Common use of Vesting of Option if Business Relationship Continues Clause in Contracts

Vesting of Option if Business Relationship Continues. The Participant may exercise this option on or after the date of this option grant for the number of shares of Common Stock, if any, indicated on the cover page hereof. If the Participant has continued to serve the Company or any Subsidiary in the capacity of an employee, officer, director, advisor or consultant (such service is described herein as maintaining or being involved in a “Business Relationship with the Company”) through the dates listed on the vesting schedule set forth on the cover page hereof, the Participant may exercise this option for the additional number of shares of Common Stock set opposite the applicable vesting date. Notwithstanding the foregoing, the Board may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and (subject to Sections 4 or 5 hereof if the Participant’s Business Relationship with the Company terminates) may be exercised only before the date which is ten years from the date of this option grant.

Appears in 3 contracts

Samples: Non Qualified Stock Option Agreement (Citrix Systems Inc), Non Qualified Stock Option Agreement (Citrix Systems Inc), Non Qualified Stock Option Agreement (Citrix Systems Inc)

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Vesting of Option if Business Relationship Continues. The Participant Optionee may exercise this option on or after the date of this option grant for the number of shares of Common Stock, if any, indicated on the cover page hereof. If the Participant Optionee has continued to serve continuously served the Company Corporation or any Subsidiary Related Entity (as defined in the capacity of Plan) as an employee, officer, director, consultant or advisor or consultant (such service is described herein as maintaining or being involved in a "Business Relationship with the Company”Relationship") through the dates listed on the vesting schedule set forth on the cover page hereof, the Participant Optionee may exercise this option for the additional number of shares of Common Stock set opposite the applicable vesting date. Notwithstanding the foregoing, the Board may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and (subject to Sections 4 or 5 hereof if the Participant’s Optionee ceases to maintain a Business Relationship with the Company terminates) Corporation and all Related Entities may be exercised only before the date which is ten years from the date of this option grant.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Sipex Corp)

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