Installment Exercise. Subject to such further limitations as are provided herein, the Option shall become exercisable in four (4) installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion:
(i) on and after the first anniversary of the Date of Xxxxx, up to 25% (ignoring fractional shares) of the total number of Option Shares;
(ii) on and after the second anniversary of the Date of Xxxxx, up to an additional 25% (ignoring fractional shares) of the total number of Option Shares; and
(iii) on and after the third anniversary of the Date of Xxxxx, up to an additional 25% (ignoring fractional shares) of the total number of Option Shares; and
(iv) on and after the fourth anniversary of the Date of Xxxxx, the remaining Option Shares.
Installment Exercise. Subject to such further limitations as are provided herein, the Option shall become exercisable in three (3) installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion:
(a) on and after the first anniversary of the Date of Grant, up to one-third (ignoring fractional shares) of the total number of Option Shares;
(b) on and after the second anniversary of the Date of Grant, up to an additional one-third (ignoring fractional shares) of the total number of Option Shares; and,
(c) on and after the third anniversary of the Date of Grant, the remaining Option Shares.
Installment Exercise. Subject to such further limitations as are provided herein, the Option shall become vested and exercisable in five (5) installments, Participant having the right hereunder to purchase from Corporation the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion:
(a) on and after the first anniversary of the Date of Grant, up to twenty percent (20%) (ignoring fractional shares) of the total number of Option Shares;
(b) on and after the second anniversary of the Date of Grant, up to an additional twenty percent (20%) (ignoring fractional shares) of the total number of Option Shares; and
(c) on and after the third anniversary of the Date of Grant, up to an additional twenty percent (20%) (ignoring fractional shares) of the total number of Option Shares; and
(d) on and after the fourth anniversary of the Date of Grant, up to an additional twenty percent (20%) (ignoring fractional shares) of the total number of Option Shares; and
(e) on and after the fifth anniversary of the Date of Grant, the remaining Option Shares.
Installment Exercise. Subject to such further limitations as are provided in the Plan and as set forth herein, the Option shall become exercisable on the dates and at the per share prices (“Option Price”) set forth below, the Optionee having the right hereunder to purchase from the Company the indicated number of Optioned Shares upon exercise of the Option, on and after such dates, in cumulative fashion:
Installment Exercise. Subject to such further limitations as are provided herein, the Option shall become exercisable in [four (4)] installments, the Participant having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion:
(a) on and after the anniversary of the Grant Date, up to % (ignoring fractional Shares) of the total number of Option Shares;
(b) on and after the anniversary of the Grant Date, up to an additional % (ignoring fractional Shares) of the total number of Option Shares;
(c) on and after the anniversary of the Grant Date, up to an additional % (ignoring fractional Shares) of the total number of Option Shares; and
(d) on and after the anniversary of the Grant Date, the remaining Option Shares.]
Installment Exercise. (a) Subject to such further limitations as are provided herein, and except as provided in subparagraph (b) below [and Paragraph 4] below, the Option shall become vested and exercisable in ______ installments, the Grantee having the right hereunder to purchase from the Company the following number of Option Shares upon exercise of the Option, on and after the following dates, in cumulative fashion: [To be set by the Committee]
(b) If the Grantee's employment with the Company terminates on account of his or her death, the vesting and exercisability of the Option Shares shall be accelerated so that the portion of the Option Shares that would have become vested and exercisable within the one year period after the Grantee's death shall be vested and exercisable on that date.
Installment Exercise. Subject to such further limitations as are provided herein, the Grantee having the right hereunder to purchase from the Company the following number of "A" Option Shares upon exercise of the "A" Option, on and after the following dates, and so long as the Employer shall have attained the "A" Option Vesting Schedule EBIT Goals established by the Committee with respect to the relevant fiscal years noted below:
(a) on and after September 30, ____, up to 25% of the total number of "A" Option Shares if the Employer has attained its Goal during the fiscal year ending June 30, ____;
(b) on and after September 30, 20__, up to an additional 35% of the total number of "A" Option Shares if the Employer has attained its Goal during the fiscal year ending June 30, 20___;
(c) on and after September 30, 20__, up to an additional 40% of the total number of "A" Option Shares if the Employer has attained its Goal during the fiscal year ending June 30, 20___;
(d) Should any of the Goals not be attained by the Employer during any fiscal year, then any unearned "A" Options may become exercisable on and after the sixth anniversary of the Date of Grant;
(e) Any unearned "A" Options remaining after the sixth anniversary of the Date of Grant shall become immediately exercisable if the Grantee has been continuously employed by the Employer, the Company and/or any affiliate of the Company from the Date of Grant through such date;
(f) The Committee reserves the right to revise the Goals at any time.
Installment Exercise. Subject to such further limitations as are provided herein, the Grantee having the right hereunder to purchase from the Company the following number of "B" Option Shares upon exercise of the "B" Option, on and after the following dates:
(a) on and after the first anniversary of the Date of Grant, 25% of the total number of "B" Option Shares;
(b) on and after the second anniversary of the Date of Grant, an additional 35% of the total number of "B" Option Shares; and
(c) on and after the third anniversary of the Date of Grant, an additional 40% of the total number of "B" Option Shares.
Installment Exercise. Subject to any limitations in the Plan and Agreement, the Non-Qualified Stock Option shall become vested and exercisable in five (5) installments for the following percentage of the total number of Common Stock shares under the Option, on or after the following Date of Vesting indicated, in cumulative fashion:
j. Participant agrees to exercise the Option in increments of not less than fifty (50) shares.
Installment Exercise. Subject to such further limitations as are provided herein, the Option shall become vested as follow: 100% of the options become exercisable on the earlier to occur of February 28, 2003 or the Milestone Date, but in no event shall any options become exercisable before January 1, 1998. For purposes of this agreement, the Milestone Date is the date on which the Corporation has sold and installed a minimum of two (2) software licenses in each of two (2) consecutive years, such licenses relating to software based on the technology which is the subject of the Assignment and Transfer of Patent Rights and Other Intellectual Property Rights dated March 1, 1996 between Xxxxx Xxxxx and the Corporation. Notwithstanding anything to the contrary in the above paragraph, in the event that the Corporation sells substantially all of its assets, or more than fifty percent of the voting stock of the Corporation is acquired by any person or entity not currently a shareholder, or the Corporation completes an initial public offering prior to January 1, 1998, the Option shall vest in its entirety and become completely exercisable immediately prior to the event.
