Vesting and Exercise of Option Clause Samples

Vesting and Exercise of Option. The Option shall vest and become exercisable during its term in accordance with the following provisions:

Vesting and Exercise of Option. The Option will become vested and exercisable only in accordance with the terms and provisions of the Plan and this Agreement, as follows:

Vesting and Exercise of Option. The Option shall be vest and become exercisable as follows from and after [ ] [ ], [ ] (the “Commencement Date”): (a) On [ ] [ ], [ ], the Option will vest with respect to 25.0% of the Shares, rounded to the next highest whole number of Shares; and (b) On the [ ] day of each month thereafter, the Option will vest with respect to 2.0833% of the Shares, rounded to the next highest whole number of Shares. The Option may be exercised at any time and from time to time to purchase up to the number of Shares as to which it is then vested and exercisable. Notwithstanding the foregoing, in the vent of a change in Control or Corporate Reorganization, the Option, at the sole discretion of the Company’s Board of Directors, may best and become exercisable, to the extent not already vested and exercisable, immediately prior to such Change in Control or Corporate Reorganization, provided that Participant has not incurred a Termination of service prior to the effective date of such Change in Control or Corporate Reorganization, unless the surviving entity in such Change in Control or Corporate Reorganization assumes the Option or replaces the Option with an option of equivalent value and with comparable terms. In the vent of a change in Control or Corporate Reorganization, if the surviving entity does not assume or replace the Option, the Company shall send Participant prior written notice of the effectiveness of such Change in Control or Corporate Reorganization and the last day on which Participant may exercise the Option, to the extent vested. On or prior to the last day specified in such notice, Participant may, upon compliance with all of the terms of this Agreement and the Plan, exercise the Option with respect to any or all of the vested Shares, conditioned upon and subject to the completion of the Change in Control or Corporate Reorganization. To the extent the Option is not so exercised, it shall terminate at 5:00 P.M., Eastern Time, on the last day specified in such notice, conditioned upon and subject to the completion of the Change in Control or Corporate Reorganization. If the surviving entity in such Change in Control or Corporate Reorganization assumes or replaces the Option as described above, the preceding provisions of this paragraph shall not apply; however if there is an Involuntary Termination of Participant’s employment within the period that commences thirty (30) days prior to the effective date of such Change in Control or Corporate Reorganization ...

Vesting and Exercise of Option. The Option shall become vested and exercisable in accordance with the vesting schedule set forth in the Award Notice (the “Vesting Schedule”). The period of time prior to the full vesting of the Option shall be referred to herein as the “Vesting Period.” The Option shall be vested and exercisable following a termination of Optionee’s employment according to the following terms and conditions:

Vesting and Exercise of Option. Subject to the continued service of Participant with the Company through the relevant vesting dates, the Option shall become vested and exercisable in such amounts and at such times as set forth in the Grant Notice. In addition:

Vesting and Exercise of Option. The Option shall vest and become exercisable in increments in accordance with the schedule set forth below, provided that the Option shall vest and become exercisable with respect to an increment as specified only if the Optionee has not incurred a Termination of Employment prior to the vesting date with respect to such increment: (a) no portion of the Option shall vest or become exercisable prior to the first anniversary of the Grant Date; (b) on the first anniversary of the Grant Date one fourth of the number of Shares subject to the Option (as indicated in Section 1) shall vest and become exercisable; (c) on the second anniversary of the Grant Date an additional one fourth of the number of Shares subject to the Option (as indicated in Section 1) shall vest and become exercisable; (d) on the third anniversary of the Grant Date an additional one fourth of the number of Shares subject to the Option (as indicated in Section 1) shall vest and become exercisable; and (e) on the fourth anniversary of the Grant Date the remaining one fourth of the number of Shares subject to the Option (as indicated in Section 1) shall vest and become exercisable. Notwithstanding the vesting provisions described above, the Option shall vest and become exercisable with respect to 100% of the Shares upon the Optionee’s Termination of Employment if the Optionee’s Termination of Employment is due to his or her Retirement, death or Disability.

Vesting and Exercise of Option. (a) Subject to the provisions contained herein, the Option shall vest as set forth in the Vesting Schedule in the Grant Notice, provided that vesting shall cease when the Optionee is no longer in “continuous employment with the Company” (as defined below). (b) The Option may be exercised, to the extent vested, at any time until the option period ends at 5:00 p.m., Salt Lake City time, on the Expiration Date as set forth in the Grant Notice, subject, however, to the further provisions of this Section 4. (c) The Option shall be exercisable only during the option period by the Optionee: (i) While the Optionee is in “continuous employment with the Company;” provided, however, that if the Optionee’s employment is terminated by the Optionee or by the Company without Cause (as defined below), the Optionee shall have a period of three months from the date the Optionee’s employment terminates in which to exercise the Option to the extent the Option was vested at the time of termination, but in no event later than the expiration of the option period. If the Optionee should die during this three month period, the Option may be exercised by the person or persons to whom the rights under the Option passed by will or the laws of descent and distribution to the same extent and during the same period the Optionee could have exercised the Option had the Optionee not died. (ii) If the Optionee should die or become permanently and totally disabled while employed by the Company, the Option or any unexercised portion thereof, to the extent vested, may be exercised by the Optionee, the Optionee’s conservator or legal guardian or by the person or persons to whom the Optionee’s rights under the Option passed by will or the laws of descent and distribution, not later than twelve months after the Optionee’s death or not later than twelve months after the Optionee’s disability, but in no event later than the expiration of the option period. The Option shall be void if not exercised during the option period. Except as otherwise provided, the option period shall terminate upon the Optionee’s termination of employment if that date is earlier than the Expiration Date of the Option. For purposes of the foregoing, “continuous employment with the Company” shall mean the absence of any interruption or termination of employment with the Company or a subsidiary thereof. Continuous employment shall not be considered interrupted in the case of a leave of absence approved by the Company.

Vesting and Exercise of Option. (a) The Option shall vest and become exercisable in increments in accordance with the schedule set forth below, provided that the Option shall vest and become exercisable with respect to an increment as specified only if the Participant is still in service as a Director on each such vesting date: (i) no portion of the Option shall vest or become exercisable prior to the date that is three months after the Grant Date; (ii) the Option shall vest and become exercisable with respect to 25% of the number of Shares subject to the Option (as indicated in Section 1) on the date that is three months after the Grant Date; (iii) the Option shall vest and become exercisable with respect to an additional 25% of the number of Shares subject to the Option (for a total of 50% of the number of Shares subject to the Option) on the date that is six months after the Grant Date; (iv) the Option shall vest and become exercisable with respect to an additional 25% of the number of Shares subject to the Option (for a total of 75% of the number of Shares subject to the Option) on the date that is nine months after the Grant Date; and (v) the Option shall vest and become exercisable with respect to the remaining 25% of the number of Shares subject to the Option (for a total of 100% of the number of Shares subject to the Option) on the date that is the first anniversary of the Grant Date. (b) Notwithstanding the vesting provisions described above, the Option shall vest and become exercisable with respect to 100% of the Shares upon the Participant’s termination of service as a Director if the Participant’s termination of service is due to his or her death or Disability. (c) In addition, the following provisions shall apply in the event of a Change in Control: (i) To the extent the successor company does not assume or substitute for the Option (or the Company is the ultimate parent corporation and does not continue the Option) on substantially equivalent terms (as determined by the Committee), the Option will become vested and exercisable in full upon the effective date of the Change in Control. (ii) Further, in the event that the Option is substituted, assumed or continued, the Option will become vested and exercisable in full if, within six months before (in which case vesting shall not occur until the effective date of the Change in Control) or one year after the effective date of the Change in Control, the Participant ceases to serve as a Director, or, if the Company is not the sur...

Vesting and Exercise of Option. Subject to Optionee’s not experiencing a Termination of Employment during the following vesting period, Optionee shall vest in and earn the right to exercise this Option as follows: One-fourth (1/4th) of the total number of Shares subject to the Option shall vest on the first anniversary of the earlier of the Grant Date or the Vesting Commencement Date, if any, and one thirty-sixth (1/36th) of the remaining Shares subject to the Option shall vest each month thereafter until all Shares are fully vested. By accepting the grant of this Option, Optionee acknowledges and agrees that the terms set forth in this Section 3 supersede any contrary terms regarding the vesting of this Option set forth in any notice or other communication that Optionee receives from, or that is displayed by, E*TRADE or other third party designated by the Company. This Option may be exercised in whole or in part. Notwithstanding the foregoing or anything in this Agreement to the contrary, in the event of Optionee’s Termination of Employment as a result of Optionee’s death or Disability, the vesting