Right to Exercise Option. 3.1 The right to exercise the Option shall terminate forthwith upon the Employee ceasing to be an employee of a Group Company except in the following cases:
3.1.1 if the Employee dies the Option may be exercised by his personal representatives within twelve months of the date of death to the extent to which it could have been (but had not been) exercised under clause 3.4 on such date;
3.1.2 if the Employee ceases to be an employee of a Group Company by reason of:
3.1.2.1 injury or disability (evidenced to the satisfaction of the Board); or
3.1.2.2 retirement at state or contractual retirement age including late retirement; or
3.1.2.3 termination of employment (other than proper dismissal upon his failure to comply with the terms of his employment) provided that the Employee has been an employee of a Group Company for not less than two years; the Option may be exercised within six months of the date of the Employee so ceasing to be such an employee to the extent to which it could have been (but had not been) exercised under clause 3.4 on such date.
3.2 The right to exercise the Option shall terminate forthwith upon the Employee being adjudicated bankrupt.
3.3 The Option shall be personal to the Employee and may not be transferred, assigned or charged.
3.4 Except where the Option is exercised pursuant to clause 5 the Option may only be exercised as follows:
3.4.1 as to the first 25% of the Option Shares after 20th December, 2000;
3.4.2 as to a further 25% of the Option Shares after 20th December, 2001;
3.4.3 as to a further 25% of the Option Shares after 20th December, 2002;
3.4.4 as to the balance of 25% of the Option Shares after 20th December, 2003.
3.5 The Option may not be exercised within six months of a previous exercise of the Option but such period shall be reduced to three months if the Employee shall have ceased to be an employee of a Group Company (or have been given or have given notice of termination of his employment) but remains entitled under the terms of this Agreement to exercise the Option.
3.6 The Option shall lapse on the earliest of the following dates:
3.6.1 the seventh anniversary of the date of this Agreement.
3.6.2 the date on which the Employee ceases to be an employee of a Group Company in circumstances other than those specified in clause 3.1.
3.6.3 the date on which a resolution is passed or an order is made for the Company to be wound up.
3.6.4 the date on which the Employee is adjudicated bankrupt.
3.6.5 the date on which the...
Right to Exercise Option. Subject to all applicable laws, rules, regulations and the terms of the Plan and this Agreement, Employee may exercise the Option at such time or times and to the extent the Option has become vested and exercisable, as specified on the cover page hereto, and prior to or on the applicable Stated Expiration Date of the Option (but not after any termination, forfeiture or expiration of the Option prior to the Stated Expiration Date).
Right to Exercise Option. Unless otherwise indicated in the Notice, the Optionee may purchase from the Corporation on and after the first anniversary of the date of grant, 25% of the shares covered by this option, and on each succeeding one year anniversary thereof may exercise an additional 25% of the shares covered by the option, so that on the fourth anniversary of the date of grant this option shall be fully exercisable. To the extent not exercised, installments shall accumulate and the Optionee may exercise them in whole or in part in any subsequent period. Unless a shorter period is specified in the Notice under the "Expiration" column, and notwithstanding any provision of this Agreement, no portion of this option shall be exercisable on or after the tenth anniversary of the date of grant. The Committee (as defined in the Plan), in its sole discretion, may accelerate the time at which this option may be exercised in whole or in part.
Right to Exercise Option. You may exercise the Option only after the time and to the extent the Option has become vested and exercisable and prior to the Expiration Date or other termination or forfeiture of the Option.
Right to Exercise Option. Unless otherwise indicated in the Notice, the Optionee may purchase from the Company on and after the first (1st) anniversary of the date of grant, 25% of the shares covered by this option, and on each succeeding one year anniversary thereof, may exercise an additional 25% of the shares covered by the option, so that on the fourth (4th) anniversary of the date of grant this option shall be fully exercisable. Unless a shorter period is specified in the Notice under the "Expiration" column, and notwithstanding any provision of this Agreement, no portion of this option shall be exercisable on or after the tenth (10th) anniversary of the date of grant.
Right to Exercise Option. Subject to all applicable laws, rules, regulations and the terms of the Plan and this Agreement, Grantee may exercise the Option at such time or times and to the extent the Option has become vested and exercisable, as specified on the cover page hereto, and prior to or on the applicable Stated Expiration Date of the Option (but not after any termination, forfeiture or expiration of the Option prior to the Stated Expiration Date).
Right to Exercise Option. Unless otherwise indicated in this Agreement, you may purchase from the Corporation on and after the first anniversary of the date of grant, one-third (1/3rd) of the shares covered by the Option, and on each succeeding one year anniversary thereof may exercise an additional one-third (1/3rd) of the shares covered by the Option, and on the third anniversary of the date of grant the Option shall be fully exercisable. To the extent not exercised, installments shall accumulate and you may exercise them in whole or in part in any subsequent period.
Right to Exercise Option. (a) Subject to the other terms of this Agreement and the Plan, the Option may be exercised on or after the dates indicated below as to that percentage of the total shares of Stock subject to the Option as set forth below opposite each such date, plus any shares of Stock as to which the Option could have been exercised previously, but was not so exercised: Date Percentage ---- ---------- [INSERT DATE] [INSERT PERCENTAGE] [INSERT DATE] [INSERT PERCENTAGE] [INSERT DATE] [INSERT PERCENTAGE] [INSERT DATE] [INSERT PERCENTAGE]
(b) Notwithstanding Section 2(a) of this Agreement, in the event of a Change in Control, 100% of the Stock subject to the Option shall become fully exercisable immediately prior to a Change in Control event.
Right to Exercise Option. The Option hereby granted may not be exercised immediately upon the grant hereof, and shall remain exercisable until exercised or until the expiration of the Option (as hereinafter provided), whichever occurs first. Any provision of this Agreement notwithstanding, this Option shall not be exercisable on or after [10 years after the date of grant], on which date all Options hereunder shall expire.
Right to Exercise Option. EXAMPLE Any default under a deed of trust, including the Institutional First Deed of Trust, shall trigger the City's right to exercise its option to purchase the Property, as described more fully in Section XIV below, and the City may exercise its option to purchase the Property pursuant to such provisions.
