Exercise Schedule. Except as otherwise provided in Sections 6 or 10 of this Agreement, the Option is exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a certain number of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the "Vesting Date") upon which the Optionee shall be entitled to exercise the Option with respect to the number of Shares granted as indicated beside the date, provided that the Optionee has continued as a Service Provider through and including the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- ------------ 145,000 March 31, 2005 145,000 March 31, 2006 Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided, however, that vesting shall be subject to acceleration in connection with Optionee's termination of service to the extent provided in the Employment Agreement between Optionee and the Company dated as of April 2, 2003 (the "Employment Agreement"), and pursuant to Section 10 below. Upon an Optionee's termination of Service, any unvested portion of the Option shall terminate and be null and void.
Appears in 2 contracts
Sources: Nonstatutory Stock Option Agreement (Us Dataworks Inc), Nonstatutory Stock Option Agreement (Us Dataworks Inc)
Exercise Schedule. Except as otherwise provided in Sections 6 or 10 and 7 of this Agreement, the Option is will become vested and exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable vested with respect to a certain number percentage of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date Option shall vest and become exercisable in eight (8) equal quarterly installments beginning three (3) months after January 25, 2008 and continuing quarterly thereafter (each, a “Vesting Date”), with the last quarterly installment vesting and becoming exercisable on January 25, 2010, provided (except as otherwise set forth below) that the Optionee’s employment or service with the Company and its Subsidiaries during the period beginning on January 25, 2008 (the "“Vesting Commencement Date"”) upon which the Optionee shall be entitled to exercise the Option with respect to the number of Shares granted as indicated beside the date, provided that the Optionee has continued as a Service Provider continues through and including on the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- ------------ 145,000 March 31. Notwithstanding anything contained herein to the contrary, 2005 145,000 March 31once the Option has vested and become exercisable with respect to 100% of the Shares, 2006 then the Option shall be fully vested and exercisable and the provisions of the preceding sentence shall cease to apply. Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided. Except as otherwise set forth below, however, that vesting shall be subject to acceleration in connection with Optionee's upon the termination of the Optionee’s employment or service to the extent provided in the Employment Agreement between Optionee and with the Company dated as of April 2, 2003 (the "Employment Agreement"), and pursuant to Section 10 below. Upon an Optionee's termination of Serviceits Subsidiaries, any unvested portion of the Option shall terminate and be null and void.
Appears in 2 contracts
Sources: Non Qualified Stock Option Agreement (Wellcare Health Plans, Inc.), Non Qualified Stock Option Agreement (Wellcare Health Plans, Inc.)
Exercise Schedule. Except as otherwise provided in Sections 6 or 10 of this Agreement, the Option is exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a certain number of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the "Vesting Date") upon which the Optionee shall be entitled to exercise the Option with respect to the number of Shares granted as indicated beside the date, provided that the Optionee has continued as a Service Provider through and including the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- ------------ 145,000 725,000 March 31, 2005 145,000 725,000 March 31, 2006 Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided, however, that vesting shall be subject to acceleration in connection with Optionee's termination of service to the extent provided in the Employment Agreement between Optionee and the Company dated as of April 2, 2003 (the "Employment Agreement"), and pursuant to Section 10 below. Upon an Optionee's termination of Service, any unvested portion of the Option shall terminate and be null and void.
Appears in 2 contracts
Sources: Nonstatutory Stock Option Agreement (Us Dataworks Inc), Nonstatutory Stock Option Agreement (Us Dataworks Inc)
Exercise Schedule. Except as otherwise provided in Sections 6 7 or 10 of this Agreement, or in the Plan, the Option is exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a certain number percentage of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates Options shall vest over a period of four years from the Date of Grant, as follows (each date (the "indicated referred to as a “Vesting Date"”): One fourth (25%) upon which the Optionee shall be entitled to exercise of the Option shall vest one year after the Grant Date with respect the remaining three-fourths of the Option to vest in equal monthly amounts over the number of Shares granted as indicated beside the datefollowing thirty-six month period (2.08333% per month); in all cases, provided that the Continuous Service of the Optionee has continued as a Service Provider continues through and including on the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- ------------ 145,000 March 31, 2005 145,000 March 31, 2006 . Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided, however, that vesting shall be subject to acceleration in connection with Optionee's . Upon the termination of service to the extent provided in the Employment Agreement between Optionee and Optionee’s Continuous Service with the Company dated as of April 2, 2003 (the "Employment Agreement"), and pursuant to Section 10 below. Upon an Optionee's termination of Serviceits Related Entities, any unvested portion of the Option shall terminate and be null and void.
Appears in 1 contract
Exercise Schedule. Except as otherwise provided in Sections 6 or 10 Section 5 of this Agreement, the Option is exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a certain number percentage of Shares shares of Stock as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the "Vesting Date") upon which the Optionee shall be entitled to exercise the Option with respect to the number percentage of Shares shares of Stock granted as indicated beside the date, provided that the Optionee has continued as been continuously employed by the Company or a Service Provider Subsidiary through and including on the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- % of Stock/No. of Shares Vesting Date ------------------------ ------------ 145,000 50%/200,000 shares On March 3122, 2005 145,000 2003 50%/200,000 shares On March 3122, 2006 2004 Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided, however, that vesting shall be subject to acceleration in connection with Optionee's termination of service to . As soon as the extent provided in the Employment Agreement between Optionee and no longer is employed by the Company dated or any of its Subsidiaries, is no longer serving as of April 2, 2003 (the "Employment Agreement"), an officer and pursuant to Section 10 below. Upon an Optionee's termination of Serviceis no longer serving as a Director, any unvested portion of the Option shall terminate and be null and void.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Parker Richard)
Exercise Schedule. Except as otherwise provided in Sections 6 or 10 9 of this Agreement, or in the Plan, the Option is exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a certain number percentage of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the "Vesting Date") upon which the Optionee shall be entitled to exercise the Option with respect to the number percentage of Shares granted as indicated beside the date, provided that the Optionee has continued as a Service Provider through and including the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- ------------ 145,000 March 31, 2005 145,000 March 31, 2006 Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided, however, that vesting shall be subject to acceleration in connection with Optionee's termination of service to the extent provided in the Employment Agreement between Optionee and the Company dated as of April 2, 2003 ______________ (the "Employment Agreement"), and pursuant to Section 10 below. Upon an Optionee's termination of Service, any unvested portion of the Option shall terminate and be null and void.
Appears in 1 contract
Sources: Nonstatutory Stock Option Agreement (Us Dataworks Inc)
Exercise Schedule. Except as otherwise provided in Sections 6 or 10 and 7 of this Agreement, the Option is will become vested and exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable vested with respect to a certain number percentage of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the "Vesting Date") upon which the Optionee Option shall be entitled vest and become exercisable with respect to exercise the Option 150,000 Shares on April 1, 2010 and with respect to the number of remaining 150,000 Shares granted as indicated beside the dateon December 31, 2010 (each, a “Vesting Date”), provided (except as otherwise set forth below) that the Optionee has continued as a Service Provider Optionee’s employment or service with the Company and its Subsidiaries continues through and including on the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- ------------ 145,000 March 31. Notwithstanding anything contained herein to the contrary, 2005 145,000 March 31once the Option has vested and become exercisable with respect to 100% of the Shares, 2006 then the Option shall be fully vested and exercisable and the provisions of the preceding sentence shall cease to apply. Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided. Except as otherwise set forth below, however, that vesting shall be subject to acceleration in connection with Optionee's upon the termination of the Optionee’s employment or service to the extent provided in the Employment Agreement between Optionee and with the Company dated as of April 2, 2003 (the "Employment Agreement"), and pursuant to Section 10 below. Upon an Optionee's termination of Serviceits Subsidiaries, any unvested portion of the Option shall terminate and be null and void.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Wellcare Health Plans, Inc.)
Exercise Schedule. Except as otherwise provided in Sections 6 or 10 9 of this Agreement, or in the Plan, the Option is exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a certain number percentage of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates Options shall vest over a period of four years from the Date of Grant, as follows (each date (the "indicated referred to as a “Vesting Date"”): One fourth (25%) upon which the Optionee shall be entitled to exercise of the Option shall vest one year after the Grant Date with respect the remaining three-fourths of the Option to vest in equal monthly amounts over the number of Shares granted as indicated beside the datefollowing thirty-six month period (2.08333% per month); in all cases, provided that the Continuous Service of the Optionee has continued as a Service Provider continues through and including on the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- ------------ 145,000 March 31, 2005 145,000 March 31, 2006 . Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided, however, that vesting shall be subject to acceleration in connection with Optionee's . Upon the termination of service to the extent provided in the Employment Agreement between Optionee and Optionee’s Continuous Service with the Company dated as of April 2, 2003 (the "Employment Agreement"), and pursuant to Section 10 below. Upon an Optionee's termination of Serviceits Related Entities, any unvested portion of the Option shall terminate and be null and void.
Appears in 1 contract
Exercise Schedule. Except as otherwise provided in Sections 6 or 10 and 7 of this Agreement, or in the Plan, the Option is exercisable in installments as provided below, which shall be cumulative. To the extent that the Option has become exercisable with respect to a certain number percentage of Shares as provided below, the Option may thereafter be exercised by the Optionee, in whole or in part, at any time or from time to time prior to the expiration of the Option as provided herein. The following table indicates each date (the "Vesting Date") upon which the Optionee shall be become entitled to exercise the Option with respect to the number percentage of the total Shares granted as indicated beside the datedate indicated in the table below (each such date being a “Vesting Date”), provided that the Optionee has continued as a Service Provider Optionee’s employment with the Company or any its Subsidiaries continues through and including on the applicable Vesting Date: NUMBER OF SHARES VESTING DATE ---------------- ------------ 145,000 March 31Notwithstanding anything contained herein to the contrary, 2005 145,000 March 31once the Option has vested and become exercisable with respect to 100% of the Shares, 2006 then the Option shall be fully vested and the provisions of the preceding sentence shall cease to apply. Except as otherwise specifically provided herein, there shall be no proportionate or partial vesting in the periods prior to each Vesting Date, and all vesting shall occur only on the appropriate Vesting Date; provided, however, that vesting shall be subject to acceleration in connection with Optionee's . Upon the termination of the Optionee’s employment or service to the extent provided in the Employment Agreement between Optionee and with the Company dated as of April 2, 2003 (the "Employment Agreement"), and pursuant to Section 10 below. Upon an Optionee's termination of Serviceits Subsidiaries, any unvested portion of the Option shall terminate and be null and void.
Appears in 1 contract
Sources: Non Qualified Stock Option Agreement (Wellcare Health Plans, Inc.)