Exercise Period Vesting. Unless expired as provided in Section 3 of this Agreement, this Option may be exercised from time to time after the Date of Grant set forth above (the "DATE OF GRANT") to the extent the Option has vested in accordance with the vesting schedule set forth below. The Shares issued upon exercise of the Option will be subject to the restrictions on transfer set forth in Section 11 below. Provided Participant continues to provide Continuous Service to the Company or any Affiliate, the Option will become vested as follows: PERCENTAGE OF VESTING DATE VESTED SHARES ------------ ------------- % % %
Exercise Period Vesting. 4.1. 1 111,111 Series C Warrants to purchase up to 1,111,111 Warrant Shares (50% of Series C Warrants) shall vest on March 1, 2023 (the “Second Vesting Date”) and be exercisable as of the Second Vesting Date and for three (3) years thereafter, subject to Section 4.3 below.
4.2. 1 111,111 Series C Warrants to purchase up to 1,111,111 Warrant Shares (50% of Series C Warrants) shall vest on September 1, 2023 (the “Third Vesting Date”) and be exercisable as of the Third Vesting Date and for three (3) years thereafter, subject to Section 4.3 below; provided, however, that the Warrants under this Section 4.2 shall expire on the Third Vesting Date pro rata to the amounts of Tranches 3-8 which shall have not been actually withdrawn by the Company. By way of illustration only, (a) if the Company, at its sole discretion, withdraws US$0.5 million out of US$2 million of Tranches 3-8 available under the Agreement, than 833,333 Series C Warrants to purchase up to 833,333 Warrant Shares [75% of Series C Warrants under this Section 4.2] shall expire on the Third Vesting Date; and (b) if the Company, at its sole discretion, withdraws US$2 million out of US$2 million of Tranches 3-8 available under the Agreement, than none of Series C Warrants under this Section 4.2 shall expire on the Third Vesting Date;
Exercise Period Vesting. 4.1. 172,414 Series B Warrants to purchase up to 172,414 Warrant Shares (50% of Series B Warrants) shall be fully vested and immediately exercisable as of the Warrant Issue Date and prior to the expiration of three (3) years following the Date of Issuance, subject to Section 4.3 below;
4.2. 172,414 Series B Warrants to purchase up to 172,414 Warrant Shares (50% of Series B Warrants) shall vest on December 1, 2022 (the “First Vesting Date”) and be exercisable as of the First Vesting Date and prior to the expiration of three (3) years following the Warrant Issue Dae, subject to Section 4.3 below; provided, however, that the Warrants under this Section 4.2 shall expire on the First Vesting Date in the event the Partner fails to provide the second Tranche in the amount and prior to or upon the date set forth in Schedule 1.2 to the Agreement;
4.3. Notwithstanding the above, if at any time from and after the date of issuance of the Warrants hereof, the closing price of the Company’s Ordinary Shares on the TASE (or other stock exchange or market on which the Ordinary Shares are then listed or quoted, including by means of ADSs, as defined below) equals or exceeds US$2.175 [1.5 (one point five) of Series B Exercise Price per share], adjusted, if applicable, for the Company’s capital events, such as stock splits, etc., for three (3) consecutive trading days (the “Mandatory Exercise Measuring Period”), then the Company shall have the right to require the Holder and/or any of his Transferees, to exercise all or any portion of Series B Warrants, still unexercised (and in such event vesting of any such unexercised Series B Warrants required to be exercised shall be accelerated and all of them shall vest immediately), for a cash exercise, as designated in the Mandatory Exercise Notice on the Mandatory Exercise Date (each as defined below) into fully paid, validly issued and nonassessable Ordinary Shares, at the Series B Exercise Price (the “Mandatory Exercise”). The Company may exercise its right to require exercise under this Section 4.3 by delivering within not more than five (5) trading days following the end of such Mandatory Exercise Measuring Period a written notice thereof to the Holder (which notice for the purposes hereof shall also be deemed a notice to his Transferees (the “Mandatory Exercise Notice” and the date that Holder received such notice is referred to as the “Mandatory Exercise Notice Date”). The Mandatory Exercise Notice shall be irrevocable. Th...
Exercise Period Vesting. This Warrant, to the extent vested, shall be exercisable, in whole or in part, at the election of the Holder from time to time after the date of issuance until its expiration, as described in Section 8. The Warrant shall become vested and exercisable as follows: one-twelfth (l/12th) of the total number of Shares subject to this Warrant shall vest and become exercisable on each of the monthly anniversaries from January 15, 2016, in each case, so long as Holder continues to be a service provider of the Company in accordance with the terms and conditions of that certain Consulting Agreement dated as of January 15, 2016 by and between Holder and the Company.
Exercise Period Vesting. Unless expired as provided in Section 3 of this Agreement, this Option may be exercised from time to time after the Date of Grant set forth above (the “Date of Grant”) to the extent the Option has vested in accordance with the vesting schedule set forth below. The Shares issued upon exercise of the Option will be subject to the restrictions on transfer set forth in Sections 8 and 9 below. Provided Participant continues to provide Continuous Service to the Company or any Affiliate, the Option will become vested and exercisable with respect to twenty percent (20%) of the Shares on the first anniversary of the Date of Grant set forth above and thereafter at the end of each full succeeding year from the Date of Grant the Option will become vested and exercisable as to twenty percent (20%) of the Shares until the Option is vested and exercisable with respect to one hundred percent (100%) of the Shares. If application of the vesting percentage causes a fractional share, such share shall be rounded down to the nearest whole share for each vesting period except for the last period in such vesting period, at the end of which last period this Option shall become exercisable for the full remainder of the Shares. Any unvested Option shall become vested and exercisable if, during the term of Participant’s employment by the Company, a Change in Control occurs.
Exercise Period Vesting. Unless expired as provided in Section 3 of this Agreement, this Option may be exercised from time to time after the Date of Grant set forth above to the extent the Option has vested in accordance with the vesting schedule set forth herein. The Shares issued upon exercise of the Option will be subject to the restrictions on transfer set forth in Section 10 below. Provided Participant continues to provide Continuous Service to the Company or any Affiliate, the Option will become vested and exercisable with respect to 33 1/3% of the Shares subject thereto on each of the first three anniversaries of the Date of Grant until the Option is 100% vested. A vested Option may not be exercised for less than a full share. If application of the vesting percentage causes a fractional Share to otherwise become exercisable, such Share shall be rounded down to the nearest whole Share for each year except for the last year in such vesting period, at the end of which vesting period this Option shall become exercisable for the full remainder of the unexercised Shares subject to the Option. Except as provided in the Plan, upon the occurrence of a Change in Control, the Option shall become 100% vested and exercisable.
Exercise Period Vesting. 4.1. 1 034,483 Series A Warrants to purchase up to 1,034,483 Warrant Shares (50% of Series A Warrants) shall be fully vested and immediately exercisable as of the Warrant Issue Date and prior to the expiration of three (3) years following the Date of Issuance, subject to Section 4.3 below;
4.2. 1 034,483 Series A Warrants to purchase up to 1,034,483 Warrant Shares (50% of Series A Warrants) shall vest on December 1, 2022 (the “First Vesting Date”) and be exercisable as of the First Vesting Date and prior to the expiration of three (3) years following the Warrant Issue Date, subject to Section 4.3 below; provided, however, that the Warrants under this Section 4.2 shall expire on the First Vesting Date in the event the Partner fails to provide the second Tranche in the amount and prior to or upon the date set forth in Schedule 1.2 to the Agreement;
Exercise Period Vesting. Except as otherwise provided in this Agreement, provided that the Participant has not incurred a Termination of Service, the Options will vest and become exercisable upon the later of the date on which the time-vesting conditions set forth in Section 2.1 (the “Time-Vesting Conditions”) are satisfied, and the date on which the performance-vesting condition set forth in Section 2.2 (the “Performance-Vesting Condition”) is satisfied.
Exercise Period Vesting. Subject to Section 3.3, the Option shall be 100% vested upon the Date of Grant. The Option shall be exercisable only to the extent that during the Exercise Period the Holder delivers to the Issuer written notice of the Holder’s election to exercise all of the Option, with the date of delivery to the Issuer of such written notice date being the “Exercise Date.” The term “Exercise Period” means the period from August 30, 2019 through and including the Expiration Date as determined pursuant to Section 1.3. Upon the conclusion of the Exercise Period the option to purchase all unexercised Options Shares shall be canceled.
Exercise Period Vesting. The Right may be exercised for whole shares of Common Stock during the period commencing on the Date of Grant and terminating on the Date of Expiration, as follows:
