Conditions to Exercisability Sample Clauses
The "Conditions to Exercisability" clause defines the specific requirements that must be met before a party can exercise a particular right, such as an option or warrant. Typically, this clause outlines prerequisites like the passage of a certain period, achievement of performance milestones, or fulfillment of contractual obligations. By clearly stating these conditions, the clause ensures that rights are only exercisable when agreed-upon criteria are satisfied, thereby preventing premature or unauthorized actions and providing certainty to both parties.
Conditions to Exercisability. The Options shall vest and become exercisable as follows: If the Grantee remains in Continuous Service through and on such date or dates (or if otherwise set forth in an employment agreement between the Grantee and the Company that is in effect at the relevant time).
Conditions to Exercisability. (a) The Option shall become exercisable as to twenty percent (20%) of the shares of Stock covered by the Option on each of the next five anniversaries of this Agreement, provided that the Executive continues to be employed by Niagara or one of its subsidiaries (collectively, the "Company") on such date.
(b) Notwithstanding the foregoing, the Option shall become exercisable in full upon the occurrence of a Change in Control of Niagara (as defined in the Plan).
Conditions to Exercisability. The Option shall become exercisable with respect to all of the shares of Stock covered by the Option on the date of this Agreement.
Conditions to Exercisability. (a) The Option is immediately exercisable with respect to forty percent (40%) of the Option Shares covered hereby. The Option will become exercisable with respect to (i) an additional twenty percent (20%) of the Sorgenti Shares subject hereto on each of May 4, 1995, May 4, 1996, and May 4, 1997; provided that Sorgenti is employed by the Company on such date and (ii) an additional twenty percent (20%) of the ▇▇▇▇▇ Shares subject hereto on each of May 4, 1995, May 4, 1996 and May 4, 1997; provided that ▇▇▇▇▇ is employed by the Company on such date.
(b) Notwithstanding the foregoing, this Option shall become immediately exercisable with respect to (i) one hundred percent (100%) of the Sorgenti Shares then unvested in the event the Sorgenti Employment Agreement is terminated by reason of the death or disability of Sorgenti or by the Company without Cause or by Sorgenti for Good Reason (in each case pursuant to and as defined in the Sorgenti Employment Agreement), (ii) one hundred percent (100%) of the ▇▇▇▇▇ Shares then unvested in the event the ▇▇▇▇▇ Employment Agreement is terminated by reason of the death or disability of ▇▇▇▇▇ or by the Company without Cause or by ▇▇▇▇▇ for Good Reason (in each case pursuant to and as defined in the ▇▇▇▇▇ Employment Agreement) and (iii) one hundred percent (100%) of the Option Shares then unvested in the event of a Change of Control of the Company (as defined in the Employment Agreements).
(c) Notwithstanding the foregoing, in the event JLL offers Common Stock to the public in an offering registered under the Securities Act of 1933 (the "Securities Act"), prior to May 4, 1997, and JLL participates in such offering by selling all or part of its holdings of Common Stock, this Option shall become immediately exercisable on the date of such offering to the extent and only to the extent necessary to enable Freedom to sell (if permitted by the underwriters) such number of Option Shares in the aggregate as would equal 25% of the shares sold by JLL. Freedom acknowledges and agrees that this Section 4(c) does not entitle Freedom to participate in any such public offering.
Conditions to Exercisability. The Options shall become vested ---------------------------- immediately upon execution of this Agreement and shall be exercisable thereafter until the end of the Option Term, whether or not the Employee continues to be in the employ of, or maintains any relationship with the Company. The terms and conditions in paragraphs 6(e), 13, 16(b), 18, 19 and 20 of Company's 1999 Amended and Restated Stock Option and Incentive Plan ("Plan") as amended on November 6, 2000, including all relevant definitions set forth in the Plan, are hereby incorporated by reference in this Agreement, subject to paragraphs 7 and 13 hereof.
Conditions to Exercisability. Except as otherwise provided herein, the Option shall become exercisable according to the following schedule, provided that the Optionee is serving as a director of the Company on such dates:
Conditions to Exercisability. The Options shall vest and become exercisable on the later of the following dates, «VESTING», known as the vesting dates, if the Employee continues to be employed by or acts as a Consultant to or a Director of the Company or any of its subsidiaries on such date.
Conditions to Exercisability. The Options shall vest and become exercisable as follows: ● on each of ● and ● and ● on ● , if the Employee continues to be employed by or acts as a consultant to or a director of the Company or any of its subsidiaries on such date or dates.
Conditions to Exercisability. (a) Immediately following the execution of this Agreement, the Option shall be exercisable as to 10,000 shares of Stock covered by the Option. The Option shall become exercisable with respect to an additional 5,000 of such shares on the first anniversary of this Agreement, provided that the Director continues to serve as a director of Niagara on such date.
(b) Notwithstanding the foregoing, the Option shall become exercisable in full upon the occurrence of a Change in Control of Niagara (as defined in the Plan).
Conditions to Exercisability. The Options shall vest as follows: twenty-five thousand (25,000) Options shall vest upon execution of this agreement and shall be immediately exercisable; thereafter, commencing on May 1, 1999, twenty-five thousand (25,000) options shall vest at the beginning of each of the Company's fiscal quarters during the Option Term.