Time and Manner of Exercise of Option. (i) No portion of the option may be exercised more than five years from the respective vesting dates set forth in Sections 2(a), (b) and (c) hereof.
(ii) If Optionee's employment with the Company is terminated with "cause" pursuant to the terms of Optionee's Employment Agreement, dated as of November 21, 1996 (as amended), between Optionee and the Company (the "Employment Agreement"), the Optionee shall forfeit the right to exercise all non-vested options granted hereunder and payment for the exercise of all options which were vested on the date of such termination of employment shall be made to the Company in accordance with Section 3(b) hereof within the earlier of ten (10) days of such termination of employment or the date by which the vested options expire by the terms hereof.
(iii) If the Optionee dies, the options granted hereunder which have vested as of the Optionee's death may be exercised within one (1) year after the date of Optionee's death or prior to the date on which the vested option expires by its terms, whichever is earlier, by the estate of the Optionee, or by any person or persons whom Optionee shall have designated in writing in documents filed with the Company or, if no such designation has been made, by the person or persons to whom Optionee's rights hereunder shall have passed by will or the laws of descent and distribution.
(iv) Upon the sale of all or substantially all of the assets of the Company, the transfer of a controlling equity interest (as hereinafter defined) in the Company, all outstanding options shall automatically vest and shall be exercisable on the closing date of such transaction. Written notice of not less than twenty (20) days shall be given by the Company to the Optionee of the anticipated closing date of any such transaction. If such closing date changes, the Company shall provide written notice of the new closing date as soon as practicable to the Optionee. Any options not so exercised by the Optionee shall be null and void if not exercised on such closing date. As used herein, the term "controlling equity interest" shall mean the ability of any person, entity or group to direct the management and policies of the Company.
Time and Manner of Exercise of Option. 3.1 The Option shall not be exercisable prior to 11/03/2015. Thereafter, the Option shall only be exercisable in four equal annual installments, in the amounts and on or after the vesting dates as follows: Shares Becoming Available On or After for Exercise Notwithstanding the foregoing, the Option shall not be exercisable until such time that the Optionee and the Company have duly executed all of the agreements required at the time of grant of the Option by the Company for 1) full-time employment by the Company, if the Optionee is an employee of the Company, including, but not limited to, the Company's Employee Invention, Non-Disclosure and Non-Competition Agreement, or 2) consultancy by the Company, if the optionee is a consultant to the Company, including, but not limited to, the Company's Consultant Agreement, or 3) directorship of the Company, if the Optionee is a director of the Company, including, but not limited to, the Company's Confidentiality and Non-Competition Agreement. Except as may otherwise be specifically determined by the Administrator of the Plan, the Option shall not vest or become exercisable in the event of a change in control of the Company or other corporate transaction, merger or reorganization.
3.2 To the extent that the right to exercise the Option has accrued and is in effect, the Option may be exercised in full at one time or in part from time to time, by giving written notice, signed by the person or persons exercising the Option, to the Company, stating the number of Shares with respect to which the Option is being exercised, accompanied by payment in full of the Purchase Price for such Shares, which payment may, at the Optionee’s request and in the Company's sole discretion, be in whole or in part in shares of the common stock of the Company already owned by the person or persons exercising the Option, valued at fair market value. If such stock is traded on the NASDAQ Global Select Market System, the price shall be the last reported sale price of the stock reported by NASDAQ on such date or if no stock is traded on such date the next preceding date on which stock was traded. The Option may also be exercised by means of a broker-assisted cashless exercise method contemplated by Section 5(e)(iii) of the Plan.
3.3 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, shall pay all original...
Time and Manner of Exercise of Option. 3.1 The Option shall not be exercisable prior to [date]. Thereafter, the Option shall only be exercisable, in the amounts and on or after the vesting dates as follows: Shares Becoming Available
Time and Manner of Exercise of Option. (a) Maximum Term of Option. The Expiration Date of this Option is the date ---------------------- that is ten years from the Date of Grant. This Option may not be exercised on or after the Expiration Date.
Time and Manner of Exercise of Option. The Option may be exercised by Mommers at any time following the date of this Agreement and on or prior to the second anniversary of the date of this Agreement. The Option shall be exercised by Mommers by delivering to North Tyneside written notice of exercise of such Option. Upon the exercise of such Option, North Tyneside and Mommers shall, as soon as practicable but in no event no later than 10 business days following written notice of such exercise, enter into an asset purchase agreement or other transfer documents
Time and Manner of Exercise of Option. The Option may be exercised by Mommers at any time following the date of this Agreement and on or prior to the second anniversary of the date of this Agreement. The Option shall be exercised by Mommers by delivering to Norrkoping written notice of exercise of such Option. Upon the exercise of such Option, Norrkoping and Mommers shall, as soon as practicable but in no event no later than 10 business days following written notice of such exercise, enter into an asset purchase agreement or other transfer documents relating to the Norrkoping Assets in form and substance mutually agreeable to the parties and consummate the purchase and sale of the Norrkoping Assets as soon as practicable thereafter.
Time and Manner of Exercise of Option. 3.1 The Option shall not be exercisable prior to 11/03/2019 and, thereafter, shall be exercisable in full. Shares Becoming Available On or After for Exercise 11/03/2019 200,000 Not withstanding the foregoing, the Option shall not be exercisable until such time that the Optionee and the Company have duly executed all of the agreements required at the time of grant of the Option by the Company for 1) full-time employment by the Company, if the Optionee is an employee of the Company, including, but not limited to, the Company's Employee Invention, Non-Disclosure and Non-Competition Agreement, or 2) consultancy by the Company, if the optionee is a consultant to the Company, including, but not limited to, the Company's Consultant Agreement, or 3) directorship of the Company, if the Optionee is a director of the Company, including, but not limited to, the Company's Confidentiality and Non-Competition Agreement. In the event of a corporate transaction, including a merger or reorganization, whereby the holders of the outstanding shares of common stock of the Company before the transaction fail to have a beneficial interest of 51 percent or more of the shares of outstanding common stock of the Company or its successor (or its ultimate parent) after the consummation of the transaction, and within 12 months of the consummation of the transaction, the Optionee’s employment is involuntarily terminated, the Option shall become immediately exercisable and shall be vested as if the Optionee had remained employed by the Company for two additional years beyond the actual date of termination of the Optionee’s employment with the Company. For purposes
Time and Manner of Exercise of Option. (a) The Option shall not be exercisable until __________, but shall be exercisable in full thereafter until terminated.
(b) To the extent that the right to exercise the Option has accrued and is in effect, the Option may be exercised in full at one time or in part from time to time, by giving written notice, signed by the person or persons exercising the Option, to the Company, stating the number of Shares with respect to which the Option is being exercised, accompanied by payment in full of the Price for such Shares in cash. There shall be no exercise at any one time as to fewer than Ten (10)
Time and Manner of Exercise of Option. (a) The Option shall become exercisable as to 2.7778% of the Shares on the 9th day of each month in the period March 2000 through February 2003.
(b) Notwithstanding the provisions of Subsection (a), the Option shall become immediately exercisable in full in the event of the termination of the Employee's employment with the Company with out Reasonable Cause (as hereinafter defined).following a Change in Control (also as hereinafter defined).
Time and Manner of Exercise of Option. (a) This Option shall be exercisable in accordance with the schedule attached hereto as Schedule A and immediately prior to the acceptance of an offer made to acquire all or a majority of the shares of the company.
(b) To the extent that the right to exercise this Option has accrued and is in effect, this Option may be exercised by giving written notice, signed by the person or persons exercising the Option, to the Company, stating the number of Shares with respect to which the Option is being exercised, accompanied by payment in full by cash or certified check for such Shares, provided, however, that no less than One Thousand (1,000) Shares may be purchased upon any one exercise of this Option unless the number of Shares purchased at such time is the total number of Shares in respect of which this Option is then exercisable. Upon such exercise, instructions shall be given to issue and deliver to the Optionee a certificate for paid-up non-assessable Shares.
