Vesting and Commencement of Exercisability Sample Clauses

Vesting and Commencement of Exercisability. ( a) Subject to Section 3.1(c) and so long as the Grantee continues to be Employed through the relevant vesting dates, the Time Option shall become vested and exercisable based on elapsed time, such that the percentages of the Time Option set forth in the table entitled Time Option Vesting Schedule on Appendix A attached hereto shall become vested and exercisable on each of the corresponding vesting dates set forth in such table.
Sample 1
AutoNDA by SimpleDocs
Vesting and Commencement of Exercisability. (a) Subject to Section 3.1(c) and so long as the Grantee continues to be Employed through the relevant vesting dates, the Time Option shall become vested and exercisable based on elapsed time, such that 1/48th of the Time Option shall become vested and exercisable on each monthly anniversary of the Grant Date, with 100% of the Time Option being vested and exercisable on the 48th monthly anniversary of the Grant Date; provided, that if the Grantee’s Employment is terminated by the Company without Cause or due to the Grantee’s resignation for Good Reason at any time prior to the sixth monthly anniversary of the Grant Date, then 6/48s of the Time Option shall be vested and exercisable on the date of such termination.
Sample 1
Vesting and Commencement of Exercisability. The Option shall vest and become exercisable in three tranches, provided that the Optionee has been an employee of the Company continuously from the date of this Agreement through the date when such portion of the Option vests. The first tranche of 300,000 Shares will vest and become exercisable on the first anniversary of the Grant Date. The second tranche of 300,000 Shares will vest and become exercisable on or after the second anniversary of the Grant Date, provided that the Option will not be exercisable with respect to such Shares unless and until the average closing price per Share of the Company’s common stock for the ten trading days prior to exercise equals or exceeds $2.50 per share. The third tranche of 400,000 shares will vest and become exercisable on or after the third anniversary of the Grant Date, provided that the Option will not be exercisable with respect to such Shares unless and until the average closing price per Share of the Company’s common stock for the ten trading days prior to exercise equals or exceeds $3.50 per share.
Sample 1
Vesting and Commencement of Exercisability. (a) Subject to the Optionee’s continued Employment on each applicable vesting date and except as otherwise expressly provided in this Section 3.1, the Option shall vest and become exercisable with respect to each of fiscal years 2011 through 2015 in installments consisting of 20% of the Shares subject thereto if, and only if, the Company’s actual “Adjusted EBITDA” (as defined on Exhibit A) measured as of December 31 of such fiscal year equals or exceeds the applicable Adjusted EBITDA target for such fiscal year (as set forth on Exhibit A attached hereto); provided that the date on which each such installment shall vest and become exercisable shall be the date on which the Committee determines, in the manner set forth in Section 3.1(c), that the applicable Adjusted EBITDA target for such fiscal year has been achieved.
Sample 1
Vesting and Commencement of Exercisability. Subject to the provisions of Section 3.2, the Option shall Vest and become exercisable as follows:
Sample 1
Vesting and Commencement of Exercisability. (a) Subject to the Optionee’s continued Employment, the Option shall vest and become exercisable with respect to 20% of the Shares subject to the Option on each of the first, second, third, fourth and fifth anniversaries of the Grant Date.
Sample 1
Vesting and Commencement of Exercisability 
Sample 1Sample 2Sample 3See All (19)
AutoNDA by SimpleDocs

Related to Vesting and Commencement of Exercisability

  • Commencement of Exercisability (a) Subject to Sections 3.1(b), 3.1(c) and 3.3, the Option shall become vested and exercisable in such amounts and at such times as are set forth in the Grant Notice.

  • Vesting and Exercisability (a) No portion of this Stock Option may be exercised until such portion shall have vested.

  • Period of Exercisability Section 3.1 - Commencement of Exercisability

  • Exercisability This option shall be exercisable as to: Number of Shares Vesting Date 400 immediate This option shall remain exercisable as to all vested shares until January 1,2014 (but not later than ten (10) years from the date this option is granted) unless this option has expired or terminated earlier in accordance with the provisions hereof or in the Plan. Subject to paragraphs 4 and 5, shares as to which this option becomes exercisable pursuant to the foregoing provision may be purchased at any time prior to expiration of this option.

  • Option Exercisability The Option shall terminate immediately upon the Participant’s termination of Service to the extent that it is then unvested and shall be exercisable after the Participant’s termination of Service to the extent it is then vested only during the applicable time period as determined below and thereafter shall terminate.

  • Vesting and Exercisability of Option The Option shall vest, and may be exercised, with respect to the Shares as set forth in the Optionee Statement attached hereto and made a part hereof, subject to earlier termination of the Option as provided in Sections 1.4 and 6 hereof or in the Plan. The right to purchase the Shares as they become vested shall be cumulative and shall continue during the Exercise Term unless sooner terminated as provided herein.

  • Duration of Exercisability The installments provided for in Section 3.1 are cumulative. Each such installment which becomes exercisable pursuant to Section 3.1 shall remain exercisable until it becomes unexercisable under Section 3.3.

  • Acceleration of Exercisability Notwithstanding the schedule provided in subsection 3.2, the Option will become fully exercisable (unless Participant chooses to decline accelerated Vesting of all or any portion of the Option) upon the occurrence of either:

  • Duration and Exercisability A. This option may not be exercised by Employee until the expiration of two (2) years from the date of grant, and this option shall in all events terminate ten (10) years after the date of grant. During the first two years from the date of grant of this option, no portion of this option may be exercised. Thereafter this option shall become exercisable in four cumulative installments of 25% as follows: Total Portion of Option Date Which is Exercisable ---- -------------------- Two Years after Date of Grant 25% Three Years after Date of Grant 50% Four Years after Date of Grant 75% Five Years after Date of Grant 100% In the event that Employee does not purchase in any one year the full number of shares of Common Stock of the Company to which he/she is entitled under this option, he/she may, subject to the terms and conditions of Section 3 hereof, purchase such shares of Common Stock in any subsequent year during the term of this option.

  • Vesting Schedule/Period of Restriction Except as provided in paragraphs 4 and 5, and subject to paragraph 7, the Performance Shares awarded by this Agreement shall vest in accordance with the vesting provisions set forth on the first page of this Agreement. Performance Shares shall not vest in the Employee in accordance with any of the provisions of this Agreement unless the Employee shall have been continuously employed by the Company or by one of its Subsidiaries from the Grant Date until the date the Performance Shares are otherwise scheduled to vest.

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