Common use of RATE OF EXERCISE ON TARSAP OPTIONS Clause in Contracts

RATE OF EXERCISE ON TARSAP OPTIONS. (i) Optionee shall not be vested with the right to exercise this Option with respect to 200,000 of the Shares (100,000 Class A Shares and 100,000 Class B Shares) (the "TARSAP SHARES") subject thereto (the "TARSAP OPTIONS") until ten (10) years after the Vesting Date, at which time Optionee shall acquire the vested right to exercise the TARSAP Options and purchase one hundred percent (100%) of the TARSAP Shares if (but only if) Optionee is a director or employee of the Company or any of its Subsidiaries as of such date.

Appears in 2 contracts

Samples: Industries Corporation Stock Option Agreement (United Industries Corp), Industries Corporation Stock Option Agreement (United Industries Corp)

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RATE OF EXERCISE ON TARSAP OPTIONS. (i) Optionee shall not be vested with the right to exercise this Option with respect to 200,000 400,000 of the Shares (100,000 200,000 Class A Shares and 100,000 200,000 Class B Shares) (the "TARSAP SHARESShares") subject thereto (the "TARSAP OPTIONSOptions") until ten (10) years after the Vesting Grant Date, at which time Optionee shall acquire the vested right to exercise the TARSAP Options and purchase one hundred percent (100%) of the TARSAP Shares if (but only if) Optionee is a director or an employee of the Company or any of its Subsidiaries as of such date.

Appears in 2 contracts

Samples: Industries Corporation Stock Option Agreement (United Industries Corp), Industries Corporation Stock Option Agreement (United Industries Corp)

RATE OF EXERCISE ON TARSAP OPTIONS. (i) Optionee shall not be vested with the right to exercise this Option with respect to 200,000 400,000 of the Shares (100,000 200,000 Class A Shares and 100,000 200,000 Class B Shares) (the "TARSAP SHARES") subject thereto (the "TARSAP OPTIONS") until ten (10) years after the Vesting Grant Date, at which time Optionee shall acquire the vested right to exercise the TARSAP Options and purchase one hundred percent (100%) of the TARSAP Shares if (but only if) Optionee is a director or an employee of the Company or any of its Subsidiaries as of such date.

Appears in 1 contract

Samples: Industries Corporation Stock Option Agreement (United Industries Corp)

RATE OF EXERCISE ON TARSAP OPTIONS. (i) Optionee shall not be vested with the right to exercise this Option with respect to 200,000 533,334 of the Shares (100,000 266,667 Class A Shares and 100,000 266,667 Class B Shares) (the "TARSAP SHARESShares") subject thereto (the "TARSAP OPTIONSOptions") until ten (10) years after the Vesting Grant Date, at which time Optionee shall acquire the vested right to exercise the TARSAP Options and purchase one hundred percent (100%) of the TARSAP Shares if (but only if) Optionee is a director or an employee of the Company or any of its Subsidiaries as of such date.

Appears in 1 contract

Samples: Industries Corporation Stock Option Agreement (United Industries Corp)

RATE OF EXERCISE ON TARSAP OPTIONS. (i) Optionee shall not be vested with the right to exercise this Option with respect to 200,000 _______ of the Shares (100,000 ______ Class A Shares and 100,000 ______ Class B Shares) (the "TARSAP SHARES") subject thereto (the "TARSAP OPTIONS") until ten (10) years after the Vesting Grant Date, at which time Optionee shall acquire the vested right to exercise the TARSAP Options and purchase one hundred percent (100%) of the TARSAP Shares if (but only if) Optionee is a director or an employee of the Company or any of its Subsidiaries as of such date.

Appears in 1 contract

Samples: Industries Corporation Stock Option Agreement (United Industries Corp)

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RATE OF EXERCISE ON TARSAP OPTIONS. (i) Optionee shall not be vested with the right to exercise this Option with respect to 200,000 of the Shares (100,000 Class A Shares and 100,000 Class B Shares) (the "TARSAP SHARESShares") subject thereto (the "TARSAP OPTIONSOptions") until ten (10) years after the Vesting Grant Date, at which time Optionee shall acquire the vested right to exercise the TARSAP Options and purchase one hundred percent (100%) of the TARSAP Shares if (but only if) Optionee is a director or employee of the Company or any of its Subsidiaries as of such date.

Appears in 1 contract

Samples: Industries Corporation Stock Option Agreement (United Industries Corp)

RATE OF EXERCISE ON TARSAP OPTIONS. (i) Optionee shall not be vested with the right to exercise this Option with respect to 200,000 66,667 of the Shares (100,000 33,333.5 Class A Shares and 100,000 33,333.5 Class B Shares) (the "TARSAP SHARES") subject thereto (the "TARSAP OPTIONS") until ten (10) years after the Vesting Grant Date, at which time Optionee shall acquire the vested right to exercise the TARSAP Options and purchase one hundred percent (100%) of the TARSAP Shares if (but only if) Optionee is a director or an employee of the Company or any of its Subsidiaries as of such date.

Appears in 1 contract

Samples: Industries Corporation Stock Option Agreement (United Industries Corp)

RATE OF EXERCISE ON TARSAP OPTIONS. (i) Optionee shall not be vested with the right to exercise this Option with respect to 200,000 800,000 of the Shares (100,000 400,000 Class A Shares and 100,000 400,000 Class B Shares) (the "TARSAP SHARESShares") subject thereto (the "TARSAP OPTIONSOptions") until ten (10) years after the Vesting Grant Date, at which time Optionee shall acquire the vested right to exercise the TARSAP Options and purchase one hundred percent (100%) of the TARSAP Shares if (but only if) Optionee is a director or an employee of the Company or any of its Subsidiaries as of such date.

Appears in 1 contract

Samples: Industries Corporation Stock Option Agreement (United Industries Corp)

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