Common use of Exercise Period of Option Clause in Contracts

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.

Appears in 1 contract

Samples: Stock Option Agreement (Informix Corp)

AutoNDA by SimpleDocs

Exercise Period of Option. This Option is immediately exercisable although in full on the date hereof; provided, that the Shares issued upon exercise of the Option will be subject to the repurchase option set forth in Section 7 below and the right of first refusal set forth in Sections 8 and 9 belowthe Company's Bylaws. 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 Total Option Shares (as set forth on ___________the first page of this Agreement) on January 4, 199_ 2001 (the "FIRST VESTING DATE") and thereafter at the end of each full succeeding month after the First Vesting Date an additional two and eightyeight hundred thirty-three one ten thousandths percent (2.0832.0833%) of the Total Option 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 sharesshare, 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 down to the nearest whole share. Notwithstanding any provision anything in the Plan or this Agreement to the contrary, Options an additional 50% of the Total Option Shares will become vested (which accelerated vesting will be in addition to the vesting occurring in accordance with the preceding provisions of this paragraph) immediately prior to the occurrence of a Non-Justifiable Termination (as defined below) that occurs during the period beginning on the date of consummation of a Change of Control (as defined in Section 16.1 below) and ending twelve months thereafter. Notwithstanding any provision in this Agreement to the contrary, the Option will not be exercisable for Unvested Shares (as defined in Section 2.2 of this Agreement) will not be exercisable on or after Participant's Termination Date.

Appears in 1 contract

Samples: Non Plan Stock Option Agreement (Transmeta Corp)

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 twentytwo and eighty-five three one thousandths percent (252.083%) 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 all 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 shareVested Shares. 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.

Appears in 1 contract

Samples: Stock Option Agreement (Informix Corp)

AutoNDA by SimpleDocs

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 an additional twenty-five percent (5025%) 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.

Appears in 1 contract

Samples: Stock Option Agreement (Informix Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.