Vesting; Exercise of Option. (a) Subject to the terms and conditions of this Agreement and provided that the Optionee continues to provide Service (as defined in Section 6 below) to the Company (or any Related Entity) through the applicable date. This Option shall vest and become exercisable during its term as follows:
Vesting; Exercise of Option. The Option will be exercisable during the Term only to the extent that it is then vested and then only in accordance with the terms and provisions of this Agreement.
Vesting; Exercise of Option a. The Option granted hereunder shall vest in three cumulative installments on each of the first through third anniversaries of [date of grant]. The vested portion of the Option shall be exercisable in whole or in part at any time, or from time to time prior to the expiration of the Option; provided that the election to exercise the Option shall be made in accordance with applicable federal and state laws and regulations.
Vesting; Exercise of Option. (a) This Option shall is fully vested and immediately exercisable as to all shares of Stock.
Vesting; Exercise of Option. Until the expiration of this Option pursuant to Section 3 or Section 5 of this Agreement, the Optionee may exercise it as to the number of Option Shares identified in the table below, in full or in part, at any time on or after the applicable vesting date or dates identified in the table, provided the Optionee remains continuously employed with the Company as the Chief Executive Officer or Executive Chairman, or otherwise employed as the Optionee and the Committee may agree, through the applicable vesting date or dates (except as provided at Section 5, below). However, subject to Section 5 of this Agreement, during any period that this Option remains outstanding after the Optionee’s employment with the Company and its Affiliates ends, the Optionee may exercise it only to the extent it was vested and exercisable immediately prior to the end of the Optionee’s employment. Vesting Date for Option Shares in Installment Number of Shares in Each Installment Tranche 1 Tranche 2 Tranche 3 July 6, 2023July 6, 2024July 6, 2025July 6, 2026 100,000100,000100,000100,000 100,000100,000100,000100,000 100,000100,000100,000100,000 Section 7.1(e) of the Plan sets forth the procedure for exercising this Option by paying cash or a check made payable to the order of the Company in an amount equal to the aggregate Exercise Price of the Stock to be purchased, or by delivering other shares of Stock of equivalent Market Value. The Optionee may also exercise this Option pursuant to a formal cashless exercise program as referred to in Section 7.1(e) of the Plan, subject to the terms and conditions referred to in Section 7.1(e) of the Plan.
Vesting; Exercise of Option. Subject to paragraphs 3, 4, 5, and 7, this Option shall become exercisable in accordance with following schedule: [vesting schedule to be inserted] Once this Option has become exercisable in accordance with the preceding schedule it shall continue to be exercisable with respect to such Option Shares until the termination of Optionee's rights hereunder pursuant to paragraphs 3, 4, 5, or 6, or until the Expiration Date, whichever occurs first. A partial exercise of this Option shall not affect Optionee's right to exercise this Option with respect to the remaining Option Shares, subject to the conditions of the Plan and this Agreement. Any portion of this Option which has not become exercisable on the effective date of termination of Optionee's employment by the Company shall lapse.
Vesting; Exercise of Option. The Option shall vest on the first anniversary of the Effective Date and, except as set forth in Section 13 hereof, shall be exercisable thereafter, in whole or in part, at any time and from time to time prior to the Termination Date, by Director so long as he is serving as a Director. The foregoing notwithstanding, to the extent that the Option has not yet become exercisable, all of the Director’s Shares shall vest and the Option shall become exercisable immediately for such Director’s Shares in the event that (i) the Board and, if required by law, the shareholders of the Corporation shall approve any transaction that results in a Change in Control; provided, however, that no acquisition of stock by any person in a public offering or private placement of the Company’s Common Stock or other transaction approved by the Company’s Board of Directors shall be considered a Change in Control.
Vesting; Exercise of Option. This option may be exercised by the Optionee (or, after his death, by the person designed in Section 4) only in accordance with the following provisions:
Vesting; Exercise of Option. This Option to purchase shall be exercisable by the Employee only pursuant to PARAGRAPH 7 of the Plan and shall not be exercisable after the expiration of ten (10) years from May 15, 1996. Subject to the foregoing limitation, 10,000 of said Options will become exercisable on the later of (i) the July 1, 1996 and (ii) the approval of the Amendment (as defined in that certain Employment Agreement dated June 20, 1996 (the "Employment Agreement")) by the Company's stockholders, and an additional 20,000 of the Options will become exercisable on July 1, 1997. To the extent that the Employee exercises his rights during the period of this Option Agreement to purchase less than the total amount of Option Shares offered hereunder, the number of Option Shares offered thereafter shall be accordingly reduced. However, in the case of an employee who owns (at the date the Option is granted) more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of one or more of its subsidiary corporations, then this Option shall be exercisable by the Employee within a period of five (5) years from July 1, 1996. The Option shall be exercisable in writing by registered or certified mail to the Company. In the event the Employee ceases to be an Employee of the Employer, other than by death or disability or following a Change in Control (as defined in the Plan), except then, as otherwise set forth herein or in the Plan, the right to exercise this Option shall immediately cease on the day of such termination. Notwithstanding anything to the contrary contained herein or in the Employment Agreement or the Plan, unless the Employee shall have ceased to be employed by the Employer prior to the occurrence of a Change in Control, the Employee shall continue to have the right to exercise this Option for a period of the longer of (i) the period otherwise provided in accordance with the Plan and (ii) ninety (90) days following the occurrence of said Change in Control.
Vesting; Exercise of Option
