Incentive Option Sample Clauses
An Incentive Option clause establishes the terms under which additional compensation or rewards may be granted based on the achievement of specific performance targets or milestones. Typically, this clause outlines the criteria for earning incentives, such as meeting sales goals, completing projects ahead of schedule, or exceeding quality standards, and details the form and timing of the incentive, which could be cash bonuses, stock options, or other benefits. The core function of this clause is to motivate parties to perform at a higher level by directly linking rewards to measurable outcomes, thereby aligning interests and encouraging exceptional performance.
Incentive Option. Incentive Option" means any Option designated and qualified as an "incentive stock option" as defined in Section 422 of the Code.
Incentive Option. If this Option is an Incentive Option, as designated in Section 3(b), it shall expire one day short of ten (10) years from the Grant Date, provided, however, for any Optionee who owns more than ten percent (10%) of the total combined voting power or value of all classes of stock of the Company, this Option shall expire one day short of five (5) years from the Grant Date.
Incentive Option. An Option that is intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Code. An Incentive Option, or a portion thereof, shall not be invalid for failure to qualify under Section 422 of the Code, but shall be treated as a Nonqualified Option.
Incentive Option. The Option is intended to be Incentive Option.
Incentive Option. An Option that is intended to qualify as an "incentive stock option" within the meaning of section 422 of the Code. An Incentive Option, or a portion thereof, shall not be invalid for failure to qualify under section 422 of the Code, but shall be treated as a Nonqualified Option. PMT SERVICES, INC. 1994 INCENTIVE STOCK PLAN
Incentive Option. An Award in the form of an Option that shall comply with the requirements of Section 422 of the Code.
Incentive Option. Concurrently with the execution of this Agreement, the Company shall grant Executive an option (the “Incentive Option”) to purchase 12,000,000 shares of the Company’s common stock at an exercise price equal to the fair market price of the Company’s common stock on the Effective Date. The Incentive Option shall vest according to the schedule set forth below, and will expire five (5) years after the date of grant:
2.3.1 When the Company’s Market Capitalization reaches $75 million, the Incentive Option shall vest with respect to 6,000,000 shares (such shares, the “First Tranche”) of the Company’s common stock subject thereunder; and
2.3.2 When the Company’s Market Capitalization reaches or exceeds $120 million, the Incentive Option shall vest with respect to the remaining 6,000,000 (such shares, the “Second Tranche”) shares of the Company’s common stock subject thereunder.
Incentive Option. Concurrently with the execution of this Agreement, the Company shall grant Executive an option (the “Incentive Option”) to purchase 2,500,000 shares of the Company’s common stock at an exercise price equal to the fair market price of the Company’s common stock on the Effective Date. Executive must be an Employee of the Company at the time of the Market Capitalization event which will allow for vesting. The Incentive Option shall vest according to the schedule set forth below, and will expire five (5) years after the Effective Date:
2.4.1 When the Company’s Market Capitalization reaches $75 million, the Incentive Option shall vest with respect to 1,250,000 shares (such shares, the “First Tranche”) of the Company’s common stock subject thereunder; and
2.4.2 When the Company’s Market Capitalization reaches or exceeds $120 million, the Incentive Option shall vest with respect to the remaining 1,250,000 (such shares, the “Second Tranche”) shares of the Company’s common stock subject thereunder.
Incentive Option. This Option has been designated by the Committee as an incentive stock option and therefore it shall be subject to the additional conditions in this paragraph. If the aggregate option exercise price with respect to a portion of this Option which is exercisable for the first time during any calendar year ("Current Grant") and all incentive stock options previously granted under the Plan and other employee stock option plans of your employer or a parent or subsidiary of your employer which are exercisable for the first time during a calendar year ("Prior Grants") would exceed $100,000 (the "$100,000 Limit"):
(i) the portion of the Current Grant which would, when added to any Prior Grants, be exercisable for shares of Stock which would have an aggregate exercise price in excess of the $100,000 Limit shall, notwithstanding any term to the contrary herein, be exercisable for the first time in the first subsequent calendar year or years in which it could be exercisable for the first time when added to all Prior Grants without exceeding the $100,000 Limit; and
(ii) if, viewed as of the Grant Date, any portion of this Option could not be exercised under paragraph (i) above during any calendar year commencing with the calendar year in which it is first exercisable through and including the last calendar year in which this Option may be exercised, such portion of this Option shall not be an incentive stock option, but shall be exercisable as a separate option at such dates provided herein.
Incentive Option. As soon as practicable as permitted under the American Stock Exchange (“AMEX”) rules and procedures relating to exceptions to the stockholder approval requirements for grants of stock options and other types of equity compensation awards to an individual not previously an employee or director of the granting company (the “AMEX Exception”), the Company will grant to Executive pursuant to the Commerce Energy Group, Inc. Fallquist Incentive Plan (the “Incentive Plan”) a non-qualified stock option (the “Incentive Option”) to purchase 125,000 shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”). The Incentive Option shall be immediately vested and fully exercisable on the Option Grant Date. The exercise price per share shall be the Fair Market Value (as defined in the Incentive Plan).