Annual Option Grants. In addition, the Committee shall grant Employee additional options according to the following schedule: 2003 - 70,000 options, 2004 - 60,000 options and 2005 -50,000 options. Except in respect of 2003, one half of the annual options will be granted in January and one half in July of each year during the Term. Except in respect of 2003, annual options will vest and become exercisable six months following the date of grant and shall also become vested and exercisable if Employee's employment terminates pursuant to Section 9(d) below. In 2003, the annual option grant will made on October 1st and such option shall be fully vested and exercisable on the date of grant. All annual option grants shall be granted at a per share exercise price equal to the then fair market value (as defined in the LTIP) of a share of Alamosa common stock.
Annual Option Grants. On the first business day of January of each year, the Committee shall grant Employee options according to the following schedule: 2005 - 80,000 options, 2006 - 64,000 options and 2007 - 51,200 options (each an "Option"). With respect to each Option, three percent (3%) of the total number of shares subject to such Option shall become vested and fully exercisable each month following the date of the grant of such Option. All shares subject to each Option will vest and become vested and exercisable if Employee's employment terminates pursuant to Section 9(d) below. Each Option shall have a per share exercise price equal to the fair market value (as defined in the LTIP) of a share of Alamosa common stock on the date of grant.
Annual Option Grants. Commencing on June 1, 1996, and annually thereafter on such date during the term of this Plan, each director who attended, during the previous fiscal year, at least 75% of the meetings of the Company's Board and committees for which such director was a member (unless a majority of the entire Board of Directors determines to excuse for good cause such lack of attendance), shall be granted on such date an option to purchase 815 shares of Common Stock (or such pro rata number of shares as remain available under this Plan, if less than 815) for such Board service. Notwithstanding the foregoing, these options may be relinquished for the previous year upon the vote of two-thirds of the entire Board of Directors.
Annual Option Grants. At the end of the initial twelve (12) -------------------- months of this Agreement, and provided this Agreement is renewed and remains in force and effect, Consultant shall be granted an option, extending five (5) years from the end of said twelve (12) month period, to purchase Two Hundred Thousand (200,000) shares of restricted common stock of INS, ("12 Month Option"), which 12 Month Option is exercisable, in whole or in part, at an exercise price of $2.00 per share. Further, at the end of the initial twenty four (24) months of this Agreement, provided this Agreement is renewed and remains in force and effect, Consultant shall be granted an option, extending five (5) years from the end of said twenty four (24) month period, to purchase Ninety Thousand (90,000) shares of restricted common stock of INS ("24 Month Option"), which 24 Month Option is exercisable, in whole or in part, at an exercise price of $3.00 per share.
Annual Option Grants. Executive shall be eligible to participate in and receive annual grants of options under the Option Plan. Any such annual grants shall be awarded at the Company’s discretion based on the Committee’s evaluation of performance and Peer Group compensation practices, taking into account Company and individual performance objectives. The Company shall provide an equity pool (the “Equity Pool”) equal to sixteen percent (16%) of the total outstanding equity of the Company, which shall be calculated in the same manner as the Sign On Option Grant and which shall consist of (i) the Sign On Option Grant, (ii) the “Sign On Option Grant” to be issued to Xxxxxx Xxxxx, as such term is defined in the Executive Employment Agreement between the Company and Xxxxxx Xxxxx, and (iii) any options granted on or following the Effective Date to officers, management and consultants of the Company. In order to effectuate the creation of the Equity Pool, the Company shall take all reasonable and necessary steps to amend the Option Plan, including obtaining any requisite shareholder approval, to increase the number of Shares available for grant under the Option Plan such that six percent (6%) of the total outstanding equity of the Company, which shall be calculated in the same manner as the Sign On Option Grant, shall be reserved for grant, on or following the Effective Date, to officers, management and consultants of the Company. In its sole discretion, the Committee may grant additional options to Executive in future years.
Annual Option Grants. The executive shall be eligible to receive annual stock option grants based upon corporate performance, as determined by the Board in its exclusive discretion.
Annual Option Grants. At the beginning of each of fiscal year 2002 and 2003, the Committee will grant the Executive an option to purchase shares of the Company’s common stock, which option shall have a Black Scholes value of $5 million dollars, as determined by the Company in a manner consistent with the method used to determine the face value of the new hire option “non-premium option” described in Section 3(g)(i)(A), above. Each grant shall be in accordance with the terms of the ADC 1991 Stock Incentive Plan, as the same shall be amended from time to time, and stock option agreements to be entered into by the Executive and the Company. Each annual grant of stock options for fiscal year 2002 and 2003 shall be designated as incentive stock options to the maximum extent permitted by the Internal Revenue Code of 1986, as amended, and the remainder shall be designated as non-qualified stock options.
Annual Option Grants. Executive shall be eligible to receive an -------------------- annual grant of options to purchase Holding Common Stock, in an amount and on terms consistent with grants historically made to the Company's and Holding's senior management executives.
Annual Option Grants. Section 3 (g) (ii) provides that at the beginning of each of fiscal year 2002 and 2003 Executive shall be granted an option to purchase shares of the Company's common stock, which options are to have a Black Scholes value of $5 million at the time grant. The Company has satisfied its obligations regarding annual option grants for fiscal year 2002 and the Executive voluntarily waives this provision with regard to the fiscal year 2003 option grant and also waives the right to receive the option grant on November 1, which would have resulted in a grant of substantially more option shares. For fiscal year 2003, Executive shall instead receive the following grants:
Annual Option Grants. During his employment with the Company hereunder, Executive shall be eligible for additional option grants after completion of each of the fiscal years ending in 2004, 2005, 2006, and 2007. Each grant will be based on the Company's performance relative to the average annual Total Shareholder Return for companies listed on the S&P 900 Index compounded over the three-year period ending on the last day of the applicable fiscal year ("Compounded TSR"), and will be subject to the terms and conditions of the Plan as then in effect and an option agreement substantially in the form attached as Exhibit B. For purposes of this Agreement, "Total Shareholder Return" or "TSR" shall be determined by the Company for each fiscal year as follows:
