TIME OF EXERCISE OF THE OPTION Sample Clauses

TIME OF EXERCISE OF THE OPTION. (a) Subject always to the provisions of Sections 2(b) and 3 and the terms and conditions of the Employment Agreement: (i) the Option may not be exercised prior to September 25, 1997; and (ii) on and after September 25, 1997, the Option may be exercised as to seventy-five thousand shares covered thereby. On and after September 25, 1998, the Option may be exercised as to an additional seventy-five thousand shares covered thereby. On and after September 25, 1999, the Option may be exercised as to the remaining seventy-five thousand shares covered thereby.
Sample 1Sample 2See All (6)
AutoNDA by SimpleDocs
TIME OF EXERCISE OF THE OPTION. The Option shall become exercisable by Optionee, as follows:
Sample 1Sample 2Sample 3
TIME OF EXERCISE OF THE OPTION. (a) Subject to Paragraph 2(b) below, the aforesaid Option may be exercised as follows: [TBD]
Sample 1Sample 2
TIME OF EXERCISE OF THE OPTION. The Option shall vest, and may be exercised, in accordance with the Vesting Schedule Set out above. The Option shall terminate and shall no longer be exercisable on and after the tenth anniversary of the Grant Date.
Sample 1
TIME OF EXERCISE OF THE OPTION. These incentive stock options are not vested. On July 16, 1999 (1st anniversary of date of grant), an option to purchase 100,000 (ie. 20%) shares will become vested. The remaining incentive stock options will vest at the rate of 100,000 shares on each anniversary date thereafter (ie. July 16, 2000; July 16, 2001; July 16, 2002; and July 16, 2003). No further vesting of shares shall occur on or after the date either party gives notice of termination of the employment of the Executive for whatever reason(s). Subject to the option termination provision hereinafter set forth, the option may be exercised by the Executive at any time during the Employment Period or Renewal Term if the Executive Employment Agreement has been renewed, by written notice given by certified mail return receipt requested to the Company's President and/or CEO. These options are not assignable by the Executive. If the Executive's employment with the Company is terminated pursuant to Section 4(b) of the Executive Employment Agreement, then the Executive's option to purchase the Shares and the vesting of said shares as described above, shall terminate within ninety (90) days after the Executive receives written notice that his employment with the Company is being terminated. In the event that the Executive's employment is terminated with cause as provided in the Executive Employment Agreement and/or voluntarily by the Executive, then the Executive's option to purchase the Shares and the vesting of the shares as described above shall terminate effective on the earlier of the date he is terminated, or the date he received written notice of his termination, or the date upon which the act or omission giving rise to Executive's termination for cause occurred. If the Executive's employment with the Company is terminated due to death or disability, then the Executive's option to purchase the Shares and the vesting of said shares as described above, shall terminate (a) in the event of disability, within one (1) year after the Executive's employment with the Company is terminated as a result of any disability or, (b) in the event of death, within six (6) months of the Executive's death. If the Executive's employment with the Company terminates as a result of the term of the Employment Period ending and/or the term of the Renewal Term ending as provided in the Executive's Employment Agreement, than the Executive's option to purchase the shares shall terminate and be of no further effect. The Shares...
Sample 1
TIME OF EXERCISE OF THE OPTION. During the first three years the Option is outstanding it may not be exercised with respect to any of the Shares, except to the extent provided under the Plan in the event of a Change of Control of the Corporation. Subject to the provisions of Sections 4 and 5 of this Agreement, during the fourth year and thereafter the Option may be exercised as to all or any of the Shares, less the number of Shares previously purchased thereunder, but it shall not be exercisable after the expiration of six years from the date hereof.
Sample 1
TIME OF EXERCISE OF THE OPTION. During the first year the Option is outstanding it may not be exercised with respect to any of the shares covered thereby; during the second year it may be exercised as to not more than 20% of the total number of shares covered thereby, less the number of shares previously purchased thereunder; during the third year it may be exercised as to not more than 40% of the total number of shares covered thereby, less the number of shares previously purchased thereunder; during the fourth year it may be exercised as to not more than 60% of the total number of shares covered thereby, less the number of shares previously purchased thereunder; during the fifth year it may be exercised as to not more than 80% of the total number of shares covered thereby, less the number of shares previously purchased thereunder; and during the sixth year and thereafter the Option may be exercised as to all or any of the shares covered thereby, less the number of shares previously purchased thereunder, but it shall not be exercisable after the expiration of 10 years and one day from the date hereof.
Sample 1
AutoNDA by SimpleDocs

Related to TIME OF EXERCISE OF THE OPTION

  • Time of Exercise of Option This Option shall be first exercisable as to 25% of the Shares on each of the first four anniversary dates of this Agreement. To the extent the Option is not exercised by the Optionee when it becomes exercisable, it shall not expire, but shall be carried forward and shall be exercisable, on a cumulative basis, until the Expiration Date, as hereinafter defined.

  • Exercise of the Option The Optionee may exercise the Option, from time to time and at any time, beginning on the first anniversary of this Agreement. The grant of the Option shall not confer upon the Optionee any right to be employed by the Company nor limit in any way the right of the Company to terminate the employment of the Optionee at any time.

  • Time of Exercise The purchase rights represented by this Warrant may be exercised in whole or in part during the Term.

  • Notice of Exercise of Option This Option may be exercised by the ---------------------------- Optionee, or by the Optionee's administrators, executors or personal representatives, by a written notice (in substantially the form of the Notice of Exercise attached hereto as Schedule B) signed by the Optionee, or by such administrators, executors or personal representatives, and delivered or mailed to the Company as specified in Section 14 hereof to the attention of the President or such other officer as the Company may designate. Any such notice shall (a) specify the number of shares of Stock which the Optionee or the Optionee's administrators, executors or personal representatives, as the case may be, then elects to purchase hereunder, (b) contain such information as may be reasonably required pursuant to Section 12 hereof, and (c) be accompanied by (i) a certified or cashier's check payable to the Company in payment of the total Exercise Price applicable to such shares as provided herein, (ii) shares of Stock owned by the Optionee and duly endorsed or accompanied by stock transfer powers having a Fair Market Value equal to the total Exercise Price applicable to such shares purchased hereunder, or (iii) a certified or cashier's check accompanied by the number of shares of Stock whose Fair Market Value when added to the amount of the check equals the total Exercise Price applicable to such shares purchased hereunder. Upon receipt of any such notice and accompanying payment, and subject to the terms hereof, the Company agrees to issue to the Optionee or the Optionee's administrators, executors or personal representatives, as the case may be, stock certificates for the number of shares specified in such notice registered in the name of the person exercising this Option.

  • Manner of Exercise of Option (a) To the extent that the right to exercise the Option has accrued and is in effect, the Option may be exercised in full or in part by giving written notice to the Company stating the number of Shares as to which the Option is being exercised and accompanied by payment in full for such Shares. No partial exercise may be made for less than one hundred (100) full Shares of Common Stock. Payment shall be made in accordance with the terms of the Plan. Upon such exercise, delivery of a certificate for paid-up, non- assessable Shares shall be made at the principal office of the Company to the person exercising the Option, not less than thirty (30) and not more than ninety (90) days from the date of receipt of the notice by the Company.

  • Method of Exercise of Option (a) Subject to the terms and conditions of this Agreement, the Option shall be exercisable by notice in the manner set forth in Exhibit A hereto (the "NOTICE") and provision for payment to the Corporation in accordance with the procedure prescribed herein. Each such Notice shall:

  • Extension of Exercise Period Notwithstanding any provisions of paragraphs (a), (b), (c) or (d) of this Section to the contrary, if exercise of the Option following termination of employment during the time period set forth in the applicable paragraph or sale during such period of the Shares acquired on exercise would violate any of the provisions of the federal securities laws (or any Company policy related thereto), the time period to exercise the Option shall be extended until the later of (i) forty-five (45) days after the date that the exercise of the Option or sale of the Shares acquired on exercise would not be a violation of the federal securities laws (or a related Company policy), or (ii) the end of the time period set forth in the applicable paragraph.

  • Method of Exercise of Warrants The right to purchase shares conferred by the Warrants may be exercised by the Holder surrendering the Warrant Certificate representing same, with a duly completed and executed subscription in the form attached hereto and a bank draft or certified cheque payable to the Company for the purchase price applicable at the time of surrender in respect of the shares subscribed for in lawful money of the United States of America, to the Company at the address set forth in, or from time to time specified by the Company pursuant to, Section 3.2.

  • Partial Exercise; Effective Date of Exercise In case of any partial exercise of this Warrant, the Company shall cancel this Warrant upon surrender hereof and shall execute and deliver a new Warrant of like tenor and date for the balance of the shares of Common Stock purchasable hereunder. This Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as provided above. The person entitled to receive the shares of Common Stock issuable upon exercise of this Warrant shall be treated for all purposes as the holder of record of such shares as of the close of business on the date the Company receives the Notice of Exercise, subject to receipt of the Exercise Amount.

  • Method of Exercise of Options Optionee shall notify the Company by written notice sent by certified mail, return receipt requested, addressed to the Company's principal office, or by hand delivery to such office, as to the number of Shares which Optionee desires to purchase under the options, which written notice shall be accompanied by Optionee's check payable to the order of the Company for the full option price of such Shares. As soon as practicable after the receipt of such written notice, the Company shall, at its principal office, tender to Optionee a certificate or certificates issued in Optionee's name evidencing the Shares purchased by Optionee hereunder.

Time is Money Join Law Insider Premium to draft better contracts faster.