Common use of Initial Period of Exercisability Clause in Contracts

Initial Period of Exercisability. The Option shall become exercisable with respect to the Option Shares in five 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 --------------- ----------------------- January 1, 1999 June 1, 1999 June 1, 2000 June 1, 2001 June 1, 2002 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 May 31, 2003 (the "Time of Termination").

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Net Radio Corp)

AutoNDA by SimpleDocs

Initial Period of Exercisability. The Option shall become exercisable with respect to the Option Shares in five 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 --------------- ----------------------- January 1Initial Date of Number of Option Shares Exercisability Available for Exercise -------------- ---------------------- March 7, 1998 3,445 March 7, 1999 June 1, 1999 June 13.444 March 7, 2000 June 1, 2001 June 1, 2002 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 May 31March 3, 2003 2007 (the "Time of Termination").

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Liferate Systems Inc)

Initial Period of Exercisability. The Option shall will become exercisable with respect to the Option Shares in five 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 will become exercisable on such dates: INITIAL DATE OF NUMBER OF OPTION SHARES EXERCISABILITY AVAILABLE FOR EXERCISE --------------- ----------------------- January 1Initial Date of Exercisability Number of Option Shares Available for Exercise , 1999 June 1000 , 1999 June 1000 , 2000 June 1000 , 2001 June 1000 , 2002 000 The foregoing rights to exercise this Option shall will be cumulative with respect to the Option Shares becoming exercisable on each such date date, but in no event shall will this Option be exercisable after, and this Option shall will become void and expire as to all unexercised Option Shares at, 5:00 4:30 p.m. (Minneapolis, Minnesota time) on May 31, 2003 200 (the "β€œTime of Termination"”).

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Nash Finch Co)

Initial Period of Exercisability. The Option shall will become exercisable with respect to the Option Shares in five 4 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 will become exercisable on such dates: INITIAL DATE OF NUMBER OF OPTION SHARES EXERCISABILITY AVAILABLE FOR EXERCISE --------------- Initial Date of Number of Option Shares Exercisability Available for Exercise -------------- ----------------------- January 1August 21, 1997 117,000 August 21, 1998 117,000 August 21, 1999 June 1, 1999 June 1, 2000 June 1, 2001 June 1, 2002 117,000 The foregoing rights to exercise this Option shall will be cumulative with respect to the Option Shares becoming exercisable on each such date date, but in no event shall will this Option be exercisable after, and this Option shall will become void and expire as to all unexercised Option Shares at, 5:00 p.m. (Minneapolis, Minnesota time) on May 31August 21, 2003 (the "Time of Termination").

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Tech Squared Inc)

AutoNDA by SimpleDocs

Initial Period of Exercisability. The Option shall will become exercisable with respect to the Option Shares in five four 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 will become exercisable on such dates: INITIAL DATE OF NUMBER OF OPTION SHARES EXERCISABILITY AVAILABLE FOR EXERCISE Initial Date of Number of Option Shares Exercisability Available for Exercise --------------- ----------------------- January 1August 21, 1996 125,000 August 21, 1997 133,000 August 21, 1998 133,000 August 21, 1999 June 1, 1999 June 1133,000 August 21, 2000 June 1, 2001 June 1, 2002 125,000 The foregoing rights to exercise this Option shall will be cumulative with respect to the Option Shares becoming exercisable on each such date date, but in no event shall will this Option be exercisable after, and this Option shall will become void and expire as to all unexercised Option Shares at, 5:00 p.m. (Minneapolis, Minnesota time) on May 31August 21, 2003 (the "Time of Termination").

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Tech Squared Inc)

Initial Period of Exercisability. The Option shall become exercisable with respect to the Option Shares in five 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 Initial Date of Number of Option Shares Exercisability Available for Exercise --------------- ----------------------- January September 1, 1999 June 1996 16,667 September 1, 1999 June 1997 16,667 September 1, 2000 June 1, 2001 June 1, 2002 1998 16,666 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 May 31September 1, 2003 2006 (the "Time of TerminationTIME OF TERMINATION").

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Liferate Systems Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.