When Option May Be Exercised. The option granted you hereunder shall be exercisable in full from and after November 12, 2002. This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.
When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows:
(i) At the end of one year from the date of grant up to 17,550 shares shall become exercisable (ii) At the end of the second year from the date of grant, up to 5,850 shares shall become exercisable (iii) At the end of third year from the date of grant, up to 5,850 shares shall become exercisable This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.
When Option May Be Exercised. (a) Except as otherwise provided in this section, the vested portion of this Option shall be exercised, if at all, by the Optionee at any time before the Expiration Date.
(b) If the Optionee ceases to be an Employee because of death, the Optionee's vested Options shall be exercised, if at all, by the person or entity (including the Optionee's estate) that has obtained the Optionee's rights under the Option by will or under the laws of descent and distribution, at any time before the Expiration Date.
(c) If the Optionee ceases to be an Employee because of Disability, the Optionee's vested Options must be exercised, if at all, not later than twelve months following the date the Optionee ceases to be an Employee.
(d) If the Optionee ceases to be an Employee for any reason other than death or Disability, the Optionee's vested Options must be exercised, if at all, not later than ninety (90) days following the date the Optionee ceases to be an Employee. Any unvested portion of this Option terminates immediately upon the cessation of employment of the Optionee.
(e) The Committee shall have the discretion, exercisable at any time before a sale, merger, consolidation, reorganization, liquidation or change of control of the Company, as defined by the Committee, to provide for the acceleration of vesting and for settlement, including cash payment, of the Option upon or immediately before the effectiveness of such event.
(f) Notwithstanding anything else in this Agreement to the contrary, in no event shall the Optionee exercise this Option until the Company, pursuant to the terms of its restated certificate of incorporation, has authorized for issuance the shares issuable upon exercise of this Option.
When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows:
(i) From and after November 9, 2000, options to purchase 12,500 shares shall become exercisable;
(ii) From and after November 9, 2001, options to purchase 25,000 shares (i.e., an additional 12,500 shares) shall become exercisable;
(iii) From and after November 9, 2002 options to purchase 37,500 shares (i.e., an additional 12,500 shares) shall become exercisable; and
(iv) From and after November 9, 2003, options to purchase all shares subject to this non-incentive stock option agreement shall become exercisable. This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten) and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.
When Option May Be Exercised. If this option has not terminated, lapsed or expired pursuant to Section 6 hereof, this option may be exercised in its entirety prior to its expiration on December 22, 2001, but only upon the occurrence of any of the following:
(a) If the closing sale price of the Company's Common Stock (or the average of the closing bid and asked prices if closing sale prices are not reported) for thirty consecutive Trading Days (as defined below) is equal to or greater than $20.00 per share. The term "Trading Day" shall mean a day on which the principal national securities exchange (or The Nasdaq National Market) on which the Common Stock is listed or admitted to trading is open for the transaction of business;
When Option May Be Exercised. This option may be exercised in cumulative annual installments of ____% of the total number of shares purchasable by you hereunder, the first such installment being exercisable on _____, _______ (or one year from the date of the grant) and subsequent additional installments of ____% of such shares being exercisable on each anniversary of the _______ succeeding years thereafter. This Option expires 10 years from the date of grant whether or not it has been duly exercised, unless sooner terminated as provided in Sections 6, 7, and 8 hereof.
When Option May Be Exercised. The option granted you hereunder may be exercised in whole or in part at any time and from time to time until the close of business on March 7, 2003.
When Option May Be Exercised. The option granted you hereunder may not be exercised for a period of one year from the date of its grant by the Board as set forth above. Thereafter, 50% of the Aggregate Number shall be first exercisable one year from the date of grant and the balance shall be exercisable two years from the date of grant. This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten) and expires at the end of ten years from the date of grant whether or not it has been duly exercised, unless sooner terminated as provided in paragraphs 5, 6 and 7 hereof.
When Option May Be Exercised. This Option shall vest one-tenth (1/10) annually for ten years beginning on the anniversary date of this date of grant and may be exercised to the fullest extent it has vested, or any part thereof, beginning on the date that is 12 months after this date of grant. This Option expires 10 years and 90 days from the date of grant whether or not it has been duly exercised (the "Option Period"), unless sooner terminated as provided in Sections 6, 7 and 8 hereof.
When Option May Be Exercised. The option granted you hereunder shall be exercisable as follows:
(i) At the end of one year from the date of grant up to 5,500 shares shall become exercisable (ii) At the end of the second year from the date of grant, up to 5,500 shares shall become exercisable (iii) At the end of third year from the date of grant, up to 5,500 shares shall become exercisable Exhibit 10.77
(iv) At the end of the fourth year from the date of grant, up to 5,500 shares shall become exercisable This option may not be exercised for less than ten shares at any one time (or the remaining shares then purchasable if less than ten and expires at the end of ten years from the date of grant whether or not it has been duly exercised (hereinafter, the "Option Expiration Date"), unless sooner terminated as provided in paragraphs 5, 6 or 7 hereof.
