AMENDMENT OF STOCK OPTION PLAN Sample Clauses

AMENDMENT OF STOCK OPTION PLAN. The Company shall have amended its Stock Option Plan to provide for the issuance of an additional 2,000,000 shares of Common Stock thereunder (for a total of 4,446,666 shares).
Sample 1See All (4)
AutoNDA by SimpleDocs
AMENDMENT OF STOCK OPTION PLAN. LST shall have caused Article X of that certain LST, Inc. Omnibus Stock Option and Award Plan dated September 29, 2000 (the "STOCK OPTION PLAN") to be amended to provide that upon a "Change of Control" (as defined in the Stock Option Plan) all outstanding options shall be cancelled and any vested, but unexercised options shall no longer be exercisable.
Sample 1Sample 2Sample 3
AMENDMENT OF STOCK OPTION PLAN. Prior to the Closing Date, Ebiz shall amend its 1998 Equity Incentive Plan to increase the number of shares authorized under such plan to an amount sufficient to assume all outstanding LMI Stock Options pursuant to Section 1.6(b) hereof.
Sample 1Sample 2
AMENDMENT OF STOCK OPTION PLAN. Prior to or concurrently with the Effective Time, EBIZ shall take such action as may be necessary, including obtaining any required approval by the shareholders of EBIZ, to amend the EBIZ 1998 Equity Incentive Plan (the "Plan") and increase the number of shares of EBIZ Common Stock available under the Plan, to cause each unexpired and unexercised option to purchase shares of JBSI Common Stock (each a "JBSI Option") that is outstanding as of the Effective Time to be automatically converted at the Effective Time into an exercisable option (each an "EBIZ Option") to purchase a number of shares of EBIZ Common Stock equal to the number shares of JBSI Common Stock that could have been purchased under the JBSI Option multiplied by 1.78, at a price per share of EBIZ Common Stock equal to the option exercise price determined pursuant to the JBSI Option divided by 1.78. The date of grant of a substituted EBIZ Option shall be deemed to be the date on which the corresponding JBSI Option was granted, and the expiration date of each such substituted EBIZ Option shall be the date upon which the corresponding JBSI Option would otherwise have expired. Except as otherwise expressly stated above in this Section 5.9, the terms and conditions of each substituted EBIZ Option shall be as set forth in the Plan, as in effect from time to time. At the Effective Time, EBIZ shall assume all of JBSI's obligations with respect to the JBSI Options as so amended and shall, from and after the Effective Time, make available for issuance upon exercise of the EBIZ Options all shares of EBIZ Common Stock covered thereby Within 15 days following the Effective Date, EBIZ shall file a registration statement on Form S-8 with the SEC to register the additional shares of EBIZ Common Stock subject to EBIZ Options granted in replacement of JBSI Options; provided, EBIZ and such shares of EBIZ Common Stock satisfy the requirements of using Form S-8.
Sample 1
AMENDMENT OF STOCK OPTION PLAN. (a) The Board of Directors of the Company is increasing by 5,5000,000 the number of options which may be granted under the Company's 1997 Stock Option Plan (the "Plan"), which options will be granted to senior management at 10 cents per share, and which options will vest on such terms as the Board or a committee of the Board deems most advisable to incentives members of senior management. Although the amendment to the Plan will be submitted to shareholders for approval in order to be in a position to grant ISO's, the Board shall be permitted to grant non-ISO options without shareholder approval. (b) The Company will promptly file a registration statement on Form S-8 to cover the grant of these options and the sale of the shares acquired upon exercise thereof.
Sample 1
AMENDMENT OF STOCK OPTION PLAN. The Board of Directors of Target shall take all appropriate action to make any necessary amendments to the terms of the Target Stock Option Plan or grants thereunder to permit the assumption of Target Stock Options by Acquiror in accordance with the terms hereof.
Sample 1

Related to AMENDMENT OF STOCK OPTION PLAN

  • Grant of Stock Option The Company hereby grants the Optionee an Option to purchase shares of Common Stock, subject to the following terms and conditions and subject to the provisions of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. The Option is not intended to be and shall not be qualified as an “incentive stock option” under Section 422 of the Code.

  • Stock Option Plan The Executive shall be eligible to participate in the Company's Stock Option Plan in accordance with the terms and conditions thereof.

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

  • Treatment of Stock Options At the Effective Time, with respect to each outstanding option to purchase Shares (a “Company Option”) under the Company Stock Plans, whether vested or unvested, (x) if the exercise price of such Company Option is equal to or greater than the Cash Election Consideration, such Company Option shall terminate and be cancelled as of immediately prior to the Effective Time, without any consideration being payable in respect thereof, and have no further force or effect, and (y) if the exercise price of such Company Option is less than the Cash Election Consideration, thirty percent (30%) of such Company Options held by each holder thereof (rounded to the nearest whole share), other than any Company Option that is not held by a Company Employee and any Company Option held by a non-employee Director, shall be deemed to be “Rollover Options” and the remaining Company Options (other than Company Options cancelled pursuant to clause (x) above) shall be deemed to be “Cash-Out Options”. At the Effective Time, automatically and without any required action on the part of the holder thereof: (i) each such Cash-Out Option shall terminate and be cancelled as of immediately prior to the Effective Time in exchange for the right to receive, in accordance with this Section 4.6(a), a lump sum cash payment in the amount equal to (i) the number of Shares subject to the Company Option immediately prior to the Effective Time, multiplied by (ii) the excess, if any, of the dollar value of the Cash Election Consideration (the “Cash Award Consideration”), over the applicable exercise price (the “Option Payment”). The Option Payment (if any) payable under this Section 4.6(a) to each former holder of a Company Option that was outstanding immediately prior to the Effective Time shall be paid through the Surviving Company’s payroll to such former holder as soon as practicable following the Effective Time (but in any event not later than ten (10) Business Days thereafter), net of any Taxes withheld pursuant to Section 4.2(h); and (ii) each Rollover Option shall be assumed and converted automatically into a fully-vested option (an “Adjusted Stock Option”) to purchase, on substantially the same terms and conditions (other than vesting) as were applicable under such Rollover Option immediately prior to the Effective Time, the number of shares of Series C Common Stock (rounded down to the nearest whole number of shares) equal to the product of (A) the number of Shares subject to such Rollover Option immediately prior to the Effective Time, multiplied by (B) the Option Exchange Ratio, which Adjusted Stock Option shall have an exercise price per share of Series C Common Stock equal to the quotient (rounded up to the nearest whole cent) obtained by dividing (x) the exercise price per Share subject to such Rollover Option immediately prior to the Effective Time, by (y) the Option Exchange Ratio. The “Option Exchange Ratio” shall equal the quotient (rounded to four decimal places) obtained by dividing (i) the weighted average price of the Class A Shares on the NASDAQ on the Trading Day immediately prior to the date of the Effective Time by (ii) the Average Parent Stock Price.

  • NOTICE OF STOCK OPTION GRANT Name: Address:

  • Stock Option Agreement Each grant of an Option under the Plan shall be evidenced by a Stock Option Agreement between the Optionee and the Company. Such Option shall be subject to all applicable terms of the Plan and may be subject to any other terms that are not inconsistent with the Plan. The Stock Option Agreement shall specify whether the Option is an ISO or an NSO. The provisions of the various Stock Option Agreements entered into under the Plan need not be identical. Options may be granted in consideration of a reduction in the Optionee’s other compensation.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Exercise of Stock Option (a) The Optionee may exercise this Option only in the following manner: from time to time on or prior to the Expiration Date of this Option, the Optionee may give written notice to the Board of Directors or its authorized committee (the “Administrator”) of his or her election to purchase some or all of the vested Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be purchased. Payment of the Stock Option purchase price for the Option Shares may be made by one or more of the following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) in the form of shares of Stock that are not then subject to restrictions under any Company plan and that have been held by the Optionee for at least six months prior to the exercise date; or (iii) by the Optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Administrator to pay the Stock Option purchase price, provided that in the event the Optionee chooses to pay the Stock Option purchase price as so provided in this subsection (iii), the Optionee and the broker shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment procedure. Payment instruments will be received subject to collection. The delivery of certificates representing the Option Shares will be contingent upon the Company’s receipt from the Optionee of full payment for the Option Shares, as set forth above and any agreement, statement or other evidence that the Administrator may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. (b) Certificates for shares of Stock purchased upon exercise of this Stock Option shall be issued and delivered to the Optionee upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such issuance and with the requirements hereof and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of the shares subject to this Stock Option, or to have any of the rights of a holder, unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company shall have issued and delivered the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. (c) The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless the number of shares with respect to which this Stock Option is being exercised is the total number of shares subject to exercise under this Stock Option at the time. (d) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date hereof.

  • Exercise of Stock Options If stock options granted in connection with a Stock Incentive Plan are exercised: (1) Crescent Equities shall, as soon as practicable after such exercise, contribute to the capital of the Partnership an amount equal to the exercise price paid to Crescent Equities by the exercising party; (2) Crescent Equities shall, as of the date on which the purchase of the REIT Shares is consummated by such exercising party, be deemed to have contributed to the Partnership as Contributed Funds pursuant to Section 4.2.A(2) hereof an amount equal to the fair market value (computed using the "closing price" (as such term is defined in the definition of "Value" in Article I hereof) as of the date on which such purchase of REIT Shares is consummated by such exercising party) of the REIT Shares delivered by Crescent Equities to such exercising party; and (3) the General Partner's Partnership Interest shall remain unchanged, and the Partnership Interests of Crescent Equities and the other Limited Partners shall be adjusted as set forth in Section 4.2, based on the amount deemed to be contributed, determined pursuant to Section 4.6.B(2); provided that, for purposes of calculating the "Deemed Value of the Partnership" and the "Deemed Partnership Interest Value" under Section 4.2, the "Value" of a REIT Share shall be the "closing price" (as such term is defined in the definition of the term "Value" in Article I hereof) of a REIT Share as of the date on which the purchase of REIT Shares is consummated by the exercising party.

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!