Time Option. An Option with respect to which the terms and conditions are set forth in Section 3(a) of this Agreement.
Time Option. The Time Option shall become vested and exercisable with respect to 20% of the Shares subject to such Option on each of the first five anniversaries of the Closing Date.
Time Option. The Time Option shall become vested and exercisable with respect to 25% of the Shares subject to such Option on each of the first four anniversaries of the Grant Date.
Time Option. Notwithstanding Section 3(a) and 3(c)(i), in the event that the Participant’s Employment is terminated due to death, Disability or Retirement, to the extent not previously cancelled or expired, the Time Option shall immediately become vested and exercisable as to the Shares subject to the Time Option that would have otherwise vested and become exercisable in the fiscal year in which such termination of Employment occurs and any remaining unvested portion of the Time Option shall expire and be immediately canceled by the Company without consideration.
Time Option. The Time Option shall become vested and exercisable with respect to 20% of the Shares subject to such Option on the last day of each of the Fiscal Years 2016, 2017, 2018, 2019 and 2020 respectively.
Time Option. The Time Option shall become vested and exercisable with respect to 20% of the Shares subject to such Option on each of the first five anniversaries of the date set forth on Schedule B (the “Hire or Promotion Date”).
Time Option. The Time Option, unless otherwise specifically provided on the signature page hereof, shall become vested and exercisable ratably on a monthly basis for the five-year period, beginning on the Grant Date.
Time Option. (i) So long as the Optionee continues to be employed by the Company or its Subsidiaries, the Time Option shall become exercisable pursuant to the following schedule: After the first anniversary of the Initial Vesting Date 20 % After the second anniversary of the Initial Vesting Date 40 % After the third anniversary of the Initial Vesting Date 60 % After the fourth anniversary of the Initial Vesting Date 80 % After the fifth anniversary of the Initial Vesting Date 100 %
(ii) That portion of the Option intended to be an "incentive stock option" within the meaning of Section 422 of the Code ("ISO") and that portion of the Option that is not intended to be an ISO ("NQSO") shall each become exercisable ratably in accordance with the above schedule. For example, following the first anniversary of the Initial Vesting Date, 20% of the ISOs and 20% of the NQSOs shall be exercisable, while 40% of the ISOs and 40% of the NQSOs shall be exercisable following the second anniversary of the Initial Vesting Date, and so on.
(iii) Notwithstanding the foregoing, the Time Option shall become immediately exercisable as to 100% of the shares of Common Stock subject to such Time Option immediately prior to a Change of Control (but only to the extent such Time Option has not otherwise terminated or become exercisable).
Time Option. Subject to clause (b)(i) below, the Time Option shall become vested and exercisable as follows: (x) with respect to 5% of the shares of Common Stock underlying such Time Option, on the Grant Date; and (y) with respect to 19% of the shares of Common Stock underlying such Time Option, on each of the five anniversaries of December 31, 2006.
