Vesting and Forfeiture of Option. The Option shall become vested in four (4) installments (50% of the shares in four equal yearly installments of 12.5% each, and a single lump sum installment of 50% upon the conclusion of the fourth year), the Grantee having the right hereunder to purchase from the Company, on and after the following dates, the following numbers of shares of Common Stock if the Grantee is employed by the Company on such date: March 29, 2000 12.5% 2,463 shares; March 29, 2001 12.5% an additional 2,463 shares; March 29, 2002 12.5% an additional 2,463 shares; March 29, 2003 62.5% an additional 12,313 shares. PROVIDED, HOWEVER, that the Option shall become fully-vested upon a Change of Control of the Company (as defined in Section 11 of the Plan) and the other provisions specified in the Plan relating to the consequences of a Change of Control shall apply, including Sections 5(f)(1)(B) and 12. NOTWITHSTANDING ANY OTHER PROVISIONS SET FORTH HEREIN OR IN THE PLAN, IF THE GRANTEE SHALL CEASE TO BE AN EMPLOYEE ON ACCOUNT OF "TERMINATION FOR CAUSE", AS DETERMINED IN ACCORDANCE WITH EXECUTIVE'S EMPLOYMENT AGREEMENT WITH THE COMPANY BEFORE ANY CHANGE OF CONTROL OF THE COMPANY, THE UNEXERCISED PORTION OF THE OPTION AND ANY AND ALL RIGHTS HEREUNDER SHALL IMMEDIATELY TERMINATE AND BE VOID.
Vesting and Forfeiture of Option. Except as otherwise provided in this Agreement, the Option Shares shall vest and become exercisable on the [third (3rd) anniversary] / [fifth (5th) anniversary] of the Vesting Start Date, provided that Optionee remains employed by, or otherwise continues to provide Services to, the Company or a Subsidiary from the Date of Grant through the Vesting Date. For purposes of this Agreement, the “Vesting Start Date” shall mean . Except as otherwise determined by the Compensation Committee or provided in an Employment Agreement (defined below), the Option, to the extent then unvested, shall terminate and be forfeited upon the Optionee ceasing to be employed by or provide Services to the Company or a Subsidiary prior to the Vesting Date (after giving effect to any acceleration of vesting that occurs in connection with such cessation). Further, the Option, whether vested or unvested, shall terminate and be forfeited upon Optionee’s violation of the terms and conditions of any Employment Agreement (as defined below).
Vesting and Forfeiture of Option. During the Option Period (as defined below), twenty-five percent (25%) of the Option will vest and become exercisable on the first four (4) anniversaries of the Grant Date (each an “Option Vesting Date”), subject to Optionee's continued Service through the applicable Option Vesting Date. The Option expires ten years after the Grant Date, unless terminated earlier as follows (the “Option Period”).
