Additional Stock Option Grant Sample Clauses
The Additional Stock Option Grant clause provides for the issuance of extra stock options to an individual, typically an employee or executive, beyond their initial grant. This clause outlines the conditions under which these additional options may be awarded, such as upon achieving certain performance milestones or after a specified period of continued service. Its core practical function is to incentivize and reward ongoing contribution or exceptional performance, thereby aligning the interests of the individual with those of the company and encouraging retention.
Additional Stock Option Grant. The Employee shall be entitled to earn additional ISOs with an exercise price equal to fair market value on the date of grant, and with the most rapid vesting schedule allowable under Code Section 422(d), as follows:
(1) When the Corporation's Shares have traded either (a) over twenty (20) consecutive trading days at a price of at least $3.00 per share, or (b) over a three-month period at an average price of at least $3.00 per share, he shall earn the right to purchase an additional one percent (1%) of the then issued and outstanding Shares.
(2) When the Corporation's Shares have traded either (a) over twenty (20) consecutive trading days at a price of at least $4.00 per share, or (b) over a three-month period at an average price of at least $4.00 per share, he shall earn the right to purchase an additional one percent (1%) of the then issued and outstanding Shares.
(3) When the Corporation's Shares have traded either (a) over twenty (20) consecutive trading days at a price of at least $5.00 per share, or (b) over a three-month period at an average price of at least $5.00 per share, he shall earn the right to purchase an additional two percent (2%) of the then issued and outstanding Shares; provided, however, that if this provision is satisfied on or before the second anniversary of the date of the Agreement, he shall earn the right to purchase four percent (4%) of the Corporation's then issued and outstanding shares (rather than 2%).
(4) When the Corporation's shares have traded either (a) over twenty (20) consecutive trading days at a price of at least $7.00 per share, or (b) over a three-month period at an average price of $7.00 per share, he shall earn the right to purchase an additional three percent (3%) of the then issued and outstanding shares. All stock options granted under this Section II.B. shall vest in full at least thirty (30) days prior to the merger of the Corporation with and into another corporation or sale of all or substantially all of its stock or assets; provided, however, that in the event of such merger or sale, the options shall be earned at any time that the specified price per share is attained (rather than after twenty (20) consecutive trading days at or above the specified price or at or above a specified average price over a thirty (30) day period).
Additional Stock Option Grant. On Closing, ▇▇. ▇▇▇▇▇▇ will receive a non-qualified stock option for 66,000 shares of common stock. All shares issued under this option grant will vest in their entirety on the third anniversary of the Closing. The per share option price will be determined as market value (closing price) on the day of grant. All unvested options shall vest immediately upon the occurrence of any of the following: a Change of Control (as defined above), the termination by the Company of ▇▇. ▇▇▇▇▇▇'▇ employment without cause, ▇▇. ▇▇▇▇▇▇'▇ resignation pursuant to Section 8(b) of this Agreement, ▇▇. ▇▇▇▇▇▇'▇ permanent disability, or ▇▇. ▇▇▇▇▇▇'▇ death. Each such option shall be issued under and pursuant to the Company's Amended and Restated 1994 Long-Term Incentive Plan, with terms and conditions as provided therein except as expressly provided herein.
Additional Stock Option Grant. The Executive shall be eligible to receive additional stock option or other equity incentive grants as determine by the Compensation Committee.
Additional Stock Option Grant. Provided that Executive is still in Company’s employ, Executive shall be granted an additional 24,000 options under the VS Parent, Inc. 2006 Stock Option Plan as provided herein. The options will be granted effective January 1, 2008, based upon the strike price set upon the closing of the Company’s books for FY2007. One half (1/2) of the options will be in Tranche A, and 1/6 will be in each of Tranches B, C and D. If Company shall go public or there is a private sale of the Company in 2007, the grant date shall be prior to the initial public offering or private sale, as applicable. The strike price for the Tranche A options shall be the price established for grants at that point in time, subject to any applicable securities law restrictions and the strike prices for Tranches B, C and D have exercise prices of $20.00, $25.00 and $30.00, respectively or, if higher, the fair market value of the underlying stock of the Company on the day of the grant. In no event shall the strike price of any tranche (A, B, C, or D) be less than the fair market value of the underlying stock on the date that the particular option is granted. The terms and provisions of this grant shall be the same as the Company’s customary stock option grants.
Additional Stock Option Grant. In further consideration of Durham signing this Agreement, and the covenants and releases given herein, on the Effective Date (the “Grant Date”), Crdentia shall ▇▇▇▇▇ ▇▇▇▇▇▇ an option to purchase 1,000,000 shares of Crdentia’s common stock in the form attached hereto as Exhibit B (“Stock Option”), at an exercise price of $0.60 per share or the closing price of Crdentia’s common stock on the Over-the-Counter Bulletin on the Effective Date, whichever is greater. The Stock Option shall be fully vested as of the Grant Date, Durham shall have up to and including the tenth anniversary of the Grant Date to exercise the Stock Option, and the Stock Option will contain a cashless exercise provision. Crdentia will cause the Stock Option and the shares of common stock underlying the Stock Option to be covered by a Registration Statement on Form S-8, to the extent permissible by law and the rules and regulations promulgated by the U.S. Securities and Exchange Commission.
Additional Stock Option Grant. Subject to approval of the Compensation Committee of the Board of Directors, you shall receive the right (the "Option") to purchase 25,000 shares of common stock of the Company at the price to be set forth in the Stock Option Agreement. The Option shall not vest nor be exercisable until six months from the date of this Amendment (the "Blackout Period"). At the expiration of the Blackout Period, the Option shall vest and become exercisable monthly as to approximately 1/42nd of all shares of common stock subject to the Option. The Option is subject to the standard terms and conditions of the Company's Amended and Restated 2000 Stock Incentive Plan, as amended.
Additional Stock Option Grant. On the second business day after the Company releases earnings for the first quarter of fiscal 2014 (the “Grant Date”), the Company shall grant to the Executive a Stock Option covering one hundred thousand (100,000) shares of the common stock of the Company (the “Option”). The Option shall have an exercise price equal to the closing price of the Company’s common stock on the Grant Date, and shall vest, subject to the Executive’s continued employment in good-standing with the Company through the applicable vesting date, on-third on each of the first three anniversaries of the Grant Date. The option shall expire the earlier of (i) five years from the Grant Date or (ii) one year from the date the Executive voluntarily terminates his employment with the Company other than for Good Reason, as defined in this Agreement. The Option shall be represented by a grant letter, the terms of which shall be consistent with this subsection, and shall contain such other terms as are consistent with the Company’s award of stock options to other senior executives of the Company.
Additional Stock Option Grant. Subject to approval of the Compensation Committee of the Board of Directors and the Board of Directors, Executive will be granted an additional stock option (the “Additional Stock Options”) to purchase Five Hundred Thousand (500,000) shares of Company common stock promptly upon the requisite stockholder approval of an increase in the number of shares available for issuance of awards under the Plan (the “Stockholder Approval”). The Company will diligently pursue (i) obtaining the Stockholder Approval; and (ii) registering the shares of Common Stock underlying the Additional Stock Options for resale under a Form S-8 Registration Statement (or otherwise), in each case as quickly as reasonably practicable. The specific vesting terms and exercise price of the Additional Stock Options shall be determined by the Compensation Committee of the Board of Directors and the Board of Directors.
Additional Stock Option Grant. Upon the Effective Date of the Amendment to the Employment Agreement dated on or about December 14, 2016 (the “Amendment Effective Date”), the Company shall grant Executive an option to purchase 70,000 shares of common stock of the Parent at the stock’s closing trading price on such Amendment Effective Date. The option will vest over four (4) years, with 25% of the shares vesting on the one year anniversary of the grant date and the remaining 75% of the shares vesting in equal quarterly installments over the following thirty-six (36) months, in each case subject to Executive’s continued service relationship (which shall include, as applicable, Executive’s service to the Company as a consultant and/or to the Parent on the Board) on each applicable vesting date (the “Additional Stock Option Grant”). Executive’s eligibility for stock options will be governed by the Plan and any associated stock option agreement required to be entered into by Executive and the Parent.
Additional Stock Option Grant. Subject to the approval of the Company’s Board of the Company’s Board of Directors, on or before the first anniversary of the Effective Date, Employee will be granted an option (the “Additional Option”) to purchase at least an additional 500,000 shares of Common Stock. Such option will have an exercise price equal to the closing price of Common Stock on the date of the grant and will vest and become exercisable over four years with 25% vesting on the first anniversary of the date of grant and 6.25% vesting every quarter thereafter. The Additional Option will be subject to the terms and conditions of the Company’s EIP and standard form of Grant Agreement. In addition, Employee will be considered for additional grants of options and equity awards on an annual basis after the first anniversary of the Effective Date on the same terms and conditions as other employees of the Company at the same or similar level, it being understood that the grant of options under this Agreement are not intended to be in lieu of future grants of options.