Incentive Option Grant Sample Clauses

Incentive Option Grant. The Parent Corporation shall grant to the Senior Executive, on the Effective Date, non-qualified stock options to purchase [NUMBER] ([ ]) shares of Parent Corporation common stock (the “Incentive Option”) at a purchase price per share equal to the fair market value (as determined in good faith by the Board) of a share of such stock on the grant date of the Incentive Option. The Incentive Option will become exercisable in equal annual installments on the first four anniversaries of the Effective Date, provided that the Senior Executive is continuously actively employed by the Parent Corporation through each such applicable anniversary date. The Incentive Option shall be governed by the applicable stock incentive plan and the stock option award agreement between the Senior Executive and the Parent Corporation and in the event of any conflict between this Agreement and such plan and/or award agreement, the plan and the award agreement shall govern.
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Incentive Option Grant. In consideration of entering into this Agreement, Employee shall be awarded as of the Effective date fully vested ten year options to purchase 30,000 shares of Davel Communications, Inc. common stock at an exercise price equal to the average final closing price for the 30 trading days immediately preceding the Effective Date.
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Incentive Option Grant. The Corporation hereby grants to the Executive, on the Effective Date of this Agreement, options to purchase, subject to Section 3d below (the “Incentive Option Grant”), an aggregate of Two Million Eighty Two Thousand Three Hundred (2,082,300) shares of Corporation Common Stock (the “Option Shares”), at a purchase price of [$0.02] per share (the “Option Price”). The number of Option Shares shall be subject to appropriate reduction and the Option Price shall be subject to appropriate increase in the event of a reverse split of the Corporation’s outstanding Common Stock. Conversely, the number of Option Shares shall be subject to appropriate increase and the Option Price shall be subject to appropriate reduction (but not lower than the par value per share) in the event of a forward split of the Corporation’s outstanding Common Stock.
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Incentive Option Grant. The Corporation previously granted to the Executive, options to purchase, subject to Section 3d below (the “Incentive Option Grant”), an aggregate of One Million Eight Hundred Twenty-Eight Thousand Five Hundred Fifty (1,828,550) shares of Corporation Common Stock (the “Option Shares”), at a purchase price of 2 cents per share (.02) (the “Option Price”). Due to subsequent stock splits from the initial grant, these options have since reversed to 307,319 options at an exercise price of 12 cents (.12) per share. At each subsequent filing, prior to the IPO, additional shares shall be granted as shall be equal to the difference between the options previously issued and (3%) of the “Fully Diluted Common Stock of the Corporation directly prior to the IPO effective date. All shares shall be amended to an option exercise price of par value. (.0001). Option Shares shall be subject to appropriate reduction and the Option Price shall remain at par in the event of a reverse split of the Corporation’s outstanding Common Stock. Conversely, the number of Option Shares shall be subject to appropriate increase and the Option Price shall remain at par in the event of a forward split of the Corporation’s outstanding Common Stock.
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Incentive Option Grant. Upon the achievement of certain objectives to be agreed in writing between the Executive and the Board, the Executive shall receive an additional option (the “Incentive Option”) to purchase 300,000 shares of Common Stock of the Company plus a number of shares equal to one percent (1%) of the fully diluted shares issued in connection with the Financing (the “Incentive Option Shares”). This Incentive Option Grant shall be divided into two (2) equal grants, each of which shall be contingent on the achievement of one or more of the mutually agreed upon objectives described above. Twenty percent (20%) of each grant of the Incentive Option Shares, as applicable, shall vest on the first anniversary of the date of grant of such Incentive Option, twenty percent (20%) of each grant of the Additional Option Shares , as applicable, shall vest in equal monthly installments thereafter over the subsequent twelve (12) months and the remaining sixty percent (60%) shall vest in equal monthly installments thereafter over the subsequent twenty-four (24) months, subject to the Executive’s continued employment by the Company. The Incentive Option shall be exercisable at a price per share equal to the fair market value of the Common Stock of the Company on the date of grant. By way of example only, and without creating any right or obligation for either party, the type of objective that may trigger the Incentive Option Grant, subject to the parties written agreement regarding the same, includes: completing the Financing at a price per preferred share that equals or exceeds one hundred ten percent (110%) of the price of a Company Series A Convertible Preferred Share immediately following the Company’s most recent round of financing, closing a significant corporate collaboration within twelve (12) months following the Commencement date, or commencing a first-in-man clinical trial of a dicer substrate by ▇▇ ▇▇▇▇. The Initial Option, the Additional Option and the Incentive Option shall be subject to the terms and conditions as specified in the Company’s Third Amended and Restated 2007 Employee, Director and Consultant Stock Plan (the “Stock Plan”), and one or more non-qualified stock option agreements to be executed by the Executive and the Company in substantially the form attached hereto as Exhibit A (the “Non-Qualified Stock Option Agreements”), one of which shall be executed by the Executive and the Company contemporaneously herewith.
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Incentive Option Grant. The Company may, in its sole discretion, grant to the Consultant an option to purchase one hundred thousand (100,000) shares of the Company's common stock (the "Incentive Option") upon the successful conclusion of the Company's legal proceedings against W. ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇ and ▇▇▇▇▇▇ ▇▇▇▇. The term of the Incentive Option shall be three (3) years and fully vest and become exercisable immediately upon the grant hereof. The exercise price of the Incentive Option shall be the closing price of the Company's common stock on the date of the grant thereof.
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Incentive Option Grant. Subject to Section 3d below, the Corporation hereby grants to the Executive, a number of options (the “Incentive Option Grant”) to purchase such number of shares of the Corporation’s Common Stock (the “Option Shares”) as shall be equal to the difference between (i) three (3%) of the “Fully-Diluted Common Stock of the Corporation directly prior to the IPO effective date, less (ii) the sum of all shares of Corporation Common Stock plus all options to purchase shares of Corporation Common Stock issued or issuable to the Executive and/or his spouse in connection with his and/or her employment and activities on behalf of Everest Display, Inc., a Taiwan corporation, and its subsidiaries.
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Related to Incentive Option Grant

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Stock Option Grants Pursuant to the following terms and conditions, the Executive shall be eligible to participate in Holdings’ stock option plan and Holdings agrees as follows: i. Holdings shall establish a stock option plan (“Stock Option Plan”) providing for grants of options (the “Stock Options”) to purchase the common stock of BD Investment Holdings Inc., par value $0.01 (the “Buyer Common Stock”) in amounts not less than (i) 2% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2008 and January 1, 2009 and (ii) 2.5% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive, selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2010 and January 1, 2011. ii. Beginning in January 2008, each annual Stock Option grant shall be made between the first and fifteenth business day of the year, unless the CEO, in his sole discretion, shall agree with the Board to a later date during such year (the “Default Date”). If the Board does not approve Stock Option grants in the amounts set forth in Section 4(c)(i) by the Default Date, then Stock Options in such amounts shall be granted pro-rata to existing option holders and employee stockholders as of such date of grant, except that the CEO’s share of such Stock Option grants shall be reduced by 75% and the other four most highly compensated executives’ share of such Stock Option grants shall be reduced by 50%. iii. The per share exercise price of each Stock Option shall be equal to the Fair Market Value of a share of Buyer Common Stock on the date of grant. Each Stock Option granted shall vest in five equal tranches on each of the first five anniversaries of the date of grant subject to the option holder’s continued employment as of each such vesting date; provided, however, that all Stock Options shall automatically vest in full upon a “change in control” (as defined in the Option Plan, it being understood that an IPO shall in no event constitute a change in control). Notwithstanding any provision of this Agreement to the contrary, following an IPO, no additional Stock Options shall be granted pursuant to the Stock Option Plan. iv. Upon termination of his employment, the portion of any Stock Option granted to the Executive which has not yet vested shall terminate. In the event the Executive’s employment terminates for any reason other than for Cause, the Executive may exercise any vested portion of any Stock Option held by him on the date of termination provided that he does so prior to the earlier of (A) ninety (90) days following termination of employment and (B) the expiration of the scheduled term of the Stock Option. Notwithstanding the foregoing, if the Executive’s employment is terminated due to death or disability (as defined in Section 5(b)), then the Executive or, as applicable in the event of death, his beneficiary or estate, may exercise any vested portion of any Stock Option held by the Executive on the date employment terminates for the shorter of (A) the period of twelve (12) months following the termination date and, (B) with respect to each Stock Option individually, the expiration of the scheduled term of such Stock Option. Upon a termination of the Executive’s employment by the Company for Cause, all Stock Options shall be forfeited immediately. v. Holdings, the Company and the Executive agree to cooperate to structure the Stock Option Plan so as to minimize or avoid additional taxes and interest that would otherwise be imposed on the Executive with respect to options granted under the Stock Option Plan pursuant to Section 409A of the Internal Revenue Code as amended (the “Code”); provided, however, that the Company shall have no obligation to grant the Executive a “gross-up” or other “make-whole” compensation for such purpose.

  • Stock Option The Corporation hereby grants to the Optionee the option (the "Stock Option") to purchase that number of shares of Class A Common Stock of the Corporation, par value $.01 per share, set forth on Schedule A. The Corporation will issue these shares as fully paid and nonassessable shares upon the Optionee's exercise of the Stock Option. The Optionee may exercise the Stock Option in accordance with this Agreement any time prior to the tenth anniversary of the date of grant of the Stock Option evidenced by this Agreement, unless earlier terminated according to the terms of this Agreement. Schedule A sets forth the date or dates after which the Optionee may exercise all or part of the Stock Option, subject to the provisions of the Plan.

  • Stock Option Award In the event of Employee’s involuntary Termination of Employment without Cause or Termination of Employment due to a resignation by Employee for Good Reason that, in either case, occurs on or before the second anniversary of a Change in Control, the Stock Option Award shall become exercisable immediately (whether or not previously exercisable) and shall remain exercisable for the three year period following such Termination of Employment. For this purpose, “Good Reason” has the same meaning determined by Employee’s written employment agreement in effect on the Grant Date. In the event there is no such agreement or definition, then Good Reason means the initial existence of one or more of the following conditions, arising without the consent of the Employee: (1) a material diminution in Employee’s base compensation; (2) a material diminution in Employee’s authority, duties, or responsibilities, so as to effectively cause Employee to no longer be performing the duties of his position; (3) a material diminution in the authority, duties, or responsibilities of the supervisor to whom Employee is required to report.

  • Option Grant You have been granted a NON-STATUTORY STOCK OPTION (referred to in this Agreement as your "Option"). Your Option is NOT intended to qualify as an "incentive stock option" under Section 422 of the Internal Revenue Code of 1986, as amended.