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 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 PinesMinneapolis, Minnesota time on (the “Time of Termination”).

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Mocon Inc), Non Statutory Stock Option Agreement (Mocon Inc)

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Initial Period of Exercisability. The Option will become exercisable with respect to the Option Shares [immediately/in 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 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 , 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 Pines(Minneapolis, Minnesota time time) on (the “Time of Termination”).

Appears in 1 contract

Samples: Non Statutory Stock Option Agreement (Fargo Electronics Inc)

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