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

Vesting of Option if Employment Continues. If the Employee has continued to be employed by the Company or any 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 date - [NUMBER] shares hereof One year but less than two years - an additional [NUMBER] shares from the date hereof Two years but less than three years - an additional [NUMBER] shares from the date hereof Three years but less than four years - an additional [NUMBER] shares from the date hereof Four years or more from the date - an additional [NUMBER] shares hereof 2 -2- Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Committee 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 Employee ceases to be employed by the Company and all Related Corporations) may be exercised on or before the date which is ten years from the date this option is granted.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Atlantic Data Services Inc)

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Vesting of Option if Employment Continues. If the Employee has ----------------------------------------- continued to be employed by the Company or any 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 date hereof - [NUMBER] 0 shares hereof One year but less than two years - an additional [NUMBER] shares from the - 20% of the Option Shares date hereof Two years but less than three years from - an additional [NUMBER] shares from 20% of the the date hereof Option Shares Three years but less than four years from - an additional [NUMBER] shares from 20% of the the date hereof Option Shares Four years or more from the date hereof - an additional [NUMBER] shares hereof 2 -2- 20% of the Option Shares Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Committee 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 Employee ceases to be employed by the Company and all Related Corporations) may be exercised on or before the date which is ten years from the date this option is granted.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Excel Switching Corp)

Vesting of Option if Employment Continues. If the Employee has continued to be employed by the Company or any 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 date - [NUMBER] (VestingNumber) shares hereof One year but less than two years from - an additional [NUMBER] (VestingNumber) shares from the date hereof Two years but less than three years - an additional [NUMBER] (VestingNumber) shares from the date hereof Three years but less than four years - an additional [NUMBER] (VestingNumber) shares from the date hereof Four years or more from the date - an additional [NUMBER] (VestingNumber) shares hereof 2 -2- Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Committee 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 Employee ceases to be employed by the Company and all Related Corporations) may be exercised on or before the date which is ten years from the date this option is granted.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Gulf South Medical Supply Inc)

Vesting of Option if Employment Continues. If the Employee has continued to be employed by the Company or any 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 - [number] shares the date - [NUMBER] shares hereof One year but less than two years - an additional [NUMBER] shares two years from the date hereof [number] shares Two years but less than three years - an additional [NUMBER] shares three years from the date hereof [number] shares Three years but less than four years - an additional [NUMBER] shares four years from the date hereof [number] shares Four years or more from the date - an additional the date hereof [NUMBERnumber] shares hereof 2 -2- Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Committee 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 Employee ceases to be employed by the Company and all Related Corporations) may be exercised on or before the date which is ten years from the date this option is granted.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Versatility Inc)

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Vesting of Option if Employment Continues. If the Employee has continued to be employed by the Company or any 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 date - ___ shares [NUMBERVesting Date] shares hereof One year but less than - ___ shares two years - an additional from [NUMBERVesting Date] shares from the date hereof Two years but less than three years - an additional three years from [NUMBERVesting Date] ___ shares from the date hereof Three years but less than four years - an additional four years from [NUMBERVesting Date] ___ shares from the date hereof Four years or more from the date - an additional [NUMBERVesting Date] ___ shares hereof 2 -2- Notwithstanding the foregoing, in accordance with and subject to the provisions of the Plan, the Committee 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 and, while the Employee ceases continues to be employed by the Company and all or any Related Corporations) Corporation, may be exercised on or before the date which is ten 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 and all Related Corporations.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Metabolix, Inc.)

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