Common use of Right to Exercise Vesting Clause in Contracts

Right to Exercise Vesting. a. Subject to the expiration or earlier termination of the Term of the Option and to Section 3(b) hereof, Optionee shall have the right to exercise the Option in accordance with the following three (3) year vesting schedule: (i) Optionee shall have no right to exercise any part of the Option at any time prior to the expiration of one (1) year from the Grant Date; (ii) The Option shall become exercisable with respect to one-third (1/3rd) of the Option Shares upon the expiration of one (1) year from the Grant Date; and (iii) The Option thereafter shall become exercisable with respect to an additional one-thirty-sixth (1/36th) of the Option Shares on the last day of each month that commences following the Grant Date. b. Exercisable installments may be exercised by Optionee in whole or in part and to the extent not exercised shall accumulate and be exercisable as provided. The Company shall not be required to issue fractional shares at any time; and any fractional shares remaining in the Option following any exercise thereof shall be rounded down to the next nearest whole number of Shares.

Right to Exercise Vesting. a. Subject to the expiration or earlier termination of the Term of the Option and to Section 3(b2(b) hereof, Optionee shall have the right to exercise the Option in accordance with the following three (3) year vesting schedule: (i) Optionee shall have no right to exercise any part of the Option at any time prior to the expiration of one (1) year from the Grant Date; (ii) The Option shall become exercisable with respect to one-third Thirty Three and Three Hundred Thirty Three Thousandths Percent (1/3rd33.333%) of the Option Shares upon the expiration of one (1) year from the Grant Date; and (iii) The Option thereafter shall become exercisable with respect to an additional one-thirty-sixth Two Point Seven Hundred Seventy Seven Thousandths Percent (1/36th2.777%) of the Option Shares on the last day of each month that commences following the Grant Date. b. Exercisable installments may be exercised by Optionee in whole or in part and to the extent not exercised shall accumulate and be exercisable as provided. The Company shall not be required to issue fractional shares at any time; and any fractional shares remaining in the Option following any exercise thereof shall be rounded down to the next nearest whole number of Shares.

Right to Exercise Vesting. a. Subject to the expiration or earlier termination of the Term of the Option and to Section 3(b) hereof, Optionee shall have the right to exercise the Option in accordance with the following three (3) year vesting schedule: (i) Optionee shall have no right to exercise any part of the Option at any time prior to the expiration of one (1) year from the Grant Date; (ii) The Option shall become exercisable with respect to one-third (1/3rd1/3d) of the Option Shares upon the expiration of one (1) year from the Grant Date; and (iii) The Option thereafter shall become exercisable with respect to an additional one-thirty-sixth (1/36th) of the Option Shares on the last day of each month that commences following the Grant Date. b. Exercisable installments may be exercised by Optionee in whole or in part and to the extent not exercised shall accumulate and be exercisable as provided. The Company shall not be required to issue fractional shares at any time; and any fractional shares remaining in the Option following any exercise thereof shall be rounded down to the next nearest whole number of Shares.

Right to Exercise Vesting. a. Subject to the expiration or earlier termination of the Term of the Option and to Section 3(b) hereof, Optionee shall have the right to exercise the Option in accordance with the following three (3) year vesting schedule: (i) Optionee shall have no right to exercise any part of the Option at any time prior to the expiration of one (1) year from the Grant Date; (ii) The Option shall become exercisable with respect to one-third (1/3rd1/3d) of the Option Shares upon the expiration of one (1) year from the Grant Date; and (iii) The Option thereafter shall become exercisable with respect to an additional one-thirty-sixth (1/36th) of the Option Shares on the last day of for each month that commences following the expiration of one (1) year from the Grant Date. b. Exercisable installments may be exercised by Optionee in whole or in part and to the extent not exercised shall accumulate and be exercisable as provided. The Company shall not be required to issue fractional shares at any time; and any fractional shares remaining in the Option following any exercise thereof shall be rounded down to the next nearest whole number of Shares.