Duration and Exercisability. (a) Except as provided in paragraph 3(b) or 4(b) below, this Option may not be exercised by Employee until the expiration of one (1) year from the date hereof and shall become exercisable on the first anniversary of the date hereof with respect to 25% of the shares subject hereto and with respect to an additional cumulative 25% of the shares subject to this Option on the anniversary of the date hereof in each year thereafter until the fourth anniversary of the date hereof when this Option shall be exercisable in full. This Option shall terminate in all events five (5) years after the date of grant.
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Samples: Nonqualified Stock Option Agreement (Cyberoptics Corp), Nonqualified Stock Option Agreement (Cyberoptics Corp), Nonqualified Stock Option Agreement (Cyberoptics Corp)
Duration and Exercisability. (a) Except as provided in paragraph 3(b) or 4(b) below, this Option may not be exercised by Employee until the expiration of one (1) year from the date hereof and shall become exercisable on the first anniversary of the date hereof with respect to 25% of the shares subject hereto and with respect to an additional cumulative 25% of the shares subject to this Option on the anniversary of the date hereof in each year thereafter until the fourth anniversary of the date hereof when this Option shall be exercisable in full. This Option shall terminate in all events five seven (57) years after the date of grant.
Appears in 2 contracts
Samples: Nonqualified Stock Option Agreement (Cyberoptics Corp), Employment Agreement (Cyberoptics Corp)
Duration and Exercisability. (a) Except as provided in paragraph 3(b) or 4(b) below, this Option may not be exercised by Employee until the expiration of one (1) year from the date hereof and shall become exercisable on the first anniversary of the date hereof with respect to 25% of the shares subject hereto and with respect to an additional cumulative 25% of the shares subject to this Option on the anniversary of the date hereof in each year thereafter until the fourth anniversary of the date hereof when this Option shall be exercisable in full. This Option shall terminate in all events five ten (510) years after the date of grant.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (Cyberoptics Corp)
Duration and Exercisability. (a) Except as provided in paragraph 3(b) or 4(b) below, this Option may not be exercised by Employee until the expiration of one (1) year from the date hereof that Employee commences full-time employment with the Company (the "Commencement Date") and shall become exercisable on the first anniversary of the date hereof Commencement Date with respect to 25% of the shares subject hereto and with respect to an additional cumulative 25% of the shares subject to this Option on the anniversary of the date hereof Commencement Date in each year thereafter until the fourth anniversary of the date hereof Commencement Date when this Option shall be exercisable in full. This Option shall terminate in all events five (5) years after the date of grant.
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Samples: Cyberoptics Corporation Stock Option Agreement (Cyberoptics Corp)
Duration and Exercisability. (a) Except as provided in paragraph 3(b) or 4(b) below, this Option may not be exercised by Employee until the expiration of one (1) year from the date hereof and shall become exercisable on the first anniversary of the date hereof with respect to 25% of the shares subject hereto and with respect to an additional cumulative 25% of the shares subject to this Option on the anniversary of the date hereof in each year thereafter until the fourth anniversary of the date hereof when this Option shall be exercisable in full. This Option shall terminate in all events five seven (57) years after the date Date of grantGrant.
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