Grant of Initial Options Sample Clauses

Grant of Initial Options. In connection with the execution and delivery of this Agreement by the Employee, the Company is granting to the Employee options ("Initial Options") to purchase 350,000 shares of Company Common Stock, $.001 par value ("Common Stock"), at a purchase price of $10.00 per share, of which options to purchase 100,000 shares of Common Stock shall vest immediately and options to purchase the remaining 250,000 shares of Common Stock will vest in thirty-six equal increments over the thirty-six month period beginning on the first anniversary of the Commencement Date, all as provided in the Stock Option Agreements of even date herewith between the Company and the Employee.
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Grant of Initial Options. The Company shall grant to the Executive nonqualified options to purchase 2,234,559 shares of the Company's common stock ("Initial Options"). The Initial Options constituting Full Price Options (as defined below) shall be granted as of May 5, 1999. The Initial Options constituting Discounted Options (as defined below) shall be granted as of January 21, 2000 (or earlier as provided in Section (f)) unless the Executive provides a Notice of Termination before such date.
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Grant of Initial Options. In connection with the execution and delivery of this Agreement by the Employee, the Company is granting to the Employee options ("Initial Options") to purchase 100,000 shares of Company Common Stock, $.001 par value ("Common Stock"), at a purchase price equal to the Fair Market Value (as defined in (d) below) on the Commencement Date, of which options to purchase 25% of such shares of Common Stock shall vest on the first anniversary of the Commencement Date and options to purchase the remaining shares of Common Stock shall vest in thirty-six equal increments over the thirty-six month period beginning at the end of the month following the first anniversary of the Commencement Date, all as provided in the Stock Option Agreement of even date herewith between the Company and the Employee.
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Grant of Initial Options. In connection with the execution and delivery of this Agreement by the Employee, the Company is granting to the Employee options ("Initial Options") to purchase 250,000 shares of Company Common Stock, $.001 par value ("Common Stock"), at a purchase price equal to the price per share of Common Stock sold in the Company's upcoming initial public offering or, in the event no such public offering occurs prior to the first anniversary of the Commencement Date, $10.00 per share, of which options to purchase 25% of such shares of Common Stock shall vest on the first anniversary of the Commencement Date and options to purchase the remaining shares of Common Stock will vest in thirty-six equal increments over the thirty-six month period beginning on the first anniversary of the Commencement Date. All terms and conditions, including those referred to herein, shall be provided in Stock Option Agreements of even date herewith between the Company and the Employee.
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Grant of Initial Options. In connection with the execution and delivery of this Agreement by the Employee, the Company is granting to the Employee options ("Initial Options") to purchase 750,000 shares (as adjusted equitably for stock dividends, stock splits, combinations, etc.) of Company Common Stock, $.001 par value ("Common Stock"), at a purchase price $6.00 (as adjusted equitably for stock dividends, stock splits, combinations, etc.), of which options to purchase 25% of such shares of Common Stock shall vest on the Commencement Date and options to purchase the remaining shares of Common Stock will vest in thirty-six equal increments over the thirty-six month period beginning on the first anniversary of the Commencement Date. Further, the Initial Options will contain provisions providing that (i) if the Employee's employment hereunder is terminated Without Cause or for Good Reason (each, as defined in Section 7 hereof) during the Employment Term, all of the previously unexercisable portion of the Initial Options shall become immediately vested; and (ii) if there is a Change of Control (as defined in (e) below) of the Company during the Employment Term, all of the previously unexercisable portion of the Initial Options shall become immediately vested.
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Related to Grant of Initial Options

  • Grant of Options Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant a NON-QUALIFIED STOCK OPTION (the “Option”) with respect to ___________ shares of Common Stock of the Company.

  • Additional Options The NYS Contract Price for Additional Options offered under the Contract in accordance with Section III.2.7 Additional Options, shall be the Additional Options NYS Discount listed on the Contract Pricelist, or higher, applied to the MSRP on the current OEM Data Book or Contractor-Published Pricelist, as applicable. See Section III.1.2

  • Renewal Options a. Tenant shall have the right and option to renew the Lease (“Renewal Option”) for two (2) successive renewal periods of five (5) years each (each, an “Option Term”); provided, however, the Renewal Option is contingent upon the following: (i) there is not an Event of Default beyond all applicable cure period(s) at the time Tenant gives Landlord notice of Tenant’s intention to exercise the Renewal Option or at the expiration of the current Term; (ii) no event has occurred that upon notice or the passage of time would constitute an Event of Default, unless Landlord has given notice of default and Tenant is diligently attempting to cure such event; and (iii) Tenant is occupying the Premises. Following expiration of the final Option Term allowable hereunder, Tenant shall have no further right to renew the Lease pursuant to this Section 5. b. Tenant shall exercise the Renewal Option by giving Landlord notice at least one hundred eighty (180) days prior to the expiration of the current Term. If Tenant fails to give notice to Landlord prior to the 180-day period, then Tenant shall forfeit the Renewal Option. If Tenant exercises the Renewal Option, then during the Option Term, Landlord and Tenant’s respective rights, duties and obligations shall be governed by the terms and conditions of the Lease, except as provided otherwise in this Section. Time is of the essence in exercising the Renewal Option. c. The Base Rental for an Option Term shall be the Fair Market Rental Rate. “Fair Market Rental Rate” shall mean the market rental rate for the time period such determination is being made for office space in same class office buildings in the area of Franklin, Tennessee (the “Area”) of comparable condition for space of equivalent quality, size, utility, and location. Such determination shall take into account all relevant factors, including, without limitation, the following matters: the credit standing of Tenant; the length of the term; the fact that Landlord will experience no vacancy period and that Tenant will not suffer the costs and business interruption associated with moving its offices and negotiating a new lease; construction allowances and other tenant concessions that would be available to tenants comparable to Tenant in the Area (such as moving expense allowance, free rent periods, and lease assumptions and take over provisions, if any, but specifically excluding the value of improvements installed in the Premises at Tenant’s cost), and whether adjustments are then being made in determining the rental rates for renewals in the Area because of concessions being offered by Landlord to Tenant (or the lack thereof for the Option Term in question). For purposes of such calculation, it will only be assumed that Landlord is paying a representative of Tenant a brokerage commission in connection with the Option Term in question if Landlord is in fact paying a brokerage commission to a representative of Tenant in connection with the applicable Option Term.

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.