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Common use of Vesting; Time of Exercise Clause in Contracts

Vesting; Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. of the total Optioned Shares shall vest and that portion of the Stock Option shall be exercisable on the Date of Grant. b. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on , provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on , provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. d. In the event that (i) a Change in Control occurs, (ii) this Option Agreement is not assumed by the surviving corporation or its parent, and (iii) the surviving corporation or its parent does not substitute its own option for this Stock Option, then upon the effective date of such Change in Control the total Optioned Shares not previously vested shall thereupon immediately become fully vested and this Stock Option shall become fully exercisable, if not previously so exercisable.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Plainscapital Corp)

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Vesting; Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. of the total Optioned Shares shall vest and that portion of the Stock Option shall be exercisable on the first anniversary of the Date of Grant, provided the Participant is employed by the Company or a Subsidiary on that date. b. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on third anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. d. . In the event that (i) a Change in Control occurs, (ii) this Option Agreement is not assumed by the surviving corporation or its parent, and (iii) the surviving corporation or its parent does not substitute its own option for this Stock Option, then upon immediately prior to the effective date of such Change in Control Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and this Stock Option shall become fully exercisable. In the event of the Participant’s death, if then immediately upon his or her death, the total Optioned Shares not previously so vested shall thereupon immediately become vested and this Stock Option shall become fully exercisable.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Red Mountain Resources, Inc.)

Vesting; Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. of the total Optioned Shares shall vest and that portion of the Stock Option shall be exercisable on the Date of Grant. b. of the total Optioned Shares shall vest and that portion of the Stock Option shall become be exercisable on the first anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. d. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by the Company or a Subsidiary on that date. In the event that (i) a Change in Control occurs, and (ii) this Option Agreement is not assumed by the surviving corporation or its parent, and (iii) or the surviving corporation or its parent does not substitute its own option for this Stock Option, then upon immediately prior to the effective date of such Change in Control Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and this Stock Option shall become fully exercisable, if not previously so exercisable.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Blue Calypso, Inc.)

Vesting; Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. of the total Optioned Shares shall vest and that portion of the Stock Option shall be exercisable on the Date of Grant. b. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on _________________, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on _________________, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. d. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on _________________, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. In the event that (i) a Change in Control occurs, (ii) this Option Agreement is not assumed by the surviving corporation or its parent, and (iii) the surviving corporation or its parent does not substitute its own option for this Stock Option, then upon immediately prior to the effective date of such Change in Control Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and this Stock Option shall become fully exercisable, if not previously so exercisable.

Appears in 1 contract

Samples: Stock Option Agreement (Oramed Pharmaceuticals Inc.)

Vesting; Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. of the total Optioned Shares shall vest and that portion of the Stock Option shall be exercisable on the Date of Grant. b. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on ____________________________, provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on __________________________, provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. d. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on __________________________, provided the Participant is employed by the Company or a Subsidiary on that date. In the event that (i) a Change in Control occurs, (ii) this Option Agreement is not assumed by the surviving corporation or its parent, and (iii) the surviving corporation or its parent does not substitute its own option for this Stock Option, then upon immediately prior to the effective date of such Change in Control Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and this Stock Option shall become fully exercisable, if not previously so exercisable.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (China Clean Energy Inc)

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Vesting; Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. of the total Optioned Shares shall vest and that portion of the Stock Option shall be become exercisable on the Date of Grant. b. of the total Optioned Shares shall vest and that portion of the Stock Option shall become be exercisable on ___________________, provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on ___________________, provided the Participant is employed by (or, if the Participant is an Outside Director, is providing services to) the Company or a Subsidiary on that date. d. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on ___________________, provided the Participant is employed by the Company or a Subsidiary on that date. [In the event that (i) a Change in Control occurs, (ii) this Option Agreement is not assumed by the surviving corporation or its parent, and (iii) the surviving corporation or its parent does not substitute its own option for this Stock Option, then upon immediately prior to the effective date of such Change in Control Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and this Stock Option shall become fully exercisable, if not previously so exercisable.]

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Alliqua, Inc.)

Vesting; Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One forty-eighth (1/48) of the total Optioned Shares shall vest and that portion on the one-month anniversary of the Stock Option shall be exercisable on the Date of Grant. b. of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on , provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. b. An additional one forty-eighth (1/48) of the total Optioned Shares shall vest and that portion on each monthly anniversary of the Stock Option shall become exercisable on Date of Grant thereafter, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. d. . In the event that (i) a Change in Control occurs, and (ii) this Option Agreement is not assumed by the surviving corporation or its parent, and (iii) or the surviving corporation or its parent does not substitute its own option for this Stock Option, then upon immediately prior to the effective date of such Change in Control Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and this Stock Option shall become fully exercisable, if not previously so exercisable.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Phaserx, Inc.)

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