Vesting Time of Exercise Clause Example with 11 Variations from Business Contracts
This page contains Vesting Time of Exercise clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the first anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing s...ervices to) the Company or a Subsidiary on that date. b. An additional one-third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. The remaining one-third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date [Notwithstanding the foregoing, upon the occurrence of a Change in Control, then immediately prior to the effective date of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option shall become fully exercisable, if not previously so exercisable.]View More
Variations of a "Vesting Time of Exercise" Clause from Business Contracts
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, Agreement, the Optioned Shares shall be vested vested, and the Stock Option shall be exercisable as follows: a. One-third One third (1/3) of the total Optioned Shares (rounded down for fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the first anniversary of the Date of Grant, provided the Participant is employed by (or, if Opti...onee has continuously provided services to the Participant is a Contractor Group as an employee, contractor, or an Outside Director, is providing services to) the Company or a Subsidiary on outside director through that date. b. An additional one-third one third (1/3) of the total Optioned Shares (rounded down for fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the second anniversary of the Date of Grant, provided the Participant is employed by (or, if Optionee has continuously provided services to the Participant is a Contractor Group as an employee, contractor, or an Outside Director, is providing services to) the Company or a Subsidiary on outside director through that date. 3 c. The remaining one-third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, if Optionee has continuously provided services to the Participant is a Contractor Group as an employee, contractor, or an Outside Director, is providing services to) the Company or a Subsidiary on outside director through that date [Notwithstanding date. Notwithstanding the foregoing, upon in the occurrence of event that (i) a Change in Control, then immediately prior to the effective date Control occurs, one hundred percent (100%) of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested on the closing date of such Change in Control, provided that the Optionee has continuously provided services to the Group as an employee, contractor, or outside director through such date, or (ii) the Optionee incurs a Termination of Service (x) by the Company without Cause, or (y) by the Optionee for Good Reason, fifty percent (50%) of the total Optioned Shares not previously vested shall thereupon immediately become fully vested and this Stock Option shall become fully exercisable, if not previously so exercisable.] exercisable on the date of such Termination of Service, as applicable. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third (1/3) a.One forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the first one-month anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or... an Outside Director, is providing services to) to the Company or a Subsidiary on that date. b. An b.An additional one-third (1/3) one forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second each monthly anniversary of the Date of Grant, Grant thereafter, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) to the Company or a Subsidiary on that date. c. The remaining one-third (1/3) of In the total Optioned Shares shall vest event that a Change in Control occurs and that portion of either (i) this Agreement is not assumed by the surviving corporation or its parent, or the surviving corporation or its parent does not substitute its own option for this Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided or (ii) the Participant is employed by (or, if incurs a Termination of Service without Cause (as defined herein) in connection with or within twelve (12) months following the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date [Notwithstanding the foregoing, upon the occurrence of a Change in Control, then immediately prior to the effective date of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and exercisable upon the effective date of the Change in Control or the date of the Participant's Termination of Service, as applicable. For purposes of this Stock Option Agreement, a Termination of Service without Cause shall become fully exercisable, include the failure to reelect a Participant as an Outside Director if not previously so exercisable.] such Participant was an Outside Director immediately prior to the Change in Control. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third (1/3) One forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the first one-month anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or a...n Outside Director, is providing services to) the Company or a Subsidiary on that date. b. An additional one-third (1/3) one forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second each monthly anniversary of the Date of Grant, Grant thereafter, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. The remaining one-third (1/3) of In the total Optioned Shares shall vest and event that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date [Notwithstanding the foregoing, upon the occurrence of (i) a Change in Control, Control occurs, and (ii) this Agreement is not assumed by the surviving corporation or its parent, or the surviving corporation or its parent does not substitute its own option for this Stock Option, then immediately prior to the effective date of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option shall become fully exercisable, if not previously so exercisable.] exercisable. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third (1/3) One forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the first one-month anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or a...n Outside Director, is providing services to) the Company or a Subsidiary on that date. b. An additional one-third (1/3) one forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second each monthly anniversary of the Date of Grant, Grant thereafter, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. The remaining one-third (1/3) of In the total Optioned Shares shall vest and event that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date [Notwithstanding the foregoing, upon the occurrence of a Change in Control, then immediately prior to the effective date Control occurs, (i) fifty percent (50%) of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option exercisable upon the effective date of the Change in Control and (ii) any remaining Optioned Shares not previously vested shall become fully exercisable, vested and exercisable on the date of the Participant's Termination of Service by the Company without Cause (as defined herein) if not previously so exercisable.] such Termination of Service occurs on or before the first anniversary of the Change in Control's effective date. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third One third (1/3) of the total Optioned Shares (rounded down for fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the first anniversary of the Date of Grant, provided the Participant is employed by (or, if has continuously provid...ed services to the Participant is a Contractor or Group as an Outside Director, is providing services to) the Company or a Subsidiary on Employee through that date. b. An additional one-third one third (1/3) of the total Optioned Shares (rounded down for fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the second anniversary of the Date of Grant, provided the Participant is employed by (or, if has continuously provided services to the Participant is a Contractor or Group as an Outside Director, is providing services to) the Company or a Subsidiary on Employee through that date. c. The remaining one-third one third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, has continuously provided services to the Group as an Employee through that date. Notwithstanding the foregoing, if the Participant Participant's Termination of Service is a Contractor due to death, Total and Permanent Disability, Retirement or an Outside Director, is providing services to) by action of the Company or a Subsidiary without Cause (as defined in Section 4.b. below) at any time during the two year period beginning on that date [Notwithstanding the foregoing, upon the occurrence of a Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and exercisable as of the Termination Date. In the event that (i) a Transaction occurs, and (ii) this Agreement is not assumed by the surviving corporation or its parent, or the surviving corporation or its parent does not substitute its own option for this Stock Option, then immediately prior to the effective date of such Change in Control, Transaction, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option shall become fully exercisable, if not previously so exercisable.] exercisable. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third One third (1/3) of the total Optioned Shares (rounded down for fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the first anniversary of the Date of Grant, provided the Participant is employed by (or, if has continuously provid...ed services to the Participant is a Contractor Group as an Employee, Contractor, or an Outside Director, is providing services to) the Company or a Subsidiary on Director through that date. b. An additional one-third one third (1/3) of the total Optioned Shares (rounded down for fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the second anniversary of the Date of Grant, provided the Participant is employed by (or, if has continuously provided services to the Participant is a Contractor Group as an Employee, Contractor, or an Outside Director, is providing services to) the Company or a Subsidiary on Director through that date. c. The remaining one-third one third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, has continuously provided services to the Group as an Employee, Contractor, or Outside Director through that date. Notwithstanding the foregoing, if the Participant Participant's Termination of Service is a Contractor due to death, Total and Permanent Disability, Retirement or an Outside Director, is providing services to) by action of the Company or a Subsidiary without Cause (as defined in Section 4.b. below) at any time during the two year period beginning on that date [Notwithstanding the foregoing, upon the occurrence of a Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and exercisable as of the Termination Date. In the event that (x) a Change in Control occurs, and (y) this Agreement is not assumed by the surviving corporation or its parent, or the surviving corporation or its parent does not substitute its own option for this Stock Option, then immediately prior to the effective date of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option shall become fully exercisable, if not previously so exercisable.] exercisable. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third One third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the first anniversary of the Date of Grant, provided the Participant is has continuously been employed by (or, if the Participant is a Contractor or an ...Outside Director, is providing services to) the Company or a Subsidiary on through that date. b. An additional one-third one third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second anniversary of the Date of Grant, provided the Participant is has continuously been employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on through that date. c. The remaining one-third one third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is has continuously been employed by (or, the Company through that date. Notwithstanding the foregoing, if the Participant Participant's Termination of Service is a Contractor due to death, Total and Permanent Disability, Retirement or an Outside Director, is providing services to) by action of the Company or a Subsidiary without Cause (as defined in Section 4.b. below) at any time during the two year period beginning on that date [Notwithstanding the foregoing, upon the occurrence of a Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become fully vested and exercisable as of the Termination Date. In the event that (i) a Change in Control occurs, and (ii) this Agreement is not assumed by the surviving corporation or its parent, or the surviving corporation or its parent does not substitute its own option for this Stock Option, then immediately prior to the effective date of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option shall become fully exercisable, if not previously so exercisable.] exercisable. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third (1/3) a.One forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the first one-month anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or... an Outside Director, is providing services to) the Company or a Subsidiary on that date. b. An b.An additional one-third (1/3) one forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second each monthly anniversary of the Date of Grant, Grant thereafter, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. The remaining one-third (1/3) of In the total Optioned Shares shall vest and event that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date [Notwithstanding the foregoing, upon the occurrence of (i) a Change in Control, Control occurs, and (ii) this Agreement is not assumed by the surviving corporation or its parent, or the surviving corporation or its parent does not substitute its own option for this Stock Option, then immediately prior to the effective date of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option shall become fully exercisable, if not previously so exercisable.] exercisable. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third (1/3) a.One forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the first one-month anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or... an Outside Director, is providing services to) the Company or a Subsidiary on that date. b. An b.An additional one-third (1/3) one forty-eighth (1/48) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the second each monthly anniversary of the Date of Grant, Grant thereafter, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. The remaining one-third (1/3) of In the total Optioned Shares shall vest and event that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date [Notwithstanding the foregoing, upon the occurrence of a Change in Control, then immediately prior to the effective date Control occurs, (i) fifty percent (50%) of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option exercisable upon the effective date of the Change in Control and (ii) any remaining Optioned Shares not previously vested shall become fully exercisable, vested and exercisable on the date of the Participant's Termination of Service by the Company without Cause (as defined herein) if not previously so exercisable.] such Termination of Service occurs on or before the first anniversary of the Change in Control's effective date. View More
Vesting Time of Exercise. Except as specifically provided in this Agreement and subject to certain restrictions and conditions set forth in the Plan, the Optioned Shares shall be vested and the Stock Option shall be exercisable as follows: a. One-third (1/3) of the total Optioned Shares (rounded down to the next whole share for any fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the first anniversary of the Date of Grant, provided the Participant is employed by (or, if the P...articipant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. b. An additional one-third One-third (1/3) of the total Optioned Shares (rounded down to the next whole share for any fractional shares) shall vest and that portion of the Stock Option shall become exercisable on the second anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date. c. The remaining one-third (1/3) of the total Optioned Shares shall vest and that portion of the Stock Option shall become exercisable on the third anniversary of the Date of Grant, provided the Participant is employed by (or, if the Participant is a Contractor or an Outside Director, is providing services to) the Company or a Subsidiary on that date [Notwithstanding date. In the foregoing, upon the occurrence of event that a Change in Control, Control occurs and the Participant's employment with the Company (or its successor) is terminated by the Company without Cause (as defined below) or the Participant for Good Reason (as defined below), then immediately prior to the effective date of such Change in Control, the total Optioned Shares not previously vested shall thereupon immediately become vested and this Stock Option shall become fully exercisable, if not previously so exercisable.] exercisable. Notwithstanding the foregoing, upon the occurrence of a Termination of Service due to the Participant's death or Total and Permanent Disability, all Optioned Shares not previously vested shall immediately become vested and this Stock Option shall become fully exercisable, if not previously so exercisable. View More
