Option Exercise Price and Vesting Sample Clauses

Option Exercise Price and Vesting. Subject to the terms and conditions herein set forth and set forth in the Plan, the Company hereby grants to Optionee an option to purchase an aggregate number of Shares of the Company at the option price as follows: (a) An option to purchase a total of 60,000 Shares at the exercise prices set forth below. This Option shall vest and become exercisable in annual installments, the Optionee having the right hereunder to purchase from the Company, on and after the following dates (each such vesting period being hereinafter referred to as a "Vesting Year" and each such date being hereinafter referred to as a "Vesting Event"), the following number of Shares: July 1, Shares Exercise Price ------- ------ -------------- 1997 15,000 $ .80 1998 15,000 $4.00 1999 15,000 $5.00 2000 15,000 $6.00 (b) Notwithstanding the vesting and exercisability of any Option granted hereunder, without the prior written consent of the Company, Optionee may not sell, transfer, gift, pledge, hypothecate, assign or otherwise dispose of any Shares issuable thereunder or any right or interest therein granted under this Section 3, whether voluntary, by operation of law or otherwise, prior to the second anniversary of the Grant Date. (c) In the event that the Optionee's employment with the Company is terminated: (i) by the Company for cause (other than death or disability) as set forth in Section 5.1 of Optionee's Employment Agreement, then Optionee shall be entitled, for a period of one (1) year from the effective date of such termination, to exercise all Options which have vested and become exercisable pursuant to the provisions of Section 3 hereof, prior to the effective date of such resignation. All Options not so exercised shall terminate. (ii) (A) by the Company without cause or (B) by reason of the Optionee's death or disability, the Optionee (or, in the case of Optionee's death, the Optionee's estate or a person who acquired the right to exercise this Option by bequest or inheritance, or, in the case of disability, by the Optionee or his legal guardian or representative, as applicable) shall be entitled, for a period of five (5) years from the effective date of such termination (the "Post-Termination Exercise Period"), to exercise (x) all Options which have vested and become exercisable pursuant to the provisions of Section 3 hereof, prior to the effective date of such resignation and (y) a number of Options equal to the number of Options which would have vested and become exercisable ...
Sample 1
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Option Exercise Price and Vesting. Subject to the terms and conditions herein set forth and set forth in the Plan, the Company hereby grants to Optionee an option to purchase an aggregate number of Shares of the Company at the option price as follows: (a) An option to purchase a total of 268,000 Shares, of which (i) 110,000 shall have an exercise price of $.63 per share, 60,000 of which vested and were fully exercisable as of September 19, 1996, and 50,000 of which have vested and were fully exercisable as of September 19, 1997, and (ii) 158,000 shall have an exercise price of $.80 per share, all of which have vested and were fully exercisable as of September 19, 1997. (b) An option to purchase a total of 632,000 Shares at the exercise prices set forth below. This Option shall vest and become exercisable in annual installments, the Optionee having the right hereunder to purchase from the Company, on and after the following dates (each such vesting period being hereinafter referred to as a "Vesting Year" and each such date being hereinafter referred to as a "Vesting Event"), the following number of Shares:
Sample 1
Option Exercise Price and Vesting. Subject to the terms and conditions herein set forth and set forth in the Plan, the Company hereby grants to Optionee an option to purchase 60,000 Shares at an exercise price of $1.00 per share. This Option shall immediately vest and be exercisable.
Sample 1
Option Exercise Price and Vesting. Subject to the terms and conditions herein set forth and set forth in the Plan, the Company hereby grants to Optionee an option to purchase an aggregate number of Shares of the Company at the option price as follows: (a) An option to purchase a total of 152,000 Shares at the exercise prices set forth below. This Option shall vest and become exercisable in annual installments, the Optionee having the right hereunder to purchase from the Company, on and after the following dates (each such vesting period being hereinafter referred to as a "Vesting Year" and each such date being hereinafter referred to as a "Vesting Event"), the following number of Shares: September 19, Shares Exercise Price ------------- ------ -------------- 1997 38,000 $ .80 1998 38,000 $4.00 1999 38,000 $5.00 2000 38,000 $6.00 (b) Notwithstanding the vesting and exercisability of any Option granted hereunder, without the prior written consent of the Company, Optionee may not sell, transfer, gift, pledge, hypothecate, assign or otherwise dispose of any Shares issuable thereunder or any right or interest therein granted under this Section 3, whether voluntary, by operation of law or otherwise, prior to September 19, 1998. (d) In the event that the Optionee's employment with the Company is terminated: (i) by the Company for cause (other than death or disability) as set forth in Section 5.1 of Optionee's Employment Agreement, then Optionee shall be entitled, for a period of one (1) year from the effective date of such termination, to exercise all Options which have vested and become exercisable pursuant to the provisions of Section 3 hereof prior to the effective date of such resignation. All Options not so exercised shall terminate. (ii) (A) by the Company without cause or (B) by reason of the Optionee's death or disability, the Optionee (or, in the case of Optionee's death, the Optionee's estate or a person who acquired the right to exercise this Option by bequest or inheritance, or, in the case of disability, by the Optionee or his legal guardian or representative, as applicable) shall be entitled, for a period of five (5) years from the effective date of such termination (the "Post-Termination Exercise Period"), to exercise (x) all Options which have vested and become exercisable pursuant to the provisions of Section 3 hereof, prior to the effective date of such resignation and (y) a number of Options equal to the number of Options which would have vested and become exercisable on the Ves...
Sample 1

Related to Option Exercise Price and Vesting

  • Option Exercise Price The per share price to be paid by Optionee in the event of an exercise of the Option will be $ .

  • Option Exercisability The Option shall terminate immediately upon the Participant’s termination of Service to the extent that it is then unvested and shall be exercisable after the Participant’s termination of Service to the extent it is then vested only during the applicable time period as determined below and thereafter shall terminate.

  • Adjustment of Exercise Price and Number of Shares The number of and kind of securities purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:

  • Exercise Price The exercise price per share of Common Stock under this Warrant shall be $_____, subject to adjustment hereunder (the “Exercise Price”).

  • Payment of Exercise Price In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the Company in accordance with the terms of the Warrant.

  • Stock Option Exercise Agreement To exercise this Option, Participant (or in the case of exercise after Participant’s death or incapacity, Participant’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in the form attached hereto as Exhibit A, or in such other form as may be approved by the Committee from time to time (the “Exercise Agreement”), which shall set forth, inter alia, (i) Participant’s election to exercise the Option, (ii) the number of Shares being purchased, (iii) any restrictions imposed on the Shares and (iv) any representations, warranties and agreements regarding Participant’s investment intent and access to information as may be required by the Company to comply with applicable securities laws. If someone other than Participant exercises the Option, then such person must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the Option and such person shall be subject to all of the restrictions contained herein as if such person were the Participant.

  • Initial and Adjusted Exercise Price Except as otherwise provided in Section 8 hereof, the initial exercise price of each Warrant shall be $____ [120% of the initial public offering price] per share of Common Stock. The adjusted exercise price shall be the price which shall result from time to time from any and all adjustments of the initial exercise price in accordance with the provisions of Section 8 hereof.

  • Adjustments of Exercise Price and Number of Warrant Shares The number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the happening of any of the following. In case the Company shall (i) pay a dividend in shares of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding Common Stock, (ii) subdivide its outstanding shares of Common Stock into a greater number of shares, (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, or (iv) issue any shares of its capital stock in a reclassification of the Common Stock, then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that the Holder shall be entitled to receive the kind and number of Warrant Shares or other securities of the Company which it would have owned or have been entitled to receive had such Warrant been exercised in advance thereof. Upon each such adjustment of the kind and number of Warrant Shares or other securities of the Company which are purchasable hereunder, the Holder shall thereafter be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per Warrant Share or other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and dividing by the number of Warrant Shares or other securities of the Company resulting from such adjustment. An adjustment made pursuant to this paragraph shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event.

  • Minimum Adjustment of Exercise Price No adjustment of the Exercise Price shall be made in an amount of less than 1% of the Exercise Price in effect at the time such adjustment is otherwise required to be made, but any such lesser adjustment shall be carried forward and shall be made at the time and together with the next subsequent adjustment which, together with any adjustments so carried forward, shall amount to not less than 1% of such Exercise Price.

  • ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES The Exercise Price and the number of Warrant Shares shall be adjusted from time to time as follows:

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