Common use of Time of Exercise of Option Clause in Contracts

Time of Exercise of Option. The Option shall vest in Optionee and may be exercised by Optionee as set forth on Exhibit "A" hereto. Any exercise may be with respect to any part or all of the shares then exercisable pursuant to such Option. Except as otherwise provided in the Plan, such Option must be exercised within the earlier of (i) 5 years after the date of the grant, or (ii) three months after Optionee's termination of employment with either the Corporation, or a Parent or Subsidiary thereof; provided, however, such rights shall be extended as more fully set forth in Section 3.3 of the Plan in the case of Optionee's death. In no event shall the Corporation be required to transfer fractional shares to Optionee or those entitled to Optionee's rights herein.

Appears in 8 contracts

Samples: Non Qualified Stock Option Agreement (Patriot Scientific Corp), Incentive Stock Option Agreement (Patriot Scientific Corp), Non Qualified Stock Option Agreement (Patriot Scientific Corp)

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Time of Exercise of Option. The Option shall vest in Optionee and may be exercised by Optionee as set forth on Exhibit "A" hereto. Any exercise may be with respect to any part or all of the shares then exercisable pursuant to such Option, provided that the minimum number of shares exercisable at any time shall not be less than 100 shares or the balance of shares for which the Option is then exercisable. Except as otherwise provided in the Plan, including, but not limited to, Section 3.2.2, such Option must be exercised within the earlier of (i) 5 10 years after the date of the grant, or (ii) three 3 months after Optionee's termination of employment with either the Corporation, or a Parent or Subsidiary thereof; provided, however, such rights shall be extended as more fully set forth in Section 3.3 of the Plan in the case of Optionee's death. In no event shall the Corporation be required to transfer fractional shares to Optionee or those entitled to Optionee's rights herein.

Appears in 4 contracts

Samples: Non Qualified Stock Option Agreement (National Manufacturing Technologies), Non Qualified Stock Option Agreement (National Manufacturing Technologies), Non Qualified Stock Option Agreement (National Manufacturing Technologies)

Time of Exercise of Option. The Option shall vest in Optionee and may be exercised by Optionee as set forth on Exhibit "A" hereto. Any exercise may be with respect to any part or all of the shares then exercisable pursuant to such Option. Except as otherwise provided in the Plan, such Option must be exercised within the earlier of (i) 5 10 years after the date of the grant, or (ii) three months after Optionee's ’s termination of employment or the performance of services with either the Corporation, or a Parent or Subsidiary thereof; provided, however, such rights shall be extended as more fully set forth in Section 3.3 of the Plan in the case of Optionee's ’s death. In no event shall the Corporation be required to transfer fractional shares to Optionee or those entitled to Optionee's ’s rights herein.

Appears in 2 contracts

Samples: Non Qualified Stock Option Agreement (Artes Medical Inc), Non Qualified Stock Option Agreement (Artes Medical Inc)

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Time of Exercise of Option. The Option shall vest in Optionee and may be exercised by Optionee as set forth on Exhibit "A" hereto. Any exercise may be with respect to any part or all of the shares then exercisable pursuant to such Option. Except as otherwise provided in the Plan, including, but not limited to, Section 3.2.2, such Option must be exercised within the earlier of (i) 10 years (5 years for 10% shareholders as defined in the Plan) after the date of the grant, or (ii) three months after Optionee's ’s termination of employment with either the Corporation, or a Parent or Subsidiary thereof; provided, however, such rights shall be extended as more fully set forth in Section 3.3 of the Plan in the case of Optionee's ’s death. In no event shall the Corporation be required to transfer fractional shares to Optionee or those entitled to Optionee's ’s rights herein.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Artes Medical Inc)

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