Exercise Schedule. Except as otherwise provided in Sections 6 or 10 of this Agreement, the Option is exercisable in installments as specified on Schedule I hereof beside the caption “Vesting”, which shall be cumulative. To the extent that the Option has become exercisable with respect to a percentage of Shares as provided on Schedule I hereof beside the caption “Vesting” on each date (each date being, a “Vesting Date”) upon which the Optionee shall be entitled to exercise the Option with respect to the percentage of Shares granted as indicated for each Vesting Date (provided that the Continuous Service of the Optionee continues through and on the applicable Vesting Date), the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date. Upon the termination of the Optionee’ s Continuous Service, any unvested portion of the Option shall terminate and be null and void.
Appears in 23 contracts
Samples: Sparta Commercial Services (Sparta Commercial Services, Inc.), Sparta Commercial Services (Sparta Commercial Services, Inc.), Sparta Commercial Services (Sparta Commercial Services, Inc.)
Exercise Schedule. Except as otherwise provided in Sections 6 or 10 of this Agreement, or in the Plan, the Option is exercisable in installments as specified on Schedule I hereof beside the caption “Vesting”, which shall be cumulative. To the extent that the Option has become exercisable with respect to a percentage of Shares as provided on Schedule I hereof beside the caption “Vesting” on each date (each date being, a the “Vesting Date”) upon which the Optionee shall be entitled to exercise the Option with respect to the percentage of Shares granted as indicated for each Vesting Date (provided that the Continuous Service of the Optionee continues through and on the applicable Vesting Date), the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date. Upon the termination of the Optionee’ s ’s Continuous Service, any unvested portion of the Option shall terminate and be null and void.
Appears in 2 contracts
Samples: Consultant Agreement (Enigma-Bulwark, LTD), Stock Option Agreement (Audioeye Inc)
Exercise Schedule. Except as otherwise provided in Sections 6 7 or 10 11 of this Agreement, or in the Plan, the Option is shall become vested and exercisable in installments as specified on Schedule I hereof beside the caption “Vesting”provided below, which shall be cumulative. To the extent that the Option has become vested and exercisable with respect to a percentage of Shares as provided on Schedule I hereof beside the caption “Vesting” on each date (each date being, a “Vesting Date”) upon which the Optionee shall be entitled to exercise the Option with respect to the percentage of Shares granted as indicated for each Vesting Date (provided that the Continuous Service of the Optionee continues through and on the applicable Vesting Date)below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided hereinherein The Option shall become vested and exercisable as follows: 25% of the number of shares set forth above shall become vested and exercisable on the first anniversary of the Date of Grant, and one forty-eighth (1/48) of the number of shares set forth above shall thereafter become vested and exercisable on each subsequent monthly anniversary of the Date of Grant (each such date a “Vesting Date”), in each case provided that the Continuous Service of the Optionee continues through and on the applicable Vesting. For the avoidance of doubt, the entire number of Shares shall become vested and exercisable on the fourth anniversary of the Date of Grant. Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date. Upon the termination of the Optionee’ s ’s Continuous Service, any unvested portion of the Option shall terminate and be null and void.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (Surgalign Holdings, Inc.)
Exercise Schedule. (a) Except as otherwise provided in this Section 2 and Sections 6 5 or 10 of this Agreement, the Option is exercisable in installments as specified on Schedule I hereof beside the caption “Vesting”, which shall be cumulativeprovided below. To the extent that the Option has become exercisable with respect to a percentage of Shares as provided on Schedule I hereof beside the caption “Vesting” on each date (each date being, a “Vesting Date”) upon which the Optionee shall be entitled to exercise the Option with respect to the percentage of Shares granted as indicated for each Vesting Date (provided that the Continuous Service of the Optionee continues through and on the applicable Vesting Date)below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the “Vesting Date”) upon which the Optionee shall be entitled to exercise the Option with respect to the Shares granted as indicated beside the date, provided that the Continuous Service of the Optionee continues through and on the applicable Vesting Date: Percentage of Shares Vesting Date 100% September 18, 2010 Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each the Vesting Date, and all vesting shall occur only on the appropriate Vesting Date. Upon Notwithstanding anything to the termination of foregoing in this Section 2(a), including the Optionee’ s Continuous ServiceVesting Date, any unvested portion of the Option shall terminate and not be null and voidexercisable, in whole or in part, until the two year anniversary of the Date of Grant, except as provided in Section 10(b)(i) of this Agreement.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (Quikbyte Software Inc)
Exercise Schedule. (a) Except as otherwise provided in this Section 2 and Sections 6 5 or 10 of this Agreement, the Option is exercisable in installments as specified on Schedule I hereof beside the caption “Vesting”, which shall be cumulativeprovided below. To the extent that the Option has become exercisable with respect to a percentage of Shares as provided on Schedule I hereof beside the caption “Vesting” on each date (each date being, a “Vesting Date”) upon which the Optionee shall be entitled to exercise the Option with respect to the percentage of Shares granted as indicated for each Vesting Date (provided that the Continuous Service of the Optionee continues through and on the applicable Vesting Date)below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the “Vesting Date”) upon which the Optionee shall be entitled to exercise the Option with respect to the Shares granted as indicated beside the date, provided that the Continuous Service of the Optionee continues through and on the applicable Vesting Date: Percentage of Shares Vesting Date 100% September 21, 2010 Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each the Vesting Date, and all vesting shall occur only on the appropriate Vesting Date. Upon Notwithstanding anything to the termination of foregoing in this Section 2(a), including the Optionee’ s Continuous ServiceVesting Date, any unvested portion of the Option shall terminate and not be null and voidexercisable, in whole or in part, until the two year anniversary of the Date of Grant, except as provided in Section 10(b)(i) of this Agreement.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (Quikbyte Software Inc)