Common use of OPTION TERM, TIMES OF EXERCISE Clause in Contracts

OPTION TERM, TIMES OF EXERCISE. The Option term shall end on April 28, 2002 which in no case shall be greater than ten years (five years if the Option is a 10% Optionee) from the date of grant of this Option. At the expiration of one year from the date of grant of the Option, the Optionee shall be entitled to exercise 25% of the shares of Common Stock covered by this Option and at the expiration of each year thereafter, the Optionee shall be entitled to exercise an additional 25% of said shares such that the Optionee shall be entitled to exercise 100% of upon expiration of four years from the date of grant of this Option.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Aml Communications Inc), Incentive Stock Option Agreement (Aml Communications Inc)

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OPTION TERM, TIMES OF EXERCISE. The Unless expired earlier pursuant to Section 3, the Option term shall end on April 28December 15, 2002 2005 which in no case shall be greater than ten years (five years if the Option is a 10% Optionee) from the date of grant of this OptionOption (the "Expiration Date"). At the expiration of one year from the date of grant of the Optiongrant, the Optionee shall be entitled to exercise 25% of the shares of Common Stock covered by this Option and at the expiration of each year thereafter, the Optionee shall be entitled to exercise an additional 25% of said shares such Common Stock covered by this Option such that the Optionee shall be entitled to exercise 100% of such Common Stock upon the expiration of four years from the date of grant of this Optiongrant.

Appears in 2 contracts

Samples: Stock Option Agreement (Aml Communications Inc), Stock Option Agreement (Aml Communications Inc)

OPTION TERM, TIMES OF EXERCISE. The Unless expired earlier pursuant to Section 3, the Option term shall end on April August 28, 2002 2006 which in no case shall be greater than ten years (five years if the Option is a 10% Optionee) from the date of grant of this OptionOption (the "Expiration Date"). At the expiration of one year from the date of grant of the Optiongrant, the Optionee shall be entitled to exercise 25% of the shares of Common Stock covered by this Option and at the expiration of each year thereafter, the Optionee shall be entitled to exercise an additional 25% of said shares such Common Stock covered by this Option such that the Optionee shall be entitled to exercise 100% of such Common Stock upon the expiration of four years from the date of grant of this Optiongrant.

Appears in 2 contracts

Samples: Stock Option Agreement (Aml Communications Inc), Stock Option Agreement (Aml Communications Inc)

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OPTION TERM, TIMES OF EXERCISE. The Unless expired earlier pursuant to Section 3, the Option term shall end on April 28, 2002 which in no case shall be greater than ten years ________________ (five years if the Option is a 10% Optionee) from the date of grant of this Option"Expiration Date"). At the expiration of one year from the date of grant of the Optiongrant, the Optionee shall be entitled to exercise 25_____% of the shares of Common Stock covered by this Option and at the expiration of each year thereafter, the Optionee shall be entitled to exercise an additional 25_____% of said shares such Common Stock covered by this Option such that the Optionee shall be entitled to exercise 100% of such Common Stock upon the expiration of four _______ years from the date of grant of this Optiongrant.

Appears in 1 contract

Samples: Nonemployee Director Stock Option Agreement (Aml Communications Inc)

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