Duration and Exercisability. (a) Subject to the terms and conditions set forth herein, this Option shall become exercisable by the Optionee for the following installments of shares of Common Stock in accordance with the following schedule. The Optionee must be employed by the Company on the relevant anniversary date set forth below in order for the corresponding installment to become exercisable. As the Option becomes exercisable for such installment, those installments shall accumulate and the Option shall remain exercisable for the accumulated installments until the Option expires pursuant to Section 1 or terminates pursuant to Section 3 or Section 4. Shares for Which Option is Exercisable Date Percentage Number [1st anniversary of grant date] 25% [____] [2nd anniversary of grant date] 25% [____] [3rd anniversary of grant date] 25% [____] [4th anniversary of grant date] 25% [____]
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Samples: Nontransferable Non Incentive Stock Option Agreement this Agreement (Osteotech Inc), Nontransferable Non Incentive Stock Option Agreement (Osteotech Inc), Nontransferable Incentive Stock Option Agreement (Osteotech Inc)
Duration and Exercisability. (a) Subject to the terms and conditions set forth herein, this Option shall become exercisable by the Optionee for the following installments of shares of Common Stock in accordance with the following schedule. The Optionee must be employed by the Company on the relevant anniversary date set forth below in order for the corresponding installment to become exercisable. As the Option becomes exercisable for such installment, those installments shall accumulate and the Option shall remain exercisable for the accumulated installments until the Option expires pursuant to Section 1 or terminates pursuant to Section 3 or Section 4. Shares for Which Option is Exercisable Date Percentage Number [1st anniversary of grant date] 25% [____[ ] [2nd anniversary of grant date] 25% [____[ ] [3rd anniversary of grant date] 25% [____[ ] [4th anniversary of grant date] 25% [____[ ]
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Samples: Nontransferable Incentive Stock Option Agreement this Agreement (Osteotech Inc)
Duration and Exercisability. (a) Subject to the terms and conditions set forth herein, this Option shall become exercisable by the Optionee for the following installments of shares of Common Stock in accordance with the following schedule. The Optionee must be employed by the Company on the relevant anniversary date set forth below in order for the corresponding installment to become exercisable. As the Option becomes exercisable for such installment, those installments shall accumulate and the Option shall remain exercisable for the accumulated installments until the Option expires pursuant to Section 1 or terminates pursuant to Section 3 or Section 4. Shares for Which Option is Exercisable Date Percentage Number [1st anniversary of grant date] 25% [____] [2nd anniversary of grant date] 25% [____] [3rd anniversary of grant date] 25% [____] [4th anniversary of grant date] 25% [____]«Vestdate1» «Percent1» «No1» «Vestdate2» «Percent2» «No2» «Vestdate3» «Percent3» «No3» «Vestdate4» «Percent4» «No4»
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