Vesting and Time of Exercise Sample Clauses

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 “Fair Market Value” shall mean the average of the closing prices of the Common Stock on the five trading days preceding the date in question on the OTC Bulletin Board, or such other public market in which the Common Stock is then trading, on the date of the notice of exercise.
Sample 1
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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: 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. (b) The Option Holder understands that to the extent that the aggregate fair market value (determined at the time the Option was granted) of the shares of Common Stock with respect to which all incentive stock options within the meaning of Section 422 of the Code are exercisable for the first time by the Option Holder during any calendar year exceed $100,000, in accordance with Section 422(d) of the Code, such options shall be treated as options that do not qualify as incentive stock options.
Sample 1
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.
Sample 1
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. (b) The Option Holder understands that to the extent that the aggregate fair market value (determined at the time the Option was granted) of the shares of Common Stock with respect to which all incentive stock options within the meaning of Section 422 of the Code are exercisable for the first time by the Option Holder during any calendar year exceed $100,000, in accordance with Section 422(d) of the Code, such options shall be treated as options that do not qualify as incentive stock options.
Sample 1
Vesting and Time of Exercise. 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 chedule 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.
Sample 1
Vesting and Time of Exercise. 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: 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.
Sample 1
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.
Sample 1
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Related to Vesting and Time of Exercise

  • Vesting; Time of Exercise Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows:

  • Time of Exercise The purchase rights represented by this Warrant may be exercised in whole or in part during the Term.

  • Time of Exercise of Option The Optionee may exercise the option granted herein at any time after the effective date of this Agreement until the date of termination of the option as provided herein.

  • Vesting and Exercise Once vested, this Warrant may be exercised as -------------------- to such vested portion whether or not at the time of such exercise the Warrantholder is an employee of (or consultant to) the Company (or one or more of its subsidiaries); however, this Warrant shall automatically terminate as to any unvested portion at any such time as the Warrantholder is no longer employed by (or a consultant to) the Company (or any of its subsidiaries). If this Warrant is not exercised prior to 5:00 P.M. on the Expiration Date (or the next succeeding Business Day, if the Expiration Date is a Nonbusiness Day), this Warrant, or any new Warrant issued pursuant to Section 1.1, shall cease to be exercisable and shall become void and all rights of the Warrantholder hereunder shall cease. This Warrant shall not be exercisable, and no Warrant Shares shall be issued hereunder, prior to 9:00 A.M., New York City time, on the applicable Exercise Date.

  • Vesting and Exercise of Option The Option shall vest and become exercisable during its term in accordance with the following provisions:

  • Vesting and Exercisability (a) Options to purchase 87,500 shares, 43,750 shares and 43,750 shares, respectively, will vest on the first three anniversaries of the Start Date (as defined in the Employment Agreement). (b) If the Employee's employment with the Company terminates for any reason prior to the time that the Option has been fully exercised, the unexercised portion of the Option on the date of termination of employment (whether exercisable or not) shall immediately expire; provided, however, that (i) if the Employee's employment is terminated by reason of the Employee's disability (pursuant to Section 3.3 of the Employment Agreement), all portions of the Option that are vested at the time of termination shall remain exercisable for a period of one year from the date of such termination or until the expiration of the Exercise Period, whichever is shorter; (ii) in the event of the death of the Employee while in the employ of the Company, all portions of the Option that are vested at the time of death shall remain exercisable by the legal representative of the estate or by the legatee of the Employee under the will of the Employee for a period of one year from the date of such death or until the expiration of the Exercise Period, whichever is shorter; and (iii) in the event the Employee is terminated without "Cause" (as defined in the Employment Agreement), or Executive terminates his employment for "Good Reason" (as defined in the Employment Agreement), then the Option shall become fully vested and exercisable and may be exercised for a period of five years from the date of such termination of employment or until the expiration of the Exercise Period, whichever is shorter. (c) The Board of Directors may, in the event the Executive's employment is terminated for Cause (as provided for in the Employment Agreement), annul the Option and, in such event, may require the Executive to return to the Company the economic benefit of any Option Shares purchased hereunder by the Executive within the six month period prior to the date of termination. In such event, the Executive hereby agrees to remit to the Company, in cash, an amount equal to the difference between the fair market value of the Option Shares on the date of termination (or the sales price of such Shares if the Option Shares were sold during such six month period) and the exercise price of such Shares.

  • Vesting and Settlement The Restricted Shares shall cease to constitute Restricted Shares, and shall become unrestricted Shares, pursuant to the vesting schedule attached as Exhibit A.

  • Period of Exercisability Section 3.1 - Commencement of Exercisability (a) Options shall become exercisable as follows: Percentage of Option Date Option Shares Granted As to Which Becomes Exercisable Option Is Exercisable ------------------- --------------------- After the first anniversary of the Trigger Date 20% After the second anniversary of the Trigger Date 40% After the third anniversary of the Trigger Date 60% After the fourth anniversary of the Trigger Date 80% After the fifth anniversary of the Trigger Date 100% Notwithstanding the foregoing, (x) no Options shall become exercisable prior to the time the Plan is approved by the Company's stockholders, and (y) subject to the immediately preceding clause (x), the Options shall become immediately exercisable as to 100% of the shares of Common Stock subject to such Options immediately prior to a Change of Control (but only to the extent such Options have not otherwise terminated or become exercisable). (b) Notwithstanding the foregoing, no Option shall become exercisable as to any additional shares of Common Stock following the termination of employment of the Optionee for any reason other than a termination of employment because of death or Permanent Disability of the Optionee, and any Option (other than as provided in the next succeeding sentence) which is non-exercisable as of the Optionee's termination of employment shall be immediately cancelled. In the event of a termination of employment because of such death or Permanent Disability, the Options shall immediately become exercisable as to all shares of Common Stock subject thereto.

  • Method and Time of Exercise This Option shall be exercisable by any method permitted by the Plan and this Agreement that is made available from time to time by the external third party administrator of the Options. An exercise may be made with respect to whole Shares only, and not for a fraction of a Share. Shares shall not be issued under the Plan unless the issuance and delivery of such Shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded. The Committee may require the Optionee to take any reasonable action in order to comply with any such rules or regulations. Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such Shares.

  • 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.

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