Shares Subject to Exercise. The Option shall be immediately exercisable and shall remain exercisable for the entire Term specified in Paragraph 2 of this Agreement.
Shares Subject to Exercise. Common Shares subject to exercise shall be one-third (1/3rd) of such Common Shares on April 4, 2005, an additional one-third (1/3rd) of such Common Shares on and after April 3, 2006 and the remaining one-third (1/3rd) of such Common Shares on and after April 2, 2007. All Common Shares shall thereafter remain subject to exercise for the term specified in Paragraph 2 hereof.
Shares Subject to Exercise. All 100,000 Options shall be immediately exercisable and shall thereafter remain subject to exercise for the term specified in Paragraph 2 hereof.
Shares Subject to Exercise. The ______ Options shall vest and be immediately exercisable, and shall thereafter remain subject to exercise for the term specified in Paragraph 2 hereof.
Shares Subject to Exercise. This Option shall be exercisable in installments as to ___________ of the number of Shares on the first ______ anniversary of the date hereof, as to ___________ of the number of Shares on the second ______ anniversary of the date hereof, and as to ___________ of the number of Shares on the third ______ anniversary of the date hereof provided, however, that an installment shall not become exercisable if the Optionee is not employed as an employee of the Company, or any of its subsidiaries, as of such anniversary date. Once exercisable, the Option shall thereafter remain exercisable as to such Shares for the term specified in Section 2 hereof, unless Optionee’s employment is terminated pursuant to Section 6 hereof or the Option is terminated pursuant to a Corporate Transaction (as defined in the Plan).
Shares Subject to Exercise. The 204,922 Options shall vest and be immediately exercisable, and shall thereafter remain subject to exercise for the term specified in Paragraph 2 hereof.
Shares Subject to Exercise. This Option shall be exercisable in equal installments of twenty-five percent (25%) of the Shares on and after each of the first four anniversaries of the date hereof, provided, however, that an installment shall not become exercisable if the Optionee is not employed as an employee, director, consultant or adviser of the Company, or its Affiliate, as of such anniversary date (except as otherwise provided for in Section 6 hereof). Once exercisable, the Option shall thereafter remain exercisable as to such Shares for the term specified in Section 2 hereof, unless Optionee's employment is terminated pursuant to Section 6 hereof or the Option is terminated pursuant to a Corporate Transaction. The Administrator may condition the exercise of the Option on the Optionee's entering into a stockholders agreement with the Company and/or other stockholders which will restrict the transferability of the Shares and contain other customary provisions including rights of repurchase or first refusal on the part of the Company and may include "drag along" rights.
Shares Subject to Exercise. Common Shares subject to exercise shall be one-third (1/3) of such Common Shares on or after April 29, 2011, one-third (1/3) of such Common Shares on or after April 29, 2012 and one-third (1/3) of such Common Shares on or after April 29, 2013. All Common Shares shall thereafter remain subject to exercise for the term specified in Paragraph 2 hereof. Upon the merger or consolidation of the Company, or an event in which more than 50% of the Company’s voting capital stock is acquired by one or more individuals acting as a “group” within the meaning of Section 13 of the Securities Exchange Act of 1934, as amended, then all of the Common Shares underlying the Option shall immediately become exercisable.
Shares Subject to Exercise. The Option shall be immediately exercisable -------------------------- and shall remain exercisable for the entire Term specified in paragraph 2 of this Agreement. Payment of the Exercise Price of the Option Shares being purchased, may be made by a cashless exercise procedure whereby the Option Shares issued upon exercise of the Option will be sold with the Grantee receiving the difference between the Exercise Price and the sale price, in cash, and the Company receiving the Exercise Price for the Option Shares, in cash.
Shares Subject to Exercise. Shares subject to exercise shall be 25% of such Shares on and after the first anniversary of the date hereof, 25% of such Shares on and after the second anniversary of the date hereof, 25% of such Shares on and after the third anniversary of the date hereof and 25% of such Shares on and after the fourth anniversary of the date hereof. All Shares shall thereafter remain subject to exercise for the term specified in Paragraph 2 hereof, provided that Optionee is then and has continuously been in the employ of or providing services to the Company, or its Affiliates, subject, however, to the provisions of Paragraph 6 hereof.
