Vesting of Right to Exercise. Subject to Section 3, the Participant's right to exercise the Option shall vest in accordance with the table attached hereto as Attachment A (the "Vesting Schedule"), with the percentage set forth in any row of the right hand column of the Vesting Schedule being the maximum percentage of the Shares which are fully vested shares (the "Vested Shares"), on a cumulative basis, at any time during the period beginning on the corresponding date set forth in the left hand column of the Vesting Schedule, so long as such period has been completed, and, for all but the last row of the Vesting Schedule, ending on the day immediately preceding the date set forth in the left hand column of the next row of the Vesting Schedule. Notwithstanding anything to the contrary herein, (i) in the event of a Change in Control (as defined below) that is effective during the Participant's employment with the Company, this Option may be exercised immediately prior to such Change in Control with respect to all of the Shares that are the subject of this Option, and (ii) in the event that the Participant's employment is involuntarily terminated by the Company without Cause (as defined below), this Option may be exercised with respect to all of the Shares that are the subject of this Option. A "Change of Control" shall mean and include the following:
Vesting of Right to Exercise. As of the Date of Grant, this Option may be exercised with respect to all of the Shares that are the subject of this Option.
Vesting of Right to Exercise. During the first year commencing on the date of grant, the Option shall not be exercisable to any extent. Commencing on the first day following the first anniversary of the date of grant and during the ensuing 91 day period, the Option may be exercised for not more than one-fourth (25%) of the Shares. Thereafter, commencing on the first day following the end of the prior 91 day period and during each of the ensuing twelve 91 day periods, the Option may be exercised (to the extent not already exercised) for not more than an additional one-sixteenth (6.25%) of the Shares. After the fourth anniversary of the date of grant, for the duration of the Option, the Option may be exercised in full.
Vesting of Right to Exercise. This Warrant is immediately exercisable and may be exercised in whole or in part by the Holder at any time from the date hereof until the Expiration Date.
Vesting of Right to Exercise. Optionee’s right to exercise this option shall vest one hundred percent (100%) after one year.
Vesting of Right to Exercise. During the period commencing on the date of grant and continuing until the date that is one year from the date of grant (the "Anniversary Date"), the Option shall not be exercisable to any extent. Commencing on the first day following the Anniversary Date and during the ensuing month, the Option may be exercised for not more than one-quarter (1/4) of the Shares. Thereafter, on the last day of such ensuing month and on the last day of each of the thirty-six (36) months thereafter, the Option may be exercised (to the extent not already exercised) for not more than an additional one-forty-eighth (1/48) of the Shares. Thereafter, and for the duration of the Option, the Option may be exercised in full. [In the event that there is a "Change of Control" of the Company (as such term is defined in the Plan), then, immediately prior to the consummation of such Change of Control, the Option shall become exercisable for such additional number of Shares as shall be equal to the number of Shares which would have vested over the next twelve (12) months but for the occurrence of the Change of Control. Such number of Shares for which the Option shall become exercisable by reason of a Change in Control shall be in addition to the number of Shares for which the Option is then exercisable as calculated pursuant to the first sentence of this Section 4.]
Vesting of Right to Exercise. During the first year commencing on the date of grant, the Option shall not be exercisable to any extent. Commencing on the first day following the first anniversary of the date of grant and during the ensuing 91 day period, the Option may be exercised for not more than one-fourth (25%) of the Shares. Thereafter, commencing on the first day following the end of the prior 91 day period and during each of the ensuing twelve 91 day periods, the Option may be exercised (to the extent not already exercised) for not more than an additional one-sixteenth (6.25%) of the Shares. After the fourth anniversary of the date of grant, for the duration of the Option, the Option may be exercised in full. Upon any Change of Control (as hereinafter defined), all unvested Shares shall become fully vested and the Option may thereafter be immediately exercised. For purposes of this Agreement, "Change of Control" shall mean and include any of the following:
Vesting of Right to Exercise. The right to exercise the Options shall vest over a three-year period, with one-third of the Options vesting on the date of this Agreement, 1/3 vesting on the first anniversary of this Agreement and 1/3 vesting on the second anniversary of this Agreement. If, however, the employment of the Optionee is terminated by the Company for Cause or in case of the death or Disability of the Optionee pursuant to the Employment Agreement, then all Options which have not vested on or prior to the date of such termination shall not vest and shall be automatically forfeited by the Optionee without any further action. Vested options shall be exercisable, in whole or in part, until the Option Expiration Date, regardless of whether the Optionee remains an employee, officer or director of the Company during that period. Notwithstanding the foregoing, the Options shall automatically vest upon a Change in Control, as that term is defined in the Employment Agreement.
Vesting of Right to Exercise. During the period commencing on the date of grant and continuing until the date that is one year from the date of grant (the "Initial Vesting Date"), the Option shall not be exercisable to any extent. Commencing on the first day following the Initial Vesting Date and during the ensuing month, the Option may be exercised for not more than one-quarter (1/4) of the Shares. Thereafter, on the last day of such ensuing month and on the last day of each of the thirty-six (36) months thereafter, the Option may be exercised (to the extent not already exercised) for not more than an additional one-forty-eighth (1/48) of the Shares. Thereafter, and for the duration of the Option, the Option may be exercised in full.
Vesting of Right to Exercise. The right to exercise the Options shall vest over a three-year period, with one-third of the Options vesting on the first, second and third anniversaries of this Agreement. If, however, the employment of the Optionee is terminated by the Company for Cause or in case of the death or Disability of the Optionee pursuant to the Employment Agreement, then all Options which have not vested on or prior to the date of such termination shall not vest and shall be automatically forfeited by the Optionee without any further action. Vested options shall be exercisable, in whole or in part, until the Option Expiration Date, regardless of whether the Optionee remains an employee, officer or director of the Company during that period. Notwithstanding the foregoing, the Options shall automatically vest: (i) upon a Change in Control, and (ii) if Optionee's employment with the Company is terminated by Optionee for Good Reason.
