Common use of Award of Option Clause in Contracts

Award of Option. The Company hereby grants the Participant an option (the "Option"), which shall be an NQO (a non-qualified stock option), to purchase [_______] shares (the "Option Shares") of Common Stock of the Company at the Exercise Price of [FAIR MARKET VALUE] per share, subject to adjustment in accordance with the Plan, on the terms and subject to the conditions set forth herein and in the Plan (the "Award Date" for the Option shall be the date of this Agreement).

Appears in 2 contracts

Samples: Non Qualified Stock Option Award Agreement (Tenneco Inc), Non Qualified Stock Option Award Agreement (Tenneco Automotive Inc)

AutoNDA by SimpleDocs

Award of Option. The Company hereby grants the Participant an option (the "Option"), which shall be an NQO (a non-qualified stock option), to purchase [_______] _ shares (the "Option Shares") of Common Stock of the Company at the Exercise Price of $[FAIR MARKET VALUEfair market value] per share, subject to adjustment in accordance with the Plan, on the terms and subject to the conditions set forth herein and in the Plan (the "Award Date" for the Option shall be the date of this Agreement).

Appears in 1 contract

Samples: Non Qualified Stock Option Award Agreement (Tenneco Automotive Inc)

Award of Option. The Company hereby grants the Participant an option (the "Option"), which shall be an NQO (a non-qualified stock option), to purchase [_______] shares (the "Option Shares") of Common Stock of the Company at the Exercise Price of [$FAIR MARKET VALUE] per share, subject to adjustment in accordance with the Plan, on the terms and subject to the conditions set forth herein and in the Plan (the "Award Date" for the Option shall be the date of this Agreement).

Appears in 1 contract

Samples: Non Qualified Stock Option Award Agreement (Tenneco Automotive Inc)

Award of Option. The Company hereby grants the Participant an option (the "Option"), which shall be an NQO (a non-qualified stock option), to purchase [purchase_______] _ shares (the "Option Shares") of Common Stock of the Company at the Exercise Price of $[FAIR MARKET VALUEfair market value on grant date] per share, subject to adjustment in accordance with the Plan, on the terms and subject to the conditions set forth herein and in the Plan (the "Award Date" for the Option shall be the date of this Agreement).

Appears in 1 contract

Samples: Non Qualified Stock Option Award Agreement (Tenneco Automotive Inc)

AutoNDA by SimpleDocs

Award of Option. The Company hereby grants the Participant an option (the "Option"), which shall be an NQO (a non-qualified stock option), to purchase [_______] XXX shares (the "Option Shares") of Common Stock of the Company at the Exercise Price of [FAIR MARKET VALUE] $ per share, subject to adjustment in accordance with the Plan, on the terms and subject to the conditions set forth herein and in the Plan (the "Award Date" for the Option shall be the date of this Agreement).

Appears in 1 contract

Samples: Non Qualified Stock Option Award Agreement (Tenneco Inc)

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