TERMS OF OPTION AND EXERCISE OF OPTION Sample Clauses

TERMS OF OPTION AND EXERCISE OF OPTION. You may exercise this option during a calendar year only to the extent that the aggregate fair market value (determined at the times the options are granted) of the stock that may be acquired pursuant to this option (or portion thereof ) and all other incentive stock options granted after 1986 that are first exercisable by you during the calendar year does not exceed $100,000 (taking into account all incentive stock options under any stock option plan of the Company or any of its affiliates or any predecessor of any such corporation). If permitted in regulations promulgated by the Treasury Department or rulings of the Internal Revenue Service, you may choose, among the incentive stock options granted under the Plan after 1986 that are otherwise first exercisable by you in a calendar year, those options you wish to exercise subject to the $100,000 limitation. For example, you may decide to exercise the options that have the lowest exercise prices. If such a choice is not permitted (as determined by the Company in its sole discretion), you must exercise incentive stock options (granted after 1986) that became first exercisable in a calendar year without regard to the $100,000 limitation, in the order in which they were granted to you (up to the $100,000 limit). If you choose not to exercise an option that is first exercisable in a calendar year under the $100,000 limitation, you may exercise that option in subsequent years without regard to the $100,000 limitation. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of approximately (120) months from the granting date as follows:
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TERMS OF OPTION AND EXERCISE OF OPTION. Subject to the provisions of Paragraph 4 and this Paragraph 3, this option shall vest and become exercisable as to the following shares on the following dates: Number of Months Number Following Grant Of Shares --------------- --------- Any portion of this option that you do not exercise shall accumulate and can be exercised by you any time prior to the expiration of _______________ (_____) months from the granting date. This option may be exercised by delivering to the Chief Financial Officer of the Company payment in full of the Exercise Price for the number of Shares being purchased in cash or by certified check or official Company check or the equivalent thereof acceptable to the Company or in Shares of Company common stock, together with a written notice in a form satisfactory to the Company, signed by you specifying the number of Shares you then desire to purchase and the time of delivery thereof, which shall not be less than five (5) days and not more than thirty (30) days after the giving of such notice unless an earlier or later date is mutually agreed upon. (Common Stock utilized in full or partial payment of the Exercise Price shall be valued at its market value (determined in accordance with the Plan) at the date of exercise.) At such time the Company shall, without transfer or issue tax to you (or such other person entitled to exercise this option), deliver to you (or such person entitled to exercise this option) at the principal office of the Company, or such other place as shall be mutually acceptable, a certificate or certificates for such shares dated the date of this option was validly exercised; provided, however, that the time of such delivery may be postponed by the Company for such period as may be required for it with reasonable diligence to comply with any requirements of law. No fractional shares shall be issued or delivered. As a holder of this option, you shall have the rights of a shareholder with respect to the Shares subject to this option only after such Shares shall have been issued and delivered to you upon the exercise of this option.
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TERMS OF OPTION AND EXERCISE OF OPTION. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of one hundred twenty (120) months from the granting date as follows:
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TERMS OF OPTION AND EXERCISE OF OPTION. Subject to the provisions of Section 4 and this Section 3, this option shall vest and become exercisable as to the following Shares on the following dates: Number of Months Number
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TERMS OF OPTION AND EXERCISE OF OPTION. Subject to the provisions of Paragraphs 4 and 7 below and this Paragraph 3, this option can be exercised by you at any time during a period of one hundred twenty (120) months from the granting date as follows:
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TERMS OF OPTION AND EXERCISE OF OPTION. Subject to the provisions of Section 4 and this Section 3, this option shall vest and become exercisable as to the following Shares on the following dates, subject to your continuous service with the Company: Anniversary of Award Date Options Vesting Total Percentage of Shares as to which Options May be Exercised 1 year 20% 20% 2 years 20% 40% 3 years 20% 60% 3 years 20% 80% 5 years 20% 100% Any portion of this option that you do not exercise will accumulate and can be exercised by you any time after vesting and before the 10th anniversary of the Award Date (the “Termination Date”). Any unexercised portion of this option will expire on Termination Date. This option may be exercised by delivering to the Chief Financial Officer of the Company the following items:
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TERMS OF OPTION AND EXERCISE OF OPTION. The option is not exercisable while there is outstanding (within the meaning of Section 422A of the Internal Revenue Code of 1986, as amended (the "Code")) any incentive stock option which was granted to you before the granting of this option, to purchase stock of the Bank or in a corporation which (at the time of the granting of such option) is a parent or subsidiary corporation (as defined for purposes of Section 422A of the Code) of the Bank, or in a predecessor corporation of any of such corporations. Subject to the provisions of Paragraph 4 below and this Paragraph 3, this option can be exercised by you at any time during a period of ___________ (____) months from the granting date as follows:
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TERMS OF OPTION AND EXERCISE OF OPTION. Subject to the provisions of Section 4 and this Section 3, this option shall vest and become exercisable as to the following Shares on the following dates: Number of Months Following Grant
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TERMS OF OPTION AND EXERCISE OF OPTION. Subject to the provisions of Paragraphs 4 and 5 below and this Paragraph 3, this option shall vest and become exercisable as to the following shares on the following dates.
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Related to TERMS OF OPTION AND EXERCISE OF OPTION

  • Grant and Exercise of Option Provided that (i) no default has occurred and is then continuing (ii) the creditworthiness of Tenant is then reasonably acceptable to Landlord and (iii) Tenant originally named herein or a Permitted Transferee remains in possession of and has been continuously operating in the entire Leased Premises throughout the term immediately preceding the Extension Term (as defined below), Tenant shall have the option to extend the Lease Term for two (2) additional periods of five (5) years each (the “Extension Term(s)”). Each Extension Term shall be upon the same terms and conditions contained in the Lease except (x) this provision giving two (2) extension options shall be amended to reflect the remaining options to extend, if any, and (y) any improvement allowances or other concessions applicable to the Leased Premises under the Lease shall not apply to the Extension Term, and (z) the Minimum Annual Rent shall be adjusted as set forth below (the “Rent Adjustment”). Tenant shall exercise each option by (i) delivering to Landlord, no later than six (6) months prior to the expiration of the preceding term, written notice of Tenant’s desire to extend the Lease Term. Tenant’s failure to timely exercise such option shall be deemed a waiver of such option and any succeeding option. Landlord shall notify Tenant of the amount of the Rent Adjustment no later than ninety (90) days prior to the commencement of the Extension Term. Tenant shall be deemed to have accepted the Rent Adjustment if it fails to deliver to Landlord a written objection thereto within five (5) business days after receipt thereof. If Tenant properly exercises its option to extend, Landlord and Tenant shall execute an amendment to the Lease (or, at Landlord’s option, a new lease on the form then in use for the Building) reflecting the terms and conditions of the Extension Term within thirty (30) days after Tenant’s acceptance (or deemed acceptance) of the Rent Adjustment.

  • Term and Exercise of Option (a) The term of this Option shall commence on the Grant Date set forth above and shall continue until the Expiration Date set forth above, unless earlier terminated as provided herein.

  • Vesting and Exercise of Option The Option shall vest and become exercisable during its term in accordance with the following provisions:

  • Exercise of Option The Over-allotment Option granted pursuant to Section 1.2.1 hereof may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Units within 45 days after the effective date (“Effective Date”) of the Registration Statement (as defined in Section 2.1.1 hereof). The Underwriters will not be under any obligation to purchase any Option Units prior to the exercise of the Over-allotment Option. The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company by the Representative, which must be confirmed in accordance with Section 10.1 herein setting forth the number of Option Units to be purchased and the date and time for delivery of and payment for the Option Units (the “Option Closing Date”), which will not be later than five (5) full Business Days after the date of the notice or such other time and in such other manner as shall be agreed upon by the Company and the Representative, at the offices of EG&S or at such other place (including remotely by facsimile or other electronic transmission) as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Option Units does not occur on the Closing Date, the Option Closing Date will be as set forth in the notice. Upon exercise of the Over-allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions set forth herein, the Underwriters will become obligated to purchase, the number of Option Units specified in such notice.

  • Manner of Exercise of Option (a) To the extent that the right to exercise the Option has accrued and is in effect, the Option may be exercised in full or in part by giving written notice to the Company stating the number of Shares as to which the Option is being exercised and accompanied by payment in full for such Shares. No partial exercise may be made for less than one hundred (100) full Shares of Common Stock. Payment shall be made in accordance with the terms of the Plan. Upon such exercise, delivery of a certificate for paid-up, non- assessable Shares shall be made at the principal office of the Company to the person exercising the Option, not less than thirty (30) and not more than ninety (90) days from the date of receipt of the notice by the Company.

  • Limitations on Exercise of Option Notwithstanding the foregoing Subsections, in no event may the Option be exercised, in whole or in part, after ten years following the Original Date of Grant, or after the occurrence of an event which results in termination of the Option under the Plan.

  • Time of Exercise of Option This Option shall be first exercisable as to 25% of the Shares on each of the first four anniversary dates of this Agreement. To the extent the Option is not exercised by the Optionee when it becomes exercisable, it shall not expire, but shall be carried forward and shall be exercisable, on a cumulative basis, until the Expiration Date, as hereinafter defined.

  • Method of Exercise of Option (a) Subject to the terms and conditions of this Agreement, the Option shall be exercisable by notice in the manner set forth in Exhibit A hereto (the "NOTICE") and provision for payment to the Corporation in accordance with the procedure prescribed herein. Each such Notice shall:

  • Method of Exercise of Options Optionee shall notify the Company by written notice sent by certified mail, return receipt requested, addressed to the Company's principal office, or by hand delivery to such office, as to the number of Shares which Optionee desires to purchase under the options, which written notice shall be accompanied by Optionee's check payable to the order of the Company for the full option price of such Shares. As soon as practicable after the receipt of such written notice, the Company shall, at its principal office, tender to Optionee a certificate or certificates issued in Optionee's name evidencing the Shares purchased by Optionee hereunder.

  • Vesting and Exercisability of Option The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.

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