Term and Delayed Vesting Clause Samples

Term and Delayed Vesting. The right to exercise this option shall commence on the Grant Date shown above and shall terminate on the Expiration Date shown above, unless earlier terminated under the Plan by reason of termination of employment. Grantee's right to exercise this option shall vest at the rate of twenty-five percent per year, as follows: twenty-five percent of the shares shall vest on the date of this Agreement, and twenty-five percent of the shares optioned under this Agreement shall vest at the end of the first, second, and third years following the date of this Agreement, respectively. The Committee may, in its sole discretion, accelerate the vesting of the option at any time before full vesting; provided, however, that if any such acceleration would cause a portion of the option not to qualify as an incentive stock option, the Committee may divide the option and stock issued upon exercise into incentive stock option shares and nonqualified option shares.

Term and Delayed Vesting. Right to exercise this option begins on the Grant Date shown above and shall terminate on the Expiration Date shown above, unless earlier terminated under the Plan by reason of termination of employment or officer status. The Grantee's right to exercise this option shall vest as follows: ______ shares of the shares granted at the time of this Agreement immediately, ______ shares of the shares granted on the ______ anniversary date of this Agreement, ______ shares of the shares granted on the ______ anniversary date of this Agreement and the remaining ______ shares of the shares granted on the ______ anniversary date of this Agreement. The Committee may, in its sole discretion, accelerate vesting of the option at any time before full vesting.

Term and Delayed Vesting. The right to exercise this option shall commence on the Grant Date shown above and shall terminate ten years after the date of the Agreement, unless earlier terminated under the Plan by reason of termination of employment. Grantee's right to exercise this option shall vest as follows: (▇) [▇▇mber of shares] shares shall vest on the date of this Agreement, (b) [number of shares] shares shall vest on [date], and (c) [number of shares] shares shall vest on [date]. The Committee may, in its sole discretion, accelerate the vesting of the option at any time before full vesting; PROVIDED, HOWEVER, that if any such acceleration would cause a portion of the option not to qualify as an incentive stock option, the Committee may divide the option and stock issued upon exercise into incentive stock option shares and nonqualified option shares.

Term and Delayed Vesting. The right to exercise this option shall vest as described below and shall terminate on the Expiration Date shown above, unless earlier terminated under the Plan by reason of termination of employment or officer status. Grantee's right to exercise this option shall vest as follows: __% of the shares subject to this option will vest on each anniversary date of the Grant Date (set forth above) beginning on the first anniversary of the Grant Date. The Committee may, in its sole discretion, accelerate the vesting of the option at any time before full vesting.

Term and Delayed Vesting. Grantee's conditional right to exercise this option shall vest at a rate of one-fifth per year beginning on the first anniversary of the Grant Date set forth above, in each case appropriately rounded to the closest whole share except that the total shall be as set forth above. The Committee may, in its sole discretion, accelerate the vesting of the option at any time before full vesting. Grantee's right to exercise this option shall terminate on the Expiration Date set forth above, unless earlier terminated as set forth in the Plan or this Agreement.

Term and Delayed Vesting. The right to exercise this option according to its terms shall commence on the date of this Agreement, subject to vesting provided below, and shall terminate ten (10) years after the date set forth above, unless earlier terminated under the Plan by reason of termination of employment. Grantee's right to exercise this option shall vest as follows: 1,500 shares on October 13, 1994, and a further 1,500 shares on October 13, 1995, October 13, 1996, October 13, 1997, October 13, 1998, October 13, 199, and October 13, 2000. On and after October 13, 2000, this option shall be exercisable in full for the remainder of its term. If the Grantee's employment is terminated by reason of death or by Country Fresh other than for cause or by Grantee for good reason, all unexercised options shall vest and be immediately exercisable.