Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to 40% of the shares on December 18, 2005, and with respect to 1.667% of the shares on the last day of each succeeding calendar month thereafter so long as the Participant continues in the Service of the Company; provided, however, the Participant may not exercise any Option for fractional shares of Common Stock. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
Limitations on Exercise of Options. (a) Subject to the terms and conditions set forth herein and in the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to [25%] of the shares on the first anniversary of the Effective Date and on each succeeding anniversary thereafter so long as the Participant is employed by the Company; provided, however, upon the occurrence of a Change of Control, as defined below, all of the then unvested Options shall automatically vest and be fully exercisable and shall remain so exercisable in accordance with the terms of this Agreement. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
(b) For purposes of this Agreement, a "Change of Control" shall mean:
Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and the Plan, the Options shall vest and become exercisable on the Effective Date; provided, however, the Participant may not exercise any Option for fractional shares of Common Stock. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
Limitations on Exercise of Options. 5.6.1 Vested Incentive Stock Options may not be exercised after the earliest of (i) their expiration date, (ii) twelve (12) months from the date of the Participant's Termination of Employment by reason of his death, (iii) twelve (12) months from the date of the Participant's Termination of Employment by reason of his Permanent Disability, or (iv) the expiration of three (3) months from the date of the Participant's Termination of Employment for any reason other than such Participant's death or Permanent Disability, unless the Participant dies within said three (3) month period and the Award Agreement or the Committee permits later exercise. Leaves of absence for less than ninety (90) days shall not cause a Termination of Employment for purposes of Incentive Stock Options.
5.6.2 Non-Qualified Stock Options may be exercised up until their expiration date, unless the Committee provides otherwise in the Award Agreement.
Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to 25% of the shares on October 18, 2005 so long as the Participant continues in the Service of the Company from the Effective Date through October 18, 2005, and with respect to 2.083% of the shares on the last day of each succeeding calendar month thereafter so long as the Participant continues in the Service of the Company; provided, however, the Participant may not exercise any Option for fractional shares of Common Stock. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
Limitations on Exercise of Options. Subject to early expiration of the Options upon a termination of employment with the Company as set forth in Section 3 below and compliance with the terms and conditions set forth herein, the Options may be exercised only after they vest and only with respect to whole shares. The Options shall vest as follows: in quarterly installments over a period of three (3) years from the Grant Date, except that (i) no vesting will occur until six (6) months following the Grant Date, at which time one-sixth (1/6) of the Options will vest, and (ii) each installment will round up to the nearest whole option, with the last installment consisting of any remaining unvested options.
Limitations on Exercise of Options. Subject to early expiration of the Options upon a termination of employment with the Company, as set forth in Section 3 below, and compliance with the terms and conditions set forth herein, the Options shall vest and become exercisable as to fifty percent (50%) of the Options on the Grant Date and as to the remaining fifty percent (50%) of the Options on the one year anniversary of the Grant Date. To the extent not exercised, vested Options shall accumulate and be exercisable, in whole or part, at any time after becoming exercisable, but not later than the date the Options expire.
Limitations on Exercise of Options. (a) Option A shall become exercisable as follows:
(i) half of the shares of Common Stock under Option A shall vest and become exercisable on the first anniversary of the date of signing the employment agreement; and
(ii) half of the shares of Common Stock under Option A shall vest and become exercisable on the second anniversary of the date of signing the employment agreement.
(b) The remaining 76,803 shares subject to Option B shall become exercisable as follows:
(i) with respect to 30,721 of the shares of Common Stock under Option B, one-quarter of such shares shall vest and become exercisable on each of the first, second, third and fourth anniversaries of its Grant Date; and
(ii) with respect to 46,082 of the shares of Common Stock under Option B, one-third of such shares shall vest and become exercisable on each of the second, third and fourth anniversaries of its Grant Date.
(c) Options C and D shall be exercisable as follows:
(i) one-quarter of the shares of Common Stock under each Option shall vest and become exercisable on each of the first, second, third and fourth anniversaries of its Grant Date.
Limitations on Exercise of Options. (a) The Options shall vest and become exercisable, on a cumulative basis, with respect to ____________ [25% of total] shares on December 31, 1999 and with respect to ____________ [6.25% of total] on the last day of each calendar quarter thereafter while the Participant serves on the Board of Directors of the Company (the "Board of Directors"). The Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time. If a Change in Control (as defined below) occurs and the Company terminates the Participant's service as a member of the Board of Directors for any reason other than death, Disability or Cause within nine (9) months after the Change in Control, then all Options shall vest and be immediately exercisable in full as of the date of such termination and shall remain exercisable for the periods set forth in Section 3, subject to the Committee's right to cancel the Options under Section 13 of the Plan.
(b) For the purposes of this Agreement, "Change of Control" shall mean:
Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and in the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to ____% of the shares on the ______ anniversary of the Effective Date and on each succeeding anniversary thereafter so long as the Participant is engaged in the promotion and sales of orthopedic implant devices and related products on behalf of the Company as contemplated by the Distributor Agreement ("Service"). The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
