TERM AND EXERCISE OF OPTIONS. 8.1 Options shall be exercised by the Optionee by giving written notice to the Company, in such form and method as may be determined by the Company, which exercise shall be effective upon receipt of such notice by the Company at its principal office. The notice shall specify the number of Shares with respect to which the Option is being exercised.
TERM AND EXERCISE OF OPTIONS. (a) Each Converted Option shall be exercisable as to an Optioned Share at any time beginning on the date of this Agreement and ending on the Applicable Expiration Date for such Optioned Share; PROVIDED, HOWEVER, that the Converted Option shall be subject to earlier expiration as provided in section 2(f) hereof.
TERM AND EXERCISE OF OPTIONS. 5.1 Options shall be exercised by the Optionee by giving written notice and the payment of the purchase price to the Company, in such form and method as may be determined by the Company and when applicable, by the trustee appointed under Section 102 (the "Trustee") in accordance with the requirements of Section 102, which exercise shall be effective upon receipt of such notice by the Company and the payment of the Purchase Price at its principal office. The notice shall specify the number of Shares with respect to which the Option is being exercised.
TERM AND EXERCISE OF OPTIONS. The Options shall remain ---------------------------- outstanding (subject to the vesting and exercisability provisions provided herein) for a period of ten (10) years beginning on the Date of Grant (the "Option Term"). Twenty percent (20.0%) of the Options shall vest on the Date of Grant and an additional twenty percent (20.0%) shall vest on each of the first, second, third and fourth anniversaries of the Date of Grant, so long as the Employee remains continually employed by the Company from the effective date of this Agreement through such date of vesting.
TERM AND EXERCISE OF OPTIONS. The Options shall remain outstanding ---------------------------- (subject to the vesting and exercisability provisions provided herein) during a period of six (6) years beginning on the Date of Grant (the "Option Term"). So long as the Employee remains continually employed by the Company from the date hereof through the date of vesting, the Options shall vest as follows: Options to acquire 33,334 shares shall vest on January 31, 1997, Options to acquire 33,333 shares shall vest on January 31, 1998, and Options to acquire the remaining 33,333 shares shall vest on January 31, 1999. Except as otherwise provided in Section 5 hereof, Options that have vested shall remain exercisable in whole at any time or in part and from time to time until the earlier to occur of the expiration of the Option Term and the expiration of one year after the date of the termination of the Employee's employment with the Company. The Employee shall not have any rights to dividends or any other rights of a stockholder of the Company with respect to any shares of Common Stock underlying the Options until such shares have been issued to him upon the exercise of the Options.
TERM AND EXERCISE OF OPTIONS. The Options shall ----------------------------- remain outstanding (subject to the vesting and exercisability provisions provided herein) for a period of ten (10) years beginning on the Date of Grant (the "Option Term"). Twenty percent (20.0%) of the Options shall vest on each anniversary date of this grant in the years 1997,1998, 1999, 2000 and 2001, so long as the Employee remains continually employed by the Company from the effective date of this Agreement through such date of vesting. Except as otherwise provided in Section 5 hereof, Options that have vested shall remain exercisable in whole or in part at any time, and from time to time, until the earlier to occur of the expira tion of the Option Term and the expiration of ninety (90) days after the date of the termina tion of the Employee's employment with the Company. The Employee shall not have any right to dividends or any other rights of a stockholder of the Company with respect to any shares of Common Stock underlying the Options until such shares have been issued to him or her upon the exercise of the Options.
TERM AND EXERCISE OF OPTIONS. The Options shall remain ---------------------------- outstanding (subject to the vesting and exercisability provisions provided herein) during a period of six (6) years beginning on the Date of Grant (the "Option Term"). One-half (1/2) of Options shall vest on January 31, 1997 and one-half shall vest on January 31, 1998, so long as the Emplo xxx remains continually employed by the Company from the date hereof through such date of vesting. Except as otherwise provided in Section 5 hereof, Options that have vested shall remain exercisable in whole at any time or in part and from time to time until the earlier to occur of the expiration of the Option Term and the expiration of one year after the date of the termination of the Employee's employment with the Company. The Employee shall not have any rights to dividends or any other rights of a stockholder of the Company with respect to any shares of Common Stock underlying the Options until such shares have been issued to him upon the exercise of the Options.
TERM AND EXERCISE OF OPTIONS. The Company and the Optionholder agree that the term of the Options shall be indefinite. The Optionholder agrees that the Options shall not be exercisable for Shares, except and only to the extent expressly provided in this Agreement.
TERM AND EXERCISE OF OPTIONS. (a) The term of the Option shall be for a period which begins on the Grant Date and ends on the Expiration Date (set forth on the top of the first page of this Option Agreement under the caption “Expiration Date”), subject to earlier termination as provided below. Notwithstanding the foregoing, in no event shall the Option be exercisable after the expiration of ten (10) years from the Grant Date. Except as otherwise provided herein, during the term, the Optionee shall have the right to exercise the Option on and after the corresponding vesting dates set forth in Section 3 hereof.
TERM AND EXERCISE OF OPTIONS. (a) Each Option shall be exercisable as to an Optioned Share at any time beginning on the date of this Agreement and ending on the date ten years after the date of this Agreement ("Expiration Date").
