Vesting of Stock Option. (a) Unless and until terminated as hereinafter provided, the Stock Option shall vest and become exercisable as follows:
(i) With respect to twenty-five percent (25%) of the Shares subject to the Stock Option, on November 22, 2014, provided that the Grantee shall have remained in the continuous employment or other service of the Company or a Subsidiary through such Vesting Date; and
(ii) With respect to seventy-five percent (75%) of the Shares subject to the Stock Option, ratably, on the first day of each month for thirty-six months, commencing December 1, 2014, provided that the Grantee shall have remained in the continuous employment or other service of the Company or a Subsidiary through each such Vesting Date.
(b) Notwithstanding the provisions of Section 2(a), the Stock Option will become immediately vested and exercisable in full if, prior to the applicable Vesting Date: (i) the Grantee’s employment or service with the Company and its Subsidiaries terminates by reason of the Grantee’s death or “Disability” (defined as permanent and total disability within the meaning of Section 22(e)(3) of the Code); or (ii) the Grantee’s employment or service is terminated within two years after a Change in Control: (A) by the Company and its Subsidiaries without Cause and not as a result of Disability; or (B) by the Grantee for Good Reason (defined as in Section 2(c) of this Agreement).
(c) For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following without the Grantee’s consent: (i) a material reduction of the Grantee’s annual base salary; (ii) a material reduction in the Grantee’s title, authority, responsibilities or reporting relationship as in effect immediately prior to the Change in Control; or (iii) the Company’s requirement that in order to perform his obligations to the Company, the Grantee must relocate his residence to a location more than fifty (50) miles from the Grantee’s principal office location immediately prior to a Change in Control. A termination of the Grantee’s employment or service by the Grantee shall not be deemed to be for Good Reason unless (x) the Grantee gives notice to the Company of the existence of the event or condition constituting Good Reason within 60 calendar days after such event or condition initially occurs or exists, and (y) the Company fails to cure such event or condition within 30 calendar days after receiving such notice.
Vesting of Stock Option. The Stock Option may be exercised, in whole or in part, at any time or from time to time during the balance of the term of the Stock Option pursuant to the vesting schedule set forth in Exhibit “A”, subject to Paragraph 11 hereof. The minimum number of shares of Common Stock for which this Stock Option may be exercisable at any one time is one hundred (100), unless the number of shares exercisable thereunder is less than one hundred (100). The Stock Option may only be exercised by the Participant (or by his or her guardian or legal representative), except as provided in Subparagraph 6.A. hereof in the case of the Participant’s death.
Vesting of Stock Option. (a) Unless and until terminated as hereinafter provided, the Stock Option shall vest and become exercisable to the extent of _______________ of the Shares on each of the Vesting Dates set forth above (each a "Vesting Date") (rounded down to the next whole number), provided that the Grantee shall have remained in the continuous employ of the Company or a Subsidiary through the applicable Vesting Date.
(b) Notwithstanding the provisions of Section 2(a), the Stock Option will become immediately vested and exercisable in full if, prior to the applicable Vesting Date: (i) the Grantee ceases to be employed with the Company and its Subsidiaries by reason of death or Disability (defined by reference to the long-term disability plan covering the Grantee that is maintained by the Company or a Subsidiary); or (ii) a Change in Control occurs while the Grantee is employed by the Company or any Subsidiary.
(c) For purposes of this Agreement, the continuous employment of the Grantee with the Company and its Subsidiaries shall not be deemed to have been interrupted, and the Grantee shall not be deemed to have ceased to be an employee of the Company and its Subsidiaries, by reason of the transfer of his employment among the Company and its Subsidiaries or a leave of absence or layoff approved by the Committee.
Vesting of Stock Option. Shares subject to the stock option described in Section 2.3 shall vest in accordance with and subject to the terms of the Stock Option Agreement.
Vesting of Stock Option. Subject to Sections 5, 6 and 9 hereof, the Option Shares shall become vested and exercisable based on the passage of time with 8.33% vesting at the end of each three-month period following the Date of Grant.
Vesting of Stock Option. The Stock Option shall become exercisable in accordance with the vesting schedule set forth on Schedule 1.
Vesting of Stock Option. This Option shall become exercisable as to 20% of the number of shares covered by this Option set forth above at any time on or after the first anniversary date of the Date of Grant (the “Date First Exercisable”). An additional 20% of the number of shares covered by this Option shall become purchasable at any time on or after each of the second through fifth anniversaries of the Date of Grant. To the extent not exercised, installments shall accumulate and be exercisable, in whole or in part, at any time after becoming exercisable, but not later than the Date of Expiration. The Company may accelerate the exercisability of this Option, or any portion thereof, at any time, by written notice to Optionee. Notwithstanding the above provisions of this Section 3, this Option shall become immediately exercisable in full upon (i) the occurrence of a Change in Control as defined in the Plan; or (ii) the death, Disability or Retirement of the Optionee as described in Section 4.
Vesting of Stock Option. (a) Unless and until terminated as hereinafter provided, the Stock Option shall vest and become exercisable with respect to the percentage of Shares set forth next to each vesting date above (each a “Vesting Date”) (subject to rounding conventions adopted by the Company from time to time; provided that in no event will the total Shares issued exceed the total granted under the award), provided that the Grantee shall have remained in the continuous employ of the Company or a Subsidiary through the applicable Vesting Date.
(b) Any portion of the Stock Option that has not yet vested pursuant to Section 2(a) of this Agreement shall be forfeited automatically and without further action or notice upon the termination of the Grantee’s employment or other service with the Company or any Subsidiary for any reason whatsoever, regardless of the circumstances thereof, and including, without limitation, termination of employment or other service upon death, disability, retirement, or discharge or resignation for any reason, whether voluntary or involuntary.
Vesting of Stock Option. Except as otherwise provided in this Agreement or the Plan, if the Participant remains continuously employed with the Employer, the Stock Option shall vest and become exercisable on each vesting date pursuant to the vesting schedule provided in the grant detail on the Administrator’s website.
Vesting of Stock Option. Except as hereinafter provided, the shares covered by this Stock Option shall vest according to the following schedule, provided the Participant has continued his or her Service with the Company or its Subsidiaries through such anniversary or anniversaries (as applicable, a “Vesting Date”). anniversary of Date of Grant anniversary of Date of Grant anniversary of Date of Grant
