Vesting and Exercise of Options. Except as otherwise provided hereunder, the Option shall vest and be exercisable from time to time in accordance with the following schedule (purchases may be cumulative); provided, that as of each such date the Participant is still employed by or providing services to the Corporation or a Subsidiary: On or after 2010-03-30 the right to purchase up to 25% of the shares subject to the Option may be exercised; and On a quarterly basis thereafter (e.g., on the first day following the last day of each consecutive three-month period thereafter) the right to purchase up to an additional 6.25% of the shares subject to the Option may be exercised, as follows: Date Number of Shares March 30th 2010 25,00 % June 30th 2010 6,25 % September 30th 2010 6,25 % December 30th 2010 6,25 % March 30th 2011 6,25 % June 30th 2011 6,25 % September 30th 2011 6,25 % December 30th 2011 6,25 % March 30th 2012 6,25 % June 30th 2012 6,25 % September 30th 2012 6,25 % December 30th 2012 6,25 % March 30th 2013 6,25 %
Vesting and Exercise of Options. The option to be granted pursuant to paragraph 9(a) shall vest as follows: 25% of the shares of Common Stock underlying such option will vest on the date of grant, and the remaining 75% of the shares of Common Stock underlying the option will vest in equal annual on the first, second and third anniversaries of the date of grant.
Vesting and Exercise of Options. Except as otherwise provided hereunder, the Option shall vest and be exercisable from time to time in accordance with the following schedule (purchases may be cumulative); provided, that as of each such date the Participant is still employed by or providing services to the Corporation or a Subsidiary: The Option shall not be exercisable until the completion of an initial public offering by the Corporation of its equity securities pursuant to an effective registration statement filed under the Act (as defined below) that occurs on or before December 31, 2010 (the “Vesting Event”). After the Vesting Event, the Option shall vest with respect to 1/16th of the shares subject to the Option when the Participant completes three months of continuous service as an employee, director or consultant of the Corporation or a Subsidiary following January 1, 2011. The Option shall vest with respect to an additional 1/16th of the shares subject to the Option when the Participant completes each three month period of continuous service as an employee, director or consultant of the Corporation or a Subsidiary thereafter. The Option may vest on an accelerated basis under Section 4(e) of this Agreement. In the event that the Vesting Event does not occur on or prior to December 31, 2010, then the Option shall expire in full on January 1, 2011.
Vesting and Exercise of Options. Except as otherwise provided hereunder, the Option shall vest and be exercisable from time to time in accordance with the following schedule (purchases may be cumulative); provided, that as of each such date the Participant is still employed by the Corporation or a Subsidiary: On or after the dates set forth below, the right to purchase up to the following number of shares subject to the Option may be exercised: Date Number of Shares January 16, 2006 180,600 April 16, 2006 45,150 July 16, 2006 45,150 October 16, 2006 45,150 January 16, 2007 45,150 April 16, 2007 45,150 July 16, 2007 45,150 October 16, 2007 45,150 January 16, 2008 45,150 Date Number of Shares April 16, 2008 45,150 July 16, 2008 45,150 October 16, 2008 45,150 January 16, 2009 45,150
Vesting and Exercise of Options. Each Option shall vest and become exercisable in one or more installments at such time or times and subject to such conditions, including without limitation the achievement of specified performance goals or objectives, as shall be determined by the Administrator. An Option granted to an employee who is not an officer, a director or Consultant of the Company must vest at a rate of at least 20% per year over a period of five years from the date of grant, subject to reasonable conditions such as continued employment. Notwithstanding the foregoing, to the extent required by applicable law, each Option shall provide that the Optionee shall have the right to exercise the vested portion of any Option held at termination for at least 30 days following termination for any reason other than "Cause" as defined in any Option Agreement, and that the Optionee shall have the right to exercise the Option for at least six months if such termination was due to the death or Disability of the Optionee.
Vesting and Exercise of Options. (1) Subject to Section (E) of this Award Agreement, Options do not provide the Participant with any rights or interests therein until they vest and become exercisable in accordance with the following:
(a) One-third of the Options will vest and become exercisable on a cumulative basis, on each of the first, second and third anniversaries of the Date of Award.
(b) Any Options not previously vested in accordance with Section (B)(1)(a) shall vest and become exercisable as of the date of the Participant’s termination of membership on the Board due to death, Disability or an Approved Departure.
(2) Options which have not vested and become exercisable at the time of the Participant’s termination of membership on the Board (for any reason other than death, Disability or an Approved Departure) shall terminate immediately and be of no further force or effect.
(3) Upon vesting, the Options will remain exercisable until they terminate in accordance with Section D below.
Vesting and Exercise of Options. The Options shall vest (subject to acceleration and termination under the provisions hereof) in three installments as follows: options as to 58,333 shares shall vest on each of December 31, 2001 and December 31, 2002 and Options for 58,334 shares shall vest on December 31, 2003.
Vesting and Exercise of Options. 1. Subject to Section III (D) of this Award Agreement, Options do not provide the Participant with any rights or interests therein until they vest and become exercisable in accordance with the following or as otherwise set forth in an Employment Agreement between the Company and the Participant:
a) With respect to the Options described in Section I of this Award Agreement, one-third of the Options will vest and become exercisable, on a cumulative basis, on each of the first, second and third anniversaries of the Date of Award.
b) All Options not previously vested as provided in Section III (A)(1)(a) shall vest and become fully exercisable as of the date of the Participant's termination of employment due to death, Disability, for "Good Reason," or due to a termination by the Company without "Cause" as defined in an Employment Agreement between the Participant and the Company ("Good Reason" or "Cause").
c) In event of Participant's Retirement, all Options not previously vested as provided in Section III (A)(1)(a) shall continue to vest and become exercisable according to the terms provided in III (A)(1)(a). "Retirement" for all Participants, means either (i) a Participant's election to retire upon attaining his or her "Normal Retirement Age"; or (ii) a Participant's election to retire upon (A) completing at least a 10-year "Period of Benefit Service" and (B) having either (1) attained age 55, or (2) incurred an "Eligible Termination" and, at the time of such "Eligible Termination," having attained age 54. The terms "Normal Retirement Age," "Period of Benefit Service" and "Eligible Termination" shall have the meanings as defined in the Retirement Plan.
Vesting and Exercise of Options. Except as may be required under Article X of the Plan, the Options shall vest and be exercisable from time to time in accordance with the following schedule (purchases may be cumulative): [ Vesting schedule pursuant to terms of award ]
Vesting and Exercise of Options. The Employee may exercise one or more of the Options granted in the Option Agreement, to the extent then vested according to the vesting schedule set forth above, by giving written notice on a form provided by the Company specifying the number of Options being exercised and the exercise date and by tendering payment for the Shares being purchased under the Options. The Options shall expire on the expiration date set forth above (the “Expiration Date”), unless terminated earlier as provided below.
