Restriction on Exercisability Clause Samples
Restriction on Exercisability. Notwithstanding Section 2 of Exhibit A to the Agreement and any other provision of the Agreement or the Plan, the Optionee will not be permitted to exercise his or her Option until and unless the necessary approvals for the Plan have been obtained from the State Administration of Foreign Exchange (“SAFE”) and remain in place, as determined by the Company in its sole discretion.
Restriction on Exercisability. Except as otherwise provided in Section 3(b), the Shares subject to the Initial Option shall not be exercisable until the later of (A) the third (3rd) anniversary of the Award Date and (B) the date that such Shares vest in accordance with the terms of this Agreement.
Restriction on Exercisability. The portion of the Option subject to the Deferral Election shall not be exercisable during the period beginning with the Election Date and ending on the day immediately prior to the six-month anniversary of the Election Date (or if there is no corresponding date in the sixth calendar month after the Election Date, the six-month anniversary shall be deemed to be the first day of the seventh calendar month after the Election Date); provided, however, that, if, prior to such six-month anniversary, either (i) the Grantee's employment with the Corporation and all of its subsidiaries terminates for any reason or (ii) the Compensation Committee of the Board of Directors of the Company (the "Committee") so determines, then the restriction set forth in the preceding portion of this Section 2 shall be canceled, and the portion of the Option which had been subject to the Deferral Election shall become exercisable (to the extent that it would have otherwise have been exercisable in the absence of such restriction).
Restriction on Exercisability. (a) Notwithstanding anything to the contrary contained herein, the SAR shall not be exercisable, in whole or in part, prior to the date (the “Exercisability Date”) that is the later of:
(i) the date the Company’s stockholders approve the Plan; and
(ii) the last of any seven Valuation Dates, within any period of 10 or fewer consecutive Valuation Dates that commence after the Grant Date and prior to the end of the Term, on each of which the Common Stock Market Value is equal to or greater than the Strike Price (subject to proportionate adjustment for stock splits, stock dividends, stock combinations and similar events after the Grant Date) (the “Exercise Threshold”); ; provided that, to the extent that the SAR would, but for the provisions of this Paragraph 4(a), have become exercisable prior to the Exercisability Date, the SAR shall, on the Exercisability Date, become exercisable with respect to all of the SAR Shares with respect to which this SAR would otherwise have become exercisable prior to the Exercisability Date pursuant to Paragraph 3.
(b) For purposes of the Agreement, the following terms have the following meanings:
(i) “Affiliate,” as applied to any Person, means any other Person controlling, controlled by, or under common control with, that Person. For the purposes of this definition, “control” means the possession of 10% or more of the voting stock or equity interests of such Person.