Common use of Vesting Options Clause in Contracts

Vesting Options. (a) The amount of shares of Common Stock subject to this Option shall become exercisable as follows: __________on the date hereof,__________ on the first anniversary of the date hereof [and ____________ on the second anniversary of the date hereof], subject to the provision of Section 1 hereof. [ Alternative-The amount of shares of Common Stock subject to this Option shall become exercisable on the date hereof, subject to the provision of Section 1 hereof and the Plan.] (b) An Option shall be exercisable by written notice of such exercise, in the form prescribed by the Board to the Company, at its principal executive office. The notice shall specify the number of shares for which the option is being exercised, be signed by the Optionee and shall be accompanied by payment in cash or by check of the amount of the full purchase price of such shares or in such manner as the Board shall deem acceptable consistent with the provisions of the Plan. (c) No shares shall be delivered upon exercise of this Option until all laws, rules and regulations which the Board may deem applicable have been complied with. If a registration statement under the Act is not then in effect with respect to the shares issuable upon such exercise, the Company may require as a condition precedent., among other things (i) that the person exercising the

Vesting Options. (a) The amount of shares of Common Stock subject to this Option shall become exercisable as follows: __________on the date hereof,__________ on the first anniversary of the date hereof [and ____________ on the second anniversary of the date hereof], subject to the provision of Section 1 hereofhereof and the Plan. [ Alternative-The amount of shares of Common Stock subject to this Option shall become exercisable on the date hereof, subject to the provision of Section 1 hereof and the Plan.] (b) An Option shall be exercisable by written notice of such exercise, in the form prescribed by the Board to the Company, at its principal executive office. The notice shall specify the number of shares for which the option is being exercised, be signed by the Optionee and shall be accompanied by payment in cash or by check of the amount of the full purchase price of such shares or in such manner as the Board shall deem acceptable consistent with the provisions of the Plan. (c) No shares shall be delivered upon exercise of this Option until all laws, rules and regulations which the Board may deem applicable have been complied with. If a registration statement under the Act is not then in effect with respect to the shares issuable upon such exercise, the Company may require as a condition precedent., among other things (i) that the person exercising the

Vesting Options. (a) The amount of shares of Common Stock subject to this Option shall become exercisable as follows: __________225,000 shall vest on the date hereof,__________ on the first anniversary Grant Date and 1,200,000 shall vest in accordance with section 2.6 of the date hereof [and ____________ on the second anniversary Employment Agreement, a copy of the date hereof], subject to the provision of Section 1 hereof. [ Alternative-The amount of shares of Common Stock subject to this Option shall become exercisable on the date hereof, subject to the provision of Section 1 hereof and the Plan.]which is attached hereto as Exhibit A. (b) An This Option shall be exercisable by written notice of such exercise, in the form prescribed by the Board to the Company, at its principal executive office. The notice shall specify the number of shares for which the option Option is being exercised, be signed by the Optionee and shall be accompanied by payment in cash or by check of the amount of the full purchase price of such shares or in such manner as the Board shall deem acceptable consistent with the provisions of the Planacceptable. (c) No shares shall be delivered upon exercise of this Option until all laws, rules and regulations which the Board may deem applicable have been complied with. If a registration statement under the Act is not then in effect with respect to the shares issuable upon such exercise, the Company may require as a condition precedent., among other things (i) that the person exercising thethe Option give to the Company a written representation and undertaking, satisfactory in form and substance to the Company, that such person is acquiring the shares for his own account for investment and not with a view to the distribution thereof and/or (ii) an opinion of counsel satisfactory to the Company with respect to the existence of an exemption from the registration requirements of the Act, in which event the person(s) acquiring the Common Stock shall be bound by the provisions of the following legend which shall be endorsed upon the certificate