AND EXERCISE OF OPTION Sample Clauses

AND EXERCISE OF OPTION. This Option shall vest immediately upon the date of this Agreement. The Option may be exercised, by written notice to the Company at its principal executive office addressed to the attention of its Chief Executive Officer, as follows: Optionee may exercise his option with regard to ten percent (10%) of the shares subject to this Option nine (9) months after the initial public offering of the Stock of the Company (the "IPO"); and thereafter the Optionee may exercise ten percent (10%) per quarter beginning twelve months after the IPO. e. options relating to the ten percent (10%) of the shares that become exercisable two (2) years after the IPO must be exercised within five (5) years from the date of the IPO. This Option is not transferable by Optionee otherwise than by will or the laws of descent and distribution, and may be exercised only by Optionee during Optionee's lifetime. This Option may be exercised whether or not Optionee remains a member of the Board of Directors of the Company. If Optionee dies while a member of the Board, Optionee's estate, or the person who acquires this Option by will or the laws of descent and distribution or otherwise by reason of the death of Optionee, may exercise this Option at any time during the period of one (1) year following the date of Optionee's death. The purchase price of shares as to which this Option is exercised shall be paid in full at the time of exercise in cash (including check, bank draft or money order payable to the order of the Company). No fraction of a share of Stock shall be issued by the Company upon exercise of an Option; rather, Optionee shall provide a cash payment for such amount as is necessary to effect the issuance of only whole shares of Stock. Unless and until a certificate or certificates representing such shares shall have been issued by the Company to Optionee, Optionee (or the person permitted to exercise this Option in the event of Optionee's death) shall not be or have any of the rights or privileges of a stockholder of the Company with respect to shares acquirable upon an exercise of this Option.

AND EXERCISE OF OPTION. The Option may be exercised for: (i) One Hundred Fifty Thousand (150,000) shares of the Option Stock beginning one (1) year after the date hereof; (ii) an additional One Hundred Fifty Thousand (150,000) shares of the Option Stock beginning two (2) years after the date hereof; and (iii) an additional One Hundred Fifty Thousand (150,000) shares of the Option Stock beginning three (3) years after the date hereof. The Option shall be deemed "vested" as to all Common Stock for which it is then exercisable.

AND EXERCISE OF OPTION. The Option is to vest 1/3 January 1, 1998; 1/3 January 1, 1999; 1/3 January 1, 2000. Notwithstanding the vesting of any portion or all of the options, the Option may not be exercised as to less than 100 shares at any one time unless the number of Shares purchased is the total number at the time available for purchase under an installment of the Option. The Option may be exercised only as to whole shares; fractional share interests shall be disregarded except that they may be accumulated.

AND EXERCISE OF OPTION. The Option shall vest and be exercisable in accordance with the following provisions: a. SCHEDULE OF VESTING AND RIGHTS TO EXERCISE. The Option shall be vested and exercisable as follows: 500 shares on March 12, 1997, 1,000 shares on March 12, 1998, 1,500 shares on March 12, 1999 and full vesting on March 12, 2000.

AND EXERCISE OF OPTION. The Option is fully Vested and may be exercised at any time, subject to the Optionholder complying with the Company’s ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ policy.

AND EXERCISE OF OPTION. The Option shall not be vested to any extent and may not be exercised prior to <>. Subject to the terms and conditions set forth herein, the Option shall be vested and exercisable beginning on <>, to the extent of 20% of the shares covered thereby, and an additional 20% beginning on March 1 of each of the years 2007, 2008, 2009 and 2010, provided, however, that Optionee is an "Employee" (as defined in the Plan) on the applicable date of vesting. If Optionee is not an "Employee" on the vesting date, the Option and the underlying shares of common stock shall be forfeited. In the event that the Optionee's employment by the Corporation is terminated for Cause (as defined in the Plan), the vesting of the Option shall cease immediately upon the date of termination, and any vested but unexercised portion of the Option shall not be exercisable to any extent. All Options shall become fully vested and exercisable in full upon the occurrence of a Change in Control, as defined in the Plan, or if the Committee determines that a Change in Control has occurred, if Optionee is an Employee (as defined in the Plan) at the time of such occurrence. Whether an authorized leave of absence or absence on military or government service shall constitute termination of employment shall be determined by the Committee authorized to administer the Plan; and such Committee shall determine whether a termination is with or without Cause, a voluntary retirement, or due to Disability (as defined in the Plan).

AND EXERCISE OF OPTION. The Option shall vest and be exercisable in accordance with the following provisions: a. Schedule of Vesting and Rights to Exercise. The Option shall be vested and exercisable as follows: 150,000 shares Vested on: August 24, 2000 For a total of: 150,000 shares 150,000 shares Vested on: August 24, 2001 For a total of: 300,000 shares 150,000 shares Vested on: August 24, 2002 For a total of: 450,000 shares 150,000 shares Vested on: August 24, 2003 For a total of: 600,000 shares

AND EXERCISE OF OPTION. The Option shall vest and be treated as “Vested” in accordance with the following table, and may be exercised: 4.1 at any time, to the extent Vested, provided that the Board may require as a condition of any exercise that the Optionholder shall enter into arrangements satisfactory to the Board to ensure that if the Optionholder ceases employment with the Group the Option Shares acquired shall be offered to the Company or such other person or persons (which shall include the trustees of an employee trust) as the Board nominates, the price payable being the Fair Value of the relevant Option Shares; 4.2 on or following a Sale, Listing or an Asset Sale, or in accordance with Clause 5; or 4.3 where expressly permitted by Clause 8. Date Percentage of Options Shares treated as Vested* Date of Grant ________%** _____________ 2020 ________% on the expiry of each subsequent calendar month until the Option is Vested in full A further ________% (to a maximum of 100%) * Rounded down to the nearest whole number of shares, if applicable** Based on Optionholder start date of _____________

AND EXERCISE OF OPTION. The Option shall vest and be exercisable in accordance with the following provisions: a. Schedule of Vesting and Rights to Exercise. The Option shall be vested and exercisable as follows: