Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to 40% of the shares on December 18, 2005, and with respect to 1.667% of the shares on the last day of each succeeding calendar month thereafter so long as the Participant continues in the Service of the Company; provided, however, the Participant may not exercise any Option for fractional shares of Common Stock. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
Limitations on Exercise of Options. (a) Subject to the terms and conditions set forth herein and in the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to 25% of the shares of Common Stock on the first anniversary of the Effective Date and on each succeeding anniversary thereafter so long as the Participant is employed by the Company; provided, however, that upon the occurrence of a Change in Control (as defined below), all of the then unvested Options shall automatically vest and be fully exercisable and shall remain so exercisable in accordance with the terms of this Agreement. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then unvested Options at any time.
Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to 25% of the shares on April 26, 2005 so long as the Participant continues in the Service of the Company from the Effective Date through April 26, 2005, and with respect to 2.083% of the shares on the last day of each succeeding calendar month thereafter so long as the Participant continues in the Service of the Company; provided, however, the Participant may not exercise any Option for fractional shares of Common Stock. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
Limitations on Exercise of Options. Subject to the terms and conditions set forth herein and the Plan, the Options shall vest and become exercisable on the Effective Date; provided, however, the Participant may not exercise any Option for fractional shares of Common Stock. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
Limitations on Exercise of Options. 5.6.1 Vested Incentive Stock Options may not be exercised after the earlier of (i) their expiration date, (ii) twelve (12) months from the date of the Participant's Termination of Employment by reason of his death, (iii) twelve (12) months from the date of the Participant's Termination of Employment by reason of his Permanent Disability, or (iv) the expiration of three (3) months from the date of the Participant's Termination of Employment for any reason other than such Participant's death or Permanent Disability, unless the Participant dies within said three (3) month period and the Award Agreement or the Committee permits later exercise. Leaves of absence for less than ninety (90) days shall not cause a Termination of Employment for purposes of Incentive Stock Options.
Limitations on Exercise of Options. Subject to early expiration of the Options upon a termination of employment with the Company as set forth in Section 3 below and compliance with the terms and conditions set forth herein, the Options may be exercised only after they vest and only with respect to whole shares. The Options shall vest as follows: in quarterly installments over a period of three (3) years from the Grant Date, except that (i) no vesting will occur until six (6) months following the Grant Date, at which time one-sixth (1/6) of the Options will vest, and (ii) each installment will round up to the nearest whole option, with the last installment consisting of any remaining unvested options.
Limitations on Exercise of Options. (a) Option A shall become exercisable as follows:
Limitations on Exercise of Options. (a) Subject to the terms and conditions set forth herein and in the Plan, the Options shall vest and become exercisable, on a cumulative basis, with respect to [25%] of the shares on the first anniversary of the Effective Date and on each succeeding anniversary thereafter so long as the Participant is a member of the Board (a "Director"); provided, however, upon the occurrence of a Change of Control, as defined below, all of the then unvested Options shall automatically vest and be fully exercisable and shall remain so exercisable in accordance with the terms of this Agreement. The Committee or the Board may accelerate the vesting and exercisability of any or all of the then-unvested Options at any time.
Limitations on Exercise of Options. Subject to early expiration of the Options upon a termination of employment with the Company as set forth in Section 3 below and compliance with the terms and conditions set forth herein, the Options may be exercised only after they vest and only with respect to whole shares. The Options shall vest as follows: 1/4 of the Options on and after the first anniversary of the Grant Date, an additional 1/48 of the Options on the «Day» day on and after each of the 13th through the 47th month following the Grant Date and the remainder of the Options on and after the fourth anniversary of the Grant Date.
Limitations on Exercise of Options. (a) Vested Incentive Stock Options may not be exercised after the earlier of (i) their expiration date; (ii) 12 months from the date of the Participant's death; (iii) 12 months from the date of the Participant's Termination of Employment by reason of his Permanent Disability; or (iv) the expiration of three months from the date of the Participant's Termination of Employment for any reason other than such Participant's death or Permanent Disability, unless the Participant dies within said three-month period; unless provided otherwise in the Employee's Employment Agreement. Leaves of absence for less than 90 days shall not cause a Termination of Employment for purposes of Incentive Stock Options.
