Exercisable Date definition
Examples of Exercisable Date in a sentence
To extent permitted by Section 409A of the Code, a change in a scheduled Exercisable Date shall not be deemed to materially adversely affect your rights under this Award Agreement and shall not require your written consent.
For purposes of this Award, the “Pro-Rata Portion” shall mean the total number of Options covered by this Award multiplied by a fraction, the numerator of which is the total number of complete months which have elapsed between the Grant Date and the date of termination and the denominator of which is the total number of months between the Grant Date and the last Exercisable Date, less the number of Options that became exercisable prior to the date of termination.
The Stock Option shall become exercisable as of the date set forth above in Column 6 according to the percentage shown for such date ("Exercisable Date"); provided that at all times during the period between Date of Grant and the Exercisable Date the Optionee has been employed by the Company or an Affiliate.
For purposes of this Award, the “Pro- Rata Portion” shall mean the total number of Shares subject to the Option multiplied by a fraction, the numerator of which is the total number of complete months which have elapsed between the Grant Date and the date of termination and the denominator of which is the total number of months between the Grant Date and the last Exercisable Date, less the number of Shares with respect to which the Option previously became exercisable.
Exercisable Dates/ Expiration Date This award is intended and expected to become exercisable on the “Exercisable Dates” set forth in your Award Agreement, provided that you are continuously employed by the Firm from the date of grant through the relevant Exercisable Date or you meet the requirements to allow your award to remain outstanding upon termination of employment as described below.
Cumulative Number of Option Shares Exercisable Date 15,000 November 5, 2013 30,000 November 5, 2014 45,000 November 5, 2015 60,000 November 5, 2016 75,000 November 5, 2017 The notice of exercise of this Option shall be in the form prescribed by the Committee and directed to the address set forth in Section 10 below.
Exercisable Dates/ Expiration Date This award is intended and expected to become exercisable on the “Exercisable Dates” set forth in your Award Agreement, provided that you are continuously employed by the Firm through the relevant Exercisable Date or you meet the requirements to allow your award to remain outstanding upon termination of employment as described below.
The intervening period between the Exercisable Date and the Expiry Date will be the “Exercise Period”.
If the Participant is employed continuously as an Employee at all times prior to any of the exercisable dates specified on the Notice (the "Exercisable Dates"), then the Participant shall be entitled, subject to the applicable provisions of the Plan and this Option Agreement having been satisfied, to exercise the Stock Option and purchase on or after the applicable Exercisable Date, on a cumulative basis, the number of shares of Stock as set forth on the Notice.
The Option will become exercisable in installments, with each installment becoming exercisable on the "First Exercisable Date" shown below, if the Participant has remained in continuous Service until that date.