Term and Exercise. The Option shall expire five (5) years from the date hereof, subject to earlier termination as set forth in Section 3. Subject to the provisions of Section 3, the Option shall become exercisable in installments as set forth on the attached Face Sheet of this Agreement.
Term and Exercise. This Incentive Stock Option may be exercised during a period beginning one year after and ending _____ years after the date of grant thereof (the "option term"). Unless a shorter period is provided by the Board (or, if applicable, a committee thereof appointed pursuant to Section 1.02(d) of the Plan), this Incentive Stock Option shall be exercised in accordance with this section 2. During the first year of the option term, no more than 25% of the initial total number of shares covered by the Incentive Stock Option may be exercised and purchased by the Optionee. During the second year of the option term, no more than 50% of the initial total number of shares covered by the Incentive Stock Option may be exercised and purchased by the Optionee, such percentage to include the percentage, by number of shares, purchased in the previous year of the option term. During the third year of the option term, no more than 75% of the initial total number of shares covered by the Incentive Stock Option may be exercised and purchased by the Optionee, such percentage to include the percentages, by number of shares, previously purchased in earlier years of the option term on a cumulative basis. During the fourth year and any succeeding year of the option term, 100% of the initial total number of shares covered by the Incentive Stock Option may be exercised and purchased by the Optionee, such percentage to include the percentages, by number of shares, previously purchased in earlier years of the option term on a cumulative basis. No fractional shares shall be issued as a result of the exercise of this Incentive Stock Option. No Incentive Stock Option shall be exercisable after the expiration of its option term.
Term and Exercise. The Option shall expire five (5) years from the date hereof. The Option is exercisable in full on the Date of Grant. If the Optionee's service with the Corporation terminates for any reason or if the Optionee ceases to be a Non-Employee Director, the Option may be exercised but only to the extent it was exercisable on the date of such termination of service until the Option expires in accordance with the first sentence of this Section 2. Notwithstanding anything to the contrary in this Section 2, if one of the events specified in Section 7.05(d)(i), (ii), (iii) or (iv) of the Plan occurs, the provisions of such Section 7.05(d) shall determine when the Option becomes exercisable, when it may be exercised and when it expires.
Term and Exercise. The Option shall expire ten (10) years from the Grant Date, subject to earlier termination as set forth in Section 3. Subject to the provisions of Sections 2 and 3, the Option shall become exercisable in installments as set forth on the last page of this Agreement.
Term and Exercise. Buyer may exercise the Option at any time up to and until December 31, 2005, by giving TFS written notice of the intention to exercise the Option.
Term and Exercise. The Option shall expire five (5) years from the date hereof, subject to earlier termination as set forth in Section 3. Subject to the provisions of Section 3, the Option shall become exercisable in installments as set forth on the last page of this Agreement. Notwithstanding anything to the contrary in this Agreement, this Option shall terminate and be void and of no effect if the Plan is not approved by the holders of Voting Stock at the Corporation's 1998 annual meeting of shareholders.
Term and Exercise. The Option shall expire five (5) years from the date hereof. The Option shall become exercisable in installments as set forth on the attached Face Sheet of this Agreement; provided, however, that, if the Optionee is removed for Cause, the Option shall cease to continue to become exercisable on or after the date of such removal. If the Optionee's service with the Corporation terminates for any reason or if the Optionee ceases to be a Non-Employee Director, the Option shall continue to become exercisable in accordance with the preceding sentence and may be exercised until the Option expires in accordance with the first sentence of this Section 2. Accordingly, if the Optionee is removed for Cause, he or she may continue to exercise the Option until the Option expires in accordance with the first sentence of this Section 2, but only to the extent that (a) the Option became exercisable prior to the date of such removal and (b) it was not previously exercised. Notwithstanding anything to the contrary in this Section 2, in the event one of the events specified in Section 8.05(d)(i), (ii), (iii) or (iv) of the Plan occurs, the provisions of such Section 8.05(d) shall determine when the Option becomes exercisable, when it may be exercised and when it expires.
Term and Exercise. Buyer may exercise the Option at any time up to 5:00 p.m., New York City time on January 16, 2004 (the "Termination Date") by delivery to Seller of written notice of its exercise of the Option, together with its check for the full Purchase Price (as defined below). Within 5 business days following exercise of the Option, Seller shall deliver to Buyer certificates for the Shares, duly exercised for transfer, at which time the closing of the purchase of the Shares from Seller shall occur (the "Closing"). The date of the Closing is referred to herein as the "Closing Date."
Term and Exercise. (a) This option is fully vested on the date of grant and shall be exercisable beginning one year from the date of grant, and thereafter may be exercised in full or in part at any time or from time to time during the term of the option, subject to the provisions of Section 3 hereof.
Term and Exercise. The Holder shall have the right, at any time or from time to time on or after the Commencement Date but not later than the Expiration Date, to give notice to the Sellers, of the purchase of all, but not fewer than all, the Shares, upon written notice (the "Option Exercise Notice") given to the Sellers on one occasion; provided, however, that such right to exercise this Option is conditioned upon all Other Holders simultaneously providing an Option Exercise Notice under the Other Options and closing the purchase and sale under the Other Options on the same date, unless Y&I waive this condition as to this Option and/or either or both of the Other Options.
