Common use of General Vesting Clause in Contracts

General Vesting. (i) One-third of the Stock Options (rounded down to the nearest whole Share) shall become Vested Options and shall become exercisable on the first anniversary of the Grant Date, (ii) one-third of the Stock Options (rounded down to the nearest whole Share) shall become Vested Options and shall become exercisable on the second anniversary of the Grant Date and (iii) the remainder of the Stock Options shall become Vested Options and shall become exercisable on the third anniversary of the Grant Date, in the case of each of clauses (i), (ii) and (iii), subject to Participant not having incurred a Termination of Employment prior to the applicable vesting date.

Appears in 5 contracts

Samples: Nonqualified Stock Option Agreement (NMI Holdings, Inc.), Nonqualified Stock Option Agreement (NMI Holdings, Inc.), Nonqualified Stock Option Agreement (NMI Holdings, Inc.)

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General Vesting. (i) One-third of the Stock Options (rounded down to the nearest whole Share) shall become Vested Options and shall become exercisable on the first anniversary of the Grant DateDate of Grant, (ii) one-third of the Stock Options (rounded down to the nearest whole Share) shall become Vested Options and shall become exercisable on the second anniversary of the Date of Grant Date and (iii) the remainder of the Stock Options shall become Vested Options and shall become exercisable on the third anniversary of the Grant DateDate of Grant, in the case of each of clauses (i), (ii) and (iii), subject to Participant not having incurred a Termination of Employment Service prior to the applicable vesting date.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (NMI Holdings, Inc.), Nonqualified Stock Option Agreement (NMI Holdings, Inc.)

General Vesting. (i) One-third [insert fraction] of the Stock Options (rounded down to the nearest whole Share, if applicable) shall become Vested Options and shall become exercisable on the first [___] anniversary of the Grant Date, Date of Grant; (ii) one-third [insert fraction] of the Stock Options (rounded down to the nearest whole Share, if applicable) shall become Vested Options and shall become exercisable on the second [___] anniversary of the Grant Date of Grant; and (iii) the remainder of the Stock remaining Options shall become Vested Options and shall become exercisable on the third [___] anniversary of the Grant DateDate of Grant, in the case of each of clauses (i), (ii) and (iii)case, subject to Participant not having incurred a Termination of Employment prior to as of the applicable vesting date.]

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (National Bank Holdings Corp)

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General Vesting. (i) One-third of the Stock Options (rounded down to the nearest whole Share) shall become Vested Options and shall become exercisable on the first anniversary of the Grant Date, (ii) one-third of the Stock Options (rounded down to the nearest whole Share) shall become Vested Options and shall become exercisable on the second anniversary of the Grant Date and (iii) the remainder of the Stock Options shall become Vested Options and shall become exercisable on the third anniversary of the Grant Date, in the case of each of clauses (i), (ii) and (iii), subject to Participant not having incurred a Termination of Employment Service prior to the applicable vesting date.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (NMI Holdings, Inc.)

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