Common use of Annual Option Grants Clause in Contracts

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. In addition, the Committee shall grant Employee additional options according to the following schedule: 2003 - 70,000 150,000 options, 2004 - 60,000 125,000 options and 2005 -50,000 - 100,000 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. In addition, the Committee shall grant Employee additional options according to the following schedule: 2003 - 70,000 250,000 options, 2004 - 60,000 200,000 options, 2005 - 150,000 options, 2006 - 100,000 options and 2005 -50,000 2007 - 100,000 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.