Exercise of Vested Options. The Grantee may exercise Vested Options and purchase the Option Shares covered thereby at any time and from time to time on or after the Vesting Date for such Options provided in Section 3.1 until the date on which such Options terminate or otherwise expire pursuant to Article IV or upon or in connection with a Change in Control if applicable under the Equity Incentive Plan, subject to compliance with the provisions hereof, provided that if the Grantee elects to exercise any Vested Options prior to an Initial Public Offering, (i) the Grantee shall be required to execute and deliver a Management Shareholders Agreement (or have previously executed and delivered a Management Shareholders Agreement, the provisions of which will automatically apply to Option Shares purchased by the Grantee) and (ii) the purchase of Option Shares upon such exercise must be in compliance with the Management Shareholders Agreement.
Exercise of Vested Options. For each Key Executive, all vested options shall be exercised prior to the Merger by tendering existing Wellsford Common Shares in payment of the exercise price. The tendered shares shall be valued at $27.50 per share for purposes of payment of the exercise price, regardless of their actual value.
Exercise of Vested Options. 9.1. Subject to the terms of the Agreement, the Vested Options may be exercised, in whole or in part, and in one or more installments, by the Beneficiary or, in case of his/her disability, death or disappearance, by his/her legal or testamentary heirs or by his/her executor or personal representative or guardian, by delivering to the Company the Shares Request Form stating the number of Opted Shares to be subscribed, accompanied by full payment to the Company of the Exercise Price.
Exercise of Vested Options. In the event of termination for any reason, Employee’s stock vested options shall continue to be exercisable for a period of one year.
Exercise of Vested Options. At the conclusion of each Vesting Period, the Option may, from time to time, be exercised in relation to part or all of the Ordinary Shares allocated for that period and, during each of the Vesting Periods, the Option may be exercised in relation to all or part of the Ordinary Shares allocated for any previously concluded Vesting Period with respect to which the Option was not fully exercised. After the end of the Vesting Periods and during the balance of the term of the Option pursuant to Section 9, the Option may be exercised, from time to time, in relation to all or part of the Ordinary Shares which have vested and have not at that time been exercised and which remain subject to the Option. Notwithstanding the aforesaid, an Option may be exercised only if, subject to the provisions of Section 12, at the time of any exercise of the Option the grantee has continued to be employed by or provide services to the Company, a Related Company or a Foreign Subsidiary from the date of the grant thereof until the date of exercise.
Exercise of Vested Options. An Option may not be exercised pursuant to this SECTION 3 unless the holder was entitled to exercise the Option at the time of such exercise.
Exercise of Vested Options. An Option may not be exercised pursuant to this Section 3 unless the holder was entitled to exercise the Option at the time of such exercise.
Exercise of Vested Options. You are vested in an option to purchase certain shares of the common stock of the Company (the “Options”) in accordance with the grants made to you by the Company. The Options are exercisable as set forth in the option agreement(s) under which the options were granted.
Exercise of Vested Options. DK may exercise any vested Options until the earlier of (a) one year following the date that DK ceases to be a member of the Board, and (b) the applicable expiration date of such Option. The exercise of any vested Options by DK may, at the election of DK, be settled on a net basis with a number of shares withheld having a Fair Market Value on the date of exercise of each such Option sufficient to cover in full both the exercise price and withholding taxes then due.
Exercise of Vested Options. The Parties agree that the latest exercise date of the Vested Options shall be September 30, 1999. Any Vested Options which are not exercised
