Common use of Target Vesting Options Clause in Contracts

Target Vesting Options. This Option shall become exercisable with respect to up to 133,400 Shares (the “Annual Eligible Shares”) following the completion of each of the fiscal years ending December 31, 2004, 2005, 2006, 2007 and 2008 upon and to the extent of the Company’s attainment of the Targets set forth on Schedule I attached hereto and incorporated herein (“Schedule I”) in accordance with the other terms specified in Schedule I. As a point of clarification, if all of the Targets set forth on Schedule I attached hereto are met or exceeded, Options to purchase an aggregate of 667,000 Shares shall become exercisable following the completion of the applicable Target time periods pursuant to this subsection 3(b). Notwithstanding the foregoing, provided that (i) Optionee shall continue to be an employee, director or consultant of the Company or a Subsidiary, and (ii) the Company shall not have (A) merged or consolidated with another corporation or other entity, whether or not the Company is the surviving entity, or (B) liquidated or sold or otherwise disposed of all or substantially all of its assets to another entity, or (C) been subject to a Change in Control, then this Option shall become exercisable with respect to all of the Shares subject to vesting pursuant to this Section 3(b) (the “Target Vesting Options”) on the eighth (8th) anniversary of the Grant Date.

Target Vesting Options. This Option shall become exercisable with respect to up to 133,400 Shares (the “Annual Eligible Shares”) following the completion of each of the fiscal years ending December 31, 2004, 2005, 2006, 2007 and 2008 upon and to the extent of the Company’s attainment of the Targets set forth on Schedule I attached hereto and incorporated herein (“Schedule I”) in accordance with the other terms specified in Schedule I. As a point of clarification, if all of the Targets set forth on Schedule I attached hereto are met or exceeded, Options to purchase an aggregate of 667,000 Shares shall become exercisable following the completion of the applicable Target time periods pursuant to this subsection 3(b). Notwithstanding the foregoing, provided that (i) Optionee shall continue to be an employee, director or consultant of the Company or a Subsidiary, and (ii) the Company shall not have (A) merged or consolidated with another corporation or other entity, whether or not the Company is the surviving entity, or (B) liquidated or sold or otherwise disposed of all or substantially all of its assets to another entity, or (C) been subject to a Change in Control, then this Option shall become exercisable with respect to all of the Shares subject to vesting pursuant to this Section 3(b) (the “Target Vesting Options”) on the eighth (8th) anniversary of the Grant Date.

Target Vesting Options. This Option shall become exercisable with respect to up to 133,400 Shares (the “Annual Eligible Shares”) following the completion of each of the fiscal years ending December 31, 2004, 2005, 2006, 2007 and 2008 upon and to the extent of the Company’s attainment of the Targets set forth on Schedule I attached hereto and incorporated herein (“Schedule I”) in accordance with the other terms specified in Schedule I. As a point of clarification, if all of the Targets set forth on Schedule I attached hereto are met or exceeded, Options to purchase an aggregate of 667,000 Shares shall become exercisable following the completion of the applicable Target time periods pursuant to this subsection 3(b). Notwithstanding the foregoing, provided that (i) Optionee shall continue to be an employee, director or consultant of the Company or a Subsidiary, and (ii) the Company shall not have (A) merged or consolidated with another corporation or other entity, whether or not the Company is the surviving entity, or (B) liquidated or sold or otherwise disposed of all or substantially all of its assets to another entity, or (C) been subject to a Change in Control, then this Option shall become exercisable with respect to all of the Shares subject to vesting pursuant to this Section 3(b) (the “Target Vesting Options”) on the eighth (8th) anniversary of the Grant Date.

Target Vesting Options. This Option shall become exercisable with respect to up to 133,400 ____ Shares (the “Annual Eligible Shares”) following the completion of each of the fiscal years ending December 31, 2004_____, 2005_____, 2006_____, 2007 _____ and 2008 _____ upon and to the extent of the Company’s attainment of the Targets set forth on Schedule I attached hereto and incorporated herein (“Schedule I”) in accordance with the other terms specified in Schedule I. As a point of clarification, if all of the Targets set forth on Schedule I attached hereto are met or exceeded, Options to purchase an aggregate of 667,000 ____ Shares shall become exercisable following the completion of the applicable Target time periods pursuant to this subsection 3(b). Notwithstanding the foregoing, provided that (i) Optionee shall continue to be an employee, director or consultant of the Company or a Subsidiary, and (ii) the Company shall not have (A) merged or consolidated with another corporation or other entity, whether or not the Company is the surviving entity, or (B) liquidated or sold or otherwise disposed of all or substantially all of its assets to another entity, or (C) been subject to a Change in Control, then this Option shall become exercisable with respect to all of the Shares subject to vesting pursuant to this Section 3(b) (the “Target Vesting Options”) on the eighth (8th) anniversary of the Grant Date.