Common use of OF OPTION Clause in Contracts

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 February 4, 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:

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Aremissoft Corp /De/), Nonqualified Stock Option Agreement (Aremissoft Corp /De/)

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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 February 4November 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:

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Aremissoft Corp /De/), Nonqualified Stock Option Agreement (Aremissoft Corp /De/)

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