Vesting and Exercisability definition

Vesting and Exercisability. The Option will vest and become exercisable according to the following schedule: Date On and After Which Option is Portion of Total Option Which Is Vested and Exercisable Vested and Exercisable May 31, 2001 25% Each one-month period completed An additional 1/48 thereafter May 31, 2004 100% Method of Exercise: You may exercise the Option by giving written notice to the Company, in form and substance satisfactory to the Company, which will state the election to exercise the Option and the number of shares of Common Stock for which you are exercising the Option. The written notice must be accompanied by full payment of the exercise price for the number of shares of Common Stock you are purchasing. Form of Payment: You may pay the Option exercise price, in whole or in part, in cash, by check or, unless the Board determines otherwise, by (a) tendering (either actually or by attestation) shares of Common Stock held by you for a period of at least six months having a fair market value on the day prior to the date of exercise equal to the exercise price (you should consult your tax advisor before exercising the Option with stock you received upon the exercise of an ISO); (b) if and so long as the Common Stock is registered under the Securities Exchange Act of 1934, as amended, delivery of a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company the amount of sale or loan proceeds necessary to pay the exercise price; or (c) such other consideration as the Board may permit.
Sample 1

Examples of Vesting and Exercisability in a sentence

  • Provided however, that the rules under "Vesting and Exercisability" at the end of this Appendix shall apply to Options granted before the Plan is an "approved" plan.

  • Vesting and Exercisability You cannot exercise the Options until they have vested.

  • Vesting and Exercisability The Options will vest in accordance with the schedule above; however, you cannot exercise the Options that have vested until after the end of the Performance Period, except as provided below.

  • Notwithstanding the foregoing, an Option (whether an Incentive Stock Option or a Nonstatutory Stock Option) may be granted with an exercise price lower than the minimum exercise price set forth above if such Option is granted pursuant to an assumption or substitution for another option in a manner qualifying under the provisions of Section 424(a) of the Code.6.2 Exercisability and Term of Options .(c) Option Vesting and Exercisability.

  • The Exercise Price shall be payable in a form described in Section 7.(d) Vesting and Exercisability.

  • Participant: <<Name>> <<SSN>> Grant Date: <<Grant Date>> Number of Shares Subject to Option: <<Option Granted>> Grant Price (per Share): <<Grant Price>> Option Expiration Date: <<Expiration Date>> Type of Option: <<Incentive Stock Option>> <<Nonqualified Stock Option>> Vesting and Exercisability Schedule: 33 1/3% of the Option will vest and become exercisable on the one-year anniversary of the Grant Date.

  • The following provisions apply if you are a citizen of the People’s Republic of China (“China”) and reside in mainland China, as determined by the Company in its sole discretion: Vesting and Exercisability.

  • The Board of Directors shall determine the Vesting and Exercisability provisions of the Stock Option Agreement in its sole discretion; provided however that it is anticipated that Options shall not first become Exercisable as to Vested Shares until on or after the fourth anniversary of the grant date of the Option.

  • Death or Disability - and the provisions of Section 2(b) of the ESO Agreement – Vesting and Exercisability; Termination without Cause; Death or Disability – shall apply.

  • However, the New Options will be entirely unvested as of the New Option Grant Date and will be subject to a new vesting schedule based on the remaining vesting period of each of your Exchanged Options, regardless of whether your Exchanged Options were wholly or partially vested, as described below under "Vesting and Exercisability." The New Options will generally be of the same type (for U.S. tax purposes) as the Eligible Options you tender for exchange.

Related to Vesting and Exercisability

  • Vesting mean that the Units have become non-forfeitable. If Employee has a Termination of Employment prior to the Stated Vesting Date and the Units are not otherwise deemed vested by that date, the Units will be immediately forfeited except as otherwise provided in Section 4 of the Terms and Conditions.

  • Vesting Agreement means each or any, as the context implies, agreement or instrument entered into by a holder of LTIP Units upon acceptance of an award of LTIP Units under an Equity Incentive Plan.

  • Vesting Schedule means the vesting schedule specified in the Grant Notice pursuant to which the Optionee is to vest in the Option Shares in a series of installments over his or her period of Service.

  • Phantom Stock Award Agreement means a written agreement between the Company and a Holder with respect to a Phantom Stock Award.

  • RSUs means restricted stock units.

  • Non-Tandem Stock Appreciation Right means the right to receive an amount in cash and/or stock equal to the difference between (x) the Fair Market Value of a share of Common Stock on the date such right is exercised, and (y) the aggregate exercise price of such right, otherwise than on surrender of a Stock Option.

  • Vesting Dates means, as determined by the Board or by the Committee, the date as of which the Optionee shall be entitled to exercise the Options or part of the Options, as set forth in section 11 of the ISOP.

  • Tandem Stock Appreciation Right means the right to surrender to the Company all (or a portion) of a Stock Option in exchange for an amount in cash and/or stock equal to the difference between (i) the Fair Market Value on the date such Stock Option (or such portion thereof) is surrendered, of the Common Stock covered by such Stock Option (or such portion thereof), and (ii) the aggregate exercise price of such Stock Option (or such portion thereof).

  • Restricted Stock Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award grant. Each Restricted Stock Award Agreement will be subject to the terms and conditions of the Plan.

  • Vesting Period means the period of time specified by the Committee during which vesting restrictions for an Award are applicable.

  • Deferred Stock Award means Awards granted pursuant to Section 8.

  • SARS means the South African Revenue Service.

  • CONCURRENT STOCK APPRECIATION RIGHT or "CONCURRENT RIGHT" means a right granted pursuant to subsection 8(b)(2) of the Plan.

  • RSU means a contractual right granted pursuant to Section 9 that is denominated in Shares. Each RSU represents a right to receive the value of one Share (or a percentage of such value) in cash, Shares or a combination thereof. Awards of RSUs may include the right to receive dividend equivalents.

  • Stock Award Agreement means a written agreement between the Company and a holder of a Stock Award evidencing the terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the Plan.

  • Stock Grant Agreement means the agreement between the Company and a Grantee who is awarded Shares under the Plan that contains the terms, conditions and restrictions pertaining to the award of such Shares.

  • Other Stock Award Agreement means a written agreement between the Company and a holder of an Other Stock Award evidencing the terms and conditions of an Other Stock Award grant. Each Other Stock Award Agreement will be subject to the terms and conditions of the Plan.

  • Restricted Stock Unit Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Unit Award evidencing the terms and conditions of a Restricted Stock Unit Award grant. Each Restricted Stock Unit Award Agreement will be subject to the terms and conditions of the Plan.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Phantom Stock Award means an Award granted under Paragraph X of the Plan.

  • Limited Stock Appreciation Right means an Award of a limited Tandem Stock Appreciation Right or a Non-Tandem Stock Appreciation Right made pursuant to Section 7.5 of this Plan.

  • Share Appreciation Right means the right pursuant to an Award granted under Section 8 below to receive an amount equal to the excess, if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by such Award or such portion thereof, over (ii) the aggregate Exercise Price of such Award or such portion thereof.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • RSU Award Agreement means a written agreement between the Company and a holder of a RSU Award evidencing the terms and conditions of a RSU Award grant. The RSU Award Agreement includes the Grant Notice for the RSU Award and the agreement containing the written summary of the general terms and conditions applicable to the RSU Award and which is provided to a Participant along with the Grant Notice. Each RSU Award Agreement will be subject to the terms and conditions of the Plan.

  • Vesting Conditions means those conditions established in accordance with Section 8.4 or Section 10.2 of the Plan prior to the satisfaction of which shares subject to a Restricted Stock Award or Restricted Stock Unit Award, respectively, remain subject to forfeiture or a repurchase option in favor of the Company upon the Participant’s termination of Service.

  • Vesting Date has the meaning set forth in Section 3.10(c)(ii).