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.
Time of Exercise of Option. This Option shall be first exercisable as to 25% of the Shares on each of the first four anniversary dates of this Agreement. To the extent the Option is not exercised by the Optionee when it becomes exercisable, it shall not expire, but shall be carried forward and shall be exercisable, on a cumulative basis, until the Expiration Date, as hereinafter defined.
Time of Exercise of Option. The Option shall vest in Optionee and may be exercised by Optionee as set forth on Exhibit "A" hereto. Any exercise may be with respect to any part or all of the shares then exercisable pursuant to such Option. Except as otherwise provided in the Plan, such Option must be exercised within the earlier of (i) 5 years after the date of the grant, or (ii) three months after Optionee's termination of employment with either the Corporation, or a Parent or Subsidiary thereof; provided, however, such rights shall be extended as more fully set forth in Section 3.3 of the Plan in the case of Optionee's death. In no event shall the Corporation be required to transfer fractional shares to Optionee or those entitled to Optionee's rights herein.
Time of Exercise of Option. Prior to its termination as set forth in Section 5 below, this option shall vest, and the Employee may exercise the option granted herein on the following dates, or thereafter provided the option is exercised prior to its termination:
Time of Exercise of Option. The Option is fully vested. Any exercise may be with respect to any part or all of the shares then exercisable pursuant to such Option, provided that the minimum number of shares exercisable at any time shall not be less than 100 shares or the balance of shares for which the Option is then exercisable. Such Option must be exercised within 10 years after the date of the grant. In no event shall the Corporation be required to transfer fractional shares to Optionee or those entitled to Optionee's rights herein.
Time of Exercise of Option. (a) The Option shall not be exercisable prior to one (1) year from grant. Thereafter, the Option shall only be exercisable as follows: 12 months 20 % 20 % 24 months 20 % 40 % 36 months 20 % 60 % 48 months 20 % 80 % 60 months 20 % 100 %
Time of Exercise of Option. The Option is exercisable in full commencing on the date hereof, subject to the terms of this Agreement.
Time of Exercise of Option. Subject to the provisions of Section 4 below, the Option shall vest as provided in Appendix A, provided, however, that upon a Change in Control of the Company (as defined in the Employment Agreement between the Company and the Optionee dated June 26th, 2000), the Option shall be immediately exercisable. To the extent the Option is not exercised by the Optionee when it becomes exercisable, it shall continue in full force and effect until the Expiration Date (as hereinafter defined).
Time of Exercise of Option. The Optionee may exercise the Option (subject to the limitations on exercise set forth in this Agreement and in the Plan), in installments as follows:
(i) Subject to Section 4.2, no Option may be exercised during the first year from the Original Date of Grant;
(ii) Subject to Section 4.2, after one year from the Original Date of Grant, the Option shall be exercisable in respect of 33 and 1/3 percent of the number of shares specified in Section 1 above; and
(iii) Subject to Section 4.2, after the expiration of each of the second, and third years from the Original Date of Grant, the Option shall be exercisable in respect of an additional 33 and 1/3 percent of such shares specified in Section 1 above. The foregoing installments, to the extent not exercised, shall accumulate and be exercisable, in whole or in part, at any time and from time to time, after becoming exercisable and prior to the termination of the Option; provided, that no single exercise of the Option shall be for less than 100 shares, unless at the time of the exercise, the maximum number of shares available for purchase under this Option is less than 100 shares. In no event shall the Option be exercised for a fractional share.
Time of Exercise of Option. Holder’s right to receive the Options shall vest monthly at 125,000 per month. The remaining unvested options shall vest immediately upon a change of control of the Employer or upon the involuntary termination of the Holder’s services to the corporation without cause. The date of issuance to the Termination Date (as defined below) shall be referred to herein as the “Exercise Period”. As long as Holder remains employed (i.e., all of Holder’s rights hereunder terminate if Xxxxxx is no longer employed by Employer as provided for hereunder), Xxxxxx’s right to exercise the Options granted hereunder shall remain in effect during the Exercise Period unless Holder is disabled within the meaning of Internal Revenue Code Section 22(e)(3) within thirty (30) days of the date of exercise, or twelve (12) months prior to the date of exercise. For purposes of this Agreement, "employment" and "employed" mean that Employee is employed by Employer, a parent or subsidiary corporation of Employer, or a corporation (or a parent or subsidiary corporation of such a corporation) issuing or assuming a stock option in a transaction to which Internal Revenue Code Section 424(a) applies. For purposes of this Agreement, the “Termination Date” shall occur exactly ten (10) years from the date such Option is granted. In the event that the Options qualify as Incentive Options and Holder owns, at the time such Option is granted, more than ten percent (10%) of the total combined voting power of all classes of stock of the Employer or of any subsidiary corporation or parent corporation of the Employer, the Options granted hereunder shall not be exercisable after the expiration of five (5) years from the date the Options are granted.
