Other Option Terms Sample Clauses
The "Other Option Terms" clause defines additional terms and conditions related to options that are not covered elsewhere in the agreement. This clause may specify unique procedures, rights, or obligations regarding the exercise, transfer, or expiration of options, such as alternative vesting schedules or special notice requirements. Its core practical function is to ensure that any supplementary or exceptional option-related provisions are clearly documented, thereby preventing misunderstandings and addressing scenarios not anticipated by standard option clauses.
Other Option Terms. The Option has been granted pursuant to the Plan, and the terms and conditions of the Plan are incorporated by reference in this Agreement as though set forth herein in their entirety.
Other Option Terms. The other terms of each option granted pursuant to this Section 11 shall be as follows:
Other Option Terms. The exercise price per share of each option granted under this Subsection (d) shall be equal to the fair market value per share of the Company's Common Stock on the date of grant. The term of each such option shall be 10 years, provided that each such option may expire earlier if the Employee's Employment terminates, but not less than (A) 3 months after the termination of his Employment for any reason other than death or disability; (B) 12 months after termination of his Employment because of death; and (C) 6 months after termination of his Employment because of his total and permanent disability. All share numbers set forth in this Subsection (d) shall automatically be adjusted to reflect stock splits, stock dividends, reverse stock splits, and similar events.
Other Option Terms. The stock options originally granted by RPP Inc. and RSM Inc. shall otherwise continue in accordance with their respective terms and conditions, subject only to the express vesting modifications set forth in this Section 4.f. Without limiting the generality of the preceding sentence, any stock options originally granted by RPP Inc. and RSM Inc. shall continue to be subject to the limited post-termination of employment exercise period(s) set forth in the applicable stock option agreements; provided that as to any stock options that vest pursuant to Section 4.f(ii) after the date Executive’s employment by the Company terminates, such post-termination of employment exercise period(s) shall be deemed to commence as of the vesting date of such options.
Other Option Terms. During the two-year continuation of employment period, options will continue to be subject to terms of the option agreements under which they were granted. Medical Insurance: Coverage through employment or August 31, 2007, whichever is later; ▇▇▇▇▇▇ cost to be calculated on the same basis as other Entegris employees. Automobile: ▇▇▇▇▇▇ shall be entitled to use his company-owned vehicle until October 31, 2005, at which time he may either buy it at the value at which it is carried on the books of Entegris or return it to the company. 401(k) Plan: ▇▇▇▇▇▇ waives participation as of August 6, 2005, but retains distribution rights as specified in plan documents. Office Support: ▇▇▇▇▇▇ shall receive administrative support for approved travel and assigned duties and shall submit expenses and receive reimbursement in customary employee fashion. He shall additionally remain entitled to ongoing use of a laptop computer and Blackberry or other hand-held device provided by Entegris, subject to the right of Entegris to modify access to company information in its discretion. Home Office: One-time allowance of $2,000.00. Legal Expenses: Entegris shall pay ▇▇▇▇▇▇’▇ legal fees in completing this Agreement in an amount not to exceed ten hours of total time at standard rates.
Other Option Terms. The other terms of each option granted pursuant to this Section 11 shall be as follows:
(i) The option term shall be seven (7) years.
(ii) The exercise price per Share shall be no less than 100% of the Fair Market Value per Share on the date of grant.
(iii) In the event an Optionee’s service as a Director terminates more than six (6) months following the commencement of service as an Independent Director, then the Option shall immediately accelerate as to one year’s additional vesting or, with respect to an Annual Grant, as to the number of shares that would have vested on the day prior to the next regularly scheduled meeting of the stockholders. The Option shall remain exercisable, to the extent vested and exercisable on the date of termination of Board service, for one year following such termination date (but in no event longer than the original term of the Option); provided, however, that in the event of a Qualifying Board Retirement, the Option shall vest as to 100% of the Shares and shall remain exercisable for three years following such termination (but in no event longer than the original term of the Option); provided, further that in the event of the termination of service as an Independent Director due to the death or Disability of the Optionee while an Independent Director, the Option shall immediately accelerate as to one year’s additional vesting or, with respect to an Annual Grant, as to the number of shares that would have vested on the day prior to the next regularly scheduled meeting of the stockholders (or more, in any event, if the cessation of Board Service would have been a Qualifying Retirement) even if such termination of service is within six (6) months following the commencement of service as an Independent Director.
(iv) The permissible forms of consideration for exercising the option shall be the same as for discretionary options as specified in Section 8(b)(iii) hereof.
(v) The provisions of Section 8(b)(iv) hereof relating to stockholder rights shall also apply to options granted under this Section 11.
(vi) The options granted under this Section 11 shall be subject to the other terms and conditions set forth in the form of option agreement selected by the committee of Inside Directors, in their sole discretion.
Other Option Terms. The Option shall be subject to the terms and conditions specified in this Section 4(b). The Option shall have a ten year term. Subject to the ten year term, the vested portion of the Option can be exercised at any time by you (or by your heirs or beneficiaries if applicable) while you are providing service to the Company (or any Company affiliate) and, except if your employment is terminated for Cause (as described below), through the date that is twelve months after you cease to render service to the Company (or any Company affiliate). If your employment is terminated pursuant to Section 11(a) below between the period commencing six months prior to a Change in Control (as defined below in Section 4(c)) and extending through the date that is twelve months after the Change in Control, the Option (and any other unvested Company compensatory equity awards that you then hold) shall become fully vested and immediately exercisable as of the date of termination of employment.
Other Option Terms. Both the Initial Option and the Performance Options (collectively, the “Options”) will be subject to the terms and conditions specified in this Section 4(c)(iii). The Options will be granted with a per share exercise price equal to the closing sales price of a common share of the Company as reported on the NASDAQ Stock Market on the trading day prior to the applicable date of grant. The Options will have ten year terms unless they expire earlier in connection with a change of control of the Company or Executive’s termination of service to the Company. The Options will be granted under the Company’s 2006 Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”), and will be subject to the further terms and conditions of the Stock Plan and the stock option agreements to be entered into between Executive and the Company. The Options will be intended to qualify as “incentive stock options” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), to the maximum extent possible within the limitations of the Code.
Other Option Terms. The stock issued pursuant to this Plan is subject to restrictions on transfer of shares. The options may not be exercised by the Employee unless in accordance with the laws of the State of California and the Securities Act of 1933, as amended. Employee understands that the Corporation is under no obligation to register, list or qualify the shares to effect such a compliance. Any option granted pursuant to the Plan shall contain any other terms or conditions that the Board of Directors and/or the Corporation's legal counsel deem necessary.