AND EXERCISABILITY Clause Samples
The "And Exercisability" clause defines the conditions under which a contractual right, such as an option or warrant, can be exercised by the holder. Typically, this clause outlines the specific timeframes, events, or requirements that must be met before the right becomes exercisable, such as the passage of a certain period or the achievement of performance milestones. By clearly specifying when and how rights may be exercised, this clause ensures both parties understand their obligations and prevents disputes over the timing or validity of exercising contractual rights.
AND EXERCISABILITY. (a) This Option is fully exercisable as of the Date of Grant; provided, however, that this Option may not be exercised as to any shares after the expiration of ten (10) years from the Date of Grant.
(b) Except as set forth below and in Section 6, and subject to the determination of the Committee, in its sole discretion to accelerate the vesting schedule hereunder, this Stock Option shall be vested and exercisable with respect to 100% of the Option Shares accordingly: (1)twenty-five percent 25% on __________ and (2)seventy-five percent (75%) at the rate of one thirty-sixth (1/36th) per month over the three (3) years thereafter. Vesting calculations shall be rounded up to the whole share. All unvested shares shall be subject to the Company's Right of Repurchase set forth in Section 9 below. Notwithstanding anything herein to the contrary, but without limitation of Section 6, in the event that this Stock Option is assumed or continued by the Company or its successor entity in the sole discretion of the parties to a Sale Event and thereafter remains in effect following such Sale Event as contemplated by Section 6, then this Stock Option shall be deemed vested and exercisable in full upon the date on which the Optionee's employment with the Company and its subsidiaries or successor entity terminates if (i) such termination occurs within 12 months of such Sale Event and (ii) such termination is by the Company without Cause or by the Optionee for Good Reason.
(c) In the event that the Optionee's Service Relationship with the Company and its Subsidiaries terminates for any reason or under any circumstances, including the Optionee's resignation, retirement or termination by the Company, upon the Optionee's death or disability (as defined in Section 422(c)(6) of the Code, or for any other reason, regardless of the circumstances thereof, this Stock Option may thereafter be exercised, to the extent it was vested on such date of such termination, until the date specified in Section 2(d) below. Any portion of the Stock Option that is not vested on the date of termination of the Service Relationship shall immediately expire and be null and void.
(d) Subject to the provisions of Section 6 below, once any portion of this Stock Option becomes vested, it shall continue to be vested by the Optionee or his or her successors as contemplated herein at any time or times prior to the earliest of (i) the date which is (A) twelve (12) months following the date on which the Optionee'...
AND EXERCISABILITY. The Option vests and becomes fully exercisable immediately upon the satisfaction of any part or all of the Guaranty by the Optionee but only to such extent of the satisfaction of the Guaranty as provided in Section 1 hereof.
AND EXERCISABILITY. This Option shall vest and become exercisable as follows:
AND EXERCISABILITY. (a) No portion of this Stock Option may be exercised until such portion shall have vested.
(b) Except as set forth below and in Section 6, and subject to the determination of the Compensation Committee of the Board of Directors of the Company or the Board of Directors of the Company, as applicable (the "Committee"), in its sole discretion to accelerate the vesting schedule hereunder, this Stock Option shall be vested and exercisable with respect to the following number of Option Shares on the date indicated: Incremental (Aggregate Number) Of Option Shares Exercisable* Vesting Date ---------------------------- ------------
AND EXERCISABILITY. (a) The Stock Option is fully vested and immediately exercisable with respect to all Option Shares, and it shall continue to be exercisable by ▇▇▇▇▇ or his successors as contemplated herein at any time or times prior to the Expiration Date.
(b) In the event that ▇▇▇▇▇' employment with the Company terminates for any reason or under any circumstances, including ▇▇▇▇▇' resignation, retirement or termination by the Company, upon death or disability, or for any other reason, regardless of the circumstances thereof, this Stock Option shall thereafter continue to be fully vested and fully exercisable by ▇▇▇▇▇ or his successors as contemplated herewith at any time or times prior to the Expiration Date.
AND EXERCISABILITY. Subject to the limitations contained herein, the Option will vest and become exercisable as provided in your Grant Notice, provided that vesting will cease upon the termination of your employment or service relationship with the Company or a Related Corporation and the unvested portion of the Option will terminate.
AND EXERCISABILITY. This option shall vest and become exercisable for the Option Shares in one or more installments as specified in the Grant Notice. As the option becomes exercisable for such installments, those installments shall accumulate, and the option shall remain exercisable for the accumulated installments until the Expiration Date or sooner termination of the option term under Paragraph 5 or 6.
AND EXERCISABILITY. This Stock Option shall be fully vested as of the date hereof and may be exercised in whole or in part at any time prior to the Expiration Date, subject to the terms of this Section and Section 6. In the event that the Optionee's Service Relationship (as hereinafter defined) with the Company and its Subsidiaries terminates as a result of the Optionee's resignation, retirement, or termination by the Company, upon the Optionee's death
AND EXERCISABILITY. This Stock Option shall be fully vested as of the date hereof and may be exercised in whole or in part at any time prior to the Expiration Date, subject to the terms of this Section and Section 6. In the event that the Optionee's Service Relationship (as hereinafter defined) with the Company and its Subsidiaries terminates as a result of the Optionee's resignation, retirement, or termination by the Company, upon the Optionee's death or disability, or for any other reason, regardless of the circumstances thereof, this Stock Option may thereafter be exercised by the Optionee until the earlier of (i) twelve months from the effective date of such termination or (ii) the Expiration Date, subject to extension in the discretion of the Committee, whereupon it shall terminate to the extent not exercised. For purposes hereof, a "
AND EXERCISABILITY. This Option shall vest and become exercisable in accordance with the Plan and as follows:
3.1.1 This Option shall vest cumulatively, during Optionee's Continuous Status as an Employee as follows, it being understood that a portion of the Option may be vested as of the date of this Agreement under the following rules: ______________________
3.1.2 In the event Optionee's employment with the Company terminates for any reason, including without limitation termination of employment by Optionee under any circumstances, termination by the Company with or without cause, death, or disability, this Option shall cease vesting and shall be cancelled to the extent of the number of Shares as to which the Option has not vested as of the date of termination.
3.1.3 In the event of a transaction described in Section 9.2 of the Plan (e.g., liquidation of the Company, a reorganization involving a change of control, as defined, etc.), the Plan will terminate and any unvested portion of the Option shall terminate except and to the extent that the Committee determines otherwise as provided in such Section 9.2