Common use of Vesting of Option if Employment Continues Clause in Contracts

Vesting of Option if Employment Continues. For the purpose of determining the vesting of the option granted hereunder, the vesting date will be <date> (the “Vesting Date”) and the option will vest over three years. If the Employee has continued to be employed by the Company or any Subsidiary on the following dates, the Employee may exercise this option for the number of shares of Common Stock set opposite the applicable date: Less than one year from the Vesting Date - No Shares One year from the Vesting Date - 33.33% Each subsequent quarter following one year from the Vesting Date - an additional 8.34% of the total number of shares granted Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Compensation and Option Committee (the “Committee”) may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and, while the Employee continues to be employed by the Company or any Subsidiary, this option may be exercised on or before the date which is 7 years from the date this option is granted. All of the foregoing rights are subject to Sections 4 and 5, as appropriate, if the Employee ceases to be employed by the Company or any Subsidiary.

Appears in 3 contracts

Samples: Incentive Stock Option Agreement, Qualified Stock Option Agreement (Seachange International Inc), Incentive Stock Option Agreement (Seachange International Inc)

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Vesting of Option if Employment Continues. For the purpose of determining the vesting of the option granted hereunder, the vesting date will be <date> (the “Vesting Date”) and the option will vest over three ____ years. If the Employee has continued to be employed by the Company or any Subsidiary of the Company on the following dates, the Employee may exercise this option for the number of shares of Common Stock set opposite the applicable date: Less than one year ____ from the Vesting Date - No Shares One year shares ____ from the Vesting Date - 33.33% Each subsequent quarter ___ following one year ____ from the Vesting Date - an An additional 8.34___% of the total number of shares granted Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Compensation and Option Committee Board of Directors (the "Board") or a committee selected by the Board (the "Committee") may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and, while the Employee continues to be employed by the Company or any SubsidiarySubsidiary of the Company, this option may be exercised on or before the date which is 7 10 years from the date this option is granted. All of the foregoing rights are subject to Sections 4 and 5, as appropriate, if the Employee ceases to be employed by the Company or any Subsidiaryand all Subsidiaries of the Company.

Appears in 2 contracts

Samples: Non Qualified Stock Option Agreement for Employees (Southwall Technologies Inc /De/), Non Qualified Stock Option Agreement for Employees (Southwall Technologies Inc /De/)

Vesting of Option if Employment Continues. For the purpose of determining the vesting of the option granted hereunder, the vesting date will be <date> (the “Vesting Date”) and the option will vest over three years. If the Employee has continued to be employed by the Company or any Subsidiary on the following dates, the Employee may exercise this option for the number of shares of Common Stock set opposite the applicable date: Less than one year from the Vesting Date - No Shares One year from the Vesting Date - 33.33% Each subsequent quarter following one year from the Vesting Date - an additional 8.34% of the total number of shares granted Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Compensation and Option Committee (the “Committee”) may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and, while the Employee continues to be employed by the Company or any Subsidiary, this option may be exercised on or before the date which is 7 10 years from the date this option is granted. All of the foregoing rights are subject to Sections 4 and 5, as appropriate, if the Employee ceases to be employed by the Company or any Subsidiary.

Appears in 2 contracts

Samples: Qualified Stock Option Agreement (Seachange International Inc), Incentive Stock Option Agreement (Seachange International Inc)

Vesting of Option if Employment Continues. For the purpose of determining the vesting of the option granted hereunder, the vesting date will be <date> (the “Vesting Date”) and the option will vest over three four years. If the Employee has continued to be employed by the Company or any Subsidiary Related Corporation on the following dates, the Employee may exercise this option for the number of shares of Common Stock set opposite the applicable date: Less than one year from the Vesting Date - No Shares shares One year from the Vesting Date - 33.33% Each subsequent quarter following one year from the Vesting Date - an additional 8.346.25% of the total number of shares granted Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Compensation and Option Committee (the “Committee”) may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and, while the Employee continues to be employed by the Company or any SubsidiaryRelated Corporation, this option may be exercised on or before the date which is 7 10 years from the date this option is granted. All of the foregoing rights are subject to Sections 4 and 5, as appropriate, if the Employee ceases to be employed by the Company or any Subsidiaryand all Related Corporations.

Appears in 1 contract

Samples: Qualified Stock Option Agreement (Seachange International Inc)

Vesting of Option if Employment Continues. For the purpose of determining the vesting of the option granted hereunder, the vesting date will be <date> (the “Vesting Date”) and the option will vest over three years. If the Employee has continued to be employed by maintained a continuous employment relationship with the Company or any Subsidiary through the dates listed on the following datesvesting schedule set forth on the cover page hereof, the Employee may exercise this option for Unvested Shares shall become Vested Shares (or shall “vest”) on such dates in an amount equal to the number of shares of Common Stock set opposite the applicable date: Less than one year from date on the Vesting Date - No cover page hereof. Option Shares One year from which are “Unvested Shares” shall not be exercisable unless and until they become “Vested Shares.” Subject to the Vesting Date - 33.33% Each subsequent quarter following one year from the Vesting Date - an additional 8.34% terms and conditions of the total number of shares granted this Agreement, Vested Shares may be exercised at any time. Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Compensation and Option Committee (the “Committee”) Board may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and, while the Employee continues to be employed by the Company or any Subsidiary, this option may be exercised on or before the date which is 7 years from the date this option is granted. All of the foregoing rights are and (subject to Sections 4 and 5, as appropriate, or 5 hereof if the Employee ceases to be employed by the Company or any SubsidiaryCompany) may be exercised only before the date which is ten years from the date of this option grant (the “Expiration Date”). In the case of an Employee owning stock possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company, the Expiration Date shall be five years.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Acell Inc)

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Vesting of Option if Employment Continues. For the purpose of determining the vesting of the option granted hereunder, the vesting date will be <date> (the “Vesting Date”) and the option will vest over three four years. If the Employee has continued to be employed by the Company or any Subsidiary Related Corporation on the following dates, the Employee may exercise this option for the number of shares of Common Stock set opposite the applicable date: Less than one year from the Vesting Date - No Shares One year from the Vesting Date - 33.33% Each subsequent quarter following one year from the Vesting Date - an additional 8.346.25% of the total number of shares granted Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Compensation and Option Committee (the “Committee”) may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and, while the Employee continues to be employed by the Company or any SubsidiaryRelated Corporation, this option may be exercised on or before the date which is 7 10 years from the date this option is granted. All of the foregoing rights are subject to Sections 4 and 5, as appropriate, if the Employee ceases to be employed by the Company or any Subsidiaryand all Related Corporations.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Seachange International Inc)

Vesting of Option if Employment Continues. For the purpose of determining the vesting of the option granted hereunder, the vesting date will be <date> (the “Vesting Date”) and the option will vest over three ____ years. If the Employee has continued to be employed by the Company or any Subsidiary of the Company on the following dates, the Employee may exercise this option for the number of shares of Common Stock set opposite the applicable date: Less than one year ________ from the Vesting Date - No Shares One year ________ from the Vesting Date - 33.33% Each subsequent quarter _______ following one year ________ from the Vesting Date - an additional 8.34____% of the total number of shares granted Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Compensation and Option Committee Board of Directors (the “Board”) or a committee selected by the Board (the “Committee”) may, in its discretion, accelerate the date that any installment of this option becomes exercisable. The foregoing rights are cumulative and, while the Employee continues to be employed by the Company or any SubsidiarySubsidiary of the Company, this option may be exercised on or before the date which is 7 10 years from the date this option is granted. All of the foregoing rights are subject to Sections 4 and 5, as appropriate, if the Employee ceases to be employed by the Company or any Subsidiaryand all Subsidiaries of the Company.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Southwall Technologies Inc /De/)

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