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 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").

Appears in 1 contract

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

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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--------------- ----------------------- September 1, 1996 16,667 September 1, 1997 16,667 September 1, 1998 3,445 March 7, 1999 3.444 March 7, 2000 3,444 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 March 3September 1, 2007 2006 (the "Time of TerminationTIME 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 three 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 -------------- ---------------------- March 7--------------- ----------------------- August 21, 1996 125,000 August 21, 1997 133,000 August 21, 1998 3,445 March 7133,000 August 21, 1999 3.444 March 7133,000 August 21, 2000 3,444 125,000 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 March 3August 21, 2007 2003 (the "Time of Termination").

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Tech Squared Inc)

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Initial Period of Exercisability. The Option shall become exercisable with respect to the Option Shares in three 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 -------------- ---------------------- March 7, 1998 3,445 March 7INITIAL DATE OF NUMBER OF OPTION SHARES EXERCISABILITY AVAILABLE FOR EXERCISE --------------- ----------------------- January 1, 1999 3.444 March 7June 1, 1999 June 1, 2000 3,444 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 March 3May 31, 2007 2003 (the "Time of Termination").

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Net Radio Corp)

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