Time for Exercise. (a) Subject to Section 2(c) and Participant’s continued employment with the Company and/or its Subsidiaries (or as otherwise provided in Section 2(b)), the Award shall become vested and exercisable on the fourth anniversary of the Grant Date (the period between the Grant Date and the fourth anniversary of the Grant Date the “Performance Period”) provided that during the Performance Period the Company’s Common Shares closed at a price for thirty (30) consecutive trading days that is equal to or greater than $67.33 per share (the “Price Performance Standard”).
(b) Notwithstanding anything herein or in the Plan to the contrary,
(i) upon the occurrence of a Change of Control in which either (A) the Price Performance Standard or the Alternate Price Performance Standard (as defined below) has been satisfied prior to the date of such Change of Control or (B) the price per Common Share received by the Company’s shareholders in connection with such Change of Control transaction (as determined in good faith by the Committee as in existence immediately prior to the Change of Control) is equal to or greater than the Alternate Price Performance Standard (as defined below), the vesting of the Award shall be accelerated such that 100% of the then unvested portion of the Award shall become vested and exercisable as of the date of the Change of Control; and
(ii) in the event that Participant’s employment with the Company and/or its Subsidiaries (or their respective successors) is terminated by the Company without “Cause” or by Participant for “Good Reason” (each as defined below), or in the event of Participant’s death or “Disability” (as defined below) and either (A) the Price Performance Standard has been satisfied as of the date of such event or (B) during the period between the Grant Date and the date of such event, the Company’s Common Shares closed at a price for thirty (30) consecutive trading days that is equal to or greater than $55.64 per share (the “Alternate Price Performance Standard”), the Award shall become immediately and fully vested and exercisable.
(c) Participant acknowledges and agrees that he is subject to Section 304 of the Xxxxxxxx-Xxxxx Act of 2002.
Time for Exercise. Optionee may elect to exercise the options at the times and for the number of shares indicated as follows:
(a) On or after May 26, 1999, to and including May 25, 2000, 6,250 shares;
(b) On or after May 26, 2000, to and including May 25, 2001, 6,250 shares;
(c) On or after May 26, 2001, to and including May 25, 2002, 6,250 shares; and
(d) On or after May 26, 2002, to and including May 25, 2008 (the "Option Termination Date"), 6,250 shares. However, if Optionee does not purchase the full number of shares to which Optionee is entitled in either period (a), (b) or (c) above, Optionee is permitted to purchase those remaining shares in a later period through and including the Option Termination Date in addition to those shares which Optionee may otherwise be entitled to purchase.
Time for Exercise. (a) Unless otherwise provided in Exhibit A (if any and to the extent applicable to the Optionee), the Option will become vested and exercisable in quarterly 5% increments beginning on the last day of the calendar quarter during which the Grant Date occurs and on the last day of each subsequent calendar quarter until the Option becomes fully exercisable on the last day of the calendar quarter immediately preceding the fifth anniversary of the Grant Date.
(b) In the event of a Change in Control, the Committee as constituted immediately before such Change in Control may, in its sole discretion, accelerate the vesting and exercisability of this Option upon such Change in Control or take such other actions as provided in Section 11 of the Plan.
Time for Exercise. This Warrant may be exercised in whole or in part at any time, and from time to time, during the period commencing on the date of this Warrant and expiring at 5:00 p.m. Pacific time on March 19, 2018 (the “Expiration Date”).
Time for Exercise. Subject to the provisions of this Article IV, the Option granted hereunder shall be exercisable only during the times provided in this Option Agreement.
Time for Exercise. (a) The Award will become vested and exercisable in accordance with the following schedule: (i) 20% of the Stock Appreciation Rights will become vested and exercisable on the first anniversary of the Grant Date, (ii) 20% of the Stock Appreciation Rights will become vested and exercisable on the second anniversary of the Grant Date and (iii) the remaining 60% of the Stock Appreciation Rights subject to the Award will become vested and exercisable on the third anniversary of the Grant Date.
(b) In the event of a Change of Control, the Committee as constituted immediately before such Change of Control may, in its sole discretion, accelerate the vesting and exercisability of this Award upon such Change of Control or take such other actions as provided in Section 13 of the Plan.
Time for Exercise. This Warrant may be exercised in whole or in part at any time, and from time to time, during the period commencing on the date of this Warrant and expiring on July __, 2003.
Time for Exercise. This Stock Option may not be exercised as to any Option Shares until such Option Shares are vested or after the Expiration Date.
Time for Exercise. The Option hereby granted to the Optionee shall be exercisable at the following times: With respect to Twenty-five Thousand (25,000) shares of common stock, the Option shall be exercisable on or after the date of this Option Agreement; With respect to an additional Twenty-five Thousand (25,000) shares of common stock, the Option shall be exercisable on or after one year after the date of this Option Agreement. With respect to a third Twenty-five Thousand (25,000) shares of common stock, the Option shall be exercisable on or after two years after the date of this Agreement. With respect to the final Twenty-five Thousand (25,000) shares of common stock, the Option shall be exercisable on or after three years after the date of this Option Agreement. The Option granted hereunder shall be exercisable for a period of five years after such Option first becomes exercisable in accordance with the foregoing provisions of this Section 3.03, unless the period of exercise is sooner terminated in accordance with the provisions of this Option Agreement. The Optionee shall have no right whatsoever to exercise the Option except during the times provided above.
Time for Exercise. (a) Except as set forth in Paragraph 2(c) or Section 13 of the Plan, the Award (including both Vested SARs and Unvested SARs) shall not be exercisable on or before the dates specified in this Paragraph 3.
(b) Subject to Participant’s continued service as a member of the Board, all then Vested SARs shall become exercisable on the second anniversary of the final Vesting Date.
(c) Notwithstanding anything herein to the contrary, in the event Participant ceases to be a member of the Board for any reason prior to the date specified in Paragraph 3(b), all then Vested SARs shall become exercisable on the date of such cessation of service.
