IN OPTION Sample Clauses

IN OPTION. The Option becomes vested as to twenty percent (20%) of the shares purchasable pursuant to the Option on the date that is one year after the Grant Date (the first "Anniversary Date"), if the Optionee has been providing services to the Company or any of its affiliates continuously from the date of grant to the Anniversary Date. Thereafter, so long as the Optionee's service has not been interrupted, the Option becomes vested as to an additional twenty percent (20%) of the shares subject to the Option after each of the next four Anniversary Dates. Service for this purpose includes service as an employee, director, advisor or consultant providing bona fide services to the Company or any of its affiliates. For purposes of this Stock Option Agreement, termination of service would not be deemed to occur if the Optionee, after terminating service in one capacity, continues to provide service to the Company or any of its affiliates in another capacity. Termination of service is sometimes also referred to herein as termination of employment or other relationship with the Company or any of its affiliates.

IN OPTION. The Option becomes vested as to twenty five percent (25%) of the shares purchasable pursuant to the Option on the first anniversary of the first day of the month subsequent to Optionee's commencement of employment (the "Anniversary Date"), if the Optionee has been providing services to the Company or any of its affiliates continuously from the Grant Date to the Anniversary Date. Thereafter, so long as the Optionee's service has not been interrupted, the Option becomes vested as to an additional 1/48th of the shares subject to the Option on the first day the next 36 succeeding months. Service for this purpose includes service as an employee, director, advisor or consultant providing bona fide services to the Company or any of its affiliates. Any vesting limitation may be rescinded, modified or waived by the Committee, in its sole discretion, at any time and from time to time after the Grant Date of the Option, so as to accelerate the time at which the Option would be vested. If the Optionee terminates employment or other relationship with the Company by reason of "permanent and total disability" (within the meaning of Section 22(e)(3) of the Code), the Option shall continue to vest for a period of one year after such termination of employment or service, subject to earlier termination of the Option as provided in Section 5.1

IN OPTION. BUYER is granted the option, exercisable no later than December 1, 1997, to trade in Gulfstream IV Aircraft, Serial Number 1042 (the "Trade-In Aircraft"), at the Scheduled Preliminary Acceptance Date, for a Trade-In Value of EIGHTEEN MILLION FIVE HUNDRED THOUSAND U.S. DOLLARS ($18,500,000.00), pursuant to the terms and conditions of the Aircraft Trade-In Agreement attached at Exhibit A. The Trade-In Value shall be applied to offset any payment or appropriate part of any payment owed at the Scheduled Preliminary Acceptance Date. Prior to the option exercise date, GULFSTREAM is the exclusive representative for the Trade- In Aircraft, except as provided in the Remarketing Agreement, and will market the Trade-In Aircraft at any price acceptable to BUYER pursuant to the terms of the attached Remarketing Agreement at no charge to BUYER other than reimbursement of GULFSTREAM expenses as defined in the Remarketing Agreement. Should the Trade-In Aircraft be resold by GULFSTREAM prior to the Scheduled Delivery Date, then BUYER shall be entitled to receive, in addition to the above Trade-In Value, an additional amount, if any, by which the resale price exceeds the Trade-In Value, after deduction for GULFSTREAM's reasonable and customary expenses associated with the resale, which may include: Advertising and marketing expenses; A Standard Pre-Owned Aircraft Warranty reserve; Paint and training reserves or expenses; GULFSTREAM internal sales force commission expenses; Third party brokerage commissions, if any; Prepurchase inspection and discrepancy expenses; Non-reimbursable aircraft demonstration expenses; Aircraft modifications which are included in the resale price; and Any other expenses agreed to by the parties.

IN OPTION. The Option becomes vested as to _____ percent of the shares purchasable pursuant to the Option on _____________ (the first "Anniversary Date"), if the Optionee has been providing services to the Company or any of its affiliates continuously from the date of grant to the Anniversary Date. Thereafter, so long as the Optionee's service has not been interrupted, the Option becomes vested as to an additional _________ percent of the shares subject to the Option after each of the next ______ Anniversary Dates. Service for this purpose includes service as an employee, director, advisor or consultant providing bona fide services to the Company or any of its affiliates. For purposes of this Stock Option Agreement, termination of service would not be deemed to occur if the Optionee, after terminating service in one capacity, continues to provide service to the Company or any of its affiliates in another capacity. Termination of service is sometimes also referred to herein as termination of employment or other relationship with the Company or any of its affiliates.

IN OPTION. In order to meet the demand for online tutoring in the CCC system, a “Buy-In Option” shall be made available to all California Community Colleges interested in directly purchasing online tutoring services at preferred rates as a piggyback to this contract. Interested colleges should have access to the Buy-In Option beginning March 9, 2015 to purchase online tutoring services under the Full Service Model or