Common use of Initial Period of Exercisability Clause in Contracts

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”).

Appears in 2 contracts

Samples: Non Statutory Stock Option Agreement (Northern Technologies International Corp), Incentive Stock Option Agreement (Northern Technologies International Corp)

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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 the Option will become exercisable on such dates: ___________________ _______ ___________________ _______ ___________________ _______ ___________________ _______] [The foregoing rights to exercise this the Option will be cumulative with respect to the Option Shares becoming exercisable on each such date.] In no event will this the Option be exercisable after, and this the 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”).

Appears in 2 contracts

Samples: Non Statutory Stock Option Agreement (Northern Technologies International Corp), Incentive Stock Option Agreement (Northern Technologies International Corp)

Initial Period of Exercisability. The Option will become exercisable with respect to the Option Shares [immediately/in ______ installments]installment(s). [The following table sets forth the initial dates date of exercisability of each installment such installment(s) and the number of Option Shares as to which this Option will become exercisable on such datesdate: ___________________ _______ ___________________ _______ ___________________ _______ ___________________ _______] [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.] In , 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. Circle PinesMinneapolis, Minnesota time on _________________, _____ (the "Time of Termination").

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Mocon Inc)

Initial Period of Exercisability. The Except as otherwise provided in Sections 3.2 and 3.3 below, 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 the Option will become exercisable on such dates: ___________________ _______ ___________________ _______ ___________________ _______ ___________________ _______] [The foregoing rights to exercise this the Option will be cumulative with respect to the Option Shares becoming exercisable on each such date.] In no event will this the Option be exercisable after, and this the 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”).

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Northern Technologies International Corp)

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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: _____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.] In , 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 at, 5:00 p.m. Circle PinesMinneapolis, Minnesota time time) on ______________, 20________ , (the "Time of Termination").

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (LSC Inc)

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: 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.] 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 PinesLincolnshire, Minnesota Illinois time on ______________________ (the “Time of Termination”).

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Biosante Pharmaceuticals Inc)

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