Vesting Termination of Employment. (a) Subject to the earlier termination or cancellation of the Option as set forth herein or in the Plan, the Option shall become vested (but not exercisable) as follows, in each case so long as the Participant’s Employment has not theretofore terminated: (i) Prior to the first (1st) anniversary of the Date of Grant, no portion of the Option shall be considered vested; (ii) On and after the first (1st) anniversary of the Date of Grant, the Option shall be vested with respect to an aggregate of 20% of the Shares; (iii) On and after the second (2nd) anniversary of the Date of Grant, the Option shall be vested with respect to an aggregate of 40% of the Shares; (iv) On and after the third (3rd) anniversary of the Date of Grant, the Option shall be vested with respect to an aggregate of 60% of the Shares; (v) On and after the fourth (4th) anniversary of the Date of Grant, the Option shall be vested with respect to an aggregate of 80% of the Shares; and
Appears in 9 contracts
Samples: Nonqualified Stock Option Agreement (Hawker Beechcraft Notes Co), Nonqualified Stock Option Agreement (Hawker Beechcraft Notes Co), Nonqualified Stock Option Agreement (Hawker Beechcraft Notes Co)
