Vesting and Right to Exercise. (i) The Option shall vest and become exercisable with respect to one-fourth (1/4th) of the Shares subject to the Option on the first anniversary of the Vesting Commencement Date set forth in the signature page of this Agreement, and one-sixteenth (1/16th) of the Shares subject to the Option shall vest at the end of each successive calendar quarter over the remaining three-year period, until all the Shares have vested, subject to the Optionee’s continuous employment with the Company. Subject to the provisions of subparagraphs (ii) and (iii) below, the Optionee can exercise any portion of the Option which has vested until the expiration of the Option term.
Vesting and Right to Exercise. (i) The Option hereby granted shall vest and become exercisable as to the following schedule: a) 1/3 of the shares subject to this Option, shall vest and become exercisable on the award date; b) 1/3 of the shares subject to this Option, shall vest and become exercisable on the first anniversary of the award date; c) 1/3 of the shares subject to this Option, shall vest and become exercisable on the second anniversary of the award date. If there should occur a “change of control” of the Company, as defined below, then the Option shall immediately vest and become exercisable in full. For purposes of the foregoing provision, a “change in control” means the occurrence of any of the following:
Vesting and Right to Exercise. (i) The Option shall vest (and become exercisable) with respect to _______________________ of the Shares subject to the Option at the end of each of the first ______________ (_____) years from __________________. Subject to the provisions of subparagraphs (ii) and (iii) below' the Optionee can exercise any portion of the Option which has vested until the expiration of the Option term.
Vesting and Right to Exercise. (i) The Option shall vest as set forth in Exhibit A. Subject to the provisions of subparagraphs (ii) and (iii) below, the Optionee can exercise any portion of the Option which has vested until the expiration of the Option term.
Vesting and Right to Exercise. (i) The Option hereby granted shall vest and become exercisable in its entirety on the Grant Date.
Vesting and Right to Exercise. Except as otherwise provided herein, and prior to the termination of the Option (as provided in Section 6), the Option shall be vested: (i) on the date that is three months after its date of grant, for 25% of the shares of Common Stock subject to such Option on its date of grant, (ii) on the date that is six months after its date of grant, for an additional 25% of the shares of Common Stock subject to such Option on its date of grant, (iii) on the date that is nine months after its date of grant, for an additional 25% of the shares of Common Stock subject to such Option on its date of grant and (iv) on the date that is twelve months after its date of grant, for an additional 25% of the shares of Common Stock subject to such Option on its date of grant. Except as otherwise provided herein, the Option shall be exercisable, to the extent the Option is vested, not earlier than January 1, 2008 and not later than the Option Expiration Date; provided that if a Change in Control occurs prior to January 1, 2008, and such Change in Control is also a “change in control event” within the meaning of Section 409A of the Code, the Option shall either be (i) converted into a right to receive a cash payment pursuant to Section 5.8(a)(2) of the Plan or (ii) be exercisable during the period beginning on the date of such Change in Control and ending on the later to occur of (A) the last day of the calendar year in which such Change in Control occurs or (B) the date that is 2 1/2 months after the date of such Change in Control.
Vesting and Right to Exercise. (i) The Option shall vest thirty-six (36) months from the date of this Option Agreement and become fully exercisable at that time with respect to all 83,333 of the Shares subject to the Option. Subject to the provisions of subparagraphs (ii) and (iii) below, the Optionee can exercise any portion of the Option that has vested until the expiration of the Option term.
Vesting and Right to Exercise. (i) This Option shall vest and become exercisable, cumulatively, to the extent of one-fourth (1/4) of the Shares on each of the first four anniversaries of ____________, 19__, provided that the Optionee continues to serve as a director or employee of the corporation during such period. Subject to the provisions of subparagraph (ii) below, the Optionee can exercise any portion of this Option which has vested until the Option term expires.
Vesting and Right to Exercise. The SOSARs will vest and become exercisable in installments as follows, subject to the Participant’s continued employment with the Company from the Grant Date until each applicable vesting date, except as otherwise provided in Section 4: On the first anniversary of the Grant Date (the “First Vesting Date”), one-fourth of the SOSARs will vest and become exercisable. An additional one-fourth of the SOSARs will vest and become exercisable on each of the second, third, and fourth anniversaries of the First Vesting Date. [Modify vesting as appropriate.]
Vesting and Right to Exercise. (i) The Option shall vest immediately upon the Date of Grant and become exercisable during its term in accordance with the provisions of Article VI of the Plan. Subject to the provisions of subparagraphs (ii) and (iii) below, the Optionee may exercise this Option as to any portion which has vested until the expiration of the Option Term as set forth in paragraph 7.
