Common use of Non-Statutory Stock Options Clause in Contracts

Non-Statutory Stock Options. So long as ▇▇▇▇▇ is employed by the Companies, he shall be eligible to receive, solely at the discretion of the Board of Directors of Trinity, Non-statutory (or non-qualified) Stock Options ("NSO's") for shares of common stock of Trinity (the "Shares"). Such NSO's shall vest and become exercisable in accordance with, and subject to, all the terms and restrictions of the Companies' 1998 Stock Option Plan, a copy of which is attached hereto and incorporated herein as Exhibit A. The Board of Directors of Trinity shall determine annually the number of shares, if any, to be granted to ▇▇▇▇▇ under the 1998 Stock Option Plan, based upon ▇▇▇▇▇' performance. In the event that a change is the controlling interests in Trinity occurs, as defined in Section 8, then ▇▇▇▇▇ shall be entitled to a vested grant of options in the amount of 3,500 shares for each full year remaining under this contract.

Appears in 1 contract

Sources: Employment Agreement (Trinity Capital Corp)

Non-Statutory Stock Options. So long as ▇▇▇▇▇ is employed by the Companies, he shall be eligible to receive, solely at the discretion of the Board of Directors of Trinity, Non-statutory (or non-qualified) Stock Options ("NSO's") for shares of common stock of Trinity (the "Shares"). Such NSO's shall vest and become exercisable in accordance with, and subject to, all the terms and restrictions of the Companies' 1998 Stock Option Plan, a copy of which is attached hereto and incorporated herein as Exhibit A. The Board of Directors of Trinity shall determine annually the number of shares, if any, to be granted to ▇▇▇▇▇ under the 1998 Stock Option Plan, based upon ▇▇▇▇▇' '▇ performance. In the event that a change is the controlling interests in Trinity occurs, as defined in Section 8, then ▇▇▇▇▇ shall be entitled to a vested grant of options in the amount of 3,500 7,000 shares for each full year remaining under this contract.

Appears in 1 contract

Sources: Employment Agreement (Trinity Capital Corp)