Additional Stock Options. Pursuant to separate stock option grant letters and, as applicable, the terms of the Company's Stock Option Plan, the Company shall grant the Executive options with respect to 50,000 shares of Stock, exercisable at $5.75 (which was the fair market value at the date of grant, November 26, 1996).
Additional Stock Options. On the Effective Date, the Employee ------------------------ shall be granted a compensatory stock option for 225,000 shares of the Company's restricted Common Stock at an exercise price per share of $1.00 for the first 25,000 shares and $2.00 per share for the next 200,000 shares (the "Initial Option"). The Initial Option shall be vested as to 25,000 shares on the Effective Date. As to the remaining 200,000 shares and provided the Employee continues to be engaged under this Agreement on each of the vesting dates, the remainder of the Initial Option shall vest in the following manner: 66,666 shares on the one year anniversary of the Effective Date (February 20, 2001), and thereafter 1/24 of the remaining shares subject to the Initial Option each month the Employee continues to be engaged under this Agreement. The Initial Option shall be fully vested on the third anniversary of the Effective Date. The Initial Option cannot be transferred by the Employee except in the event of her death, and must be exercised by the Employee (or in the event of her death, by her estate or such other designee) within ten (10) years from the Effective Date. Forms of permissible consideration to purchase the shares of restricted common stock on exercise of the Initial Option shall be cash, cashless exercise (also called net zero transaction), recourse promissory note and such other forms of consideration with which other executives have or are given the opportunity to purchase shares. In the event that the number of outstanding shares of the Company's common stock is changed by a stock dividend, recapitalization, stock split or similar change in the capital structure of the Company without consideration, then the number of shares subject to the Initial Option will be proportionately adjusted.
Additional Stock Options. Grant Executive options, pursuant to the Company's 1999 Officer Stock Option Plan and the Stock Option Agreement to be entered into between the Company and Executive pursuant thereto , to purchase up to 262,152 shares of the Company's Common Stock at an exercise price of $.50 per share and with the following vesting: (a) no option will be exercisable until the six-month anniversary date of the Effective Date, (b) each option will then become exercisable as to 12.5% of the shares and (c) thereafter, the option will become exercisable ratably over the next 42 months, at the end of each succeeding month, at the rate of 2.0833% per month; notwithstanding the foregoing, the options will become fully
Additional Stock Options. Employee shall also receive, on an annual basis, stock options to purchase Employer Common Stock equal to four percent (4%) of the pre-tax earnings of Employer as stated in the annual audit. (Example: if Employer earned $800,000 pre-tax, Employee would receive stock options of $32,000). Additionally, Employee shall receive options to purchase 100,000 shares of Employer Common Stock annually, starting on March 9, 2000. The price payable by Employee for each share of stock purchased under the stock options described in this paragraph shall be set at the closing bid at the time of grant of each annual option. Additional compensation will be determined by a compensation committee designated by the Board of Directors.
Additional Stock Options. Employee shall be eligible to receive additional Company Stock Options as deemed appropriate by the Company's Management and approved by the Company Board of Directors.
Additional Stock Options. Any additional stock options, stock grants, stock units or equivalents to be granted to you will be calculated and issued commensurate with other executive officers of the Company, subject to the approval of the Compensation Committee.
Additional Stock Options. Employee shall also be eligible to receive additional stock options during the Period of Employment pursuant to a stock option bonus plan as may from time to time be in effect.
Additional Stock Options. In addition to those set forth above, Executive will, during the term hereof, have the opportunity to earn additional stock option grants of Employer or its Affiliates as those made available to comparable executives employed by Employer and its Affiliates and based upon performance hereunder, all at the sole discretion of the Compensation Committee of the Affiliates of Employer.
Additional Stock Options. On the Effective Date, the Employee shall be ------------------------ granted a compensatory stock option in the form of an Incentive Stock Option for 225,000 shares of the Company's Common Stock at an exercise price of fair market value per share (the "Initial Option") subject to terms and conditions of the 2000 Long Term Incentive Program. Subject to Sections 7.2, 7.3 and 7.4 below, the Initial Option shall be vested as to and provided the Employee continues to be engaged under this Agreement on each of the vesting dates: 75,000 on the one year anniversary of the Effective Date (September 1, 2001), and thereafter 1/24 of the remaining shares subject to the Initial Option each month the Employee continues to be engaged under this Agreement. The shares issuable on exercise of the Initial Option shall be in all events fully vested on the third anniversary of the Effective Date.
Additional Stock Options. The Company, pursuant to its Plan, the Option Agreement, and the Stock Option Grant Notices, including Attachments I, II, and III thereto, dated November 30, 1999 and January 27, 2000 respectively (" Second Grant Notices"), granted Executive an option to purchase 100 shares of the Company Common Stock at an exercise price of $.06 per share and 1,000,000 shares of the Company Common Stock at an exercise price of $.25 per share. The terms and conditions of the Plan, the Option Agreement and the Second Grant Notices shall remain in full force and effect and are not modified by anything contained herein. The Plan, the Option Agreement and the Second Grant Notices are attached hereto as Exhibits A, B, D & E respectively.
