shall have been for cause, as determined by the Committee, in which event the Option shall be null and void as of the date of such termination. Notwithstanding the above, if Employee retires from the Company or any of its subsidiaries (as determined by the Committee in its sole discretion), the Option may, at the Committee's discretion, remain exercisable for a period not to exceed 36 months following such retirement. In the event of Employee's death or permanent disability, the Option shall be exercisable for a period of 12 months following such death or disability. Notwithstanding the above, the Option shall, without exception, become null and void once a period of 10 years shall have lapsed since the Date of Grant. Except as provided in paragraph 6 below, only those portions of this Option vested as of the date of termination of Employee's employment may be exercised.
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Exercise and Expiration of Option. 3.3.1. Confidential Treatment Requested
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Exercise and Expiration of Option. This Option, if not exercised, shall expire and become null and void upon the expiration of three (3) months after Employee ceases to be employed by the Company or any of its Affiliates unless such termination shall have been for cause, as determined by the Committee, in which event the Option shall be null and void as of the date of such termination. Notwithstanding the above, if Employee retires from the Company or any of its Affiliates, the Option shall remain exercisable for a period of 36 months following such retirement. “Retirement” shall mean the separation from employment, other than by the Company for cause, after the earlier of (a) completing 15 years of service with the Company or any Subsidiary and attaining age 55 or (b) attaining age 65. In the event of Employee’s death or permanent disability (Employee’s permanent disability shall be established only if Employee is “disabled” as determined in accordance with Section 22(e)(3) of the Code), the Option shall be exercisable for a period of 12 months following such death or disability. Notwithstanding the above, the Option shall, without exception, become null and void once a period of 7 years shall have elapsed since the Date of Grant. Except as provided in paragraph 6 below, only those portions of this Option vested as of the date of termination of Employee’s employment may be exercised.
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Exercise and Expiration of Option. 3.1. At any time before the expiration of one (1) year from the date of closing of any sale of InsCap stock by Guest or Acap stock by InsCap as contemplated in Section 2.1 of this Agreement (the "Expiration Date"), Xxxxxxx may exercise the Option granted him under this Agreement and require AC to purchase all or a portion of the Xxxxxxx Stock upon the terms set forth herein. 3.2. In the event that any shares of Xxxxxxx Stock are still owned by Xxxxxxx upon the Expiration Date and Xxxxxxx has failed to exercise the Option to require AC to purchase such shares as provided for herein, such Option with respect to such shares of Xxxxxxx Stock shall expire and be of no further force and effect. 3.3. The Option granted by this Agreement may be exercised by Xxxxxxx on or before the Expiration Date in whole at any time or in part from time to time, by delivery to AC at its principal office of a written notice of the exercise of the Option that specifies the number of shares of Xxxxxxx Stock as to which the Option is being exercised, and a request for payment for such shares. Upon receipt of the written notice, AC shall promptly pay Xxxxxxx the price for such shares of Xxxxxxx Stock as provided in Article II of this Agreement.
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Exercise and Expiration of Option. (a) This Option shall be exercisable on and after the Date of Grant and shall expire five (5) years following the Date of Grant. (b) Subject to the foregoing, this Option may be exercised in whole or in part at any time, from time to time, by giving written notice of exercise to the Company specifying the number of Option Shares to be purchased.
Sample 1
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Exercise and Expiration of Option. Medtronic may exercise the Japanese Distribution Option by notifying Volcano in writing of such exercise on or before June 30, 2006 (the “Option Expiration Date”); provided, however, that Medtronic may not exercise the Japanese Distribution Option prior to the earlier to occur of (i) June 30, 2005 and (ii) to the extent possible, one year prior to any anticipated termination of the Fukuda Distribution Agreement, or, if it is not possible to give advance notice of any such termination, then upon the termination of the Fukuda Distribution Agreement. Volcano shall promptly notify Medtronic if Volcano becomes aware of any anticipated or actual termination of the Fukuda Distribution Agreement before its natural expiration date.
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Exercise and Expiration of Option 
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Related to Exercise and Expiration of Option

  • Expiration of Option Except as otherwise provided in Section 5 or 6 of the Management Stockholder’s Agreement, the Optionee may not exercise the Option to any extent after the first to occur of the following events: (a) The tenth anniversary of the Grant Date so long as the Optionee remains employed with the Company or any Service Recipient through such date; (b) The first anniversary of the date of the Optionee’s termination of employment with the Company and all Service Recipients, if the Optionee’s employment is terminated by reason of death or Disability; (c) Immediately upon the date of an Optionee’s termination of employment by the Company and all Service Recipients for Cause; (d) Thirty (30) days after the date of an Optionee’s resignation from employment with the Company and all Service Recipients without Good Reason (except due to death or Disability); (e) One hundred and eighty (180) days after the date of: (i) an Optionee’s resignation from employment with the Company and all Service Recipients for Good Reason; (ii) an Optionee’s Retirement; or (iii) an Optionee’s termination of employment by the Company and all Service Recipients without Cause (for any reason other than as set forth in Sections 3.2(b) or 3.2(g)), including upon nonrenewal of Optionee’s existing employment agreement by the Company or other applicable Service Recipient, in the event such termination listed in (i), (ii), or (iii) occurs prior to the fifth anniversary of the Closing Date; (f) The Extended Exercise Date in the event of (i) an Optionee’s resignation from employment with the Company and all Service Recipients for Good Reason; (ii) an Optionee’s Retirement; or (iii) an Optionee’s termination of employment by the Company and all Service Recipients without Cause (for any reason other than as set forth in Sections 3.2(b) or 3.2(g)), including upon nonrenewal of Optionee’s existing employment agreement by the Company or other applicable Service Recipient, and any such termination listed in (i), (ii), or (iii) occurs on or after the fifth anniversary of the Closing Date; (g) The Extended Exercise Date in the event of an Optionee’s Job Elimination; (h) Immediately upon the date of an Optionee’s breach of the provisions Section 22(a)(ii) of the Management Stockholder’s Agreement; or (i) At the discretion of the Company, if the Committee so determines pursuant to Section 9 of the Plan. Notwithstanding the foregoing, the time periods set forth in this Section 3.2 shall not begin to run with respect to Performance Options that vest in accordance with Section 3.1(a)(ii) above until the time at which the Board certifies the financial statements for the Company for the Fiscal Year immediately preceding the Fiscal Year in which, or for the Fiscal Year in which, termination of employment occurs.

  • 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.

  • Expiration of Options Except as otherwise provided in Section 5 or 6 of the Management Stockholder's Agreement, the Optionee may not exercise the Options to any extent after the first to occur of the following events: (a) The tenth anniversary of the Grant Date; (b) The tenth anniversary of the Grant Date if the Optionee's employment is terminated by reason of death or Permanent Disability; (c) The first anniversary of the date of the Optionee's termination of employment by reason of Retirement, by the Company or any of its Subsidiaries without Cause (other than by reason of Permanent Disability) or by the Optionee for Good Reason; (d) The date of an Optionee's termination of employment with the Company or any of its Subsidiaries by the Optionee for any reason other than as set forth in Section 3.2(b) or (c) above (without regard to Section 5 or 6 of the Management Stockholder's Agreement); (e) The date of an Optionee's termination of employment by the Company or any of its Subsidiaries for Cause; (f) The date the Option is terminated pursuant to Section 5 or 6 of the Management Stockholder's Agreement; or (g) If the Committee so determines pursuant to Section 9 of the Plan, the effective date of either the merger or consolidation of the Company into another Person, or the exchange or acquisition by another Person of all or substantially all of the Company's assets or 80% or more of its then outstanding voting stock, or the recapitalization, reclassification, liquidation or dissolution of the Company. At least ten days prior to the effective date of such merger, consolidation, exchange, acquisition, recapitalization, reclassification, liquidation or dissolution, the Committee shall give the Optionee notice of such event if the Option has then neither been previously fully exercised nor become unexercisable under this Section 3.2.

  • Term and Exercise of Option a. The term of this Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein. b. This Option shall be exercisable only in the event that and to the extent that such Option has become vested and exercisable pursuant to the terms of this Section 3.b (or Sections 7 or 8 below, if applicable). Subject to the earlier termination of this Option pursuant to its terms and to the terms of the Option Plan, this Option shall vest and become exercisable as follows, but only if the Optionee is then an employee of or continues to provide services to the Company or an Affiliate at the specified time: (i) Up to twenty percent (20%) of such Option Shares (rounded down to the nearest whole share) may be purchased at any time after one (1) year from the Grant Date and prior to the termination of this Option; (ii) Up to forty percent (40%) of such Option Shares (rounded down to the nearest whole share and less any shares previously purchased pursuant to this Option that vest pursuant to this Section 3.b) may be purchased at any time after two (2) years from the Grant Date and prior to the termination of this Option; (iii) Up to sixty percent (60%) of such Option Shares (rounded down to the nearest whole share and less any shares previously purchased pursuant to this Option that vest pursuant to this Section 3.b) may be purchased at any time after three (3) years from the Grant Date and prior to the termination of this Option; (iv) Up to eighty percent (80%) of such Option Shares (rounded down to the nearest whole share and less any shares previously purchased pursuant to this Option that vest pursuant to this Section 3.b) may be purchased at any time after four (4) years from the Grant Date and prior to the termination of this Option; (v) Up to 100% of such Option Shares (less any shares previously purchased pursuant to this Option that vest pursuant to this Section 3.b) may be purchased at any time after five (5) years from the Grant Date and prior to the termination of this Option. c. To exercise this Option, the Optionee shall satisfy the following conditions: (i) deliver written notice to the Company at its principal office within the option period, which written notice must be in the form of attached Exhibit A to this Agreement, and (ii) deliver payment in full for the Option Shares with respect to which this Option is then being exercised, as provided in Section 4(a) below. d. Neither the Optionee nor the Optionee’s legal representatives, legatees or distributees, as the case may be, will be, or will be deemed to be, a holder of any Option Shares for any purpose unless and until certificates for such Option Shares are issued (or are reflected upon the official records of the Company) to the Optionee or the Optionee’s legal representatives, legatees or distributees, under the terms of the Option Plan.

  • Grant and Exercise of Option Provided that (i) no Default has occurred and is then continuing (ii) the creditworthiness of Tenant is then reasonably acceptable to Landlord and (iii) Tenant originally named herein or a Permitted Transferee remains in possession of the Leased Premises throughout the term immediately preceding the Extension Term (as defined below), Tenant shall have the option to extend the Lease Term for two (2) additional periods of five (5) years each (the "Extension Term(s)"). Each Extension Term shall be upon the same terms and conditions contained in the Lease except (x) this provision giving two (2) extension options shall be amended to reflect the remaining options to extend, if any, and (y) any improvement allowances or other concessions applicable to the Leased Premises under the Lease shall not apply to the Extension Term, and (z) the Minimum Annual Rent shall be adjusted as set forth below (the "Rent Adjustment"). Tenant shall exercise each option by delivering to Landlord, no later than twelve (12) months prior to the expiration of the preceding term, written notice of Tenant's desire to extend the Lease Term. Tenant's failure to timely exercise such option shall be deemed a waiver of such option and any succeeding option. Landlord shall notify Tenant of the amount of the Rent Adjustment no later than one hundred eighty (180) days prior to the commencement of the Extension Term. Tenant shall be deemed to have accepted the Rent Adjustment if it fails to deliver to Landlord a written objection thereto within thirty (30) days after receipt thereof. If Tenant exercises its option to extend in accordance with the terms hereof, Landlord and Tenant shall execute an amendment to the Lease reflecting the terms and conditions of the Extension Term within thirty (30) days after Tenant's acceptance (or deemed acceptance) of the Rent Adjustment.

  • Termination of Option (a) The Optionee’s right to exercise any options that have vested and are exercisable shall terminate on the earliest of the following dates: (i) The Expiration Date; (ii) Subject to subsections (c) and (d) below, the date which is six (6) months from the date on which the Optionee ceases to act as an officer of the Company or any subsidiary of the Company; (iii) In the event of the termination of the Optionee as an officer of the Company or any subsidiary of the Company as a result of a breach of the Optionee’s obligations to the Company or any subsidiary of the Company, or as a result of any dishonesty, fraud, misconduct, the unauthorized use or disclosure of confidential information or trade secrets, or conviction or confession of a crime punishable by law (except minor violations) (each of which being a termination for “Cause”), the earliest date on which the Optionee is notified by the Company of such termination; and (iv) The date which is six (6) months from the date of the Optionee’s death or the date the Optionee is determined by the Company to be unable to perform his or her duties as an officer of the Company or any subsidiary of the Company as a result of any mental or physical disability that is expected to result in death or that is expected to last for a continuous period of twelve (12) months or more (the “Disability Determination Date”). (b) The Optionee’s right to exercise any options that have not vested and are not exercisable shall terminate on the earliest of the following dates: (i) The date the Optionee ceases to act as an officer of the Company or any subsidiary of the Company; (ii) In the case of the termination of the Optionee as an officer of the Company or any subsidiary of the Company for Cause, on the earliest date on which the Optionee is notified by the Company of such termination; and (iii) The date of the Optionee’s death or the Disability Determination Date, as applicable. (c) For purposes of this Section 7, the Optionee will be deemed not to have ceased to act as an officer of the Company or any subsidiary of the Company (the “Original Position”) if the Optionee continues to act as an employee, officer, director or consultant of the Company or a subsidiary of the Company in some other capacity immediately upon ceasing to act in the Original Position. (d) Also notwithstanding the forgoing, if the Optionee dies after he or she ceases to be an officer of the Company or any subsidiary of the Company for reasons other than a termination for Cause or for disability in accordance with the above, the Optionee’s right to exercise any options that have vested and are exercisable on the date the Optionee ceases to be an officer of the Company or any subsidiary of the Company shall terminate on the earliest of the Expiration Date and the date which is six (6) months after the date of death.

  • 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.

  • Manner of Exercise of Option (a) To the extent that the right to exercise the Option has accrued and is in effect, the Option may be exercised in full or in part by giving written notice to the Company stating the number of Shares as to which the Option is being exercised and accompanied by payment in full for such Shares. No partial exercise may be made for less than one hundred (100) full Shares of Common Stock. Payment shall be made in accordance with the terms of the Plan. Upon such exercise, delivery of a certificate for paid-up, non- assessable Shares shall be made at the principal office of the Company to the person exercising the Option, not less than thirty (30) and not more than ninety (90) days from the date of receipt of the notice by the Company. (b) The Company shall at all times during the term of the Option reserve and keep available such number of Shares of its Common Stock as will be sufficient to satisfy the requirements of the Option.

  • Expiration of Warrant This Warrant shall expire on the five (5) year anniversary of the Base Date (the “Expiration Date”).

  • Exercise and Duration of Warrant (a) This Warrant will be exercisable, in whole or in part, by the registered Holder at any time and from time to time on and after the Original Issue Date to and including the Expiration Date, subject to fulfillment of the conditions set forth below. At 5:00 p.m., New York City time on the Expiration Date, the portion of this Warrant not exercised prior to the Expiration Date will be and become void and of no value. (b) A Holder may exercise this Warrant by delivering to the Company (i) an exercise notice, in the form attached to this Warrant as Appendix B (the "Exercise Notice"), appropriately completed and duly signed and (ii) payment of the Exercise Price for the number of Warrant Shares as to which this Warrant is being exercised (as set forth in Section 4(c) below). The date such items are received by the Company is an "Exercise Date." Execution and delivery of the Exercise Notice will have the same effect as cancellation of the original Warrant and issuance of a New Warrant evidencing the right to purchase the remaining number of Warrant Shares. (c) The Holder will pay the Exercise Price, at the sole election of the Holder, (i) in cash, by certified bank check payable to the order of the Company, or by wire transfer of immediately available funds in accordance with the Company's instructions or (ii) by presenting and surrendering to the Company this Warrant, in which event the Company will issue to the Holder the number of Warrant Shares determined as follows: X = Y [(A-B)/A] where:

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