Option Period; Exercisability. The Option may be exercised in whole shares during the period commencing on the Date of Grant and terminating on the Date of Expiration, as follows:
(a) no part of the Option may be exercised until December 31, 2013;
(b) beginning December 31, 2013, the Option may be exercised as to thirty three and one-third percent (33-1/3%) of the Covered Shares;
(c) beginning on December 31, 2014, the Option may be exercised as to an additional thirty three and one-third percent (33-1/3%) of the Covered Shares; and
(d) beginning on December 31, 2015, the Option may be exercised as to all of the Covered Shares. Notwithstanding the foregoing, if the Optionee’s Service is terminated by the Company without Cause or by the Optionee for Good Reason, the Option may be exercised, to the extent not previously exercised, as to a number of Covered Shares equal to (a) total number of Covered Shares multiplied by (b) (i) the number of days elapsed between January 1, 2013 and the termination date, plus (ii) ninety (90) days, divided by (c) one thousand ninety-six (1,096) days. By way of example, if Optionee’s Service is terminated by the Company without Cause or by the Optionee for Good reason on the date that is five hundred (500) days after January 1, 2013, the Option will be exercisable as to 53.88% (590/1096) of the Covered Shares minus any shares as to which the Option previously has been exercised. In the event of a Change of Control or termination of the Optionee’s Service by reason of Disability or death, the Option shall thereupon become exercisable at any time prior to the Date of Expiration, as to the full number of Covered Shares.
Option Period; Exercisability. The Option may be exercised in whole shares during the period commencing on the Date of Grant and terminating on the Date of Expiration, as follows:
(a) no part of the Option may be exercised until the first anniversary of the Date of Xxxxx;
(b) beginning on the first anniversary of the Date of Xxxxx, the Option may be exercised as to thirty-three and one-third percent (33-1/3%) of the Covered Shares;
(c) beginning on March 9, 2019, the Option may be exercised as to an additional thirty-three and one-third percent (33-1/3%) of the Covered Shares; and
(d) beginning on March 9, 2020, the Option may be exercised as to all of the Covered Shares. Notwithstanding the foregoing, if, after the first anniversary of the Date of Grant, (I) Optionee’s Service ends as a result of Optionee’s death or Disability, then the Option may be exercised to the extent not previously exercised, as to a number of Covered Shares equal to (a) the total number of Covered Shares multiplied by (b) (i) the number of days elapsed between the Date of Grant and the termination date, divided by (c) one thousand ninety-six (1,096); or (II) the Optionee’s Service is terminated by the Company without Cause or by the Optionee for Good Reason, then the Option may be exercised, to the extent not previously exercised, as to a number of Covered Shares equal to (a) total number of Covered Shares multiplied by (b) (i) the number of days elapsed between the Date of Grant and the termination date, plus (ii) ninety (90) days, divided by (c) one thousand ninety-six (1,096) days; by way of example, if Optionee’s Service is terminated by the Company without Cause or by the Optionee for Good reason on the date that is five hundred (500) days after the date of Grant, the Option will be exercisable as to 53.83% (590/1096) of the Covered Shares minus any shares as to which the Option previously has been exercised. In the event of a Change of Control on or after the first anniversary of the Grant Date, but prior to (x) termination of Participant’s Service, and (y) the third anniversary of the Date of Grant, the Option will be exercisable as as described in Section 13.2 of the Company’s Amended and Restated 2013 Stock Incentive Plan. If Optionee’s Service is terminated by the Company without Cause or by the Optionee for Good Reason within 180 days prior to a Change of Control occurring on or after the first anniversary of the Grant Date, the Option will be exercisable as to all of the Covered Shares immediately p...
Option Period; Exercisability. The Option may be exercised in whole shares during the period commencing on the Date of Grant and terminating on the Date of Expiration, as follows:
(a) [no part of the Option may be exercised prior to the six month anniversary of the Date of Grant or at any time after the Date of Expiration;
(b) beginning on the six month anniversary of the Date of Xxxxx, the Option may be exercised as to a maximum of 12.5% of the Covered Shares; and
(c) beginning on the first day of each three month anniversary thereafter, the Option may be exercised as to an additional 6.25% of the Covered Shares until the Option is exercisable as to all of the Covered Shares.] In no event shall the number of Covered Shares as to which the Option is exercisable increase after termination of the Optionee’s Service, except as may be expressly provided in any written employment agreement entered into between the Company and the Optionee.
Option Period; Exercisability. The Option may be exercised in whole shares during the period commencing on the Date of Grant and terminating on the Date of Expiration, as follows:
(a) no part of the Option may be exercised during the six (6) months following the Date of Grant or at any time after the Date of Expiration;
(b) beginning on the first anniversary after the Date of Xxxxx, the Option may be exercised as to a maximum of six-forty-eighth (6/48th) of the Covered Shares;
(c) beginning on the first day of each month thereafter, the Option may be exercised as to an additional one-forty-eighth (1/48th) of the Covered Shares until the Option is exercisable as to all of the Covered Shares. Notwithstanding the foregoing, in the event that within two (2) years following a Change in Control the Optionee’s Service is terminated by the Company and/or its Affiliates without Cause or the Optionee terminates the Optionee’s Service for Good Reason or in the event of termination of the Optionee’s Service by reason of Disability or death, the Option shall thereupon become exercisable at any time prior to the Date of Expiration, as to the full number of Covered Shares. In no event shall the number of Covered Shares as to which the Option is exercisable increase after termination of the Optionee’s Service.
Option Period; Exercisability. The Option may be exercised in whole shares during the period commencing on the Date of Grant and terminating on the Date of Expiration, as follows:
(a) beginning on the Date of Gxxxx, the Option may be exercised as to a maximum of twenty-five percent (25%) of the Covered Shares;
(b) beginning on each anniversary of the Date of Grant, the Option may be exercised as to an additional twenty-five percent (25%) of the Covered Shares until the Option is exercisable as to all of the Covered Shares. Notwithstanding the foregoing, upon a Change of Control, the Option shall thereupon become exercisable at any time prior to the Date of Expiration, as to the full number of Covered Shares. In no event shall the number of Covered Shares as to which the Option is exercisable increase after termination of the Optionee’s Service.
Option Period; Exercisability. (a) The Option may be exercised in whole Shares, as follows:
(i) no part of the Option may be exercised during the first 12 months following the Effective Grant Date or, except as provided in Section 3.1(b), at any time after the Date of Expiration;
(ii) beginning on the first anniversary after the Effective Grant Date, the Option may be exercised as to a maximum of 25% of the Covered Shares; and
(iii) beginning on the last day of each three-month period ending thereafter, the Option may be exercised as to an additional 1/16 of the Covered Shares until (i) the Option is exercisable as to all of the Covered Shares or (ii) if earlier, the Date of Expiration.
(b) Notwithstanding Section 3.1(a)(i), the portion of the Option that is exercisable on the date of the termination of the Optionee’s Service for any reason other than by the Company or an Affiliate for Cause shall remain exercisable until the earlier of:
(i) 30 days after such termination of the Optionee’s Service other than by death or Disability;
(ii) one year after such termination of the Optionee’s Service other than by death or Disability if the Optionee dies within 30 days of such termination;
(iii) three years after termination of the Optionee’s Service by reason of death or Disability; or
(iv) ten years after the Date of Xxxxx.
Option Period; Exercisability. The Option may be exercised in whole shares during the period commencing on the Date of Grant and terminating on the Date of Expiration, as follows:
(a) beginning on the first anniversary after the Date of Grant, the Option may be exercised as to a maximum of thirty-four percent (34%) of the Covered Shares;
(b) beginning on the first day of each month thereafter, the Option may be exercised as to an additional sixteen and one-half percent (16.5%) of the Covered Shares until the Option is exercisable as to all of the Covered Shares. Notwithstanding the foregoing, in the event of a Change of Control, or in the event of termination of the Optionee’s Service by reason of Disability, Retirement, or Death, the Option shall thereupon become exercisable at any time prior to the Date of Expiration, as to the full number of Covered Shares. In no event shall the number of Covered Shares as to which the Option is exercisable increase after termination of the Optionee’s Service.
Option Period; Exercisability. The Option may be exercised in whole shares during the period commencing on the Date of Grant and terminating on the Expiration Date set forth above.
Option Period; Exercisability. The Option may be exercised in whole shares during the period commencing on the Date of Grant and terminating on the Date of Expiration, as follows:
(a) no part of the Option may be exercised during the six (6) months following the Date of Grant or at any time after the Date of Expiration;
(b) beginning on the date six (6) months after the Date of Xxxxx, the Option may be exercised as to a maximum of fifty percent (50%) of the Covered Shares;
(c) beginning on the date of the next annual meeting of stockholders thereafter, the Option may be exercised as to all of the Covered Shares. Notwithstanding the foregoing, upon a Change in Control, the Option shall thereupon become exercisable at any time prior to the Date of Expiration, as to the full number of Covered Shares. In no event shall the number of Covered Shares as to which the Option is exercisable increase after termination of the Optionee’s Service.
Option Period; Exercisability. The Option may be exercised in whole shares as follows: no part of the Option may be exercised during the first year following the Date of Grant or at any time after the Date of Expiration; beginning on the first anniversary of the Date of Xxxxx, the Option may be exercised as to a maximum of one-third of the Covered Shares (rounded up to the next whole number of shares); beginning on the second anniversary of the Date of Xxxxx, the Option may be exercised as to an additional one-third of the Covered Shares (rounded down to the next whole number of shares); and beginning on the third anniversary of the Date of Xxxxx, the Option may be exercised as to all of the Covered Shares. Notwithstanding the foregoing, in the event of a Change in Control or termination of the Director’s membership on the Board by reason of Disability or death, the Option shall thereupon become exercisable at any time prior to the Date of Expiration as to the full number of Covered Shares. In no event shall the number of Covered Shares as to which the Option is exercisable increase after termination of the Director’s membership on the Board.
