Future Options Sample Clauses

Future Options. Executive shall be eligible, at the sole discretion of the Board, for additional annual stock option grants (the "Future Options") pursuant to one or more additional option agreements. Any Future Options will be granted under and subject to the terms and conditions of a stock option plan of the Company as then in effect (as of the date of any grant, an "Effective Option Plan"). The terms and conditions of such Future Options are intended to be such that Executive shall receive a compensation package commensurate with executives performing the same functions as Executives for businesses similar to the Company.

Future Options. Discontinue Use of System: If at the end of the contract period, the County decides to no longer pursue the DHD system, Consultant will release data contained in DHD along with information on relationships in the data to a third party format (i.e.: Access, Excel, CSV, etc.) with no further obligation to County. Data will be released within thirty (30) business days after the date of contract termination or date of payment of any outstanding invoice, whichever is later.

Future Options. For each year that the Company continues to employ the Optionee under the Employment Agreement beyond the initial three-year term thereof (the "Initial Term of Employment"), the Company shall grant to the Optionee the option (the "Future Option") to purchase that number of shares of the Company's Common Stock which the Company's Board of Directors, through the exercise of its discretion, may set; provided, however, that for each year of the Optionee's employment beyond the Initial Term of Employment, the Company shall grant to the Optionee a Future Option to purchase a minimum of 100,000 shares of the Company's Common Stock. Future Options shall vest one year after the date on which they were granted (the "Future Date of Grant") or sooner as may be provided in the Future Option grant agreement. The exercise price per share of Common Stock covered by any Future Option (the "Future Option Price") shall be the closing price of the Company's Common Stock on the Nasdaq on the Future Date of Grant, or, in the event the Future Date of Grant is a date on which no trading occurred on the Nasdaq, the Future Option Price shall be the closing price of the Company's Common Stock on the Nasdaq on the trading date immediately preceding the Future Date of Grant.

Future Options. Any other equity award made to Executive following the Effective Date in addition to the Option which is subject to vesting or forfeiture (each such equity award, a "Future Option") shall also vest immediately with respect to 100% of any then unvcsted or unreleased shares upon a Termination Other Than For Cause.

Future Options. Any options granted to Employee after October 1, 2008 shall be subject to the acceleration provisions set forth below. “If Employee’s employment with the Company is terminated without Cause on or within twelve (12) months following the effective date of a Change of Control, then, subject to the requirements set forth in Section 7.2(a) and (b) of the Initial Agreement and provided that the release described in such Section 7.2(b) has become effective in accordance with its terms prior to the 30th day following the effective date of such termination, then Employee shall become vested in 50% of the shares subject to options to purchase Company common stock then held by him which were initially granted to Employee after October 1, 2008. For purposes of the foregoing, a termination of Employee’s employment shall be “without Cause” if the Company unilaterally terminates Employee’s employment with the Company for any reason other than Cause; provided, however, that termination of Employee’s employment shall not be “without Cause” for these purposes if it results from the death or disability of Employee. A termination shall also be “without Cause” if (i) during Employee’s employment, the Company changes Employee’s title or position without Employee's written permission, such that he experiences a material diminution in his authority, duties or responsibilities (a “Material Adverse Change”), (ii) within 10 days of the effective date of the Material Adverse Change, Employee provides written notice to the Board of Directors of Employee’s intent to voluntarily resign from employment with the Company due to the Material Adverse Change if such Material Adverse Change is not cured within fifteen days of the Board’s receipt of such notice, (iii) the Board does not cure the Material Adverse Change within fifteen days of its receipt of such notice, and (iv) Employee voluntarily resigns no later than the end of business on the fifteenth day following the Board’s receipt of such notice.”

Future Options. Subject to the terms of this Addendum, Heritage Global shall issue to certain NLEX employees (including Executives) stock options to purchase an aggregate 600,000 shares of Heritage Global common stock, by issuing options to acquire 200,000 of such shares on each of the first three anniversaries of the Effective Date. Such options shall be issued under the 2010 Plan, and/or the 2016 Plan, and in the case of options issued to Executives, outside either such plan, as determined by the Board. Not later than sixty (60) days prior to each of the first three (3) anniversaries of the Effective Date and in accordance with Section 2, Executives shall recommend to the Board the NLEX employees (including Executives) to be entitled to a stock option under this Section 4(c), and the number of shares of Heritage Global common stock to be subject to each such option.

Future Options. The purchase price for shares subject to options which may be granted hereunder with respect to Meetings shall be equal to the last trade price per share of Common Stock on the date of the Meeting, or, if no trade occurs on such date, then the purchase price shall be the mean between the bid and asked price on such date. If the date of any Meeting is not a business day, then the purchase price shall be established as described in the preceding sentence based upon the trading activity of Common Stock for the business day next preceding the date of such Meeting.

Future Options. For the calendar years 1996 and 1997, the Company grants to Wils▇▇ ▇▇▇ right and option to purchase 17,187 shares of Stock per year at the Purchase Price for each year in which he receives a Performance Bonus (the "Future Options," and together with the Vested Options, the "Options" or "Option").

Future Options. The Company will request that its Board of Directors grant Employee options to purchase another Twenty Five Thousand (25,000) shares of common stock, at the then Fair Market Price, at such time as the Board of Directors shall vote to increase the number of shares allocated to employee stock option plans by at least 300,000 shares. Company management will use its best efforts to see to it that the vesting schedule for these options is substantially the same as for the options above.