Vesting Option Sample Clauses

Vesting Option. Subject to the following and the provisions of section "4.9" hereinbelow, and as soon as reasonably practicable 60 calendar days after the Effective Date hereof, it is hereby acknowledged and agreed that the Employee will be granted, subject to the rules and policies of the Regulatory Authorities and applicable securities legislation, the terms and conditions of the Company's existing stock option plan (the "Option Plan") and the final determination of the Board of Directors of the Company, acting reasonably, a vesting incentive stock option or options (each a "Vesting Option") for the purchase of up to an aggregate of 400,000 common shares of the Company (each an "Option Share"); exercisable for a period of not less than two years from the date of grant at an exercise price of U.S. $0.65 per Option Share; however, subject, at all times, to any such Vesting Option vesting and being exercisable by the Employee only in equal monthly proportions over a period of 12 months commencing one month after the date of grant.
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Vesting Option. (a) If, not later than the end of the Term of this Lease as defined in Section 2 of this Lease, the Company gives written notice of its desire to purchase the Premises, the Lessor shall convey the Premises to Lessee as soon thereafter as the necessary documents may be prepared and closing scheduled as set forth in this section. (b) The price to be paid upon settlement by Lessee to Lessor to purchase the property is $10.00. (c) At closing, Lessor shall deliver to Lessee a deed of Special Warranty conveying good, marketable, and insurable fee simple title to the Lessee, free of all liens, encumbrances, defects, and subject only to those covenants, restrictions, and easements of record or which would be disclosed by a current field survey or careful inspection of the Property. If a defect is found which the Lessor may cure within a reasonable time, the Lessor shall, at its own expense, promptly take such action as is necessary to cure the defect. If said defect cannot be cured within a reasonable time, Lessee shall have the option of rescinding its exercise of this option.
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Vesting Option. Notwithstanding anything herein to the contrary, in the event that Executive's employment with the Company ceases following expiration of the Term, any portion of the Time-Vesting Option that is not fully vested and exercisable at such time shall immediately become exercisable in full and shall remain exercisable for its originally scheduled term.
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Vesting Option. (a) If, not later than the end of the Term of this Lease as defined in Section 2 of this Lease, the Company gives written notice of its desire to purchase the Premises, the Lessor shall convey the Premises to Lessee as soon thereafter as the necessary documents may be prepared and closing scheduled as set forth in this section. (b) The price to be paid upon settlement by Lessee to Lessor to purchase the property is $10.00. (c) At closing, Lessor shall deliver to Lessee a deed of Special Warranty conveying good, marketable, and insurable fee simple title to the Lessee, free of all liens, encumbrances, defects, and subject only to those covenants, restrictions, and easements of record or which would be disclosed by a current field survey or careful inspection of the Property. The Lessee shall deliver to the Economic Development Authority of the Town of Bedford, Virginia, a deed of trust as set forth in the Performance Agreement. If a defect is found which the Lessor may cure within a reasonable time, the Lessor shall, at its own expense, promptly take such action as is necessary to cure the defect. If said defect cannot be cured within a reasonable time, Lessee shall have the option of rescinding its exercise of this option.
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Related to Vesting Option

  • Vesting of Option The Option shall be 100% vested upon the date of grant.

  • Vesting of Restricted Stock Units The restrictions and conditions of Section 1 of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains in a Business Relationship (as defined in Section 3 below) on such Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Section 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. Incremental Number of Restricted Stock Units Vested Vesting Date The Administrator may at any time accelerate the vesting schedule specified in this Section 2.

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.

  • Vesting of Options The Option shall vest (become exercisable) in accordance with the vesting schedule shown on page 1 of this Award Agreement. Notwithstanding the vesting schedule on page 1, the Option will also vest and become exercisable: (a) Upon your death or Disability during your Continuous Status as a Participant; or (b) Upon a Change in Control.

  • Vesting of Restricted Shares The Restricted Shares are subject to forfeiture to the Company until they become vested and non-forfeitable in accordance with this Section 2. While subject to forfeiture, the Restricted Shares may not be sold, pledged, assigned, otherwise encumbered or transferred in any manner, whether voluntarily or involuntarily by the operation of law, except to (i) an immediate family member or (ii) a trust or other estate-planning vehicle (collectively, the “Permitted Transferees”), so long as any such Permitted Transferee, as a condition to such transfer, agrees in writing to be bound by the terms of this Agreement with respect to the Restricted Shares. (a) 100% of the Restricted Shares subject hereto shall become vested and non-forfeitable on the third anniversary of the Effective Date, provided the Grantee remains in continuous service with the Company through such date. (b) Upon cessation of the Service Relationship (hereinafter defined), any Restricted Shares which then remain forfeitable (determined after application of Section 2(c), below) will immediately and automatically, without any action on the part of the Company, be forfeited, and the Grantee will have no further rights with respect to those shares. (c) If the Service Relationship (as defined below) terminates due to the Grantee’s death, or if a Change in Control (as defined below) occurs during the Service Relationship, any otherwise unvested Restricted Shares will then become vested and non-forfeitable. Similarly, if the Service Relationship ceases due to a termination by the Company without “Cause”, due to the Grantee’s “Disability” or due to a resignation by the Grantee with “Good Reason” (each as defined in that certain Employment Agreement between the Grantee and the Company dated on or about the closing date of the Transaction (the “Employment Agreement”)), and the Grantee executes a release of claims in the form and manner described in Section 7(c)(iii) of the Employment Agreement within the timeframe established in the Employment Agreement, any otherwise unvested Restricted Shares will become vested and non-forfeitable when such release becomes irrevocable. (d) For purposes of this Agreement, “Service Relationship” means the Grantee’s employment or service with the Company or its parent or any subsidiary or Affiliate, whether in the capacity of an employee, director or a consultant. Unless otherwise determined by the Board, the Grantee’s Service Relationship shall not be deemed to have terminated merely because of a change in the capacity in which the Grantee renders service to the Company or a transfer between locations of the Company, its parent or any subsidiary or Affiliate or a transfer between the Company, its parent, or any subsidiary or Affiliate, provided that there is no interruption or other termination of the Service Relationship. Subject to the foregoing and the following sentence, the Company, in its discretion, shall determine whether the Grantee’s Service Relationship has terminated and the effective date of such termination. The following events shall not be deemed a termination of the Service Relationship: