Common use of Maximum Term and Vesting Clause in Contracts

Maximum Term and Vesting. The Option may not be exercised after the expiration of ten (10 ) years from the date of this Agreement, subject to earlier termination as provided in the Plan and this Agreement. Subject to the provisions of this Section 5 and Section 6, the Option shares shall vest and be exercisable by the Optionee in accordance with the following schedule: Notwithstanding the foregoing, the Option shares shall also vest and be exercisable upon the Optionee’s death, Permanent and Total Disability or Retirement. In addition, the Option shares shall vest and be exercisable upon a Change in Control of the Company.

Appears in 2 contracts

Samples: Stock Option Agreement (Horizon Bancorp /In/), Stock Option Agreement (Horizon Bancorp /In/)

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Maximum Term and Vesting. The Option may not be exercised after the expiration of ten (10 10) years from the date of this Agreementagreement, subject to earlier termination as provided in the Plan and or this Agreementagreement. Subject to the provisions of this Section 5 and Section 67, the Option shares Shares shall vest and be exercisable by the Optionee in accordance with Participant according to the following schedule: Notwithstanding the foregoing, the Option shares Shares shall also vest become fully vested and be exercisable upon the Optionee’s Participant's death, Permanent and Total Disability or Retirement. In addition, the Option shares Shares shall vest and be exercisable upon a Change in Control of the Company.

Appears in 2 contracts

Samples: Executive Stock Option Award Agreement (Old National Bancorp /In/), Executive Stock Option Award Agreement (Old National Bancorp /In/)

Maximum Term and Vesting. The Option may not be exercised after the expiration of ten (10 10) years from the date of this Agreementagreement, subject to earlier termination as provided in the Plan and or this Agreementagreement. Subject to the provisions of this Section 5 and Section 67, one hundred percent (100%) of the Option shares Shares shall vest and be exercisable by the Optionee in accordance with the following schedule: Participant on (Date). Notwithstanding the foregoing, the Option shares Shares shall also vest become fully vested and be exercisable upon the Optionee’s Participant's death, Permanent and Total Disability or Retirement. In addition, the Option shares Shares shall vest and be exercisable upon a Change in Control of the Company.

Appears in 1 contract

Samples: Executive Stock Option Award Agreement (Old National Bancorp /In/)

Maximum Term and Vesting. The Option may not be exercised after the expiration of ten (10 10) years from the date of this Agreementagreement, subject to earlier termination as provided in the Plan and or this Agreementagreement. Subject to the provisions of this Section 5 and Section 67, the Option shares Shares shall vest and be exercisable by the Optionee in accordance with Participant according to the following schedule: February 1, 2007 33.3% February 1, 2008 33.3% February 1, 2009 33.4% Notwithstanding the foregoing, the Option shares Shares shall also vest become fully vested and be exercisable upon the OptioneeParticipant’s death, Permanent and Total Disability or Retirement. In addition, the Option shares Shares shall vest and be exercisable upon a Change in Control of the Company.

Appears in 1 contract

Samples: Executive Stock Option Award Agreement (Old National Bancorp /In/)

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Maximum Term and Vesting. The Option may not be exercised after the expiration of ten (10 10) years from the date of this Agreementagreement, subject to earlier termination as provided in the Plan and or this Agreementagreement. Subject to the provisions of this Section 5 and Section 67, the Option shares Shares shall vest and be exercisable by the Optionee in accordance with Participant according to the following schedule: February 1, 2008 33.3 % February 1, 2009 33.3 % February 1, 2010 33.4 % Notwithstanding the foregoing, the Option shares Shares shall also vest become fully vested and be exercisable upon the OptioneeParticipant’s death, Permanent and Total Disability or Retirement. In addition, the Option shares Shares shall vest and be exercisable upon a Change in Control of the Company.

Appears in 1 contract

Samples: Executive Stock Option Award Agreement (Old National Bancorp /In/)

Maximum Term and Vesting. The Option may not be exercised after the expiration of ten (10 10) years from the date of this Agreement, subject to earlier termination as provided in the Plan and this Agreement. Subject to the provisions of this Section 5 and Section 6, the Option shares shall vest and be exercisable by the Optionee in accordance with the following schedule: / / 33 percent 33 percent / / 33 percent 66 percent / / 34 percent 100 percent Notwithstanding the foregoing, the Option shares shall also vest and be exercisable upon the Optionee’s death, Permanent and Total Disability or Retirement. In addition, the Option shares shall vest and be exercisable upon a Change in Control of the Company.

Appears in 1 contract

Samples: Stock Option Agreement (Horizon Bancorp /In/)

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