Common use of Time of Exercise of Option Clause in Contracts

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.

Time of Exercise of Option. HolderXxxxxx’s right to receive the Options shall vest monthly at 125,000 3125 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.

Time of Exercise of Option. HolderXxxxxx’s right to receive the Options shall vest monthly at 125,000 20,833 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.

Time of Exercise of Option. Holder’s right to receive the Options shall vest monthly at 125,000 208,333 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 Holder is no longer employed by Employer as provided for hereunder), XxxxxxHolder’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.

Time of Exercise of Option. Holder’s right to receive the Options shall vest monthly at 125,000 4167 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.

Time of Exercise of Option. Holder’s right to receive the Options shall vest monthly at 125,000 104,166 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 Holder is no longer employed by Employer as provided for hereunder), XxxxxxHolder’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.