Vesting of the Option. Subject to the Participant’s continued service to the Company through the applicable vesting date and the terms of the Plan, the Option shall vest in equal installments on each of the first five (5) anniversaries of the Date of Grant, such that twenty percent (20%) of the Option vests on each such anniversary (each, a “Vesting Date”). At any time, the portion of the Option which has become vested in accordance with the terms hereof shall be called the “Vested Portion.”
Vesting of the Option. Subject to Section 6 hereof, the Option may be exercised at any time or from time to time during the Option Period, as to any part or all of the shares covered thereby in accordance with the following vesting schedule:
(a) twenty five percent (25%) of the Option may be exercised at any time on or after the first anniversary of the Effective Date;
(b) fifty percent (50%) of the Option may be exercised at any time on or after the second anniversary of the Effective Date;
(c) seventy five percent (75%) of the Option may be exercised at any time on or after the third anniversary of the Effective Date; and
(d) one hundred percent (100%) of the Option may be exercised at any time on or after the fourth anniversary of the Effective Date.
Vesting of the Option. The Option granted pursuant to this Agreement shall vest and become exercisable in accordance with the following provisions:
Vesting of the Option. As long as the Optionee remains an employee of the Company, the options granted hereby shall vest based on the following schedule:
Vesting of the Option. Except as otherwise provided in the Plan or this Agreement, 25% of the Shares covered by this Option shall become vested and exercisable on the first anniversary of the Grant Date, and 25% shall become vested and exercisable on each of the subsequent three anniversaries of the first vesting date, provided that the Optionee is employed by the Company on each such applicable vesting date. Any fraction of a Share that becomes vested and exercisable on any date will be rounded down to the next lowest whole number, with any such fraction added to the portion of the Option (if any) becoming vested and exercisable on the following vesting date.
Vesting of the Option. The Option shall, subject to the Participant’s continued Employment, vest and become exercisable on the earlier to occur of either:
(i) the date (A) affiliates of Blackstone sell more than twenty-five percent (25%) of the equity interests of the JV (the “JV Shares”) held by it on the Transaction Date at a weighted average price in excess of the equivalent of $4,200 per share and (B) McKesson distributes more than fifty percent (50%) of the JV Shares held by it on the Transaction Date, or
(ii) McKesson and affiliates of Blackstone, collectively, sell more than twenty-five percent (25%) of the aggregate number of JV Shares held by McKesson and Blackstone on the Transaction Date, at a weighted average price in excess of the equivalent of $4,200 per share. No portion of the Option shall vest solely as a result of any transaction in which McKesson disposes of or distributes equity owned by it in the JV to its shareholders.
Vesting of the Option. Provided that the Optionee remains in the continuous employment of the Company through the vesting period, the Option shall vest and become exercisable in accordance with the following schedule: There shall be no proportional vesting prior to any Vesting Date; all vesting shall occur only on the Vesting Date.
Vesting of the Option. Subject to the earlier expiration or termination of this Option in accordance with its terms, the Option Shares granted under this Option Agreement will be exercisable as follows:
Vesting of the Option. (a) Subject to the Participant’s continued Employment through the applicable vesting date, the Option shall vest and become exercisable at the times set forth on the signature page hereto.
Vesting of the Option. (a) Subject to Section 4 below and the other terms and conditions of this Grant Agreement and the Plan, this Option shall vest and become exercisable on the following dates, if the Employee has remained continuously employed by the Employer from the Date of Grant through the vesting date; provided, however, that the Option shall vest and become immediately exercisable in full (i) immediately prior to the effectiveness of a Change in Control if the Employee is employed by the Employer as of such date or (ii) upon the Employee’s Termination of Service (as defined below) due to the Employee’s death or Permanent Disability (as defined in the Employment Agreement): First Anniversary of Date of Grant 33 1/3 % Second Anniversary of Date of Grant 33 1/3 % Third Anniversary of Date of Grant 33 1/3 % The exercisability of the Option is cumulative, but shall not exceed 100% of the shares subject to the Option. If the foregoing schedule would produce fractional shares, the number of shares for which the Option becomes exercisable shall be rounded down to the nearest whole share.
(b) In the event of the Employee’s Termination of Service for Good Reason (as defined in the Employment Agreement) or not for Cause (as defined in the Employment Agreement) prior to a Change in Control (as defined in the Employment Agreement) and Employee executes (and does not revoke) a Release (as defined in the Employment Agreement), (i) the vested portion of the Option as of the termination date shall remain exercisable until the earlier of the first anniversary of the termination date or the expiration of the Option term and (ii) the unvested portion of the Option as of the termination date shall continue to vest as if Employee had remained employed by the Employer through the first anniversary of the termination date and any portion of the Option that vests during the one-year period following the termination date shall remain exercisable until the earlier of the one-year period following the applicable vesting date or the expiration of the Option term.
(d) Unless otherwise provided by the Committee, all amounts receivable in connection with any adjustments to the Company Stock under Section 5(d) of the 2007 Plan shall be subject to the vesting schedule in this Section 3.
