Common use of Grant of Non-Qualified Stock Option Clause in Contracts

Grant of Non-Qualified Stock Option. PRGX hereby grants to Executive the right and option to purchase from PRGX, on the terms and subject to the conditions set forth in this Option Agreement, 2,000,000 shares of Common Stock (such shares, the "Option Shares"; such option, the "Option"). The date of grant of the Option (the "Grant Date") is ________ __, 2005. THE OPTION IS NOT TO CONSTITUTE AN INCENTIVE STOCK OPTION WITHIN THE MEANING OF SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. Of the 2,000,000 Option Shares, 500,000 Option Shares are time-vested Option Shares (the "Time-Vested Option Shares") and 1,500,000 Option Shares are performance-based Option Shares (the "Performance-Based Option Shares").

Appears in 1 contract

Sources: Employment Agreement (PRG Schultz International Inc)

Grant of Non-Qualified Stock Option. PRGX hereby grants to Executive Director the right and option to purchase from PRGX, on the terms and subject to the conditions set forth in this Option Agreement, 2,000,000 450,000 shares of Common Stock (such shares, the "Option Shares"; such option, the "Option"). The date of grant of the Option (the "Grant Date") is ________ __, 2005. THE OPTION IS NOT TO CONSTITUTE AN INCENTIVE STOCK OPTION WITHIN THE MEANING OF SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. Of the 2,000,000 450,000 Option Shares, 500,000 150,000 Option Shares are time-vested Option Shares (the "Time-Vested Option Shares") and 1,500,000 300,000 Option Shares are performance-based Option Shares (the "Performance-Based Option Shares").

Appears in 1 contract

Sources: Retainer Agreement (PRG Schultz International Inc)

Grant of Non-Qualified Stock Option. PRGX hereby grants to Executive the right and option to purchase from PRGX, on the terms and subject to the conditions set forth in this Option Agreement, 2,000,000 500,000 shares of Common Stock (such shares, the "Option Shares"; such option, the "Option"). The date of grant of the Option (the "Grant Date") is ________ __November 11, 2005. THE OPTION IS NOT TO CONSTITUTE AN INCENTIVE STOCK OPTION WITHIN THE MEANING OF SECTION 422 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. Of the 2,000,000 500,000 Option Shares, 500,000 125,000 Option Shares are time-vested Option Shares (the "Time-Vested Option Shares") and 1,500,000 375,000 Option Shares are performance-based Option Shares (the "Performance-Based Option Shares").

Appears in 1 contract

Sources: Employment Agreement (PRG Schultz International Inc)