Rights to Exercise. The Holder shall have the right (but not the obligation) to exercise the Warrant to receive the Warrant Stock (subject to adjustment as hereinafter provided) at any time on or before August 30, 2006.
Rights to Exercise. The Holder shall have the right (but not the obligation) to exercise the Warrant to receive the Warrant Stock (subject to adjustment as hereinafter provided) at any time on or before ten years from date of this grant.
Rights to Exercise. The rights to exercise this Option shall vest with respect to 5,333,333 shares of Common Stock immediately, with respect to an additional 5,333,333 shares of Common Stock on August 4, 2009, and with respect to the remaining 5,333,334 shares of Common Stock on August 4, 2010.
Rights to Exercise. (a) The rights to exercise the Original Option and the Bonus Option shall vest - (i) as to 329,083 shares, on June 1, 2006; (ii) as to an additional 329,083 shares, on June 1, 2007; and (iii) as to the balance of 329,083 shares , on June 1, 2008.
(b) The right to exercise the Employment Contract Option shall vest in the following manner -
(i) as to 180,678 shares of GDI Common Stock when (A) the price (if the stock is traded in a NASDAQ market or on a national exchange) or bid price (if quoted in an OTC market) per share of Common Stock in each of twenty (20) continuous trading days meets $0.476 and (B) the average daily trading volume during such twenty (20) day period is at least 179,500 shares;
(ii) as to an additional 180,678 shares of GDI Common Stock when (A) the price (if the stock is traded in a NASDAQ market or on a national exchange) or bid price (if quoted in an OTC market) per share of Common Stock in each of twenty (20) continuous trading days meets $0.635 and (B) the average daily trading volume during such twenty (20) day period is at least 179,500 shares; and
(iii) as to the balance of 180,678 shares of GDI Common Stock, when (A) the price (if the stock is traded in a NASDAQ market or on a national exchange) or bid price (if quoted in an OTC market) per share of Common Stock in each of twenty (20) continuous trading days meets $0.794 and (B) the average daily trading volume during such twenty (20) day period is at least 179,500 shares;
(c) Except as expressly provided below and in the Employment Agreement, as from time to time amended, the Optionee's non-vested rights to exercise the Employment Agreement Option or any part thereof shall terminate upon his ceasing to be employed by the Corporation or any of its affiliates or any of their respective successors in interest, for any reason including death or disability.
Rights to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule and Exercise Price set forth in the Notice of Grant and the applicable provisions of this Option Agreement. In the event of Optionee's death, Disability or other termination of Optionee's employment relationship, the exercisability of the Option shall be governed by the applicable provisions of the Employment Agreement dated the date hereof between the Optionee and the Company (the "Employment Agreement").
Rights to Exercise. The Option shall vest in ten (10) monthly installments of [NO. OF SHARES] shares, commencing on [START DATE] and ending on [END DATE]
Rights to Exercise. (a) The rights represented by this Warrant may be exercised at any time on or after the first anniversary of the Effective Date and up through the Expiration Date, in whole or in part, by (i) the surrender of this Warrant (with the purchase form attached hereto as Exhibit A properly executed) at the principal executive office of the Company (or such other office or agency of the Company as it may designate by notice in writing to the Holder at the address of the Holder appearing on the books of the Company); and (ii) payment to the Company of the exercise price then in effect (subject to the provisions of subsection (c) below) for the number of shares specified in the above-mentioned purchase form together with applicable stock transfer taxes, if any. All payments under this Warrant may be made by cash (including wire transfer), check or cancellation of indebtedness. This Warrant shall be deemed to have been exercised, in whole or in part to the extent specified, immediately prior to the close of business on the date this Warrant is surrendered and payment is made in accordance with the foregoing provisions of this Section 2, and the person or persons in whose name or names the certificates for the shares shall be issuable upon such exercise shall become the holder or holders of record or such shares at that time and date. The shares and the certificates for the shares so purchased shall be delivered to the Holder within a reasonable time, not exceeding two (2) business days, after the rights represented by this Warrant shall have been so exercised.
Rights to Exercise. (i) This option shall be exercisable as follows:
(a) five thousand (5,000) shares shall vest and be exercisable on the first anniversary date of the date hereof; and
(b) an additional five thousand (5,000) shares shall vest and be exercisable on the second anniversary date of the date hereof; and
(c) an additional five thousand (5,000) shares shall vest and be exercisable on the third anniversary date of the date hereof.
(ii) This Option may not be exercised for a fraction of a share.
(iii) In the event of Optionee's other termination of employment, disability or death, the exercisability of the Option is governed by Section 9 of the Plan.
Rights to Exercise. (a) The Option may not be exercised before __________, 199_. Thereafter, subject to the provisions of this Agreement, the Option shall be exercisable only as follows: Additional Vesting Period % Available Total % Available ---------------------- ----------- ----------------- On or after __________ but before __________ _____% _____% On or after __________ but before __________ _____% _____% On or after __________ but before __________ _____% _____% On or after __________ _____% _____%
(b) If the Employee ceases to be an employee of the Company or any of its subsidiaries by reason of his death or disability (as defined below) or by reason by his termination by the Company without Cause (as defined in the Shareholders' Agreement among the Company and its shareholders dated as of July 31, 1992), in addition to the portion of the Option which is vested and exercisable on the date of such termination under subparagraph (a) above, the Employee (or in the case of death, the Employee's designated beneficiaries) shall be entitled to exercise the Option to acquire a portion of the Shares available for the Vesting Period during which the Employee ceases to be an employee as is equal to the product obtained by multiplying the number of such Shares by a fraction, the numerator of which is the number of days elapsed from _________ of the applicable Vesting Period to the date on which the termination occurred, and the denominator of which is 365.
(c) Notwithstanding the foregoing, in the case of any Change in Control (as hereinafter defined) of the Company, the exercisability of the Option, notwithstanding any limitations in the Plan or in this Agreement, will automatically and fully vest upon the occurrence of such Change in Control. A "Change in Control" shall be deemed to have occurred if any person, or any two or more persons acting as a group, and all affiliates of such person or persons, who prior to such time owned less than fifty percent (50%) of the then outstanding Common Stock of the Company, shall acquire such additional shares of the Company's Common Stock in one or more transactions, or series of transactions, such that following such transaction or transactions, such person or group and affiliates beneficially own fifty percent (50%) or more of the Company's Common Stock outstanding.
Rights to Exercise. (a) The Option may not be exercised before __________, 199_. Thereafter, subject to the provisions of this Agreement, the Option shall be exercisable only as follows:
