Common use of Performance-Based Options Clause in Contracts

Performance-Based Options. Options to purchase the remaining 350,000 Option Shares (the APerformance Based Options@) shall vest, if at all, over a period of three years and five months commencing on January 31, 1999 and ending on June 30, 2002. The vesting schedule shall be based on four periods during which the APerformance Based Options@ shall vest and such periods are as follows: Period 1 - Commencing January 31, 1999, ending June 30, 1999. Period 2 - Commencing July 1, 1999, ending June 30, 2000. Period 3 - Commencing July 1, 2000, ending June 30, 2001. Period 4 - Commencing July 1, 2001, ending January 31, 2002.

Appears in 2 contracts

Samples: Stock Option Agreement (Howell Reese S Jr), Stock Option Agreement (Davis Roger D)

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Performance-Based Options. Options to purchase the remaining 350,000 Option Shares (the APerformance "Performance Based Options@Options") shall vest, if at all, over a period of three years and five months commencing on January 31, 1999 and ending on June 30, 2002. The vesting schedule shall be based on four periods during which the APerformance "Performance Based Options@ Options" shall vest and such periods are as follows: Period 1 - Commencing January 31, 1999, ending June 30, 1999. 70 Period 2 - Commencing July 1, 1999, ending June 30, 2000. Period 3 - Commencing July 1, 2000, ending June 30, 2001. Period 4 - Commencing July 1, 2001, ending January 31, 2002.

Appears in 1 contract

Samples: Stock Option Agreement (Celtic Investment Inc)

Performance-Based Options. Options to purchase the remaining 350,000 Option Shares (the APerformance "Performance Based Options@Options") shall vest, if at all, over a period of three years and five months commencing on January 31, 1999 and ending on June 30, 2002. The vesting schedule shall be based on four periods during which the APerformance "Performance Based Options@ Options" shall vest and such periods are as follows: Period 1 - Commencing January 31, 1999, ending June 30, 1999. 91 Period 2 - Commencing July 1, 1999, ending June 30, 2000. Period 3 - Commencing July 1, 2000, ending June 30, 2001. Period 4 - Commencing July 1, 2001, ending January 31, 2002.

Appears in 1 contract

Samples: Stock Option Agreement (Celtic Investment Inc)

Performance-Based Options. Options to purchase the remaining 350,000 Option Shares (the APerformance "Performance Based Options@Options") shall vest, if at all, over a period of three years and five months commencing on January 31, 1999 and ending on June 30, 2002. The vesting schedule shall be based on four periods during which the APerformance "Performance Based Options@ Options" shall vest and such periods are as follows: Period 1 - Commencing January 31, 1999, ending June 30, 1999. 103 Period 2 - Commencing July 1, 1999, ending June 30, 2000. Period 3 - Commencing July 1, 2000, ending June 30, 2001. Period 4 - Commencing July 1, 2001, ending January 31, 2002.

Appears in 1 contract

Samples: Stock Option Agreement (Celtic Investment Inc)

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Performance-Based Options. Options to purchase the remaining 350,000 Option Shares (the APerformance "Performance Based Options@Options") shall vest, if at all, over a period of three years and five months commencing on January 31, 1999 and ending on June 30, 2002. The vesting schedule shall be based on four periods during which the APerformance "Performance Based Options@ Options" shall vest and such periods are as follows: Period 1 - Commencing January 31, 1999, ending June 30, 1999. 82 Period 2 - Commencing July 1, 1999, ending June 30, 2000. Period 3 - Commencing July 1, 2000, ending June 30, 2001. Period 4 - Commencing July 1, 2001, ending January 31, 2002.

Appears in 1 contract

Samples: Stock Option Agreement (Celtic Investment Inc)

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