Vesting Exercise Period. The Option shall become exercisable as to portions of the Shares as follows: (i) the Option shall not be exercisable with respect to any of the Shares until the first anniversary of the Effective Date (the “First Vesting Date”); (ii) if Optionee has continuously provided services to the Company or any Subsidiary from the Effective Date through the First Vesting Date and has not been Terminated (as hereafter defined) on or before the First Vesting Date, then on the First Vesting Date the Option shall become exercisable as to twenty percent (20%) of the Shares; and (iii) thereafter, provided that Optionee continuously provides services to the Company or any Subsidiary of the Company and is not Terminated, upon each of the four successive anniversaries of the First Vesting Date, the Option shall become exercisable as to an additional twenty percent (20%) of the Shares; provided, that the Option shall in no event ever become exercisable with respect to more than 100% of the Shares. The Shares vesting under the Option have been limited to the number of Shares allowed to conform to the $100,000 limit set forth at Section 9.1(b) of the Plan.
Vesting Exercise Period. 4.1. Subject to the provisions of the Plan, Options shall vest and become exercisable according to the vesting schedule and acceleration provisions set forth in Exhibit B hereto.
4.2. As per the rules of the TASE, due to transition to clearing on T+ 1 in shares and convertible securities, no conversion of options shall take place on the effective date to distribution of bonus shares, offering by way of rights, distribution of dividends, capital consolidation, capital split or reduction of capital (each of the above- "Company Event"). Additionally, if the ex day of the Company Event shall occur prior to the effective date of the Company Event, no conversion of options shall take place on the ex day as aforesaid.
4.3. At the expiration of the Exercise Period, all unexercised Options shall become null and void.
Vesting Exercise Period. The Warrant Shares shall vest and be exercisable ninety (90) days after the Date of Issuance. Subject to the vesting schedule and except as restricted as set forth in § 1.2 below, Holder may exercise this Warrant, in whole or in part, at any time and from time to time after April 1, 2009, (“Date of Issuance”) and prior to 5:00 p.m. Lenexa, Kansas time, on March 31, 2011 (the “Expiration Date”).
Vesting Exercise Period. (a) The Option shall be fully vested as of . However, no portion of the Option shall become exercisable until the date, if any, that (i) the stockholders of the Company approve the terms of this Agreement and (ii) AMEX approves the listing of the Option Shares. Upon satisfaction of both conditions, the Option shall become fully exercisable. If the stockholders do not approve the terms of this Agreement at the 2006 Annual Meeting of Stockholders or AMEX does not approve listing of the Option Shares, this Agreement and any prior agreement regarding the 2005 Option shall immediately terminate and the Optionee shall have no further rights under the Option.
(b) The period for the exercise of the Option shall terminate at 5:00 p.m., San Diego, California time on , unless the Option is terminated earlier as provided in this Agreement. Notwithstanding the foregoing, to the extent not earlier terminated, the vested and exercisable portion of the Option shall terminate three months after the Optionee ceases to be a director of the Company.
Vesting Exercise Period. The Option shall become exercisable as to portions of the Shares as follows: (i) the Option shall not be exercisable with respect to any of the Shares until the first anniversary of the Effective Date (the “First Vesting Date”); (ii) if Optionee has continuously provided services to the Company or any Subsidiary from the Effective Date through the First Vesting Date and has not been Terminated (as hereafter defined) on or before the First Vesting Date, then on the First Vesting Date the Option shall become exercisable as to Shares; and (iii) thereafter, provided that Optionee continuously provides services to the Company or any Subsidiary of the Company and is not Terminated, upon each successive anniversary of the First Vesting Date, the Option shall become exercisable as to an additional Shares; provided, that the Option shall in no event ever become exercisable with respect to more than 100% of the Shares.
Vesting Exercise Period. The Warrant Shares shall vest and be exercisable as follows: (a) Five Thousand (5,000) Warrant Shares upon the Date of Issuance, and (b) Ten Thousand (10,000) Warrant Shares on May 21, 2006, and (c) Ten Thousand (10,000) Warrant Shares on November 21, 2006, unless the Independent Contractor Service Agreement entered into on or about November 21, 2005 by and between Company and Holder is terminated prior to such vesting date, in which case, all Warrant Shares which have not vested shall be cancelled and shall be null and void. Subject to the vesting schedule and except as restricted as set forth in § 1.2 below, Holder may exercise this Warrant, in whole or in part, at any time and from time to time after September 28, 2005, (“Date of Issuance”) and prior to 5:00 p.m. Lenexa, Kansas time, on November 20, 2010 (the “Expiration Date”).
Vesting Exercise Period. The Warrant Shares shall vest and be exercisable as follows: (a) Ten Thousand (10,000) Warrant Shares upon the Date of Issuance, and (b) Fifteen Thousand (15,000) Warrant Shares on September 28, 2006, unless the Service Agreement entered into on or about September 28, 2005 by and between Company and Holder is terminated prior to such vesting date, in which case, all Warrant Shares which have not vested shall be cancelled and shall be null and void. Subject to the vesting schedule and except as restricted as set forth in § 1.2 below, Holder may exercise this Warrant, in whole or in part, at any time and from time to time after September 28, 2005, (“Date of Issuance”) and prior to 5:00 p.m. Lenexa, Kansas time, on the earlier of the following dates, (a) the twenty-fourth (24) month following the successful registration of the Warrant Shares as provided for in § , or, (b) should the Company be unable to register the Warrant Shares, the Warrant shall expire on the twenty-fourth (24) month following the first attempted registration of the underlying shares of the Company’s Common Stock (the “Expiration Date”). The Company shall provide Holder written notice of the registration or attempted registration of the Warrant Shares.
Vesting Exercise Period. 6.1 Unless determined otherwise by the Committee or Board, upon approval of the Option Grant or thereafter, Options underlying an Option Grant shall vest over four years, commencing on the vesting commencement date (the "VESTING COMMENCEMENT DATE") as determined by the Committee. ORSUS SOLUTIONS LIMITED - 2007 INCENTIVE OPTION PLAN
6.2 The vesting schedule of each Option Grant shall be as determined by the Committee. However, unless determined otherwise by the Committee or Board, upon approval of the Option Grant or thereafter, the following shall apply: 25% of the Total Option Amount shall vest on the first anniversary of the Vesting Commencement Date, and additional 1/48 of the Total Option Amount shall vest on the last day of each month period immediately after the first anniversary of the Vesting Commencement Date. In the case that as a consequence of the vesting schedule mentioned above a fraction of vested Option is created, then such fraction shall be rounded up to the nearest whole.
6.3 Notwithstanding anything to the contrary in this Plan, all Options shall terminate and not bestow any rights on their owner after ten years from the date the Options were granted. All Options that have not been exercised by such date shall expire immediately and the Participants shall not have any claim against the Company with respect thereto.
6.4 The period within which Options are exercisable shall be called the "EXERCISE PERIOD".
Vesting Exercise Period. The Company agrees to accelerate the vesting of all options set forth in Schedule “A” which by their terms have not vested as of the Effective Date. The RSUs shall vest in accordance with their original terms. All options set forth in Schedule “A” shall remain exercisable until the earliest of: (i) their original respective date of expiry (as set forth in the column entitled Original Expiry Date, where applicable); (ii) the third anniversary of the date on which Executive no longer serves on the Board and is otherwise no longer a Participant or in a Service Relationship with the Company; or (iii) termination in connection with a Change in Control (as such term is defined in the Original Plan) or a Sale Event (as such term is defined in the 2020 Plan), as applicable.
Vesting Exercise Period. Notwithstanding anything contained in the Option Agreement to the contrary, Optionee shall not exercise the Option with respect to any of the Shares, prior to January 1, 2005 (the “Last Vesting Date”). Notwithstanding that Optionee shall not be an employee of the Corporation commencing after the date hereof and notwithstanding anything contained in the Option Agreement to the contrary, the Option shall become exercisable as to the final 20% of the Shares (10,000 Shares) on January 1, 2005, provided that Optionee has not breached the Option Agreement, as amended hereby. The expiration period of the Option shall be as set forth in the Option Agreement.
