Common use of Vesting of the Option Shares Clause in Contracts

Vesting of the Option Shares. The option to purchase the Option Shares shall vest in the Optionee based on the gross revenue of the Corporation during the period of April 1, 1997 till the Vesting Expiration Date (as hereinafter defined) (the "Vesting Period"). For each $1,000,000 of cumulative gross revenue of the Corporation during the Vesting Period, 20% of the option granted herein shall vest. There shall be no fractional vesting of options. Notwithstanding anything herein to the contrary, if the Corporation shall sell substantially all of its assets or merge with another company or substantially all of the stock of the Corporation is sold to a third party, then the option grated herein shall fully vest immediately. The term "Vesting Expiration Date" shall mean the earlier of:

Vesting of the Option Shares. The option to purchase the Option Shares shall vest in the Optionee based on the gross revenue of the Corporation during the period of April 1, 1997 till the Vesting Expiration Date (as hereinafter defined) (the "Vesting Period"). For each $1,000,000 of cumulative gross revenue of the Corporation during the Vesting Period, 20% of the option granted herein shall vest. There shall be no fractional vesting of options. Notwithstanding anything herein to the contrary, if the Corporation shall sell substantially all of its assets or merge with another company or substantially all of the stock of the Corporation is sold to a third party, then the option grated granted herein shall fully vest immediately. The term "Vesting Expiration Date" shall mean the earlier of: