Initial Grant of Stock Options Sample Clauses
The Initial Grant of Stock Options clause defines the terms under which an individual, typically an employee or contractor, is awarded a specific number of stock options upon joining a company. This clause outlines the amount of options granted, the exercise price, and the vesting schedule that determines when the recipient can exercise their options. By clearly specifying these details, the clause ensures both parties understand the equity compensation being offered and helps prevent future disputes regarding ownership or eligibility for stock options.
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Initial Grant of Stock Options. On the Effective Date, the Employee will be granted options to purchase 240,000 shares of Common Stock in the Company vesting cumulatively in five equal amounts on each anniversary of the Effective Date. Such options shall be (i) Incentive Stock Options, as such term is defined pursuant to Internal Revenue Code Section 422, as it may be amended from time to time, and issued under the Company's 1995 Stock Option and Incentive Plan to the extent that such options qualify on the date of grant as Incentive Stock Options and (ii) non-qualified stock options, to the extent that balance of such option do not qualify as Incentive Stock Options with substantially the same terms and conditions as options issued under the Plan referenced in clause (i) (collectively, the "Initial Options"). The forms of Option Agreements to be issued to Employee pursuant to this Section 5 are attached hereto as Exhibit B-1 and B-2. All Initial Options shall have been approved in advance by the Board of Directors of the Company and will be issued at fair market value on the Effective Date. The shares of stock underlying the Initial Options not already registered for resale will be registered for resale on Form S-8 within 30 days after the Effective Date. Any portion of the Initial Options which are unvested on the date of termination of Employee's employment with the Company shall lapse upon the date of termination, if such termination was the result of one of the following: (i) Company's termination of Employee for Good Cause (as defined in Paragraph 8(b)) or
Initial Grant of Stock Options. Company shall grant Executive options to purchase 200,000 shares of the Company's common stock. The options shall be priced at the closing price on Executive's first day of employment under this Agreement. The options shall have a ten year (10 year) term, and vesting shall be 25% per year, commencing on the first anniversary of the grant date.
Initial Grant of Stock Options. On the Closing Date, Parent shall grant a stock option to purchase 2,820,000 shares of class A common stock of Parent (“Parent Stock”), which shall be subject to the terms and conditions of the ▇▇▇▇ Health, Inc. 2021 Stock Option and Incentive Plan (the “2021 Plan”) and an equity award agreement substantially in the form of the Non-Qualified Stock Option Agreement attached hereto as Exhibit C.
Initial Grant of Stock Options. Classmates hereby agrees to grant to ▇▇. ▇▇▇▇▇▇▇▇ as of the Effective Date options (the “Options”) to purchase that number of shares which represents, on the Effective Date, 4.2857% of Classmates’ fully diluted Class A common stock (the “Option Shares”) at an exercise price equal to the price per share of such Class A common stock offered to the public on the Effective Date pursuant to the terms and conditions contained herein. The Options shall vest as provided below. On the Effective Date, the number of Options and Option Shares shall be computed to represent 4.2857% of the fully diluted shares of Class A common stock, and the Options shall be issued, subject to adjustment in the number of covered shares as provided below. The Options shall be subject to customary adjustments for stock splits, stock dividends and similar events, shall be exercisable for ten years from their date of grant, and shall be evidenced by a separate option agreement or certificate. For purposes hereof, “fully diluted shares of Class A common stock” means, at the Effective Date, the total number of outstanding shares of Classmates’ Class A common stock assuming exercise of all options (including, the Options), warrants and similar securities exercisable for Class A common stock that are outstanding or issuable pursuant to then existing agreements, the conversion or exchange of all other securities of Classmates convertible into or exchangeable for shares of Class A common stock (including Classmates’ Class B common stock), treating all shares of Class A common stock covered by restricted stock units and similar instruments that are outstanding or issuable pursuant to then existing agreements as outstanding, and assuming the underwriters in the IPO sell all of the “firm shares” set forth in the IPO underwriting agreement and fully exercise the over-allotment option given them to purchase additional Class A common stock within the time provided in the IPO underwriting agreement. In the event the over-allotment option is not exercised in full by the underwriters within the time provided in the IPO underwriting agreement, an appropriate number of Options shall be cancelled and the Option agreement shall be amended, to achieve the intended percentage. For the avoidance of doubt, fully diluted shares of Class A common stock do not include any securities held in treasury.
Initial Grant of Stock Options. On the Closing Date, the Company shall grant a stock option to purchase 400,000 shares of Parent Stock (the “Option”). The Option will be subject to Parent’s Equity Documents, and shall vest and become exercisable upon satisfaction of stock price performance hurdles as specified in the applicable equity award agreement, whereby 25% of the Option will become vested and exercisable upon the Parent Stock closing trading price maintaining a closing price of $20, $25, $30, and $40 per share respectively, in each case for 30 consecutive trading days as determined by the Board, and in each case subject to the Executive’s continued employment with the Company.
Initial Grant of Stock Options. On the day the Effective Date, the Company shall grant Executive a stock option to purchase Class A ordinary common shares of the Company, par value US$0.0001 per share (“Stock”, and such stock options, “Options”) with an aggregate financial accounting grant date fair value equal to US$650,000, which shall be subject to the terms and conditions of the Company’s 2021 Omnibus Incentive Compensation Plan (the “2021 Plan”) and a stock option agreement to be entered into between the Company and Executive on the Effective Date.
Initial Grant of Stock Options. Subject to (i) approval of the Board, (ii) timely execution of an award agreement (the “Option Agreement”) and (iii) the terms and conditions of the Option Agreement and the 2025 Equity Incentive Plan (the “Plan”) (which, for the avoidance of doubt, shall include an exercise price for each stock option that is no less than the closing price of a share of common stock of the Company as of the date of grant), Employee will be eligible to receive 500,000 stock options pursuant to the Option Agreement and the Plan (the “Stock Options”). The Stock Options shall vest over a four-year period, with no vesting during the first twelve (12) months following the grant date (the “Cliff Period”), and thereafter twenty-five percent (25%) of the award shall vest upon completion of the Cliff Period, with the remaining seventy-five percent (75%) vesting in equal quarterly installments over the subsequent thirty six (36) months, subject to Employee’s continued employed with the Company and good standing through each applicable vesting date. Employee will be eligible to receive additional grants of stock options under the Plan in the sole and absolute discretion of the Company and the Board.
Initial Grant of Stock Options. Contemporaneously with the execution hereof, as a sign-on bonus Executive shall be granted shares of the Company's common stock and options as follows:
i. Executive shall be granted 1,148,312 restricted shares of the Company's common stock and all such shares shall be fully vested as of the date granted.
ii. Executive shall be granted options to purchase 574,156 shares of the Company's common stock at a price of $0.75 per share. Such options to purchase common stock shall be fully vested as of the date granted.
Initial Grant of Stock Options. On the Effective Date, the Employee will be granted options to purchase 75,000 shares of Common Stock in the Company vesting in five equal amounts on each anniversary of the Effective Date. Such options shall be (i) Incentive Stock Options, as such term is defined pursuant to Internal Revenue Code Section 422, as it may be amended from time to time, and issued under the Company's 1995 Stock Option and Incentive Plan to the extent that such options qualify on the date of grant as Incentive Stock Options and (ii) non-qualified stock options, to the extent that balance of such option do not qualify as Incentive Stock Options with substantially the same terms and conditions as options issued under the Plan referenced in clause (i) (collectively, the "Initial Options"). All Initial Options shall have been approved in advance by the Board of Directors of the Company and will be issued at fair market value on the Effective Date. The shares of stock underlying the Initial Options not already registered for resale will be registered for resale on Form S-8 within 30 days after the Effective Date. Any portion of the Initial Options which are unvested on the date of termination of Employee's employment with the Company shall lapse upon the date of termination, if such termination was the result of one of the following: (i) Company's termination of Employee for Good Cause (as defined in Paragraph 8(b)) or (ii) Employee's resignation of employment, for any reason. Notwithstanding anything to the contrary in this Agreement, the Employee shall retain the Initial Options after the date of termination of employment and vesting shall continue pursuant to the terms and conditions of the option agreement governing such options over the initial five year period, except as provided in the immediately preceding sentence.
Initial Grant of Stock Options. Subject to the approval of the Board, the Corporation will grant the Executive an option to purchase 3,000,000 common shares of the Corporation. The terms of the stock option including, without limitation, provisions respecting exercise price, vesting and expiry, shall be governed by the terms of the Viventia Biotech Inc. Share Option Plan.