PERIOD OF Sample Clauses

PERIOD OF. IMPLEMENTATION

PERIOD OF. EXERCISABILITY Section 3.1 - Commencement of Exercisability ----------- ------------------------------ (a) This Option shall become exercisable in four (4) cumulative installments as follows: (i) The first installment shall consist of one-fourth (1/4) of the shares covered by the Option and shall become exercisable on the date that is one year from the date the Option was awarded. (ii) The second installment shall consist of one-fourth (1/4) of the shares covered by the Option and shall become exercisable on the date that is two years from the date the Option was awarded. (iii) The third installment shall consist of one-fourth (1/4) of the shares covered by the Option and shall become exercisable on the date that is three years from the date the Option was awarded. (iv) The fourth installment shall consist of one-fourth (1/4) of the shares covered by the Option and shall become exercisable on the date that is four years from the date the Option was awarded. (b) No portion of the Option which is unexercisable at Termination of Employment shall thereafter become exercisable.

PERIOD OF. Employment This Agreement will commence and be effective as of November 1, 1996, and shall expire and terminate as of October 31, 2000.

PERIOD OF execution

PERIOD OF. Cover The period of cover set out in the certificate of insurance. This will be a 12-month period

PERIOD OF apprenticeship

PERIOD OF. EXERCISABILITY ------------------------ SECTION 3.1 - COMMENCEMENT OF EXERCISABILITY -------------------------------------------- (a) Subject to Sections 3.1(b) and 3.4, the Option shall become exercisable in four (4) cumulative installments as follows: (i) The first installment shall consist of twenty-five percent (25%) of the shares covered by the Option and shall become exercisable on the first anniversary of the date the Option is granted. (ii) The second installment shall consist of twenty-five percent (25%) of the shares covered by the Option and shall become exercisable on the second anniversary of the date the Option is granted. (iii) The third installment shall consist of twenty-five percent (25%) of the shares covered by the Option and shall become exercisable on the third anniversary of the date the Option is granted. (iv) The fourth installment shall consist of twenty-five percent (25%) of the shares covered by the Option and shall become exercisable on the fourth anniversary of the date the Option is granted. (b) No portion of the Option which is unexercisable at Termination of Directorship shall thereafter become exercisable. Notwithstanding the foregoing, this Option shall become immediately exercisable in full upon any retirement of the Director in accordance with the Company's retirement policy applicable to directors, provided that in no event shall the shares underlying this Option be sold or otherwise disposed of, in whole or in part, during the six months after the date such Option is granted (or the date this Plan is approved by the Company's stockholders, if later). SECTION 3.2 - DURATION OF EXERCISABILITY ---------------------------------------- The installments provided for in Section 3.1 are cumulative. Each such installment which becomes exercisable pursuant to Section 3.1 shall remain exercisable until it becomes unexercisable under Section 3.3.

PERIOD OF. EXERCISABILITY Section 3.1. -

PERIOD OF. EXERCISABILITY -------------------------------------- 3.1 Commencement of Exercisability ------------------------------ -------------------- * Refer to the attached Notice (a) The Option will vest (become available for exercise) nine years and nine months from the date the Option was granted. However, if certain conditions are met, the Option will become eligible for accelerated or early vesting three years from the date the Option was granted or on subsequent anniversary dates thereafter. Such early or accelerated vesting will occur provided that the Company's return on total capital as reported in the annual report to shareholders (or other report) for the most recently completed fiscal year equals or exceeds the sixty-seventh (67%) percentile of the return on total capital for the peer group companies (as listed in the Company's proxy statement) for such third year (the performance test). (For example, the performance test for accelerated vesting for options granted in December 2002 will be based on the return on total capital for 2005). To facilitate the peer group performance comparison needed to determine whether option vesting is accelerated, the figures for peer group companies return on total capital will be based upon the twelve-month performance for each company in the peer group closest to the Company's fiscal year end, using the most recent publicly available financial information for such companies. If the Company meets the performance test described above, all prior non-vested Options eligible for accelerated vesting will become available for exercise as soon as possible following the Committee's certifications of the Company's performance as compared to the performance of the peer group companies. If the Company fails to meet the performance test described above, all prior non-vested Options eligible for accelerated vesting will be subject to a similar performance test following the end of the next fiscal year. The test for accelerated vesting of Options will continue to "roll" in the manner described above until the Company passes the performance test, until nine years and nine months have elapsed from the date of grant, or until such Options otherwise vest as described herein. Alternatively, Options, granted to employees as participants in the Long Term Incentive Plan, who (i) retire under the Company's retirement plan within sixty (60) days of the date of Termination of Employment, (ii) have worked for the Company for ten (10) or more ye...

PERIOD OF. EXERCISABLITY ------------------------ Section 3.1 - Vesting and Excercisability ----------- --------------------------