Time Vesting. Subject to paragraphs (b) and (c) of this Section 2, the Option shall vest and become exercisable with respect to twenty percent (20%) of the Shares initially covered by the Option on each of the first, second, third, fourth and fifth anniversaries (each such anniversary being a "Vesting Date") of the purchase of shares of common stock of Sheridan pursuant to the Offer.
Appears in 5 contracts
Sources: Subscription and Tender Agreement (Vestar Sheridan Inc), Subscription and Tender Agreement (Vestar Sheridan Inc), Subscription and Tender Agreement (Vestar Sheridan Inc)
Time Vesting. Subject to paragraphs (b) and (c) of this Section 2, the Option shall vest and become exercisable with respect to twenty percent (20%) of the Shares shares of Common Stock initially covered by the Option on each of the first, second, third, fourth and fifth anniversaries (each such anniversary being a "Vesting Date") of the purchase of shares of common stock of Sheridan pursuant to the OfferGrant Date.
Appears in 3 contracts
Sources: Time Option Agreement (St John Knits International Inc), Time Option Agreement (St John Knits International Inc), Time Option Agreement (St John Knits International Inc)