Time Option. An Option with respect to which the terms and conditions are set forth in Section 3(a) of this Agreement.
Time Option. The Time Option shall become vested and exercisable with respect to 20% of the Shares subject to such Option on each of the first five anniversaries of the Closing Date.
Time Option. The Time Option shall become vested and exercisable with respect to 25% of the Shares subject to such Option on each of the first four anniversaries of the Grant Date.
Time Option. The Time Option shall become vested and exercisable with respect to 20% of the Shares subject to such Option on the last day of each of the Fiscal Years 2016, 2017, 2018, 2019 and 2020 respectively.
Time Option. Notwithstanding Section 3(a) and 3(d)(i), (x) in the event that the Participant’s Employment is terminated (A) by the Company without Cause or (B) by the Participant with Good Reason, to the extent not previously cancelled or expired, the Time Option shall immediately become one hundred percent (100%) vested and exercisable or (y) in the event that the Participant’s Employment is terminated due to the Participant’s death or Disability, the Time Option shall immediately become vested and exercisable as to the Shares subject to the Time Option that would have otherwise vested and become exercisable in the calendar year in which such termination of Employment occurs.
Time Option. The Time Option shall become vested and exercisable with respect to 20% of the Shares subject to such Option on each of the first five anniversaries of the date set forth on Schedule B (the “Hire or Promotion Date”).
Time Option. The key terms of the Time Option are as follows:
Time Option. The Time Option, unless otherwise specifically provided on the signature page hereof, shall become vested and exercisable ratably on a monthly basis for the five-year period, beginning on the Grant Date.
Time Option. Notwithstanding Section 3(a) and 3(c)(i), in the event that the Participant’s Employment is terminated due to death, Disability or Retirement, to the extent not previously cancelled or expired, the Time Option shall immediately become vested and exercisable as to the Shares subject to the Time Option that would have otherwise vested and become exercisable in the fiscal year in which such termination of Employment occurs and any remaining unvested portion of the Time Option shall expire and be immediately canceled by the Company without consideration.
