Exercise, Vesting Schedule Sample Clauses
Exercise, Vesting Schedule. The per share exercise price of the Option Shares shall be equal to fair market value of the Company's Common Stock on the date of grant. The Option shall be subject to Employee executing the Company's standard stock option agreement. So long as Employee remains employed with AJ, the Option Shares shall vest on the following schedule: fifty percent (50%) of the Option Shares shall vest on the date six months from the Effective Date of this Agreement; and the remaining Option Shares shall vest ratably over the next eighteen (18) months of Employee's employment thereafter. The term of the Option shall be ten (10) years, subject to earlier expiration in the event of termination of Employee's employment. Vested Option Shares would be exercisable by Employee for a period of 90 days following termination as described in Company's 1999 Equity Incentive Plan.
Exercise, Vesting Schedule. This option shall be exercisable in full or in part at any time and from time to time after the Grant Date. The right of exercise shall be cumulative so that to the extent the option is not exercised at any time for the total number of Shares covered by this option it shall continue to be exercisable, in whole or in part, with respect to all Shares for which this option has not been exercised, until the earlier of the Final Exercise Date or the termination of this option under the Plan or this Section 2. This option shall expire upon, and will not be exercisable after, the Final Exercise Date.