OF OPTION SHARES Clause Samples

The "OF OPTION SHARES" clause defines the terms and conditions under which certain shares, known as option shares, may be issued or acquired under an agreement. Typically, this clause outlines the number of shares subject to options, the process for exercising those options, and any restrictions or requirements related to their issuance, such as vesting schedules or performance milestones. Its core practical function is to provide a clear framework for granting and managing share options, thereby ensuring both parties understand their rights and obligations regarding potential equity ownership.
OF OPTION SHARES. The vesting base date (the "Vesting Base Date") shall be the same date as the grant date set forth in Item B above; the Option Shares shall vest on the first anniversary of the Vesting Base Date at the rate specified in Item F above; the Option Shares shall vest at the end of each full period thereafter at the rate specified in Item G above.
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OF OPTION SHARES. (a) VESTING SCHEDULE. Subject to the expiration or earlier termination of the Option, and except as otherwise provided in Sections 2(b) and 2(c), the Option shall vest and become exercisable with respect to the following percentages of the Option Shares on the following vesting dates, provided that Optionee is then employed by the Company and shall have been continuously employed by the Company from the Award Date through such dates: Notwithstanding the foregoing sentence, and except as otherwise provided herein, the above described vesting shall cease and no unvested Option Shares shall vest after the date on which your employment with the Company terminates for any reason. (b) ACCELERATION OF VESTING UPON DISCHARGE IN ANTICIPATION OF OR FOLLOWING A CHANGE IN CONTROL. If your employment is terminated by the Company in connection with or anticipation of a Change in Control, or if your employment is terminated by the Company or a Successor Entity (as defined in Section 7) at any time during the one-year period commencing on the date of a Change in Control, all unvested Option Shares shall automatically vest upon such termination of employment. For the purpose of this Section 2(b), your employment shall be deemed to have been terminated by the Company or a Successor Entity if your employment (i) is actually terminated by the Company or a Successor Entity other than for Cause or (ii) is terminated by you at any time during the one-year period commencing on the date of a Change in Control for Good Reason (as defined in Section 7). (c) ACCELERATION OF VESTING UPON RETIREMENT, DISABILITY, OR DEATH. In the event of (i) your retirement from the Company after attaining age 65, or, in the Committee's discretion, your retirement after attaining age 55 but not age 65, (ii) your Disability (as defined in Section 7) if you become Disabled while an employee of the Company and such Disability results in your separation of employment from the Company, or (iii) your death if such death occurs while your are employed by the Company, all unvested Option Shares shall automatically vest and become immediately exercisable.
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OF OPTION SHARES. The Option Shares shall vest and become exercisable in accordance with the following schedule: (a) 1,250,000 of the Option Shares shall be vested and exercisable as of the Grant Date; (b) 1,000,000 of the Option Shares shall become vested and exercisable on March 18, 1999, provided Optionee remains an employee of the Corporation as of such date; and (c) 1,000,000 of the Option Shares shall become vested and exercisable on March 18, 2000, provided Optionee remains an employee of the Corporation as of such date. In addition, the Option Shares shall become immediately vested and fully exercisable upon a Change in Control. Any vested portion of the Option Shares not purchased on its vesting date may be purchased thereafter; provided, however, that the Option granted hereunder shall terminate upon the expiration of the Option Term. Optionee shall have the right hereunder to purchase solely the Option Shares which have become vested and exercisable under this Agreement and any portion of the Option Shares which shall not have become vested and exercisable hereunder shall terminate and be forfeited by Optionee upon termination of Optionee's status as an employee of the Corporation.
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OF OPTION SHARES. 3.1. The Option Shares shall vest as follows: (i) of the Option Shares shall vest and become exercisable on the date that is ___________ months from the Effective Date and (ii) ____th of the Option Shares shall vest and become exercisable at the end of each month thereafter for _______________ months; provided that Optionee remains an employee of the Corporation as of each such date. 3.2. Any vested portion of the Option Shares not purchased on its vesting date may be purchased thereafter; provided, however, that the Option granted hereunder shall terminate upon the expiration of the Option Term. Optionee shall have the right hereunder to purchase solely the Option Shares which have become vested and exercisable under this Agreement and any portion of the Option Shares which shall not have become vested and exercisable hereunder shall terminate and be forfeited by Optionee upon termination of Optionee's status as an employee of the Corporation.
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OF OPTION SHARES. (a) Ordinary Vesting of Unvested Options. Beginning on March 10, ------------------------------------ 1998, and on each of the subsequent annual anniversaries of that date as hereinbelow specified, the percentage of the Option Shares hereinbelow specified shall become vested; provided, however that there has been no Termination As A -------- ------- Director and the Company does not fail or refuse to nominate Optionee as a director and Optionee is thereafter elected on or prior to such applicable grant date: Date Shares ---- ------
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OF OPTION SHARES. The Option Shares shall vest ("Vest" and derivations) and become "Vested Option Shares" on the dates ("Vesting Dates") set forth in the following Vesting Schedule:
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Related to OF OPTION SHARES

  • Option Shares For the purposes of covering any over-allotments in connection with the distribution and sale of the Firm Shares, the Company hereby grants to the Underwriters an option to purchase up to [●] additional shares of Common Stock, representing fifteen percent (15%) of the Firm Shares sold in the offering, from the Company (the “Over-allotment Option”). Such [●] additional shares of Common Stock, the net proceeds of which will be deposited with the Company’s account, are hereinafter referred to as “Option Shares.” The purchase price to be paid per Option Share shall be equal to the price per Firm Share set forth in Section 1.1.1 hereof. The Firm Shares and the Option Shares are hereinafter referred to together as the “Public Securities.” The offering and sale of the Public Securities is hereinafter referred to as the “Offering.”

  • Delivery of Option Shares The Company shall deliver a certificate for the Option Shares to the Employee as soon as practicable after payment therefor.

  • Purchased Shares Subject to the terms and conditions provided below, Seller shall sell and transfer to Buyers and Buyers shall purchase from Seller, on the Closing Date (as defined in Section 1(c)), all of the Shares.

  • The Shares The Shares to be issued and sold by the Company hereunder have been duly authorized by the Company and, when issued and delivered and paid for as provided herein, will be duly and validly issued, will be fully paid and nonassessable and will conform to the descriptions thereof in the Registration Statement, the Pricing Disclosure Package and the Prospectus; and the issuance of the Shares is not subject to any preemptive or similar rights.

  • Initial Shares As used herein, “Initial Shares” means 229,865 shares of the Class, subject to adjustment from time to time pursuant to the provisions of this Warrant.