Common use of Exercise Dates Clause in Contracts

Exercise Dates. Commencing upon the first anniversary of February 11, 1999 (the "VESTING START DATE"), Employee may exercise this Option pursuant to the following schedule: VEST DATE NO. OF SHARES --------- ------------- 02/11/00 83,333 02/11/01 21,875 05/11/01 21,875 08/11/01 21,875 11/11/01 17,700 02/11/02 21,875 05/11/02 21,875 08/11/02 21,875 11/11/02 17,700 02/11/03 21,875 Therefore, this Option shall become fully exercisable as of February 11, 2003. In no event shall the Option be exercisable for more shares than the number of shares set forth in Section 1.

Appears in 2 contracts

Samples: Employment Agreement (Smartdisk Corp), Employment Agreement (Smartdisk Corp)

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Exercise Dates. Commencing upon the first anniversary of February 11, 1999 (the "VESTING START DATE"), the Employee may exercise this Option pursuant to the following schedule: VEST DATE NO. OF SHARES --------- ------------- 02/11/00 83,333 02/11/01 4,167 05/11/00 21,875 05/11/01 08/11/00 21,875 08/11/01 11/11/00 21,875 11/11/01 17,700 02/11/02 21,875 05/11/02 21,875 08/11/02 21,875 4,175 11/11/02 17,700 02/11/03 21,875 Therefore, this Option shall become fully exercisable as of February 11, 2003. 4,175 In no event shall the Option be exercisable for more shares than the number of shares set forth in Section 1.

Appears in 2 contracts

Samples: Employment Agreement (Smartdisk Corp), Employment Agreement (Smartdisk Corp)

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