Future Option Grants Clause Samples
The 'Future Option Grants' clause defines the terms and conditions under which additional stock options may be awarded to an individual or group after the initial grant. Typically, this clause outlines eligibility criteria, the process for determining the number and timing of future grants, and any performance or service requirements that must be met. By establishing a framework for potential future equity awards, this clause incentivizes ongoing performance and retention, while providing clarity and predictability regarding the possibility of receiving further options.
Future Option Grants. In the sole and absolute discretion of the Board of Directors, Executive may become eligible for future option awards on such terms and conditions as the Board directs.
Future Option Grants. The Executive will also be eligible for additional option grants under the Equity Award Plan or any successor thereto; provided, that the making of any such grants, and the terms and conditions applicable thereto, shall be determined by the Board (or the appropriate committee thereof) in its sole discretion.
Future Option Grants. Any options to purchase shares of Common Stock granted by the Company to officers, directors or employees of, or consultants or advisors to, the Company from and after the date hereof through the Option Expiration Date shall provide that such options may not be exercised on the Option Closing Date (as defined in the Depositary Agreement).
Future Option Grants. Executive will be eligible to be granted options to purchase Common Stock of the Company commencing on the first anniversary of his employment, at times and in amounts to be determined in the sole discretion of the Compensation Committee of the Board.
Future Option Grants. Parent agrees that it will not issue any options, warrants or other rights to acquire Common Stock (including securities convertible into shares of Common Stock) after the Closing Date unless such options, warrants or other rights have an exercise price per share of Common Stock of no less than the market value per share of the Common Stock at the time of grant or $1.00 per share, whichever is greater. Notwithstanding the foregoing, Parent shall be entitled to grant to (a) ▇▇▇▇▇▇▇ ▇'▇▇▇▇▇ options to purchase 100,000 shares of Common Stock at an exercise price of $.75 per share, (b) ▇▇▇▇▇▇▇ ▇▇▇▇▇ options to purchase 100,000 shares of Common Stock at an exercise price of $.65 per share, (c) ▇▇▇▇▇▇▇▇ Surety IBC warrants to purchase Common Stock at an exercise price of $.75 per share in accordance with the terms of the existing agreement between Parent and ▇▇▇▇▇▇▇▇ Securities IBC and (d) ▇▇▇▇▇▇▇▇▇ Securities, Inc. warrants to purchase 18,750 shares of Common Stock at an exercise price of $.60 per share pursuant to the existing agreement between Parent and ▇▇▇▇▇▇▇▇▇ Securities, Inc. Additionally, nothing in this Agreement shall prohibit Parent from extending the exercise period of the following options and warrants; provided that such extension is for no more than three years and is approved by the Board of Directors of Parent after the election of the Investor Nominees to such Board: (i) options to purchase 321,931 shares of Common Stock at an exercise price of $.3728 previously granted to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇; (ii) options to purchase 321,931 shares of Common Stock at an exercise price of $.3728 previously granted to A. ▇▇▇▇ ▇▇▇▇▇▇▇; (iii) options to purchase 40,242 shares of Common Stock at an exercise price of $.6212 previously granted to ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇; (iv) warrants to purchase 1,207,240 shares of Common Stock at an exercise price of $.7455 previously granted to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇; (v) warrants to purchase 1,207,240 shares of Common Stock at an exercise price of $.7455 previously granted to WCI, Inc.; and (vi) warrants to purchase 603,620 shares of Common Stock at an exercise price of $.7455 previously granted to A. ▇▇▇▇ ▇▇▇▇▇▇▇.
Future Option Grants. In the sole and absolute discretion of the Compensation Committee, ECB may become eligible for future option awards on such terms and conditions as the Committee directs, and on the same basis as other officers of the Company and shall not be excluded from any general stock option programs that include one or more Officers and / or directors of the Company.
Future Option Grants. During the term of his service as a director, the Executive will be entitled to grants of stock options made to other continuing non-employee directors in amounts and on the same terms and conditions as grants to such other non-employee directors.
Future Option Grants. The Company shall grant Executive an option in January of each subsequent year during the Term. It is the intention of the parties that such future grants for the two remaining years of the Term shall be made to Executive consistent with then-prevailing market conditions, but generally such future grants will be for no less than the number of Units (adjusted as necessary for any dilution, stock dividend, stock split, stock combination, spin-off, split-off, split-up, reclassification, recapitalization or any transaction similar thereto), and on terms no less favorable than those applicable to, the Option provided for in Section 2.04(b) and contained in Exhibit B.
Future Option Grants. Executive acknowledges that the next scheduled equity award date for all senior executives is September 2005, but the COMMITTEE is not precluded from making earlier awards if it chooses to do so in its sole discretion. The COMMITTEE will determine in its discretion whether Executive will be granted any option or options and the terms of any such option or options in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.
Future Option Grants. The Executive may also participate in the Company's existing stock option program for its "key" management team. Under this program key executives are granted options that vest over a five (5)-year period. These options are designed to generate a value at the end of the five (5)-period that equals the initial year's base salary. The program assumes that the Company's earnings grow at a rate of twenty-five percent (25%) per year during the five (5)-year period. Options awarded under this program are within the sole discretion of and are subject to the approval of the Board of Directors.