Grant of Option; Vesting Clause Samples
Grant of Option; Vesting. (a) Subject to the terms and conditions of this Agreement, the Sirius XM Radio 2009 Long-Term Stock Incentive Plan (the “Plan”), and the Employment Agreement, dated November 18, 2004, between the Company and the Employee (as amended by the letter agreement dated June 30, 2009, the “Employment Agreement”), the Company hereby grants to the Employee the right and option (this “Option”) to purchase up to one hundred twenty million (120,000,000) shares (the “Shares”) of common stock, par value $0.001 per share, of the Company at a price per share of $0.430 (the “Exercise Price”). This Option is not intended to qualify as an Incentive Stock Option for purposes of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). In the case of any stock split, stock dividend or like change in the Shares occurring after the date hereof, the number of Shares and the Exercise Price shall be adjusted as set forth in Section 4(b) of the Plan.
(b) Subject to the terms of this Agreement, this Option shall vest and become exercisable in four equal installments on each of December 31, 2010, December 31, 2011, June 30, 2012 and December 31, 2012.
(c) If the Employee’s employment with the Company terminates for any reason, this Option, to the extent not then vested, shall immediately terminate without consideration; provided that if the Employee’s employment is terminated (x) due to death or Disability (as defined in the Employment Agreement), (y) by the Company without Cause (as defined in the Employment Agreement), or (z) by the Employee for Good Reason (as defined in the Employment Agreement), the unvested portion of this Option, to the extent not previously cancelled or forfeited, shall immediately become vested and exercisable. Notwithstanding the foregoing, all unvested outstanding Options shall vest in full and become exercisable upon a Change of Control (as defined in the Plan).
Grant of Option; Vesting. (a) Subject to the terms and conditions of this Agreement and the Sirius XM Radio Inc. 2009 Long-Term Stock Incentive Plan (the “Plan”), the Company hereby grants to the Employee the right and option (this “Option”) to purchase up to shares (the “Shares”) of common stock, par value $0.001 per share, of the Company at a price per share of , the closing price of such common stock on The Nasdaq Global Select Market on [[INSERT DATE OF CLOSING PRICE]] (the “Exercise Price”). This Option is not intended to qualify as an Incentive Stock Option for purposes of Section 422 of the Internal Revenue Code of 1986, as amended. In the case of any stock split, stock dividend or like change in the Shares occurring after the date hereof, the number of Shares and the Exercise Price shall be adjusted as set forth in Section 4(b) of the Plan. Capitalized terms not otherwise defined herein have the meanings assigned to them in the Plan.
(b) Subject to the terms and conditions of this Section 1(b), this Option shall vest and be exercisable as follows:
(i) Shares shall vest and become exercisable on August , 2012 if the Employee continues to be employed by the Company on August , 2012;
(ii) Shares shall vest and become exercisable on August , 2013 if the Employee continues to be employed by the Company on August , 2013;
(iii) Shares shall vest and become exercisable on August , 2014 if the Employee continues to be employed by the Company on August , 2014; and
(iv) Shares shall vest and become exercisable on August , 2015 if the Employee continues to be employed by the Company on August , 2015.
Grant of Option; Vesting. The Company hereby grants to Director the option to purchase, as hereinafter set forth, 20,000 shares of common stock of the Company at the exercise price of $15.75 per share. Except as otherwise expressly provided in this Agreement, the option will vest and become exercisable in four equal components of 5,000 shares on each of the following dates: (i) the date of the general meeting of the Company's stockholders next following the date of this Agreement that is held in calendar year 1999, provided Director is still a director of the Company on such date; (ii) the date of the annual general meeting of the Company's stockholders in calendar year 2000, provided Director is still a director of the Company on such date; (iii) the date of the annual general meeting of the Company's stockholders in calendar year 2001, provided Director is still a director of the Company on such date; and (iv) the date of the annual general meeting of the Company's stockholders in calendar year 2002, provided Director is still a director of the Company on such date. The grant of the option is subject to and contingent upon the approval of the stockholders of the Company at the Stockholders' Meeting.
Grant of Option; Vesting. 3.1 Subject to this Agreement and the Plan, the Company shall grant to the Employee an option to purchase ___ shares of Common Stock of the Company, par value $0.0017 each (the "SHARES") at an exercise price of $_______ per share (the "OPTION"), at the time and in the manner hereinafter provided. The term of the Option shall be 8 years from _____________, or such shorter period as is prescribed in Section 3.3 below.
3.2 Subject to the provisions of Section 3.3 below, the Option may exercised by the Employee, in whole or in part, according to the following vesting schedule: __% of the Shares subject to the Option shall vest _______ (___) months after _______, additional __% of the Shares subject to the Option shall vest _________ (__) months following such date; additional __% of the Shares subject to the Option shall vest ________ (__) months after such date; and additional __% of the Shares subject to the Option shall vest ________ (__) months after such date, subject to the Employee's continuing employment with the Company or any Related Company on such dates.
3.3 The consideration for the exercise of the Option shall be paid on the date of the exercise of the Option. The Option shall be exercisable by the Employee in progressive stages on the exercise dates as aforesaid, but in no event may the Optionee exercise this Option after the term as provided for in Section 3.1 above and PROVIDED THAT the Employee shall have been continuously employed by the Company and/or a Related Company, from __________ until such date of exercise. In the event of termination of the Employee's employment by the Company and/or a Related Company for any reason other than for Cause (as such term is defined in Section 7.7 of the Plan) and subject to the provisions of Section 7.7 of the Plan, prior to the complete exercise of the Option, the Employee may exercise the Option within thirty (30) days following the earlier of such termination or notice of termination, to the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of the Option as prescribed in this Agreement). Notwithstanding any of the abovementioned, in the event that the employment of the Employee with the Company and/or a Related Company is terminated for Cause, any unexercised portion of the Option shall immediately expire and be of no further force or effect upon the earlier of such termination or notice of termination.
Grant of Option; Vesting. (a) Subject to the terms and conditions of this Agreement and the Sirius XM Radio 2009 Long-Term Stock Incentive Plan (the “Plan”), the Company hereby grants to the Director the right and option (this “Option”) to purchase up to [ ] ( ) shares (the “Shares”) of common stock, par value $0.001 per share, of the Company at a price per share of $[ ] (the “Exercise Price”). This Option is not intended to qualify as an Incentive Stock Option for purposes of Section 422 of the Internal Revenue Code of 1986, as amended. In the case of any stock split, stock dividend or like change in the Shares occurring after the date hereof, the number of Shares and the Exercise Price shall be adjusted as set forth in Section 4(b) of the Plan.
(b) The right and option to purchase up to up to [ ]( ) Shares shall vest and be exercisable as follows:
(i) [ ] ( ) Shares shall vest and become exercisable on , 2012;
(ii) [ ] ( ) Shares shall vest and become exercisable on , 2013;
(iii) [ ] ( ) Shares shall vest and become exercisable on , 2014; and
(iv) [ ] ( ) Shares shall vest and become exercisable on , 2015.
Grant of Option; Vesting. Subject to the terms and conditions set forth in the Plan and herein, the Company grants to the Participant an Option to purchase from the Company [ ] shares of Class D Common Stock (“Stock”) at a price of [$ ] per share, subject to adjustment as provided in Section 3.3. of the Plan. The term of this Option commences on , 20 (the “Grant Date”) and will expire on tenth anniversary of the Grant Date (the “Expiration Date”), unless it expires sooner pursuant to Paragraph 6. This Option will vest and become exercisable as follows: On and After Number of Shares Vested [1st Anniversary of Grant Date] [25%] Shares [2nd Anniversary of Grant Date] Additional [25%] Shares [3rd Anniversary of Grant Date] Additional [25%] Shares [4th Anniversary of Grant Date] Additional [25%] Shares
Grant of Option; Vesting. (a) Subject to the terms and conditions of this Agreement and the Xiao-I Corporation 2023 Share Incentive Plan (the “Plan”), the Company hereby grants to the Optionee the right and option (this “Option”) to purchase all or any part of an aggregate of _________________________ (____) American Depository Shares (the “Shares”) of the Company, at a price per share of _________________ [currency], which is not less than one hundred percent (100%) of the Fair Market Value of an American Depository Share of the Company on the date the Option is granted (the “Exercise Price”). In the case of change in the capital structure of the Company occurring after the date hereof, the number of Shares and the Exercise Price may be adjusted as set forth in Article 9 of the Plan, as applicable.
(b) Subject to the terms of this Agreement, this Option shall vest and become exercisable in the following amounts on each of the following dates: ____% on _____________, 20___; ____% on _________________, 20___; and ____% on _____________, 20___.
(c) Except as provided in Section 2 of this Agreement, if the Optionee’s employment or service with the Company terminates for any reason, this Option, to the extent not then vested, shall immediately terminate without consideration.
Grant of Option; Vesting. 2.1. Subject to this Agreement and the Plan, the Corporation shall grant to the Trustee for the benefit of the Grantee, a CGO Approved 102 Option (the “Option”) to purchase [ ] ( ) Shares of Common Stock of the Corporation, par value $0.01 each (the “Shares”), at an exercise price equal to [ ], at the time and in the manner hereinafter provided.
2.2. The Option Exercise Price shall be paid on the date of the exercise thereof.
2.3. The term of the Option shall be ten (10) years from the date hereof or such shorter period as is prescribed herein or in the Plan (the “Term”).
2.4. The Option may be exercised during the Term, in whole or in part, by the Trustee in favor of the Grantee, pursuant to the Grantee’s instructions. The Option shall vest as follows: [ ]. The consideration shall be paid on the date of the exercise of the Option. The Option shall be exercisable by the Trustee on behalf of the Grantee in progressive stages on the exercise dates as aforesaid, provided, that the Grantee shall have been continuously engaged with the Corporation and/or a Related Company, from the date hereof until each such date of exercise.
2.5. In the event that the Grantee’s engagement with the Corporation is terminated, then the provisions of Section 9.6 of the Plan shall apply.
2.6. A Grantee who desires that the Trustee exercise the Option granted to the Trustee on his behalf shall so instruct the Trustee in writing in the form attached hereto as Exhibit B or in such other form as shall be approved by the Board from time to time. The notice shall be accompanied by payment of the full Option Exercise Price. A certificate for the purchased Shares shall be issued in the name of the Trustee for the benefit of the Grantee and according to applicable law may bear a restrictive legend.
Grant of Option; Vesting. Subject to the terms and conditions hereinafter set forth, Company, with the approval and at the direction of the Board, hereby grants to the Grantee, as of the Date of Grant, an option to purchase up to __________ shares of Stock at a price of $_________ per share, the fair market value of such shares at the time of the grant. 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." The Option to purchase the Option Shares shall vest as follows:_________________________________________________. The vesting shall occur only if the Grantee on the date of the vesting has continuously served as an employee, officer or director of the Company since the Date of Grant.
Grant of Option; Vesting. (a) Subject to the terms and conditions of this Agreement and the Fox Factory Holding Corp. 2013 Omnibus Plan (as it may be amended and/or restated, the “Plan”), the Company hereby grants to the Employee the right and option (this “Option”) to purchase all or any part of an aggregate of ( ) shares (the “Shares”) of Common Stock, par value $0.001 per share, of the Company at a price per Share of $ , which shall not be less than one hundred percent (100%) of the Fair Market Value of a Share of the Common Stock of the Company on the Grant Date; and the Option price for Options granted to any Ten Percent Shareholder shall be at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock on the Grant Date (collectively, the “Exercise Price”). This Option is intended to qualify as an Incentive Stock Option (“ISO”) for purposes of Section 422 of the Code. In the case of any stock split, stock dividend, or like change in the Shares occurring after the date hereof, the number of Shares and the Exercise Price are subject to adjustment as set forth in Section 4(b) of the Plan.
(b) Subject to the terms of this Agreement, this Option shall vest and become exercisable in installments on each of .
(c) Except as provided in Section 2 of this Agreement, if the Employee’s employment with the Company terminates for any reason, this Option, to the extent not then vested, shall immediately terminate without consideration.