OF OPTION Sample Clauses
OF OPTION. This Option may not be transferred in any manner otherwise than by will or the laws of descent or distribution. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.
OF OPTION. This Option may not be transferred in any manner otherwise than by will or the laws of descent or distribution. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee. Notwithstanding any other terms of this agreement, to the extent permissible under Rule 16b-3 of the Securities Exchange Act of 1934, as amended, this Option may be transferred to the Optionee's spouse, lineal ascendants, lineal descendants, or to a duly established trust, provided that such transferee shall be permitted to exercise this Option subject to the same terms and conditions applicable to the Optionee.
OF OPTION. The right to exercise this Option shall vest in installments, and this Option shall be exercisable from time to time in whole or in part as to any vested installment, as follows:
OF OPTION. This Option may not be transferred in any manner otherwise than by will or the laws of descent or distribution, or pursuant to a "qualified domestic relations order" (within the meaning of Section 414(p) of the Code and the regulations and rulings thereunder). The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.
OF OPTION. This Option shall become exercisable as follows:
(a) One-seventh (1/7) of the Shares covered by the said Option shall vest on November 22, 2001 ("Vesting Start Date"), and beginning with the date one year after the Vesting Start Date, one-seventh (1/7) of the Shares covered by said Option shall vest on the same day of each year-long period for the following six (6) years so that all of the Shares under this Option shall be fully vested Seven (7) years from the Grant Date (each of the foregoing dates shall be referred to as a "Vesting Date")
(b) Notwithstanding the above, the Shares which have not been vested ("Unvested Portion") shall be subject to accelerated vesting as follows:
OF OPTION. This Option shall become exercisable as follows: NUMBER OF SHARES VESTING DATE ---------------- ------------ 75,000 September 1, 1999 75,000 July 31, 2000 Each of the foregoing dates shall be referred to as a "Vesting Date" for that portion of this Option vested on such date ("Vested Portion"). All or any portion of the shares underlying a Vested Portion of this Option may be purchased during the term of this Option, but not as to less than 1,000 shares (unless the remaining shares then constituting the Vested Portion of this Option is less than 1,000 shares) at any time.
OF OPTION. The Option hereby granted shall vest only during the Optionee's continuous employment with the Corporation and/or any Parent and/or any Subsidiary, and shall be exercisable only upon and after such vesting and prior to its termination, by Optionee in accordance with the following schedule: 20% of the Option Shares Commencing on the first (1st) anniversary of the grant of the Option Additional 20% of Commencing on the second (2nd) the Option Shares anniversary of the grant of the Option Additional 20% of Commencing on the third (3rd) the Option Shares anniversary of the grant of the Option Additional 20% of Commencing on the fourth (4th) the Option Shares anniversary of the grant of the Option Additional 20% of Commencing on the fifth (5th) the Option Shares anniversary of the grant of the Option Notwithstanding the foregoing provisions of this Section IV, in the event of a Change in Control (as hereinafter defined) during the Optionee's employment with the Corporation and/or any Parent and/or any Subsidiary, the Option hereby granted shall vest with respect to all of the Option Shares immediately prior to such Change in Control.
OF OPTION. The COMMITTEE may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, the OPTION, prospectively or retroactively; provided that any such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination that would impair the rights of the OPTIONEE or any holder or beneficiary of the OPTION shall not to that extent be effective without the consent of the OPTIONEE, holder or beneficiary.
OF OPTION. This Option may not be transferred in any manner otherwise than by will or the laws of descent or distribution, or pursuant to a "qualified domestic relations order" (within the meaning of Section 414(p) of the Code and the regulations and rulings thereunder). The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee. Notwithstanding any other terms of this agreement, to the extent permissible under Rule 16b-3 of the Securities Exchange Act of 1934, as amended, this Option may be transferred to the Optionee's spouse, lineal ascendants, lineal descendants, or to a duly established trust, provided that such transferee shall be permitted to exercise this Option subject to the same terms and conditions applicable to the Optionee.