Vesting and Exercisability of Option. The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.
Vesting and Exercisability of Option. Unless otherwise provided in this Agreement or the Plan, the Option shall entitle the Grantee to purchase, in whole at any time or in part from time to time, thirty-three and one-third percent (33-1/3%) of the total number of Shares covered by the Option after the expiration of one (1) year from the Grant Date, an additional thirty-three and one-third percent (33-1/3%) of the total number of Shares covered by the Option after the second anniversary of the Grant Date, and the remainder of the number of Shares subject to the Option after the third anniversary of the Grant Date, and each such right of purchase shall be cumulative and shall continue, unless sooner exercised as herein provided, during the remaining period of the Exercise Term. Any fractional number of Shares resulting from the application of the percentages set forth in this Section 4 shall be rounded to the next higher whole number of Shares.
Vesting and Exercisability of Option. 5.1 Unless otherwise provided in this Agreement or the Plan, the Option shall entitle the Optionee, in whole at any time or in part from time to time, to exercise the Option for shares of Stock to the extent the Option has become "vested."
5.2 The Option shall "vest" and become exercisable as to 10,000 of the Option Shares on each of February 28, 1999, February 28, 2000 and February 28, 2001 if, but only if, Optionee is employed with the Company on each applicable vesting date.
5.3 In addition, to the extent the Option shall not have previously "vested" and become exercisable pursuant to Sections 5.2 or 7.3, all of the Option Shares which have not previously "vested" pursuant to such provisions, shall become "vested" and exercisable immediately prior to the time at which a "Change of Control Transaction" occurs if, but only if, the Optionee is employed with the Company immediately prior to the occurrence of such Change of Control Transaction. A "Change of Control Transaction" means any one or more of the following events: (A) an event or series of events after the date of this Agreement as a result of which any "person" or "group" (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) who did not own at least 500,000 shares of the Company's Series B Common Stock on September 1, 1997 becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of more than 50% of the aggregate voting power of all of the capital stock of the Company normally entitled to vote in the election of directors or (B) a sale, transfer, conveyance or other disposition, directly or indirectly, in any single transaction or series of related transactions, no matter how accomplished, which results in more than 50%, in value, of (1) the capital stock (or other equity interest in) or operating assets of Telemundo Network, Inc., a wholly-owned subsidiary of the Company or (2) the aggregate capital stock (or other equity interest in) or operating assets of all of the Company's subsidiaries (other than Telemundo Network, Inc.), which currently comprise the Company's owned and operated station group (including any special purpose license subsidiaries), being owned (which term shall include "beneficial ownership" within the meaning of Rule 13d-3 under the Exchange Act), directly or indirectly, by any "person" or "group" (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) who did not own at least 500,000 shares o...
Vesting and Exercisability of Option. Subject to Sections 6 and 7 hereof, provided that the Grantee continues to serve as an employee of the Company or any of its Subsidiaries, the Option shall vest and become exercisable on the third anniversary of the Grant Date.
Vesting and Exercisability of Option. The Option shall become vested and exercisable in accordance with the following vesting schedule if the Grantee is employed by, or providing service to, the Employer (as defined in the Plan) on the applicable vesting date: Twenty five percent (25%) upon the closing of the sale of shares of the Company’s common stock to the public in a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended (an “IPO”), with the balance vesting in twelve equal quarterly installments thereafter. The vesting and exercisability of the Option is cumulative, but shall not exceed 100% of the Shares subject to the Option. If the foregoing schedule would produce fractional Shares, the number of Shares for which the Option becomes vested and exercisable shall be rounded down to the nearest whole Share.
Vesting and Exercisability of Option. The Option shall become vested and exercisable on the following dates, if the Grantee is employed by, or providing service to, the Employer (as defined in the Plan) on the applicable vesting date (each, a “Vesting Date”): Twenty five percent (25%) on with the balance vesting in twelve equal quarterly installments thereafter, so that each option is 100% vested on the fourth anniversary of the Date of Grant. The vesting and exercisability of the Option is cumulative, but shall not exceed 100% of the Shares subject to the Option. If the foregoing schedule would produce fractional Shares, the number of Shares for which the Option becomes vested and exercisable shall be rounded down to the nearest whole Share.
Vesting and Exercisability of Option. The Option may be exercised and Shares may be purchased by the Participant as the result of such exercise only during the term or terms set forth on Exhibit A attached hereto; provided, however, that in no event shall the total number of Shares purchased hereunder pursuant to the exercise of the Option exceed the number set forth on Exhibit A attached hereto, as the same may be adjusted in accordance with the Plan.
Vesting and Exercisability of Option. The Option shall vest and become exercisable on the terms and conditions hereinafter set forth:
(a) The Option shall vest and become exercisable (on a cumulative basis) in such installments (after giving effect to any adjustment pursuant to the Plan) and on such vesting dates, as set forth in Section 5 of the Option Award, provided that the Optionee remains a member of the Board of Directors of the Company as of each such applicable vesting date as indicated in Section 5 of the Option Award.
(b) In addition, the Option shall vest and become exercisable to the extent and as provided in Sections 6, 7 and 8 hereof and as expressly provided by the terms of any Individual Agreement (as defined in the Plan) between the Optionee and the Company or one of its Subsidiaries or Affiliates. The Committee may decide, in its absolute discretion, to accelerate the vesting of all or some lesser portion of any unvested Options at any time, at the date specified by the Committee.
(c) The Option may be exercised pursuant to the provisions of this Section 3 and Sections 6, 7 and 8 hereof, by delivery of an Exercise Notice and payment to the Company as provided in Sections 10 and 15 hereof.
Vesting and Exercisability of Option. The Option shall become vested and exercisable on the following dates, if the Grantee is employed by, or providing service to, the Employer (as defined in the Plan) on the applicable vesting date (each, a “Vesting Date”): The vesting and exercisability of the Option is cumulative, but shall not exceed 100% of the Shares subject to the Option. If the foregoing schedule would produce fractional Shares, the number of Shares for which the Option becomes vested and exercisable shall be rounded down to the nearest whole Share.
Vesting and Exercisability of Option. Subject to the provisions of this Agreement and the Plan, the Option shall vest and become exercisable as to 5% of the Investor Interests subject to the Option on each of the first 20 quarterly anniversaries of January 1, 2013, such that 100% of the Investor Interests subject to the Option shall be vested on the fifth anniversary of January 1, 2013. The portion of the Option which has become vested and exercisable as described in this Section 4 is hereinafter referred to as the “Vested Portion.”
