When Exercisable. 3.1 The aggregate number of shares of Common Stock of the Company optioned by this Agreement (the "Optioned Shares") shall vest in the Grantee as follows:
When Exercisable. The Options are fully vested and exercisable through January 31, 2011.
When Exercisable. (a) At any time prior to the expiration of the five year period commencing upon the date of this warrant (the "Expiration Date"), Holder shall have the right to exercise this warrant to purchase in whole or in part the shares of Common Stock which at the time of exercise are Vested Shares (as defined below).
When Exercisable. This SAR becomes exercisable at the rate of one-third of the total shares on each of February 15, 2015, 2016 and 2017. This SAR remains exercisable through February 14, 2022, unless SAR Holder is no longer employed by the Company, or such other event as specified in paragraph 3 occurs, in which case the SARs are exercisable only if permitted by, and in accordance with, the provisions of paragraph 3 below.
When Exercisable. Your rights to purchase shares covered by this option shall vest and be exercisable as set forth below and shall remain fully exercisable by you (or by an authorized representative in the event of your death or disability) throughout the term of this option, as described in Section 4, below, except as otherwise provided in Section 4:
When Exercisable. (a) Rate of Exercise for 5-Year Options. Optionee's right to exercise this Option as to 200,000 of the Shares (100,000 Class A Shares and 100,000 Class B Shares) subject thereto (the "5 Year Options") shall vest ratably over the five (5) year period commencing on the Grant Date in accordance with the following schedule if (but only if) Optionee is employed by the Company or any of its Subsidiaries as of each such date: Cumulative Shares of Date 5 Year Option Vested ---- -------------------- 1st Anniversary of Grant Date 40,000 2nd Anniversary of Grant Date 80,000 3rd Anniversary of Grant Date 120,000 4th Anniversary of Grant Date 160,000 5th Anniversary of Grant Date 200,000; provided that if Optionee's employment by the Company terminates by virtue of the expiration of the "Term" (as defined in the Management Agreement) (i.e., Optionee's employment terminates due to the passage of the date referenced in Section 2(a)(i) thereof (as extended pursuant to the provision in such Section 2(a)) as opposed to any termination by the Company or Optionee or by virtue of Optionee's death or disability), then Optionee shall be credited with an additional 21 days of vesting (for example, if Optionee's employment with the Company terminates as described above on December 31, 2001, the 5 Year Options will vest through January 20, 2002). Notwithstanding any provision to the contrary in this Section 4.1(a), but subject to the other restrictions in the Plan and this Agreement, in the event of a Sale (as defined below) prior to December 31, 2003, the 5 Year Options shall become vested and immediately exercisable.
When Exercisable. 3.1 This Option shall vest in the Grantee, and become exercisable, as to twenty-five percent (25%) of the shares on the first anniversary of the date of the grant, and an additional twenty-five percent (25%) of the shares with respect to which the Option has been granted on and after each of the three (3) succeeding anniversaries of said date. Installments or portions vested and not exercised in earlier periods shall be accumulated and be available for exercise in later periods at the then applicable Exercise Price as follows:
When Exercisable. (a) RATE OF EXERCISE FOR 5-YEAR OPTIONS. Optionee's right to exercise this Option as to 100,000 of the Shares (50,000 Class A Shares and 50,000 Class B Shares) subject thereto (the "5 YEAR OPTIONS") shall vest ratably over the five (5) year period commencing on the Vesting Date in accordance with the following schedule if (but only if) Optionee is a director or employee of the Company or any of its Subsidiaries as of each such date: Cumulative Shares of Date 5 Year Option Vested ---- -------------------- 1st Anniversary of Vesting Date 20,000 2nd Anniversary of Vesting Date 40,000 3rd Anniversary of Vesting Date 60,000 4th Anniversary of Vesting Date 80,000 5th Anniversary of Vesting Date 100,000 Notwithstanding any provision to the contrary in this SECTION 4.1(a), but subject to the other restrictions in the Plan and this Agreement, in the event of a Sale (as defined below) prior to December 31, 2003, the 5 Year Options shall become vested and immediately exercisable.
When Exercisable. (a) The Options shall vest and become exercisable as follows: _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________.
When Exercisable. (A) The stock options granted may be exercised only as follows:
