Period of Exercisability Contract Clauses (8)

Grouped Into 2 Collections of Similar Clauses From Business Contracts

This page contains Period of Exercisability clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Period of Exercisability. 2.1 Vesting; Commencement of Exercisability. (a) Subject to Sections 2.1(b) and 2.3 below, the Option shall become vested and exercisable in such amounts and at such times as are set forth in the vesting schedule in the Grant Notice (the "Vesting Schedule"). (b) Unless otherwise determined by the Administrator, any portion of the Option that has not become vested and exercisable on or prior to the date of Participant's Termination of Service shall be forfeited on the date of Participant's Termin...ation of Service and shall not thereafter become vested or exercisable. 2.2 Duration of Exercisability. The installments provided for in the Vesting Schedule are cumulative. Each such installment which becomes vested and exercisable pursuant to the Vesting Schedule shall remain vested and exercisable until it becomes unexercisable under Section 2.3 below or pursuant to the terms of the Plan. Once the Option becomes unexercisable, it shall be forfeited immediately. A-1 2.3 Expiration of Option. The Option may not be exercised to any extent by anyone after the first to occur of the following events: (a) The Expiration Date set forth in the Grant Notice; (b) The expiration of three months following the date of Participant's Termination of Service, unless such Termination of Service occurs by reason of Participant's death, Disability or Cause; (c) The expiration of one year following the date of Participant's Termination of Service by reason of Participant's death or Disability; or (d) The date of Participant's Termination of Service for Cause. Participant acknowledges that an Incentive Stock Option exercised more than three (3) months after Participant's Termination of Service as an Employee, other than by reason of death or Disability, will be taxed as a Non-Qualified Stock Option. 2.4 Special Tax Consequences. Participant acknowledges that, to the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Stock Options, including the Option, are first exercisable for the first time by Participant in any calendar year exceeds $100,000 (or such other limitation as imposed by Section 422(d) of the Code), the Option and such other options shall be treated as not qualifying under Section 422 of the Code but rather shall be considered Non-Qualified Stock Options. Participant further acknowledges that the rule set forth in the preceding sentence shall be applied by taking Options and other "incentive stock options" into account in the order in which they were granted. View More
Found in Sana Biotechnology, Inc. contract
Period of Exercisability. 2.1 Vesting; Commencement of Exercisability. (a) Subject The Option will vest and become exercisable according to Sections 2.1(b) and 2.3 below, the Option shall become vested and exercisable in such amounts and at such times as are set forth in the vesting schedule in the Grant Notice (the "Vesting Schedule"). (b) Unless otherwise Notice; provided that any fractional Shares will accumulate and vest and become exercisable only when a whole Share has accumulated. Notwithstanding anything in the O...ption Documents, except as set forth in a separate Agreement between Participant and the Company or as determined by the Administrator, the Option will immediately expire and be forfeited as to any unvested portion as of the date of termination of Participant's Continuous Service ("Termination of Service") for any reason. Any portion of the Option that has not become vested vests and becomes exercisable on or prior to the date of Participant's Termination of Service shall be forfeited on the date of Participant's Termination of Service and shall not thereafter become vested or exercisable. 2.2 Duration of Exercisability. The installments provided for in the Vesting Schedule are cumulative. Each such installment which becomes vested and exercisable pursuant to the Vesting Schedule shall will remain vested and exercisable until it becomes unexercisable under Section 2.3 below or pursuant to the terms of the Plan. Once Expiration Date (defined below), at which time the Option becomes unexercisable, it shall will be forfeited immediately. A-1 2.3 (b) Expiration of Option. The Option may not be exercised to any extent by anyone after the date of the first to occur of the following events: (a) to occur (the "Expiration Date"): (i) The Expiration Date set forth final expiration date stated in the Grant Notice; (b) The expiration of (ii) Except as approved by the Administrator, the date three months following the date of Participant's Termination of Service, unless such Termination of Service occurs by reason of for reasons other than Participant's death, Disability death or Cause; (c) The expiration of Disability; provided that if the Participant dies prior to such date, the Expiration Date will be one year following the date of Participant's death; and (iii) Except as approved by the Administrator, the date one year following the date of Termination of Service by reason of Participant's death or Disability; or (d) The date Disability. A-1 3. Exercise of Option (a) Person Eligible to Exercise. Only Participant may exercise the Option during Participant's Termination lifetime. After Participant's death, any exercisable portion of Service for Cause. Participant acknowledges that an Incentive Stock the Option exercised more than three (3) months after Participant's Termination of Service as an Employee, other than by reason of death or Disability, will be taxed as a Non-Qualified Stock Option. 2.4 Special Tax Consequences. Participant acknowledges that, may, prior to the extent that the aggregate Fair Market Value (determined as of the time the Option expires, be exercised by Participant's executor or administrator of the Participant's estate or any person who shall have acquired the option from the Participant by his or her will or the applicable law of descent and distribution as provided in the Plan. (b) Exercise. To exercise the Option, the Participant shall deliver to the Company a "Notice of Exercise" in a form specified by the Administrator, specifying the number of Shares the Participant wishes to purchase and how the Participant's Shares should be registered. The Participant may pay the Option Exercise Price in Shares, cash, or a combination thereof, including an irrevocable commitment by a broker to pay over such amount from a sale of Shares issuable under the Option, the delivery of previously owned Shares, withholding of Shares deliverable upon exercise of the Option (but only to the extent share withholding is granted) made available to the Participant by the Company), or in any other manner permitted by the Administrator. (c) Partial Exercise. Any exercisable portion of the Option may be exercised, in whole or in part, according with the procedures stated in Section 3(b) at any time prior to the Expiration Date, except that the Option may be exercised only for whole Shares. (d) Tax Withholding. (i) The Company may, but has no obligation to, treat Participant's failure to provide timely payment in accordance with the Plan of any withholding tax arising in connection with the Option as Participant's election to satisfy all or any portion of the withholding tax by requesting the Company retain Shares otherwise issuable under the Option. (ii) Participant is liable and responsible for all taxes owed in connection with the Option, regardless of any action the Company or any Subsidiary takes with respect to which Incentive Stock Options, including any tax withholding obligations that arise in connection with the Option, are first exercisable for Option. Neither the first time by Participant Company nor any Subsidiary makes any representation or undertaking regarding the treatment of any tax withholding in any calendar year exceeds $100,000 (or such other limitation as imposed by Section 422(d) connection with the awarding, vesting or exercise of the Code), Option or the subsequent sale of Shares. Neither the Company nor any Subsidiary is under any obligation to structure the Option and such other options shall be treated as not qualifying under Section 422 of the Code but rather shall be considered Non-Qualified Stock Options. Participant further acknowledges that the rule set forth in the preceding sentence shall be applied by taking Options and other "incentive stock options" into account in the order in which they were granted. to reduce or eliminate Participant's tax liability. View More
Found in BIOTIME INC contract
Period of Exercisability. 2.1 Vesting; Commencement of Exercisability. (a) Subject The Option will vest and become exercisable according to Sections 2.1(b) and 2.3 below, the Option shall become vested and exercisable in such amounts and at such times as are set forth in the vesting schedule in the Grant Notice (the "Vesting Schedule"). (b) Unless Schedule") except that any fraction of a Share as to which the Option would be vested or exercisable will be accumulated and will vest and become exercisable only when a whole ...Share has accumulated. Notwithstanding anything in the Grant Notice, the Plan or this Agreement to the contrary, unless the Administrator otherwise determined by determines, the Administrator, Option will immediately expire and be forfeited as to any portion of the Option that has is not become vested and exercisable on or prior to the date as of Participant's Termination of Service shall be forfeited on the date of Participant's Termination of Service and shall not thereafter become vested or exercisable. for any reason. 2.2 Duration of Exercisability. The installments provided for in the Vesting Schedule are is cumulative. Each such installment Any portion of the Option which vests and becomes vested and exercisable pursuant to the Vesting Schedule shall will remain vested and exercisable until it becomes unexercisable under Section 2.3 below or pursuant to the terms of the Plan. Once the Option becomes unexercisable, it shall expires. The Option will be forfeited immediately. A-1 immediately upon its expiration. 2.3 Expiration of Option. The Option may not be exercised to any extent by anyone after after, and will expire on, the first to occur of the following events: to occur: (a) The Expiration Date set forth final expiration date in the Grant Notice; (b) The Except as the Administrator may otherwise approve, the expiration of three (3) months following from the date of Participant's Termination of Service, unless such Participant's Termination of Service occurs is for Cause or by reason of Participant's death, Disability death or Cause; Disability; 152032510 v2 (c) The Except as the Administrator may otherwise approve, the expiration of one (1) year following from the date of Participant's Termination of Service by reason of Participant's death or Disability; or and (d) The date of Except as the Administrator may otherwise approve, Participant's Termination of Service for Cause. Participant acknowledges that an Incentive Stock Option exercised more than three (3) months after Participant's Termination of Service as an Employee, other than by reason of death or Disability, will be taxed as a Non-Qualified Stock Option. 2.4 Special Tax Consequences. Participant acknowledges that, to the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Stock Options, including the Option, are first exercisable for the first time by Participant in any calendar year exceeds $100,000 (or such other limitation as imposed by Section 422(d) of the Code), the Option and such other options shall be treated as not qualifying under Section 422 of the Code but rather shall be considered Non-Qualified Stock Options. Participant further acknowledges that the rule set forth in the preceding sentence shall be applied by taking Options and other "incentive stock options" into account in the order in which they were granted. View More
Found in Nightstar Therapeutics plc contract
Period of Exercisability. 2.1 Vesting; Commencement of Exercisability. (a) Subject The Option will vest and become exercisable according to Sections 2.1(b) and 2.3 below, the Option shall become vested and exercisable in such amounts and at such times as are set forth in the vesting schedule in the Grant Notice (the "Vesting Schedule"). (b) Unless otherwise determined by Schedule") except that any fraction of a Share as to which the Administrator, Option would be vested or exercisable will be accumulated and will vest an...d become exercisable only when a whole Share has accumulated. Notwithstanding anything in the Grant Notice, the Plan or this Agreement to the contrary, unless the Administrator determines that an unvested Option shall be treated as vested in whole or in part, then the Option will immediately expire and be forfeited as to any portion of the Option that has is not become vested and exercisable on or prior to the date as of Participant's Termination of Service shall be forfeited on the date of Participant's Termination of Service and shall not thereafter become vested or exercisable. for any reason . 2.2 Duration of Exercisability. The installments provided for in the Vesting Schedule are is cumulative. Each such installment Any portion of the Option which vests and becomes vested and exercisable pursuant to the Vesting Schedule shall will remain vested and exercisable until it becomes unexercisable under Section 2.3 below or pursuant to the terms of the Plan. Once the Option becomes unexercisable, it shall expires. The Option will be forfeited immediately. A-1 immediately upon its expiration. 2.3 Expiration of Option. The Option may not be exercised to any extent by anyone after after, and will expire on, the first to occur of the following events: to occur: (a) The Expiration Date set forth final expiration date in the Grant Notice; (b) The Except as the Administrator may otherwise approve, the expiration of three (3) months following from the date of Participant's Termination of Service, unless such Participant's Termination of Service occurs is for Cause or by reason of Participant's death, Disability death or Cause; Disability; (c) The Except as the Administrator may otherwise approve, the expiration of one (1) year following from the date of Participant's Termination of Service by reason of Participant's death or Disability; or and (d) The date of Except as the Administrator may otherwise approve, Participant's Termination of Service for Cause. Participant acknowledges that an Incentive Stock Option exercised more than three (3) months after Participant's Termination of Service as an Employee, other than by reason of death or Disability, will be taxed as a Non-Qualified Stock Option. 2.4 Special Tax Consequences. Participant acknowledges that, to the extent that the aggregate Fair Market Value (determined as of the time the Option is granted) of all Shares with respect to which Incentive Stock Options, including the Option, are first exercisable for the first time by Participant in any calendar year exceeds $100,000 (or such other limitation as imposed by Section 422(d) of the Code), the Option and such other options shall be treated as not qualifying under Section 422 of the Code but rather shall be considered Non-Qualified Stock Options. Participant further acknowledges that the rule set forth in the preceding sentence shall be applied by taking Options and other "incentive stock options" into account in the order in which they were granted. View More
Found in Spring Bank Pharmaceuticals, Inc. contract
View Variations (3)
Period of Exercisability. 2.1 Vesting; Commencement of Exercisability. 2.2 Duration of Exercisability. 2.4 Special Tax Consequences.
Found in Aligos Therapeutics, Inc. contract
Period of Exercisability. 2.1 Vesting; Commencement of Exercisability. 2.2 Duration of Exercisability. 2.3 Expiration of Option. 2.4 Special Tax Consequences.
Found in Aligos Therapeutics, Inc. contract
View Variation