Term of Option; Time of Exercise Sample Clauses

Term of Option; Time of Exercise. 3.1 The term of the Option shall be for a period of _______ years from the Date of Grant. The Option shall be exercisable with respect to _______________________________________________________________________________ provided that the Plan shall have received shareholder approval at the next annual meeting of the shareholders of the Company. 3.2 This Option shall not under any circumstances be exercisable after, and this Agreement and Option shall terminate as to all unexercised Shares at, 5:00 p.m. (Minnesota time) on the date that is _______ years from the Date of Grant (the "Expiration Date"), unless terminated prior thereto pursuant to the provisions of Section 5 hereof. 3.3 Notwithstanding the vesting provisions contained in Section 3.1 hereof, but subject to the other terms and conditions set forth herein, the Option may be exercised in full immediately following the date of a "Change in Control" (as hereinafter defined) provided the Plan has received Shareholder approval. For purposes of this Agreement, the following terms shall have the definitions set forth below:
Sample 1
AutoNDA by SimpleDocs
Term of Option; Time of Exercise. 3.1 In accordance with the VAR, the term of the Option shall be for a period ending on the earlier of (A) March 21, 2004 or (B) the date optionee exercises any of the tandem options to purchase the common stock of Fingerhut granted pursuant to the VAR. In accordance with the VAR, the Option shall be exercisable according to the following schedule: Date Vested Percent ---- -------------- March 21, 1997 73.74% March 21, 1998 97.49% March 21, 1999 100.00% 3.2 This Option shall not under any circumstances be exercisable after, and this Agreement and Option shall terminate as to all unexercised Shares at, 5:00 p.m. (Minnesota time) on March 21, 2004 (the "Expiration Date"), unless terminated prior thereto pursuant to the provisions of Section 3.1 or Section 5 hereof. 3.3 Notwithstanding the vesting provisions contained in Section 3.1 hereof, but subject to the other terms and conditions set forth herein, the Option may be exercised in full immediately following the date of a "Change in Control" (as hereinafter defined). For purposes of this Agreement, the following terms shall have the definitions set forth below:
Sample 1
Term of Option; Time of Exercise. 3.1 The term of the Option shall be for a period of ten (10) years from the Date of Grant. The Option shall be exercisable with respect to thirty-three and one-third percent (33-1/3%) of the Shares on [date2] and annually thereafter, on a cumulative basis, with respect to thirty- three and one-third percent (33-1/3%) of the Shares. 3.2 This Option shall not under any circumstances be exercisable after, and this Agreement and Option shall terminate as to all unexercised Shares at, 5:00 p.m. (Minnesota time) on the date that is ten (10) years from the Date of Grant (the "Expiration Date"), unless terminated prior thereto pursuant to the provisions of Section 5 hereof. 3.3 Notwithstanding the vesting provisions contained in Section 3.1 hereof, but subject to the other terms and conditions set forth herein, the Option may be exercised in full immediately following the date of a "Change in Control" (as hereinafter defined). For purposes of this Agreement, the following terms shall have the definitions set forth below: (a) "Change in Control" shall mean: (i) a change in control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), whether or not the Company is then subject to such reporting requirement; or (ii) the public announcement (which, for purposes of this definition, shall include, without limitation, a report filed pursuant to Section 13(d) of the Exchange Act) by the Company or any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) that such person has become the "beneficial owner" (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company's then outstanding securities; provided, however, that notwithstanding the foregoing, no Change of Control shall be deemed to have occurred for purposes of this Agreement by reason of ownership of 30% or more of the total voting capital stock of the Company then issued and outstanding by any subsidiary of the Company or any employee benefit plan of the Company or of any subsidiary of the Company or any entity holding shares of the Common Stock organized, appointed or established for, or pursuant to the terms of, any such plan (any such person or entity described in this proviso is referred to herein as a "Company Entity"); o...
Sample 1
Term of Option; Time of Exercise. (a) The term of the Option shall be for a period of ten (10) years from the Date of Grant. (b) Subject to Section 3.1(c), the Option shall be exercisable in accordance with the following schedule: Anniversary of Date of Grant Percentage of Option Exercisable ------------------------------------------------------------------------- First 0% Second 0% Third 0% Fourth 33% Fifth 33% Sixth 33% (c) Notwithstanding Section 3.1(b), this Option may become exercisable at such times and in such amounts as provided in the following schedule in the event that, on the anniversary of the Date of Grant specified below, the Committee determines that the Company has achieved a Company XXX (as defined in Section 3.1(d)) that exceeds the applicable XXX Target (as defined in Section 3.1(e)) for the fiscal year end immediately preceding such anniversary of the Date of Grant: Percentage of Option Exercisable if Anniversary of Date of Grant Applicable XXX Target is Met -------------------------------------------------------------------- First 33% Second 33% Third 33%
Sample 1
Term of Option; Time of Exercise. 3.1 The term of the Option shall be for a period of ten (10) years from the Date of Grant. The Option shall be exercisable with respect to twenty-five percent (25%) of the Shares on (date), twenty-five percent (25%) of the Shares on (date), twenty-five (25%) percent of the Shares on (date) and the final twenty-five (25%) of the shares on (date). 3.2 This Option shall not under any circumstances be exercisable after, and this Agreement and Option shall terminate as to all unexercised Shares at, 5:00 p.m. (Minnesota time) on the date that is ten (10) years from the Date of Grant (the "Expiration Date"), unless terminated prior thereto pursuant to the provisions of Section 5 hereof. 3.3 Notwithstanding the vesting provisions contained in Section 3.1 hereof, but subject to the other terms and conditions set forth herein, the Option may be exercised in full immediately following the date of a "Change in Control" (as hereinafter defined). For purposes of this Agreement, the following terms shall have the definitions set forth below:
Sample 1
Term of Option; Time of Exercise. 3.1 The term of the Option shall be for a period of ten (10) years from the Date of Grant. The Option shall be exercisable with respect to fifty percent (50%) of the Shares on [date2] and with respect to fifty percent (50%) of the Shares on [date3]. 3.2 This Option shall not under any circumstances be exercisable after, and this Agreement and Option shall terminate as to all unexercised Shares at, 5:00 p.m. (Minnesota time) on the date that is ten (10) years from the Date of Grant (the "Expiration Date"), unless terminated prior thereto pursuant to the provisions of Section 5 hereof. 3.3 Notwithstanding the vesting provisions contained in Section 3.1 hereof, but subject to the other terms and conditions set forth herein, the Option may be exercised in full immediately following the date of a "Change in Control" (as hereinafter defined). For purposes of this Agreement, the following terms shall have the definitions set forth below:
Sample 1
Term of Option; Time of Exercise. (a) The Option shall expire September 1, 2004. (b) The Option shall be immediately vested and shall become exercisable in full as of September 1, 1998; (c) The Option may be exercised only to the extent the Option has vested at the time of exercise of the Option;
Sample 1
AutoNDA by SimpleDocs

Related to Term of Option; Time of Exercise

  • Time of Exercise The purchase rights represented by this Warrant may be exercised in whole or in part during the Term.

  • Time of Exercise of Option The Optionee may exercise the option granted herein at any time after the effective date of this Agreement until the date of termination of the option as provided herein.

  • Vesting; Time of Exercise Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows:

  • Notice of Exercise of Option This Option may be exercised by the ---------------------------- Optionee, or by the Optionee's administrators, executors or personal representatives, by a written notice (in substantially the form of the Notice of Exercise attached hereto as Schedule B) signed by the Optionee, or by such administrators, executors or personal representatives, and delivered or mailed to the Company as specified in Section 14 hereof to the attention of the President or such other officer as the Company may designate. Any such notice shall (a) specify the number of shares of Stock which the Optionee or the Optionee's administrators, executors or personal representatives, as the case may be, then elects to purchase hereunder, (b) contain such information as may be reasonably required pursuant to Section 12 hereof, and (c) be accompanied by (i) a certified or cashier's check payable to the Company in payment of the total Exercise Price applicable to such shares as provided herein, (ii) shares of Stock owned by the Optionee and duly endorsed or accompanied by stock transfer powers having a Fair Market Value equal to the total Exercise Price applicable to such shares purchased hereunder, or (iii) a certified or cashier's check accompanied by the number of shares of Stock whose Fair Market Value when added to the amount of the check equals the total Exercise Price applicable to such shares purchased hereunder. Upon receipt of any such notice and accompanying payment, and subject to the terms hereof, the Company agrees to issue to the Optionee or the Optionee's administrators, executors or personal representatives, as the case may be, stock certificates for the number of shares specified in such notice registered in the name of the person exercising this Option.

  • Manner of Exercise of Option (a) To the extent that the right to exercise the Option has accrued and is in effect, the Option may be exercised in full or in part by giving written notice to the Company stating the number of Shares as to which the Option is being exercised and accompanied by payment in full for such Shares. No partial exercise may be made for less than one hundred (100) full Shares of Common Stock. Payment shall be made in accordance with the terms of the Plan. Upon such exercise, delivery of a certificate for paid-up, non- assessable Shares shall be made at the principal office of the Company to the person exercising the Option, not less than thirty (30) and not more than ninety (90) days from the date of receipt of the notice by the Company. (b) The Company shall at all times during the term of the Option reserve and keep available such number of Shares of its Common Stock as will be sufficient to satisfy the requirements of the Option.

  • Period of Exercise This Warrant is exercisable at any time or from time to time on or after the date on which this Warrant is issued and delivered pursuant to the terms of the Securities Purchase Agreement and before 6:00 p.m., New York, New York time on the fifth (5th) anniversary of the date of issuance (the "Exercise Period").

  • Form of Exercise Price The Holder intends that payment of the Exercise Price shall be made as (check one): ☐ a cash exercise with respect to _________________ Warrant Shares; or ☐ by cashless exercise pursuant to the Warrant.

  • Period of Exercisability Section 3.1 - Commencement of Exercisability (a) Options shall become exercisable as follows: Percentage of Option Date Option Shares Granted As to Which Becomes Exercisable Option Is Exercisable ------------------- --------------------- After the first anniversary of the Trigger Date 20% After the second anniversary of the Trigger Date 40% After the third anniversary of the Trigger Date 60% After the fourth anniversary of the Trigger Date 80% After the fifth anniversary of the Trigger Date 100% Notwithstanding the foregoing, (x) no Options shall become exercisable prior to the time the Plan is approved by the Company's stockholders, and (y) subject to the immediately preceding clause (x), the Options shall become immediately exercisable as to 100% of the shares of Common Stock subject to such Options immediately prior to a Change of Control (but only to the extent such Options have not otherwise terminated or become exercisable). (b) Notwithstanding the foregoing, no Option shall become exercisable as to any additional shares of Common Stock following the termination of employment of the Optionee for any reason other than a termination of employment because of death or Permanent Disability of the Optionee, and any Option (other than as provided in the next succeeding sentence) which is non-exercisable as of the Optionee's termination of employment shall be immediately cancelled. In the event of a termination of employment because of such death or Permanent Disability, the Options shall immediately become exercisable as to all shares of Common Stock subject thereto.

  • Term of Option This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

  • Method of Exercise Payment Issuance of New Warrant;

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!