Additional Option Grants. The Employee shall be eligible to receive additional stock options as determined in the discretion of the Compensation Committee of the Board based upon such factors as it determines in its discretion. Any such additional options shall become exercisable as to 25% of the number of shares subject to the option on the first anniversary of the date of grant and on each anniversary thereafter.
Additional Option Grants. The Company agrees to issue Executive 800,000 ten-year options at a strike price equal to the closing price on the day the Board approves this agreement. Except as provided below, options will vest 1/3 on January 1, 2001, 1/3 on July 1, 2001, and 1/3 on July 1, 2002.
Additional Option Grants. Subject to approval by the Board or an appropriate committee thereof, Employee may be granted additional stock options during the course of his employment with Employer, with the terms of the award and amount of any such grant to be determined by Employer in its sole discretion, and with such grant (if made) to be made pursuant to the terms of a formal stock option agreement and stock plan.
Additional Option Grants. Executive has received and may be eligible for receive additional option or equity grants (“Additional Option Grants”) from time to time as shall be determined by the Compensation Committee of the Board (the “Compensation Committee”) in its sole discretion, and subject to such vesting, exercisability, and other provisions as the Compensation Committee may determine in its discretion. All such Additional Option Grants shall be governed in all respects by the terms of the applicable stock option or equity award agreement, grant notice and plan document (“Additional Option Documents”), except that Executive expressly acknowledges that with respect to the Additional Option Grant made prior to the date of this Agreement in 2016, the potential vesting acceleration benefit described in Section 5.3 herein shall replace and supersede the “Double-Trigger Vesting Acceleration Provision” in such Additional Option Documents.
Additional Option Grants. Executive shall receive additional grants of options, stock appreciation rights, phantom stock rights, and any similar option or securities or equity compensation when and as such grants are considered for other executives or employees of the Company in amount equal to 10% of the total number of options granted to all executives and employees in any calendar year during the term of this contract beginning in 2003.
Additional Option Grants. Based upon the Executive's performance and annual review, the Executive shall be eligible during the Employment Period to receive additional stock option grants in such amounts and subject to such terms and conditions as the compensation committee of the Board shall determine in its sole discretion are necessary and desirable.
Additional Option Grants. Immediately prior to and subject to the consummation of the Closing, the Company shall, and the Stockholder shall cause the Company to, adopt the 2000 Option Plan in form and substance as directed by Parent (which form and substance shall be substantially similar to Parent's option plan) and shall reserve under such 2000 Option Plan the Additional Options. The Additional Options shall not be subject to accelerated vesting upon the Mergers, and the Company shall not, and the Stockholder shall cause the Company not to, issue any Additional Options without Parent's prior written consent.
Additional Option Grants. On September 12, 2000, the Compensation Committee of the Board of Directors of the Company granted to you additional stock options to acquire 425,000 shares of the common stock of the Company at an exercise price of $16.125 per share (the "New Options"). The New Options were granted under the Company's 2000 Long-Term Incentive Plan (the "Plan"), which together with the terms contained in this letter, sets forth the terms and conditions of the New Options and is incorporated herein by reference. The New Options are non-qualified stock options and have a term of ten years from the date of grant. The New Options will vest and become exercisable as to 1/48th of the shares covered thereby on the 12th day each month from October 2000 to and including September 2004, subject to Paragraph 3 below.
Additional Option Grants. During the term hereof, Executive will be eligible to receive additional stock options, restricted stock grants or other equity incentive awards under or outside of the Plan and under any successor equity incentive plans of the Company, as the Board in its sole discretion determines to be appropriate.
Additional Option Grants. The Executive shall be eligible to receive additional grants of stock options to purchase shares of common stock of the Company as recommended by the Compensation Committee in its sole discretion; provided that each Fiscal Year commencing during the Term, the Executive shall be granted options to purchase that number of shares such that the Black-Scholes value of the grant shall be no less than 285% of the sum of (i) the Executive's initial Base Salary plus (ii) his initial Target Bonus, subject to such vesting schedule as generally applies to stock options granted to other senior executive officers who participate in the Company's equity incentive plans; provided, however, that, not later than December 31, 2001, or if earlier, in connection with the first awards granted in the ordinary course of business to other senior executive officers under the Company's equity incentive plans, after the Commencement Date, the Compensation Committee shall grant the Executive an option to purchase not less than 500,000 shares of Company common stock, which shall vest at the rate of twenty percent (20%) of the total shares granted on each of the first (1st), second (2nd), third (3rd), fourth (4th) and fifth (5th) anniversaries of the date of grant of such awards (the "First Additional Option"). The First Additional Option grant shall be in the same form as the Initial Option. Subsequent annual option awards otherwise shall be subject to the terms and conditions as generally apply to stock options granted to other senior executive officers who participate in the Company's equity incentive plans. Executive may elect to receive up to fifty percent (50%) of the First Additional Option and all subsequent annual option awards in the form of a deferrable restricted stock unit award with equivalent value. The number of such deferrable restricted stock units shall be determined by dividing the Black-Scholes value of the options being granted by the closing New York Stock Exchange price of the Company's stock on the date of grant. The number of shares of Company common stock subject to the First Additional Option shall be reduced by the number of shares Executive elects to receive (pursuant to the preceding formula) as deferrable restricted stock units.
