Vesting and Time of Exercise. (a) The vested portion of the Option is exercisable in whole or in part (but not as to any fractional shares) at any time prior to the termination of the Option. Except as otherwise provided in this Agreement, the Option shall vest in accordance with the schedule set out in the attached Grant Notice. The right to purchase shares under the Option shall be cumulative, and shares not purchased in any year may be purchased in subsequent years, subject to the termination provisions contained elsewhere herein.
Vesting and Time of Exercise. (a) The vested portion of the Option is exercisable in whole or in part (but not as to any fractional shares) at any time prior to the termination of the Option. Except as otherwise provided in this Agreement, the Option shall vest in the following manner: If Option Holder remains in the employ of the Company through the date: Vested Number of Shares Six (6) months from the date of grant 12.5% of shares Twelve (12) months from the date of grant 25% of shares Eighteen (18) months from the date of grant 37.5% of shares Twenty-four (24) months from the date of grant 50% of shares Thirty (30) months from the date of grant 62.5% of shares Thirty-six (36) months from the date of grant 75% of shares Forty-two (42) months from the date of grant 87.5% of shares Forty-eight (48) months from the date of grant 100% of shares The right to purchase shares under the Option shall be cumulative, and shares not purchased in any year may be purchased in subsequent years, subject to the termination provisions contained elsewhere herein.
Vesting and Time of Exercise. The options shall vest, subject to the continued employment of Employee, as follows: (a) 50,000 options on August 19, 2001 and 50,000 Options on August 19, 2002. The Options shall be exercisable for a five (5) period from the date of vesting and ending when they terminate as provided in Section 5 of this letter.
Vesting and Time of Exercise. Unless expired as provided in paragraph 5 below, and subject to the special provisions of paragraphs 3(b) and 3(c) below, the Option Shares shall be vested and this Option may be exercised as follows: (i) 100,000 Option Shares shall vest on, and may be exercised, in whole or in part, at any time after, the first anniversary of the Date of Grant; (ii) an additional 175,000 Option Shares shall vest on, and may be exercised, in whole or in part, at any time after, the second anniversary of the Date of Grant; and (iii) the remaining 275,000 Option Shares shall vest on, and may be exercised, in whole or in part, at any time after, the third anniversary of the Date of Grant.
Vesting and Time of Exercise. 1.2.1 Subject to the provisions of Sections 1.6, “Transfer and Assignment,” and 3, “Registration and Legends,” this Option shall vest and may be exercised at any time and from time to time as follows, provided at least one of the Holders is an officer of the Company at the time of exercise: (i) 1,500,000 Shares may be purchased if the Fair Market Value of the Common Stock is at least $.78 per share at any point during the term of Option; and (ii) 1,500,000 Shares may be purchased if the Fair Market Value of the Common Stock is at least $1.14 per share at any point during the term of Option. This Option will expire at 5:00 p.m., Des Moines, Iowa time, on July 5, 2008. The “
