Grant of Nonqualified Stock Option Sample Clauses
The Grant of Nonqualified Stock Option clause establishes the terms under which an individual is given the right to purchase a specified number of company shares at a predetermined price, without qualifying for special tax treatment under IRS rules. Typically, this clause outlines the number of options granted, the exercise price, and any vesting schedule or conditions that must be met before the options can be exercised. Its core function is to provide a mechanism for incentivizing employees or service providers by offering potential equity participation, while clearly defining the terms and limitations of the stock option grant.
Grant of Nonqualified Stock Option. As of the Date of Grant identified above, the Company grants to Option Holder, subject to the terms and conditions set forth herein and in the Plan, the right, privilege and option (the “Option”) to purchase that number of Shares of Stock identified above opposite the heading “Number of Shares to Which Option Relates” (the “Option Shares”), at the per Share price specified above opposite the heading “Option Price per Share”.
Grant of Nonqualified Stock Option. The Company hereby grants to the Eligible Participant a nonqualified stock option (the “Nonqualified Stock Option”) to purchase shares of Common Stock (the “Shares” ) at the purchase price of $ per share in the manner and subject to the terms and conditions contained herein and in the Plan.
Grant of Nonqualified Stock Option. Subject to all of the terms, conditions and provisions of the Plan and of this Agreement, the Company hereby grants to Grantee under Section 7 of the Plan a nonqualified stock option pursuant to which Grantee will have the right and option under the Plan to purchase from the Company all or any part of an aggregate of shares of the common stock of the Company, par value one cent ($0.01) per share (the “Common Stock”), which shares will consist of authorized but unissued shares or issued shares reacquired by the Company. This option is not intended to be an Incentive Stock Option, as defined in the Plan.
Grant of Nonqualified Stock Option. The Company hereby grants to the Participant a Nonqualified Stock Option (the “Option”) that provides the Participant the right and option to purchase __________ Shares at the purchase price (the “Option Price”) of $_______ per Share, in accordance with the provisions of this Agreement and the terms of the MRC Global Inc. 2011 Omnibus Incentive Plan (the “Plan”). The Option shall be subject to the execution and return of this Agreement by the Participant (or the Participant’s estate, if applicable) to the Company as provided in Section 8 hereof. The Option is made under and pursuant to the Plan, which Plan is incorporated herein by reference, and the Option is subject to all of the provisions thereof. Capitalized terms used herein without definition shall have the same meanings given such terms in the Plan. The Option is not intended to constitute an “incentive stock option” as that term is used in Code Section 422.
Grant of Nonqualified Stock Option. Elanco, an Indiana corporation (“Elanco” or the “Company”), has granted to the Eligible Individual who has received this Nonqualified Stock Option Award Agreement (the “Grantee”) an award of stock options (the “Option” or the “Award”) with respect to the number of shares of Elanco Common Stock (the “Shares”) and the option price per Share (the “Option Price”) set forth on page 1 of this document pursuant to and subject to the terms and conditions set forth in the 2018 Elanco Stock Plan (the “Plan”) and to the terms and conditions set forth in this Nonqualified Stock Option Award Agreement, including all appendices, exhibits and addenda hereto (the “Award Agreement”). In the event of any conflict between the terms of the Plan and this Award Agreement, the terms of the Plan shall govern. Any capitalized terms used but not defined in this Award Agreement shall have the meanings set forth in the Plan.
Grant of Nonqualified Stock Option. Subject to the terms and conditions set forth herein, the Company grants to the Optionee, effective as of the day and year first above written (hereinafter called the "date of grant"), an option (hereinafter called the "option") to purchase from the Company, from time to time, up to but not exceeding in the aggregate 50,000 shares of the Common Stock of the Company to be issued upon the exercise hereof, fully paid and nonassessable. The option shall become exercisable as follows:
(i) as to one-quarter of the total number of shares covered by the option, i.e., 12,500 shares, on the date of grant;
(ii) as to an additional one-quarter of the total number of shares covered by the option, i.e., 12,500 shares, on December 31, 2000 (but only if the Optionee does not cease to be the Chairman of the Board of Directors of the Company prior to that date);
(iii) as to an additional one-quarter of the total number of shares covered by the option, i.e., 12,500 shares, on December 31, 2001 (but only if the Optionee does not cease to be the Chairman of the Board of Directors of the Company prior to that date); and
(iv) as to the remaining one-quarter of the total number of shares covered by the option, i.e., 12,500 shares, on December 31, 2002 (but only if the Optionee does not cease to be the Chairman of the Board of Directors of the Company prior to that date). Shares not purchased on the above dates shall accumulate and remain exercisable for the period hereinafter provided. Notwithstanding the foregoing, (i) the option shall be exercisable as to the total number of shares covered by the option, i.e., 50,000 shares, immediately upon the occurrence of a "Change in Control of the Company" as defined in Section 7 of this Agreement (but only if the Optionee does not cease to be the Chairman of the Board of Directors of the Company prior to such "Change in Control of the Company"), and (ii) the Board of Directors of the Company may at any time in its sole discretion accelerate the time that the option or any portion thereof becomes exercisable. The option, to the extent then exercisable, shall remain exercisable until the earlier of ten (10) years from the date of grant or the expiration of the three (3) year period described in Section 5(a) of this Agreement. The option is subject to the restriction that it be exercised as set forth in Section 4 of this Agreement, and to other terms and conditions as set forth in Section 5 of this Agreement.
Grant of Nonqualified Stock Option. Pursuant to the provisions of the Plan, the Company hereby grants to the Optionee, subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, an Option to purchase [Number of Shares] ([ ]) shares of the Company's common stock, par value $0.01 per share ("Stock"), at the purchase price of $[ ] per share, such Option to be exercisable and exercised as hereinafter provided. The Option granted under this Part II is not an incentive stock option within the meaning of Section 422 of the Code.
Grant of Nonqualified Stock Option. Subject to the terms and conditions hereinafter set forth, the Company, with the approval and at the direction of the Committee, hereby grants to the Grantee, as of the Date of Grant, an option to purchase a total of up to 2,250,000 shares of Stock, including (i) up to 375,000 shares of Stock at a price of $0.50 per share and (ii) up to 1,875,000 shares of Stock at a price of $1.00 per share. Such option is hereinafter referred to as the “Option” and the shares of stock purchasable upon exercise of the Option are hereinafter sometimes referred to as the “Option Shares.”
Grant of Nonqualified Stock Option. The Company hereby awards to Optionee an option to purchase ________ shares of Common Stock of the Company (the “Award”) on the following terms:
2.1 20__, is the date of grant of the Option (“Date of Award”).
2.2 The purchase price of the shares of Common Stock subject to the Option shall be $__.__ per share (the “Exercise Price”), which was the closing price of the Company’s common stock on the OTC Pink Market on the date of Award, as reported by the OTC Markets.
Grant of Nonqualified Stock Option. Subject to the terms and conditions set forth herein, the Company grants to the Participant a Nonqualified Stock Option to purchase from the Company ________ Shares at an Option Price of $______ per Share, subject to adjustment as provided in Section 8 hereof. This Option is exercisable in accordance with the following schedule: as to: any time after: ___________Shares ______________ an additional _______ Shares ______________ an additional ________ Shares ______________ an additional ______ Shares ______________ This Option shall expire on _____ __, _____; provided, however, that (i) if the Participant's employment with the Company is terminated prior to the exercise in full of this Option, then the rules of Section 7 shall apply, and (ii) notwithstanding anything to the contrary herein, the Company shall not be required to issue or transfer any certificates for Shares purchased upon exercise of this Option until all applicable requirements of law have been complied with and, if applicable, such Shares shall have been duly listed on any securities exchange on which Shares may then be listed.