Base Grant. Not later than May 10, 2021, Employee shall be granted Options to purchase 30,000 shares of the Company’s common stock with an exercise price equal to the fair market value at the time of grant. Such Options will be on the Company’s customary terms and conditions and, subject to Employee’s continued employment, shall vest as follows: (a) 10,000 Options shall vest upon the first anniversary of the Commencement Date of this Agreement; (b) 10,000 Options shall vest upon the second anniversary of the Commencement Date of this Agreement; and (c) 10,000 Options shall vest upon the third anniversary of the Commencement Date of this Agreement.
Base Grant. The Base Grant shall vest with respect to (A) 25,000 shares on the date hereof, (B) 100,000 shares on March 31, 2005, (C) 100,000 shares on December 31, 2005 and (D) 25,000 shares on March 31, 2006, and shall become exercisable with respect to (x) 125,000 shares on March 31, 2005, (y) 100,000 shares on December 31, 2005 and (z) 25,000 shares on March 31, 2006.
Base Grant. The Executive shall be granted an option to purchase 250,000 shares of Company common stock (the "Base Grant") which options shall vest with respect to (A) 25,000 shares on the date hereof, (B) 100,000 shares on March 31, 2005, (C) 100,000 shares on December 31, 2005 and (D) 25,000 shares on March 31, 2006, and shall become exercisable with respect to (x) 125,000 shares on March 31, 2005, (y) 100,000 shares on December 31, 2005 and (z) 25,000 shares on March 31, 2006.
Base Grant. In accordance with the terms and conditions of this Agreement, Department shall subgrant to Subrecipient, from financial assistance the Department receives from the United States Department of Health and Human Services under Title IV-D of the Social Security Act (“Federal Financial Participation”) to administer the State Plan for Collection of Child Support and Establishment of Paternity and approved by United States Department of Health and Human Services in accordance with Title IV-D of the Social Security Act (“State Plan”), an amount (the “Base Grant”) no greater than the actual Allowable Costs (as defined below) necessarily incurred and paid by DA, or by Subrecipient from funds other than those appropriated to the DA, during the term of this Agreement to operate the Program (as defined below). The Base Grant moneys may be used solely to deliver child support services that fall within the responsibility of the DA under ORS 25.080, as further described in Exhibit A, attached hereto and incorporated herein by “Program”.
Base Grant. Subject to Sections 2 and 3(b), Department shall disburse the Base Grant moneys to Subrecipient quarterly after the end of each calendar quarter falling in whole or in part during the period commencing on July 1, 2015 and ending on the termination date of this Agreement. Quarterly disbursement will be made within 30 days after Department’s receipt of Subrecipient’s invoice for that quarter. Each disbursement shall be in an amount equal to the actual Allowable Costs (as defined below) necessarily incurred and paid by Subrecipient or DA during the quarter in operating the Program, less enforcement fees or other fees received by Subrecipient or DA with respect to the Program during the quarter, as evidenced by satisfactory documentation multiplied by the federally-authorized rate of federal financial participation set by the United States Department of Health and Human Services in accordance with 42 USC 655.
Base Grant. The Base Grant moneys are available solely to cover actual Allowable Costs (as defined below) necessarily incurred and paid by DA, or Subrecipient from funds other than those appropriated to the DA, to operate the Program during the term of this Agreement. Allowable Costs are those defined in 2 CFR Part 200, Subpart F (audit requirements) and 2 CFR Part 225 (OMB Circular A-87), except to the extent otherwise limited or excluded by the terms of this Agreement. Allowable Costs include the following:
