Option Compensation. Executive shall receive a grant of 2,750,000 non-statutory stock options, at an exercise equal to the volume weighted average price of the Company’s common stock on the Effective Date, pursuant to the terms and subject to the conditions of a Stock Option Agreement of even date herewith between Executive and Company.
Option Compensation. Upon the date of this Agreement, Executive shall receive a grant of options (“Options”) to purchase 21,834 shares of the $0.001 par value common stock (“Common Stock”) of the Company. The strike price of the Options shall be $5.70 per share, representing the fair market value of one share of Common Stock as of the date of this Agreement. The Options shall be granted pursuant to the terms and subject to the conditions of a Stock Option Agreement of even date herewith between Executive and Company. Upon, and subject to, the completion of the IPO, Executive shall be granted additional stock options (“Gross Up Options”), which together with the Options, will represent one and thirty-five hundredths percent (1.35%) of the outstanding shares of Common Stock on a fully-diluted basis after giving effect to the IPO. The strike price of the Gross Up Options shall be the public offering price in the IPO and the Gross Up Options shall be granted pursuant to the terms and subject to the conditions of a similar Stock Option Agreement.
Option Compensation. 3.1 In consideration of the sum of Dollars ($ ) (the “Option Compensation”) paid by Company to Grantor in accordance with the provisions of this Section 3.1 and Section 3.2, Grantor hereby grants to Company the sole, exclusive and irrevocable option to purchase the Lands for the Purchase Compensation (as defined in Section 5.2) upon and subject to all of the terms and conditions set forth in this Agreement (the “Option”). Subject to the provisions of Section 3.2, Company shall pay the Option Compensation (or the initial portion thereof, as applicable) to Grantor within sixty (60) days of the date of this Agreement. However, neither the signing of this Agreement nor the payment of the Option Compensation or, if applicable, the Option Extension Compensation (as defined in Section 4.2), nor the registration of the Option Registration (as defined in Section 6.1) shall bind Company to exercise the Option hereby granted.
Option Compensation. Employee's entitlement to Option compensation will be determined by the Board's Compensation Committee at a later date.
Option Compensation. (a) As additional compensation for Consultant's services hereunder, the Company hereby sells, grants, assigns and transfers to Consultant and Consultant hereby purchases and accepts from the Company, pursuant to a subscription agreement between the Company and Consultant, entered into simultaneously herewith (the "Subscription Agreement"), five-year options, exercisable at $500.00 for each one-hundredth (1/100) of a percent of all of the membership interests of the Company (or if the membership interests of the Company are held by the IPO Company and the former holders of the membership interests hold common stock of the IPO Company, exercisable at a price per share equal to $50,000.00 divided by the number of shares of common stock of the IPO Company issued in respect of each 1% membership interest in the Company), to purchase membership interests of the Company (or, if the membership interests of the Company are held by IPO Company and the former holders of the membership interests hold common stock of the IPO Company, such number of shares of common stock), which in the aggregate shall be equal to the membership interest that a holder of a 3% membership interest of the Company owned as of the date hereof would be entitled to at the date of issuance of such options (in each case, after giving effect to subsequent issuances of membership interests that would reduce the percentage interest of the holder of a 3% membership interest as of such date and/or issuances of securities convertible into or exchangeable or exercisable for any such membership interests or subdivisions or combinations of such common stock (collectively, "Subsequent Events")) as a holder of the membership interests of the Company (or the shares of common stock of the IPO Company).
Option Compensation. Subject to the approval of the Compensation Committee of the Board of Directors, you will be granted 60,000 options to purchase common stock of NEON commensurate with your position with NEON and pursuant to the terms and conditions of the NEON Systems, Inc. Employee Stock Option Plan. These shares will vest over a four (4) year period of continuous employment with NEON on the following basis: one-quarter (1/4) of the total shares shall vest on the first anniversary of your date of employment, with one-sixteenth (1/16) of the total shares vesting each quarter thereafter for 12 additional quarters of continuous employment.
Option Compensation. On the Effective Date, Executive will be granted an option exercisable for 50,000 shares of the Company’s common stock at a strike price of $5.99. The option shall vest as follows: one-fourth shall vest at the Effective Time with one-fourth vesting each year thereafter until fully vested. The options shall terminate on the earlier of the ten (10) year anniversary of the Effective Date or the 90th day after Executive’s termination of employment for any reason, other than for death or disability, in which case the grant shall terminate on the 366th day after death or disability, and shall be subject to terms and conditions set out in the Company’s 2007 Equity Compensation Plan and related stock option grant.
Option Compensation. Executive acknowledges having been granted a non-statutory stock option to purchase 1,500,000 shares of the Company’s common stock, at an exercise equal to $0.50 per share, pursuant to the terms and subject to the conditions of a Stock Option Agreement dated October 18, 2016 between Executive and Company.
Option Compensation. As payment for the services to be rendered by the Employee as provided in Section 1 and subject to the provisions of this Agreement, the Company shall issue to Employee options to purchase up to 7,200 shares of Company common stock pursuant to the terms of the Company’s 2013 Stock Option Plan and the Plan award documents. The material terms of the options shall be as follows: (i) $8.00 exercise price; (ii) vesting 50% on grant/50% monthly for 24 months; and (iii) rights of cashless exercise. The number of options and exercise price shall be adjusted upon the effective date of the Company’s planned 416.7 to one forward stock split such that the number of options shall be 5,000,000 and the exercise price shall be $.0191984.
Option Compensation. On the Effective Date, Executive will be granted an option exercisable for 150,000 shares of the Company’s common stock at a strike price equal to the greater of (i) $10 per share or (ii) the closing price of the Company’s common stock on the Effective Date. The option shall be fully exercisable at grant, shall terminate on the earlier of the ten (10) year anniversary of the Effective Date or the 90th day after Executive’s termination of employment for any reason, other than for death or disability, in which case the grant shall terminate on the 366th day after death or disability, and shall be subject to terms and conditions similar to those set out in the Company’s 2007 Equity Compensation Plan and related stock option grant, although the option shall not be issued pursuant to the Company’s 2007 Equity Compensation Plan. Any shares acquired upon exercise of the option shall be subject to the restrictions set forth in Section 4.3(c). In the event that the closing stock price is greater than $10 per share on the Effective Date, the Company shall pay Executive, within 10 business days following the Effective Date, an amount in cash equal to: (the closing price of the common stock on the Effective Date minus $10) multiplied by 150,000. In lieu of this additional cash payment, at the Company’s option, the Company may issue to Executive a number of shares of common stock equal in value, based on the closing price of the stock on the Effective Date, to this amount. Such shares shall be subject to the restrictions set forth in Section 4.3(c).
