Initial Period of Exercisability. Except as provided in Sections 3.2 and 3.3 hereof, the Option shall become exercisable with respect to one-third of the Option Shares on each of the first, second and third anniversaries of the Date of Grant, assuming the Optionee’s continued employment. The foregoing rights to exercise the Option will be cumulative with respect to the Option Shares becoming exercisable on each such date, but in no event will the Option be exercisable after, and the Option will become void and expire as to all unexercised Option Shares at, 5:00 p.m. (Eastern Standard Time) on the tenth anniversary of the Date of Grant (the “Time of Option Termination”).
Initial Period of Exercisability. Subject to Sections 3.2 and 3.3 below, this Option will become exercisable with respect to the Option Shares in 12 installments beginning on the last day of each fiscal quarter of the Company, as provided in the table below. The table below states the initial dates of exercisability of each installment and the number of Option Shares as to which this Option will become exercisable on those dates: March 20, 2008 42,500 March 31, June 30, Sept. 30 & Dec. 31, 2008 10,625 March 31, June 30, Sept. 30 & Dec. 31, 2009 10,625 March 31, June 30, Sept. 30, & Dec. 31, 2010 10,625 The right to exercise this Option is cumulative with respect to the Option Shares becoming exercisable on the dates stated above; provided, however, that in no event will this Option be exercisable after, and this Option will become void and expire as to all unexercised Option Shares at, 5:00 p.m. (Minnesota time) on March 19, 2018 (the “Time of Termination”).
Initial Period of Exercisability. The Option will become exercisable with respect to the Option Shares [immediately/in _____ installments]. [The following table sets forth the initial dates of exercisability of each installment and the number of Option Shares as to which this Option will become exercisable on such dates: ___________________ _______ ___________________ _______ ___________________ _______ ___________________ _______] [The foregoing rights to exercise this Option will be cumulative with respect to the Option Shares becoming exercisable on each such date.] In no event will this Option be exercisable after, and this Option will become void and expire as to all unexercised Option Shares at 5:00 p.m. Circle Pines, Minnesota time on ______________________ (the “Time of Termination”).
Initial Period of Exercisability. The Option will be exercisable, on a cumulative basis, as to one-third of the Option Shares (excluding any fractional portion less than one share), on each of the first and second anniversaries of the Date of Grant and as to the remaining Option Shares on the third anniversary of the Date of Grant. This Option will remain exercisable as to all unexercised Option Shares until 5:00 p.m. (St. Xxxx, Minnesota time) on the tenth anniversary of the Date of Grant (“Time of Termination”).
Initial Period of Exercisability. The Option will become exercisable with respect to the Option Shares [immediately/in installments]. [The following table sets forth the initial dates of exercisability of each installment and the number of Option Shares as to which this Option will become exercisable on such dates: [The foregoing rights to exercise this Option will be cumulative with respect to the Option Shares becoming exercisable on each such date.] In no event will this Option be exercisable after, and this Option will become void and expire as to all unexercised Option Shares at 5:00 p.m. Lincolnshire, Illinois time on (the “Time of Termination”).
Initial Period of Exercisability. The Option will become exercisable with respect to the Option Shares in _______ installments. The following table sets forth the initial dates of exercisability of each installment and the number of Option Shares as to which this Option will become exercisable on such dates: Initial Date of Number of Option Shares Exercisability Available for Exercise -------------- ---------------------- The foregoing rights to exercise this Option will be cumulative with respect to the Option Shares becoming exercisable on each such date, but in no event will this Option be exercisable after, and this Option will become void and expire as to all unexercised Option Shares at, 5:00 p.m. (Lincolnshire, Illinois time) on _______________, ____ (the "Time of Termination").
Initial Period of Exercisability. The Option will become exercisable with respect to the Option Shares [immediately/in installments]. [The following table sets forth the initial dates of exercisability of each installment and the number of Option Shares as to which this Option will become exercisable on such dates: [The foregoing rights to exercise this Option will be cumulative with respect to the Option Shares becoming exercisable on each such date.] In no event will this Option be exercisable after, and this Option will become void and expire as to all unexercised Option Shares at 5:00 p.m. Circle Pines, Minnesota time on (the “Time of Termination”).
Initial Period of Exercisability. The Option shall become vested and become exercisable with respect to the Option Shares over 48 months with 25% of the Option Shares vesting and becoming exercisable at the first year anniversary of the Date of Grant and the balance vesting and becoming exercisable on a monthly basis at a rate of 1/36 per month for the remaining 36 months, for so long as the Optionee is employed by the Company or any Subsidiary of the Company as of the date of vesting[; provided, however, that if (a) a Change in Control (as defined in the Plan) occurs, and (b) the Optionee’s employment with the Company is terminated by the Company without Cause (as defined in Section 3.2(b)(ii) below) within one year after such Change in Control occurs, then, effective automatically and immediately upon the effectiveness of such termination of employment, the Option shall become vested and be exercisable as to all otherwise unvested Option Shares]. Note [text in bracket provided only on option agreements which include the double-trigger acceleration of vesting upon a change of control] The foregoing rights to exercise this Option shall be cumulative with respect to the Option Shares becoming exercisable on each such date, but in no event will this Option be exercisable after, and this Option shall become void and expire as to all unexercised Option Shares at, 5:00 p.m. Minneapolis, Minnesota time) on the day before the tenth anniversary of the Date of Grant (the “Time of Termination”).
Initial Period of Exercisability. The Option shall become exercisable with respect to the Option Shares in three installments. The following table sets forth the initial dates of exercisability of each installment and the number of Option Shares as to which this Option shall become exercisable on such dates: Initial Date of Number of Option Shares Exercisability Available for Exercise -------------- ---------------------- March 7, 1998 3,445 March 7, 1999 3.444 March 7, 2000 3,444 The foregoing rights to exercise this Option shall be cumulative with respect to the Option Shares becoming exercisable on each such date but in no event shall this Option be exercisable after, and this Option shall become void and expire as to all unexercised Option Shares at, 5:00 p.m. (Minneapolis, Minnesota time) on March 3, 2007 (the "Time of Termination").
Initial Period of Exercisability. The Option will become exercisable on the Grant Date as to 100,000 shares. The remaining 200,000 shares will become exercisable (a) as to 8,333 shares on the first day of each of the next 24 Months (with all remaining shares vesting on the first day of the 24th month) and (b) as to 50 percent of any shares not then exercisable, on the date the State of Missouri approves a law permitting construction and operation of a casino by Company at Rockaway Beach, Missouri or on the date the State of Minnesota approves construction and operation of a harness-racing track by Company in the Twin Cities Metropolitan Area of Minnesota. The provisions of (b) are cumulative such that if both the Rockaway Beach casino and the harness-racing track are approved, the Option will be exercisable as to all Option shares. Optionee’s right to exercise this Option is cumulative. Except as provided in Section 3.2(b), this Option will become void and expire as to all unexercised Option Shares at, 5:00 p.m. (Minnesota time) on July 21, 2009 (the “Time of Termination”).
