Common use of DURATION OF OPTION AND EXERCISABILITY Clause in Contracts

DURATION OF OPTION AND EXERCISABILITY. A. Initial Period of Exercisability. Except as provided in Articles II.B, II.C and III below, the Option shall become exercisable according to the following schedule. Once the Option becomes fully exercisable Participant may continue to exercise this Option under the terms and conditions of this Agreement until the first of the termination of this Option as provided herein or the Expiration Date (as defined below). If Participant does not purchase upon an exercise of this Option the full number of shares which Participant is then entitled to purchase, Participant may purchase upon any subsequent exercise prior to this Option’s termination or Expiration Date such previously unpurchased shares in addition to those Participant is otherwise entitled to purchase. Except as otherwise provided in Articles II.B, II.C and III. below, the term during which this Option may be exercised will continue until 5:00 p.m. (Central time) on [the date that is no more than ten (10) years following the date of grant of this Option OR: for greater than ten percent (10%) holders insert the date that is no more than five (5) years following the date of grant of this Option] (the “Expiration Date”). In no event shall this Option be exercisable after the Expiration Date. Vesting Date Number of Option Shares Available for Exercise

Appears in 1 contract

Samples: Executive Incentive Stock Option Agreement (Broadwind Energy, Inc.)

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DURATION OF OPTION AND EXERCISABILITY. A. Initial Period of Exercisability. Except as provided in Articles II.B, II.C II.B. and III II.C. below, the Option shall become exercisable according to the following schedule. Once the Option becomes fully exercisable Participant may continue to exercise this Option under the terms and conditions of this Agreement until the first of the termination of this Option as provided herein or the Expiration Date (as defined below). If Participant does not purchase upon an exercise of this Option the full number of shares which Participant is then entitled to purchase, Participant may purchase upon any subsequent exercise prior to this Option’s termination or Expiration Date such previously unpurchased shares in addition to those Participant is otherwise entitled to purchase. Except as otherwise provided in Articles II.B, II.C II.B. and III. II.C. below, the term during which this Option may be exercised will continue until 5:00 p.m. (Central time) on [the date that is no more than ten (10) years following the date of grant of this Option OR: for greater than ten percent (10%) holders insert the date that is no more than five (5) years following the date of grant of this Option] (the “Expiration Date”), unless extension of the term is permissible under Code Section 424(a). In no event shall this Option be exercisable after the Expiration Date. Vesting Date Number of Option Shares Available for ExerciseShares

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Tower Tech Holdings Inc.)

DURATION OF OPTION AND EXERCISABILITY. A. Initial Period of Exercisability. Except as provided in Articles II.B, II.B and II.C and III below, the Option shall become exercisable according to the following schedule. Once the Option becomes fully exercisable Participant may continue to exercise this Option under the terms and conditions of this Agreement until the first of the termination of this Option as provided herein or the Expiration Date (as defined below). If Participant does not purchase upon an exercise of this Option the full number of shares which Participant is then entitled to purchase, Participant may purchase upon any subsequent exercise prior to this Option’s termination or Expiration Date such previously unpurchased shares in addition to those Participant is otherwise entitled to purchase. Except as otherwise provided in Articles II.B, II.B and II.C and III. below, the term during which this Option may be exercised will continue until 5:00 p.m. (Central time) on [the date that is no more than ten (10) years following the date of grant of this Option OR: for greater than ten percent (10%) holders insert the date that is no more than five (5) years following the date of grant of this Option] (the “Expiration Date”). In no event shall this Option be exercisable after the Expiration Date. Vesting Date Number of Option Shares Available for Exercise

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Broadwind Energy, Inc.)

DURATION OF OPTION AND EXERCISABILITY. A. Initial Period of Exercisability. Except as provided in Articles II.BII.B., II.C II.C. and III below, the Option shall become exercisable according to the following schedule. Once the Option becomes fully exercisable Participant may continue to exercise this Option under the terms and conditions of this Agreement until the first of the termination of this Option as provided herein or the Expiration Date (as defined below). If Participant does not purchase upon an exercise of this Option the full number of shares which Participant is then entitled to purchase, Participant may purchase upon any subsequent exercise prior to this Option’s termination or Expiration Date such previously unpurchased shares in addition to those Participant is otherwise entitled to purchase. Except as otherwise provided in Articles II.BII.B., II.C and III. below, the term during which this Option may be exercised will continue until 5:00 p.m. (Central time) on [the date that is no more than ten (10) years following the date of grant of this Option OR: for greater than ten percent (10%) holders insert the date that is no more than five (5) years following the date of grant of this Option] (the “Expiration Date”). In no event shall this Option be exercisable after the Expiration Date. Vesting Date Number of Option Shares Vesting Date Available for Exercise

Appears in 1 contract

Samples: Executive Incentive Stock Option Agreement (Broadwind Energy, Inc.)

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DURATION OF OPTION AND EXERCISABILITY. A. Initial Period of Exercisability. Except as provided in Articles II.B, II.C II.B. and III II.C. below, the Option shall become exercisable according to the following schedule. Once the Option becomes fully exercisable Participant may continue to exercise this Option under the terms and conditions of this Agreement until the first of the termination of this Option as provided herein or the Expiration Date (as defined below). If Participant does not purchase upon an exercise of this Option the full number of shares which Participant is then entitled to purchase, Participant may purchase upon any subsequent exercise prior to this Option’s termination or Expiration Date such previously unpurchased shares in addition to those Participant is otherwise entitled to purchase. Except as otherwise provided in Articles II.B, II.C II.B. and III. II.C. below, the term during which this Option may be exercised will continue until 5:00 p.m. (Central time) on [the date that is no more than ten (10) years following the date of grant of this Option OR: for greater than ten percent (10%) holders insert the date that is no more than five (5) years following the date of grant of this Option] (the “Expiration Date”). In no event shall this Option be exercisable after the Expiration Date. Vesting Date Number of Option Shares Vesting Date Available for Exercise

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Broadwind Energy, Inc.)

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