Shares Subject to Exercise. This Option shall be exercisable in installments as to 25% on and after , 25% of the Shares on and after , 25% of the Shares on and after and 25% of the Shares on and after , provided, however, that an installment shall not become exercisable if the Optionee is not employed as an employee, director, consultant or adviser of the Company, or its Affiliate, as of such anniversary date. Once exercisable, the Option shall thereafter remain exercisable as to such Shares for the term specified in Paragraph 2 hereof, unless Optionee’s employment is terminated pursuant to Paragraph 6 hereof or the Option is terminated pursuant to a Corporate Transaction (as defined in Paragraph 15 hereof). The Administrator may condition the exercise of the Option on the Optionee’s entering into a shareholders agreement with the Company and other shareholders of the Company which will restrict the transferability of the Shares and contain other customary provisions including rights of repurchase or first refusal on the part of the Company and may include “tag along” rights and/or “drag along” rights.
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Samples: Non Qualified Stock Option Agreement (Optical Molecular Imaging, Inc)
Shares Subject to Exercise. This Option shall be exercisable in equal installments as to of twenty-five percent (25% on and after , 25% %) of the Shares on and after , 25% each of the Shares on and after and 25% first four anniversaries of the Shares on and after date hereof, provided, however, that an installment shall not become exercisable if the Optionee is not employed as an employee, director, consultant or adviser of the Company, or its Affiliate, as of such anniversary datedate (except as otherwise provided for in Section 6 hereof). Once exercisable, the Option shall thereafter remain exercisable as to such Shares for the term specified in Paragraph Section 2 hereof, unless Optionee’s 's employment is terminated pursuant to Paragraph Section 6 hereof or the Option is terminated pursuant to a Corporate Transaction (as defined in Paragraph 15 hereof)Transaction. The Administrator may condition the exercise of the Option on the Optionee’s 's entering into a shareholders stockholders agreement with the Company and and/or other shareholders of the Company stockholders which will restrict the transferability of the Shares and contain other customary provisions including rights of repurchase or first refusal on the part of the Company and may include “tag along” rights and/or “"drag along” " rights.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Digital Theater Systems Inc)
Shares Subject to Exercise. This Option shall be exercisable in equal installments as to of twenty-five percent (25% on and after , 25% %) of the Shares on and after , 25% each of the Shares on and after and 25% first four anniversaries of the Shares on and after , date hereof; provided, however, that an installment shall not become exercisable if the Optionee is not employed as an employee, director, consultant or adviser in the employ of the Company, or its Affiliate, as of such anniversary datevesting date (except as otherwise provided for in Section 6 hereof). Once exercisable, the Option shall thereafter remain exercisable as to such Shares for the term specified in Paragraph Section 2 hereof, unless Optionee’s 's employment is terminated pursuant to Paragraph Section 6 hereof or the Option is terminated pursuant to a Corporate Transaction (as defined in Paragraph 15 hereof)Transaction. The Administrator may condition the exercise of the Option on the Optionee’s 's entering into a shareholders stockholders agreement with the Company and and/or other shareholders of the Company stockholders which will restrict the transferability of the Shares and contain other customary provisions including rights right of repurchase or first refusal on the part of the Company and may include “tag "drag-along” rights and/or “drag along” " rights.
Appears in 1 contract
Samples: Incentive Stock Option Agreement (Digital Theater Systems Inc)
Shares Subject to Exercise. This Option shall be exercisable in installments as to 25% on and after , 25% ___ percent (__%) of the Shares on and after , 25% each of the Shares on and after and 25% first ____ anniversaries of the Shares on and after , date hereof provided, however, that an installment shall not become exercisable if the Optionee is not employed as an employee, director, consultant or adviser of the Company, or its Affiliate, as of such anniversary date. Once exercisable, the Option shall thereafter remain exercisable as to such Shares for the term specified in Paragraph Section 2 hereof, unless Optionee’s 's employment is terminated pursuant to Paragraph Section 6 hereof or the Option is terminated pursuant to a Corporate Transaction (as defined in Paragraph Section 15 hereof). The Administrator may condition the exercise of the Option on the Optionee’s 's entering into a shareholders agreement with the Company and and/or other shareholders of the Company which will restrict the transferability of the Shares and contain other customary provisions including rights of repurchase or first refusal on the part of the Company and may include “tag along” rights and/or “"drag along” " rights.
Appears in 1 contract
Shares Subject to Exercise. This Option shall be exercisable in installments as to 25% on and after , 25% ___ percent (___%) of the Shares on and after , 25% each of the Shares on and after and 25% first ___ anniversaries of the Shares on and after , date hereof provided, however, that an installment shall not become exercisable if the Optionee is not employed as an employee, director, consultant or adviser of the Company, or its Affiliate, as of such anniversary date. Once exercisable, the Option shall thereafter remain exercisable as to such Shares for the term specified in Paragraph Section 2 hereof, unless Optionee’s employment is terminated pursuant to Paragraph Section 6 hereof or the Option is terminated pursuant to a Corporate Transaction (as defined in Paragraph Section 15 hereof). The Administrator may condition the exercise of the Option on the Optionee’s entering into a shareholders agreement with the Company and and/or other shareholders of the Company which will restrict the transferability of the Shares and contain other customary provisions including rights of repurchase or first refusal on the part of the Company and may include “tag along” rights and/or “drag along” rights.
Appears in 1 contract
Shares Subject to Exercise. This Option shall be exercisable in installments as to 25% on and after , 25% ___ percent (__%) of the Shares on and after , 25% each of the Shares on and after and 25% first ____ anniversaries of the Shares on and after , date hereof provided, however, that an installment shall not become exercisable if the Optionee is not employed as an employee, director, consultant or adviser of the Company, or its Affiliate, as of such anniversary date. Once exercisable, the Option shall thereafter remain exercisable as to such Shares for the term specified in Paragraph Section 2 hereof, unless Optionee’s employment is terminated pursuant to Paragraph Section 6 hereof or the Option is terminated pursuant to a Corporate Transaction (as defined in Paragraph Section 15 hereof). The Administrator may condition the exercise of the Option on the Optionee’s entering into a shareholders agreement with the Company and and/or other shareholders of the Company which will restrict the transferability of the Shares and contain other customary provisions including rights of repurchase or first refusal on the part of the Company and may include “tag along” rights and/or “drag along” rights.
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