Time Condition. Subject to Section 1(c) and Section 1(d) below, for Option Shares that have satisfied the Performance Vesting, one-third of such Option Shares shall satisfy the Time Condition upon each of the first three anniversaries of the Grant Date, provided, in each case, that the Optionee continues to have a Service Relationship with the Company at such time. For the avoidance of doubt, in the event that the Performance Vesting for any Option Shares has been satisfied after the Time Condition applicable to such Option Shares has been satisfied, such Option Shares shall be immediately exercisable upon the date that the Performance Vesting for such Option Shares is satisfied.
Appears in 2 contracts
Sources: Performance Based Non Qualified Stock Option Agreement (Plug Power Inc), Performance Based Non Qualified Stock Option Agreement (Plug Power Inc)