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.
Exercise and Expiration of Option. The Option granted hereby shall be --------------------------------- exercisable only as follows:
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 provide in paragraph 6 below, only those portions of this Option vested as of the date of termination of Employee's employment may be exercised.
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.
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.
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.
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.
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.
Exercise and Expiration of Option. 3.3.1. ***Confidential Treatment Requested
Exercise and Expiration of Option
