Vesting and Exercisability of Option. The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.
Vesting and Exercisability of Option. Unless otherwise provided in this Agreement or the Plan, the Option shall entitle the Grantee to purchase, in whole at any time or in part from time to time, thirty-three and one-third percent (33-1/3%) of the total number of Shares covered by the Option after the expiration of one (1) year from the Grant Date, an additional thirty-three and one-third percent (33-1/3%) of the total number of Shares covered by the Option after the second anniversary of the Grant Date, and the remainder of the number of Shares subject to the Option after the third anniversary of the Grant Date, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised as herein provided, during the remaining period of the Exercise Term. Any fractional number of Shares resulting from the application of the percentages set forth in this Section 4 shall be rounded to the next higher whole number of Shares.
Vesting and Exercisability of Option. The Option shall vest and become exercisable on the terms and conditions hereinafter set forth:
Vesting and Exercisability of Option. 5.1 Unless otherwise provided in this Agreement or the Plan, the Option shall entitle the Optionee, in whole at any time or in part from time to time, to exercise the Option for shares of Stock to the extent the Option has become "vested."
Vesting and Exercisability of Option. Subject to Sections 6 and 7 hereof, provided that the Grantee continues to serve as an employee of the Company or any of its Subsidiaries, the Option shall vest and become exercisable on the third anniversary of the Grant Date.
Vesting and Exercisability of Option. The Option shall become vested and exercisable in accordance with the following vesting schedule if the Grantee is employed by, or providing service to, the Employer (as defined in the Plan) on the applicable vesting date: Twenty five percent (25%) upon the closing of the sale of shares of the Company’s common stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (an “IPO”), with the balance vesting in twelve equal quarterly installments thereafter. The vesting and exercisability of the Option is cumulative, but shall not exceed 100% of the Shares subject to the Option. If the foregoing schedule would produce fractional Shares, the number of Shares for which the Option becomes vested and exercisable shall be rounded down to the nearest whole Share.
Vesting and Exercisability of Option. The Option shall become vested and exercisable on the following dates, if the Grantee is employed by, or providing service to, the Employer (as defined in the Plan) on the applicable vesting date (each, a “Vesting Date”): Twenty five percent (25%) on with the balance vesting in twelve equal quarterly installments thereafter, so that each option is 100% vested on the fourth anniversary of the Date of Grant. The vesting and exercisability of the Option is cumulative, but shall not exceed 100% of the Shares subject to the Option. If the foregoing schedule would produce fractional Shares, the number of Shares for which the Option becomes vested and exercisable shall be rounded down to the nearest whole Share.
Vesting and Exercisability of Option. The Option shall become vested and exercisable on the following dates, if the Grantee is employed by, or providing service to, the Employer (as defined in the Plan) on the applicable vesting date (each, a “Vesting Date”): [Insert Vesting and Exercisability Schedule] The vesting and exercisability of the Option is cumulative, but shall not exceed 100% of the Shares subject to the Option. If the foregoing schedule would produce fractional Shares, the number of Shares for which the Option becomes vested and exercisable shall be rounded down to the nearest whole Share.
Vesting and Exercisability of Option. Subject to the provisions of this Agreement and the Plan, the Option shall vest and become exercisable as to 5% of the Investor Interests subject to the Option on each of the first 20 quarterly anniversaries of January 1, 2013, such that 100% of the Investor Interests subject to the Option shall be vested on the fifth anniversary of January 1, 2013. The portion of the Option which has become vested and exercisable as described in this Section 4 is hereinafter referred to as the “Vested Portion.”
Vesting and Exercisability of Option. The Option may be exercised and Shares may be purchased by the Participant as the result of such exercise only during the term or terms set forth on Exhibit A attached hereto; provided, however, that in no event shall the total number of Shares purchased hereunder pursuant to the exercise of the Option exceed the number set forth on Exhibit A attached hereto, as the same may be adjusted in accordance with the Plan.
