Common use of Vesting; Exercisability Clause in Contracts

Vesting; Exercisability. The Options shall vest (and thereby become exercisable) over a period of four (4) years pursuant to the terms of the Stock Option Agreement and the Plan; provided, however, that, on the first anniversary of the Effective Date of this Agreement, 75,000 of the Options may be cancelled by the Board of Directors of the Company in its reasonable discretion based upon performance.

Vesting; Exercisability. The Options shall vest (and thereby become exercisable) over a period of four (4) years pursuant to the terms of the Stock Option Agreement and the Plan; provided, however, that, on the first anniversary of the Effective Date of this Agreement, 75,000 150,000 of the Options may be cancelled by the Board of Directors of the Company in its reasonable discretion based upon performance.

Vesting; Exercisability. The Options shall vest (and thereby become exercisable) over a period of four (4) years pursuant to the terms of the Stock Option Agreement and the Plan; provided, however, that, on the first anniversary of the Effective Date of this AgreementApril 4, 2004, 75,000 of the Options may be cancelled by the Board of Directors of the Company in its reasonable discretion based upon performance.

Vesting; Exercisability. The Options shall vest (and thereby become exercisable) over a period of four (4) years pursuant to the terms of the Stock Option Agreement and the Plan; provided, however, that, on the first anniversary of the Effective Date of this AgreementNovember 1, 75,000 2003, 150,000 of the Options may be cancelled by the Board of Directors of the Company in its reasonable discretion based upon performance.

Vesting; Exercisability. The Options shall vest (and thereby become exercisable) over a period of four (4) years pursuant to the terms of the Stock Option Agreement and the Plan; provided, however, that, on the first anniversary of the Effective Date of this Agreement, 75,000 150,000 of the Options may be cancelled by the Board of Directors of the Company in its reasonable discretion based upon performance.. Xxxxxx X. Xxxxxx – First Amended and Restated Employment Agreement 4