Term and Exercise Sample Clauses

Term and Exercise. The Option shall expire five (5) years from the date hereof. The Option is exercisable in full on the Date of Grant. If the Optionee's service with the Corporation terminates for any reason or if the Optionee ceases to be a Non-Employee Director, the Option may be exercised but only to the extent it was exercisable on the date of such termination of service until the Option expires in accordance with the first sentence of this Section 2. Notwithstanding anything to the contrary in this Section 2, if one of the events specified in Section 7.05(d)(i), (ii), (iii) or (iv) of the Plan occurs, the provisions of such Section 7.05(d) shall determine when the Option becomes exercisable, when it may be exercised and when it expires.

Term and Exercise. The Option shall expire ten (10) years from the Grant Date, subject to earlier termination as set forth in Section 3. Subject to the provisions of Sections 2 and 3, the Option shall become exercisable in installments as set forth on the last page of this Agreement.

Term and Exercise. (a) This option is fully vested on the date of grant and shall be exercisable beginning one year from the date of grant, and thereafter may be exercised in full or in part at any time or from time to time during the term of the option, subject to the provisions of Section 3 hereof. (b) This option shall not be assignable or transferable except by will or the laws of descent and distribution except that, upon written notice to the Company, Optionee may transfer this option to any “family member” (as such term is used in Form S-8 under the Securities Act of 1933) of Optionee, provided that (i) there is no consideration for such transfer or such transfer is effected pursuant to a domestic relations order in settlement of marital property rights, and (ii) this option held by such transferees shall continue to be subject to the same terms and conditions (including restrictions on subsequent transfers) as were applicable to this option immediately prior to such transfer. This option may not be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance thereof shall be void and unenforceable against the Company or any affiliate of the Company. Version Effective December 18, 2006 (c) During the lifetime of Optionee, the option shall be exercisable only by Optionee, a transferee pursuant to a transfer permitted by Section 2(b) above, or, if permissible under applicable law, by Optionee’s or such transferee’s guardian or legal representative. (d) Except as provided in Section 3 hereof, this option and all rights and obligations hereunder shall expire seven (7) years from the date of this Agreement.

Term and Exercise. This Incentive Stock Option may be exercised during a period beginning one year after and ending _____ years after the date of grant thereof (the "option term"). Unless a shorter period is provided by the Board (or, if applicable, a committee thereof appointed pursuant to Section 1.02(d) of the Plan), this Incentive Stock Option shall be exercised in accordance with this section 2. During the first year of the option term, no more than 25% of the initial total number of shares covered by the Incentive Stock Option may be exercised and purchased by the Optionee. During the second year of the option term, no more than 50% of the initial total number of shares covered by the Incentive Stock Option may be exercised and purchased by the Optionee, such percentage to include the percentage, by number of shares, purchased in the previous year of the option term. During the third year of the option term, no more than 75% of the initial total number of shares covered by the Incentive Stock Option may be exercised and purchased by the Optionee, such percentage to include the percentages, by number of shares, previously purchased in earlier years of the option term on a cumulative basis. During the fourth year and any succeeding year of the option term, 100% of the initial total number of shares covered by the Incentive Stock Option may be exercised and purchased by the Optionee, such percentage to include the percentages, by number of shares, previously purchased in earlier years of the option term on a cumulative basis. No fractional shares shall be issued as a result of the exercise of this Incentive Stock Option. No Incentive Stock Option shall be exercisable after the expiration of its option term.

Term and Exercise. The Option shall expire five (5) years from the date hereof, subject to earlier termination as set forth in Section 3. Subject to the provisions of Section 3, the Option shall become exercisable in installments as set forth on the last page of this Agreement. Notwithstanding anything to the contrary in this Agreement, this Option shall terminate and be void and of no effect if the Plan is not approved by the holders of Voting Stock at the Corporation's 1998 annual meeting of shareholders.

Term and Exercise. Buyer may exercise the Option at any time up to and until December 31, 2005, by giving TFS written notice of the intention to exercise the Option.

Term and Exercise. The Option shall expire five (5) years from the date hereof. The Option shall become exercisable in installments as set forth on the attached Face Sheet of this Agreement; provided, however, that, if the Optionee is removed for Cause, the Option shall cease to continue to become exercisable on or after the date of such removal. If the Optionee's service with the Corporation terminates for any reason or if the Optionee ceases to be a Non-Employee Director, the Option shall continue to become exercisable in accordance with the preceding sentence and may be exercised until the Option expires in accordance with the first sentence of this Section 2. Accordingly, if the Optionee is removed for Cause, he or she may continue to exercise the Option until the Option expires in accordance with the first sentence of this Section 2, but only to the extent that (a) the Option became exercisable prior to the date of such removal and (b) it was not previously exercised. Notwithstanding anything to the contrary in this Section 2, in the event one of the events specified in Section 8.05(d)(i), (ii), (iii) or (iv) of the Plan occurs, the provisions of such Section 8.05(d) shall determine when the Option becomes exercisable, when it may be exercised and when it expires.

Term and Exercise. Buyer may exercise the Option at any time up to 5:00 p.m., New York City time on January 16, 2004 (the "Termination Date") by delivery to Seller of written notice of its exercise of the Option, together with its check for the full Purchase Price (as defined below). Within 5 business days following exercise of the Option, Seller shall deliver to Buyer certificates for the Shares, duly exercised for transfer, at which time the closing of the purchase of the Shares from Seller shall occur (the "Closing"). The date of the Closing is referred to herein as the "Closing Date."

Term and Exercise. (a) This Option may be exercised by the Holder for all, but not less than all, of the Shares of the Common Stock subject to this Option at any time prior to the expiration of this Option, which expiration shall occur simultaneously with the first to occur of either of the following two (2) events: (1) The failure of the Holder to have duly exercised this Option in the manner provided herein prior to the expiration of a period of five (5) years from the date of the issuance of this Option. (2) The cessation for any reason whatsoever of the Holder as an officer of the Corporation. Upon the expiration of this Option, as foresaid, this Option shall be and become null and void. (b) The Holder shall exercise this Option by surrender to the Corporation of this Option with the Purchase Form attached hereto as Exhibit "A", duly executed, accompanied by payment in cash or by check of the price hereinafter set forth for the Shares of the Common Stock so purchased (the "Option Price"). (c) Within sixty (60) business days following the exercise of this Option by the Holder as hereinabove provided, the Corporation shall cause to be issued in the name of and delivered to the Holder a certificate or certificates representing the Shares of the Common Stock so purchased. The Corporation covenants and agrees that all of the Shares of the Common Stock which may be issued and delivered upon the due exercise o this Option by the Holder shall, upon such issuance and delivery, be fully paid and nonassessable.