Vesting and Term of Option. This Section 2.2 is subject to the provisions of the Plan and the other provisions of this Agreement.
Vesting and Term of Option. (a) The Option may not be exercised prior to the one year anniversary date of the Grant Date. Commencing on the first anniversary of the Grant Date, the Option may be exercised by the Participant prior to its termination in cumulative annual installments as follows: Date Percentage of Shares as to which Option is Exercisable the ____ anniversary of the Grant Date __% the ____ anniversary of the Grant Date __% the ____ anniversary of the Grant Date __% the ____ anniversary of the Grant Date __% the ____ anniversary of the Grant Date __% The Option shall in all events terminate on_____________, 20__ or such earlier date as prescribed herein.
Vesting and Term of Option. This Section 2.2 is subject to the provisions of the Plan and the other provisions of this Agreement and as otherwise provided in a written employment agreement between the Company or an Affiliate and the Optionee.
Vesting and Term of Option. (a) The Option may not be exercised prior to , 20 . Commencing on , 20 , the Option may be exercised by Participant prior to its termination in cumulative annual installments as follows: Date Percentage of Shares as to which Option is Exercisable , 20 % , 20 % , 20 % , 20 % , 20 % The Option shall in all events terminate on , 20 or such earlier date as prescribed herein.
Vesting and Term of Option. This option shall vest (become exercisable) and remain exercisable only in accordance with Exhibit A attached hereto.
Vesting and Term of Option. The Optioned Shares shall be exercisable during the term of this Option Agreement but only on the terms hereof and pursuant to the following exercise schedule:
Vesting and Term of Option. (a) The Option may not be exercised prior to . Commencing on December , the Option may be exercised by Participant prior to its termination in cumulative annual installments as follows: Date Percentage of Shares as to which Option is Exercisable 25% 50% 75% 100% The Option shall in all events terminate on or such earlier date as prescribed herein.
Vesting and Term of Option. 2.2.1 Subject to the provisions of the Plan and the other provisions of this Agreement, this Option shall vest and become exercisable on the first anniversary of the Date of Grant (the “Vesting Date”) subject to the Grantee’s Continuous Status as an Employee, Director or Consultant through the Vesting Date.
Vesting and Term of Option. (a) If Participant remains continuously employed by the Company or an Affiliate through January 31, 2021 (the “Measurement Date”), the Option Shares that vest and become exercisable pursuant to this Section 2 will be determined by reference to the Company’s 2020 Fiscal Year Adjusted EBITDA, as provided in the table below: 2020 Fiscal Year Adjusted EBITDA % of Option Shares Vested Below $___ million 0% $___ million (threshold) 50% $___ million (target) 100% $___ million or above (superior maximum) 150%* Note: Performance between threshold and superior maximum will be calculated on a pro rata basis. Payout is calculated for each incremental increase in performance (straight line interpolation). Fractional vested Shares will be rounded down to the nearest whole Share. *Maximum award is subject to the annual award limitation of 500,000 Shares under the X.X. Xxxxxx Company 2016 Master Incentive Plan. For purposes of this Section 2(a), “Adjusted EBITDA” means Adjusted Operating Income + Depreciation + Amortization. Operating Income adjustments include items as publicly disclosed in the Company’s quarterly earnings release. The Option shall in all events terminate on_____________, 20__ or such earlier date as prescribed herein.
Vesting and Term of Option. Your Option will vest over three years, as long as you remain continuously employed by the Company or an Affiliate from the Grant Date until each vesting date or if you die or Retire before any such date. This means that you may exercise the first one-third of the shares subject to this Option on or after the first anniversary of the Grant Date, the second one-third of these shares on or after the second anniversary of the Grant Date, and the remaining one-third of these shares on or after the third anniversary of the Grant Date, assuming continued employment. However, you will be required to accept this Option as well as this Agreement before being permitted to exercise the Option. This Option will expire on and may not be exercised after the earlier of the tenth anniversary of the Grant Date or the 90th day following the end of your 3M employment, except in cases of Retirement, death, disability, Disqualifying Termination or a termination in connection with which you execute a written release of employment-related claims in favor of the Company that provides (with the approval of the Company) for the nonforfeiture of stock options (but only to the extent this Option has vested prior to the date of the termination of your employment).
