Vesting Option Sample Clauses

Vesting Option. (a) If, not later than the end of the Term of this Lease as defined in Section 2 of this Lease, the Company gives written notice of its desire to purchase the Premises, the Lessor shall convey the Premises to Lessee as soon thereafter as the necessary documents may be prepared and closing scheduled as set forth in this section.

Vesting Option. Subject to the following and the provisions of section "4.9" hereinbelow, and as soon as reasonably practicable 60 calendar days after the Effective Date hereof, it is hereby acknowledged and agreed that the Employee will be granted, subject to the rules and policies of the Regulatory Authorities and applicable securities legislation, the terms and conditions of the Company's existing stock option plan (the "Option Plan") and the final determination of the Board of Directors of the Company, acting reasonably, a vesting incentive stock option or options (each a "Vesting Option") for the purchase of up to an aggregate of 200,000 common shares of the Company (each an "Option Share"); exercisable for a period of not less than two years from the date of grant at an exercise price of U.S. $0.65 per Option Share; however, subject, at all times, to any such Vesting Option vesting and being exercisable by the Employee only in equal monthly proportions over a period of 12 months commencing one month after the date of grant.

Vesting Option. Notwithstanding anything herein to the contrary, in the event that Executive's employment with the Company ceases following expiration of the Term, any portion of the Time-Vesting Option that is not fully vested and exercisable at such time shall immediately become exercisable in full and shall remain exercisable for its originally scheduled term.