Exercise Period of Option. Subject to the terms and conditions of this ------------------------- Stock Option Grant Certificate, and unless otherwise modified by a written modification signed by the Company and Optionee, this Option may be exercised with respect to all of the Shares, but only according to the vesting schedule selected on the reverse of this Stock Option Grant Certificate and as described in Section 9 below, prior to the date which is the last day of the Term set forth on the face hereof following the Date of Grant (the "Expiration Date").
Exercise Period of Option. Provided Participant continues to ------------------------- provide services to the Company or any Subsidiary or Parent of the Company, the Option will become vested and exercisable as to portions of the Shares as follows:
(i) this Option shall not vest nor be exercisable with respect to any of the Shares until 6 months after the Vesting Base Date ("First Vesting Date"); (ii) on the First Vesting Date the Option will become vested and exercisable as to twelve and one half percent (12.5%) of the Shares; and (iii) thereafter at the end of each full succeeding month the Option will become vested and exercisable as to 2.0833% percent of the Shares until the Shares are vested with respect to one hundred percent (100%) of the Shares. If application of the vesting percentage causes a fractional share, such share shall be rounded down to the nearest whole share for each month except for the last month in such vesting period, at the end of which last month this Option shall become exercisable for the full remainder of the Shares.
Exercise Period of Option. (a) This Option is immediately exercisable although the Shares issued upon exercise of the Option will be subject to the restrictions on transfer and Repurchase Options set forth in Section 8 and 9 below. Provided Participant continues to provide services to the Company or to any Parent or Subsidiary of the Company, the Shares issuable upon exercise of this Option will become vested with respect to twenty-five percent (25%) of the Shares on the First Vesting Date set forth on the first page of this Agreement (the "First Vesting Date") and thereafter at the end of each full succeeding month after the First Vesting Date an additional 2.08333% of the Shares will become vested until the Shares are vested with respect to one hundred percent (100%) of the Shares. If application of the vesting percentage causes a fractional share, such share shall be rounded down to the nearest whole share for each month except for the last month in such vesting period, at the end of which last month this Option shall become exercisable for the full remainder of the Shares. Unvested Shares may not be sold or otherwise transferred by Participant without the Company's prior written consent. Notwithstanding any provision in the Plan or this Agreement to the contrary, Options for Unvested Shares (as defined in Section 2.2 of this Agreement) will not be exercisable on or after Participant's Termination Date.
(b) If there is a Sale of the Company and Participant's employment is terminated by the Company or its successor without Cause in connection with the Sale of the Company, then upon such termination the Option will become vested as to an additional number of Unvested Shares equal to fifty percent (50%) of the Shares that were Unvested Shares at the closing of the Sale of the Company.
(c) For purposes of the vesting acceleration provisions of paragraph (b), "Cause" means (i) willfully engaging in gross misconduct that is materially and demonstrably injurious to the Company; (ii) willful act or acts of dishonesty undertaken by Participant and intended to result in substantial gain or personal enrichment for Participant at the expense of the Company; or (iii) willful and continued failure to substantially perform Participant's duties with the Company or its successor (other than incapacity due to physical or mental illness); provided that the action or conduct described in clause (iii) above will constitute "Cause" only if such failure continues after the Board of Directors has provid...
Exercise Period of Option. Provided Participant continues to provide services to the Company or any Subsidiary or Parent of the Company, the Option will become vested and exercisable as to portions of the Shares as follows:
(a) This Option shall not vest nor be exercisable with respect to any of the Shares until ____________ (the "First Vesting Date"); (b) on the First Vesting Date the Option will become vested and exercisable as to twenty-five percent (25%) of the Shares and (c) thereafter at the end of each full succeeding month the Option will become vested and exercisable as to 2.08333% of the Shares. If application of the vesting percentage causes a fractional share, such share shall be rounded down to the nearest whole share.
Exercise Period of Option. This Option is immediately exercisable although the Shares issued upon exercise of the Option will be subject to the restrictions on transfer and Repurchase Options set forth in Sections 7, 8 and 9 below. Provided Participant continues to provide services to the Company or to any Parent or Subsidiary of the Company, the Shares issuable upon exercise of this Option will become vested with respect to twenty-five percent (25%) of the Shares on the First Vesting Date set forth on the first page of this Agreement (the “First Vesting Date”) and thereafter at the end of each full succeeding month after the First Vesting Date an additional 2.08333% of the Shares will become vested until the Shares are vested with respect to one hundred percent (100%) of the Shares. If application of the vesting percentage causes a fractional share, such share shall be rounded down to the nearest whole share for each month except for the last month in such vesting period, at the end of which last month this Option shall become vested for the full remainder of the Shares. Unvested Shares may not be sold or otherwise transferred by Participant without the Company’s prior written consent. Notwithstanding any provision in the Plan or this Agreement to the contrary, Options for Unvested Shares (as defined in Section 2.2 of this Agreement) will not be exercisable on or after Participant’s Termination Date.
Exercise Period of Option. These options shall vest in full on the Grant Date. Subject to the termination provisions of Sections 4, 5 and 11(b) hereof, the vested portion of this Option may be exercised up to and including the date, which is ten (10) years from the Grant Date.
Exercise Period of Option. Subject to the terms and conditions of the Plan and this grant, this Option shall become 100% exercisable as of the date of this grant.
Exercise Period of Option. Provided Participant continues to be an employee, consultant or director of the Company or any Subsidiary or Parent throughout the specified period, the Option shall become exercisable as to portions of the Shares pursuant to the vesting schedule set forth in the Notice.
Exercise Period of Option. Subject to Section 4 below, the Options reflected herein shall become exercisable in cumulative increments at the following times and in the following amounts: 2
(a) With respect to 50% of the underlying shares of Common Stock, as of the day immediately prior to the first annual meeting of shareholders after the Automatic Grant Date;
(b) With respect to an additional 25% of the underlying shares of Common Stock, as of the day immediately prior to the second annual meeting of shareholders after the Automatic Grant Date; and
(c) With respect to an additional 25% of the underlying shares of Common Stock, on the day immediately prior to the third annual meeting of shareholders after the Automatic Grant Date. The options granted hereunder shall lapse and expire five (5) years from the date of this Agreement. Notwithstanding the foregoing but still subject to Section 4 below, this option shall automatically become fully exercisable upon a "change in control" of the Company," as such term is defined in Section 2(d) of the Company's Directors' Stock Option Plan.
Exercise Period of Option. This Option is immediately exercisable although the Shares issued upon exercise of the Option will be subject to the repurchase option and right of first refusal set forth in Sections 8 and 9 below. Provided Participant continues to provide services to the Company or to any Parent or Subsidiary of the Company, the Shares issuable upon exercise of this Option will become vested with respect to twenty-five percent (25%) of the Shares on ___________, 199_ (the "FIRST VESTING DATE") and thereafter at the end of each full succeeding month after the First Vesting Date an additional two and eighty-three one thousandths percent (2.083%) of the Shares will become vested until the Shares are vested with respect to 100% of the Shares, provided that if application of the vesting percentage causes a fractional shares, such share shall be rounded up to the nearest whole share. In addition, immediately before: (i) a consolidation or merger of the Company with or into any other corporation or corporations in which the holders of the Company's outstanding shares immediately before such consolidation or merger will not, immediately after such consolidation or merger, retain stock representing a majority of the voting power of the surviving corporation of such consolidation or merger; or (ii) a sale of all or substantially all of the assets of the Company, fifty percent (50%) of the then Unvested Shares will become vested, provided that if application of the vesting percentage causes a fractional shares, such share shall be rounded up to the nearest whole share. Notwithstanding any provision in the Plan or this Agreement to the contrary, Options for Unvested Shares (as defined in Section 2.2 of this Agreement) will not be exercisable on or after Participant's Termination Date.
