Common use of Vesting of Right to Exercise Option Clause in Contracts

Vesting of Right to Exercise Option. This Option shall become exercisable as to portions of the Shares as follows: (a) this Option shall not be exercisable with respect to any of the Shares until ____________ (the “FIRST VESTING DATE”); (b) if Participant has continuously provided services to the Company or any Subsidiary, Parent or Affiliate of the Company from the Date of Grant through the First Vesting Date and has not been Terminated on or before the First Vesting Date, then on the First Vesting Date this Option shall become exercisable as to two and eight one-hundredths percent (2.08%) of the Shares; (c) thereafter, so long as Participant continuously provides services to the Company or any Subsidiary, Parent or Affiliate of the Company and is not Terminated, upon the expiration of each successive full month after the First Vesting Date, this Option shall become exercisable as to an additional two and eight one-hundredths percent (2.08%) of the Shares; provided that this Option shall in no event ever become exercisable with respect to more than 100% of the Shares.

Appears in 1 contract

Samples: Stock Option Agreement (S1 Corp /De/)

AutoNDA by SimpleDocs

Vesting of Right to Exercise Option. This Option shall ----------------------------------- become vested and exercisable as to portions of the Shares as follows: (a) this Option shall not vest nor be exercisable with respect to any of the Shares until ____________ (the "FIRST VESTING DATE"); (b) if Participant Optionee has continuously provided services to the Company or any Subsidiary, Subsidiary or Parent or Affiliate of the Company from the Date of Grant through the First Vesting Date and has not been Terminated on or before the First Vesting Date, then on the First Vesting Date this Option shall vest and become exercisable as to two and eight one-hundredths twenty five percent (2.0825%) of the Shares; and (c) thereafterthereafter on the first day of each month, so long as Participant Optionee continuously provides services to the Company or any Subsidiary, Subsidiary or Parent or Affiliate of the Company and is not Terminated, upon the expiration of each successive full month after the First Vesting Date, this Option shall vest and become exercisable as to an additional two and eight one-hundredths percent 1/48th (2.08%0.02833333) of the Shares; provided that this Option -------- shall in no event ever vest and become exercisable with respect to more than 100% of the Shares.

Appears in 1 contract

Samples: Stock Option Agreement (Tsi International Software LTD)

Vesting of Right to Exercise Option. This Option shall become exercisable as to portions of the Shares as follows: (a) this Option shall not be exercisable with respect to any of the Shares until ____________ [VESTDATE2] (the “FIRST VESTING DATE”"First Vesting Date"); (b) on the First Vesting Date this Option shall become exercisable as to 25% of the Shares, if Participant has continuously provided services to the Company or any Subsidiary, Subsidiary or Parent or Affiliate of the Company from the Date of Grant through the First Vesting Date Data and has not been Terminated on or before the First Vesting Date, then on the First Vesting Date ; (c) this Option shall become exercisable as to two and eight one-hundredths percent (2.08%) an additional 2.083% of the Shares; (c) thereafter, so long as Participant continuously provides services to the Company or any Subsidiary, Parent or Affiliate of the Company and is not Terminated, Shares upon the expiration of each successive full month after the First Vesting Date, this Option shall become exercisable so long as Participant continuously provides services to an additional two and eight one-hundredths percent (2.08%) the Company or any Subsidiary or Parent of the SharesCompany and is not Terminated; provided PROVIDED that this Option shall in no event ever become exercisable with respect to more than 100% of the Shares.

Appears in 1 contract

Samples: Stock Option Agreement (Integrated Systems Inc)

AutoNDA by SimpleDocs

Vesting of Right to Exercise Option. This Option shall become exercisable as to portions of the Shares as follows: (a) this Option shall not be exercisable with respect to any of the Shares until ____________ one year after the Date of Grant (the "FIRST VESTING DATE"); (b) if Participant has continuously provided services to the Company or any Subsidiary, Parent or Affiliate of the Company from the Date of Grant through the First Vesting Date and has not been Terminated on or before the First Vesting Date, then on the First Vesting Date this Option shall become vested and exercisable as to two and eight one-hundredths percent (2.08%) 25% of the Shares; and (c) thereafter, so long as Participant continuously provides services to the Company or any Subsidiary, Parent or Affiliate of the Company and is not Terminated, upon at the expiration end of each successive full succeeding month after the First Vesting Date, this Option shall will become vested and exercisable as to an additional two and eight one-hundredths percent (2.08%) 2.08333% of the Shares; provided that this Option shall in no event ever become exercisable Shares until the Shares are vested with respect to more than 100% of the Shares.

Appears in 1 contract

Samples: Stock Option Agreement (Symantec Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.