Bonus Stock Options Sample Clauses

Bonus Stock Options. (a) In addition to the Base Salary described in Section 3(a) hereof, during the Employment Period, the Employee shall be eligible to receive an annual cash bonus based upon the Employee's achievement of performance objectives to be determined mutually by the Company and Employee each year (the "Annual Cash Bonus"). The targeted Annual Cash Bonus for ADP's fiscal year ended June 30, 2001 shall be 25% of the annual Base Salary, forty-six thousand dollars ($46,000), with a potential to earn up to 37.5% of the annual Base Salary, sixty-nine thousand dollars ($69,000), based, among other things, upon achievement of performance objectives. Additionally, during the term of this Employment Agreement the Employee and the Company shall establish "stretch" bonus goals with respect to the net operating income component of the Employee's performance objectives thereby entitling the Employee to an additional bonus of 200% of the bonus component related to that performance objective. If the Annual Cash Bonus becomes payable, it will be paid within ninety (90) days after the end of ADP's applicable fiscal year provided that the Employee is an employee of the Company on the last day of such fiscal year. Notwithstanding the foregoing, the pro-rated Annual Cash Bonus for the portion of the Company's fiscal year ended June 30, 2000 that the Employee is employed hereunder shall be paid together with the Annual Cash Bonus for the Company's fiscal year ended June 30, 2001. (b) As soon as practicable after the date hereof, the Company shall recommend to ADP's stock option committee that the Employee receive an option to purchase ten thousand (10,000) shares of ADP common stock which shall vest in five equal installments over a five-year period from the date of grant and shall be subject to the terms and conditions of such option grant.

Bonus Stock Options. (a) In addition to his Salary, Executive shall be eligible to receive a potential annual target cash bonus (the “Target Cash Bonus”) of 75% of his Salary on an annual fiscal year basis, in accordance with the terms of the Corporation’s Board approved executive incentive compensation or bonus plan, if any, or as otherwise approved by the Board. The determination of any Target Cash Bonus payment to be made shall be based on Executive’s and / or the Corporation’s achievement of financial goals and other measurement criteria, as defined and approved by the Board each year. The annual Target Cash Bonus is payable at the discretion of the Compensation Committee and Board. The Target Cash Bonus for any particular calendar year, if any, will be paid by March 15 of the following calendar year. Notwithstanding anything contained in this Section 4.2(a) to the contrary, Executive’s Target Cash Bonus in respect of calendar year 2017 shall be determined based on Executive’s achievement of performance objectives during the period commencing on the Effective Date and ending on December 31, 2017 (the “2017 Performance Period”), which performance objectives shall be agreed to by the Board and Executive. (b) As additional compensation for his services hereunder, Executive shall be eligible to receive, as promptly as possible following the Effective Date, an option to purchase a number of shares of the Corporation’s common stock representing seven percent (7%) of the Corporation’s total outstanding shares on the date of grant, subject to and in accordance with the terms and provisions of the Corporation’s current Equity Incentive Plan, as amended (the “Plan”) and the applicable award agreement in accordance with the schedule attached hereto as Schedule 1. An amount equal to fifty percent (50%) of such stock options will vest immediately on the Effective Date and the remaining fifty percent (50%) will vest quarterly over two years in equal installments, irrespective of Executive remaining in the role contemplated by this Agreement. (c) Subject to Compensation Committee and Board approval, for each fiscal year during the term of his employment following the first fiscal year, Executive shall be eligible to receive, simultaneous with receipt of the Target Cash Bonus described in Section 4.2 (a), options to purchase a number of shares of the Corporation’s common stock with an aggregate fair market value (determined by the quoted price of the common stock on Nasdaq or other nation...

Bonus Stock Options. Within sixty (60) days after the Securities and Exchange Commission declares the Registration Statement on Form S-1 to be filed by Employer, effective, Employee will be issued an Incentive Stock Option (“ISO”) to purchase up to Seven Hundred Thousand (700,000) shares of Employer’s common stock. The ISO will have an exercise price equal to 85% of the fair market value of the Employer’s common stock on the date of grant. The ISO will vest according to the following schedule: (i) If GMS’ annual gross sales increase at least Fifty Percent (50%) from January 1st, 2011 through December 31st, 2011, from the annual gross sales from January 1st, 2010 through December 31st, 2010, then employee will vest in one quarter of the ISO shares (i.e. will be able to exercise One Hundred Seventy Five Thousand (175,000) of the Seven Hundred Thousand (700,000) options to purchase the Employer’s common stock ); (ii) If GMS’ annual gross sales increase at least Fifty Percent (50%) from January 1st, 2012 to December 31st, 2012 from the annual gross sales from January 1st, 2011 through December 31st, 2011, then Employee will vest in one quarter of the ISO shares (i.e. will be able to exercise One Hundred Seventy Five Thousand (175,000) of the Seven Hundred Thousand (700,000) options to purchase the Employer’s common stock); (iii) If GMS’ annual gross sales increase at least Fifty Percent (50%) from January 1st, 2013 to December 31st, 2013 from the annual gross sales from January 1st, 2012 through December 31st, 2012 then Employee will vest in one quarter of the ISO shares(i.e. will be able to exercise One Hundred Seventy Five Thousand (175,000) of the Seven Hundred Thousand (700,000) options to purchase the Employer’s common stock); (iv) If GMS’ annual gross sales increase at least Fifty Percent (50%) or greater from January 1st, 2014 to December 31st, 2014 from the annual gross sales from January 1st, 2013 through December 31st, 2013 then Employee will vest in one quarter of the ISO shares(i.e. will be able to exercise One Hundred Seventy Five Thousand (175,000) of the Seven Hundred Thousand (700,000) options to purchase the Employer’s common stock).

Bonus Stock Options. (a) In addition to his Salary, Executive may receive a cash or cash equivalent bonus (“Bonus”) in respect of each calendar year during the Term. The Bonus for each calendar year shall be determined by the Compensation Committee and the Board in their sole discretion. The Target Bonus shall be fifty percent (50%) of the Salary in any one year, with a maximum amount at the sole discretion of the Compensation Committee and the Board. Such Bonus may be a mix of cash and stock, as determined by the Board in its sole discretion. Objectives for the Bonus will be set and agreed to by the Board and Executive at the beginning of each calendar year. The Bonus for any particular calendar year, if any, will be paid by March 15 of the following calendar year. (b) Subject to Compensation Committee and Board approval, Executive shall be eligible to receive, as promptly as possible following the Effective Date, an option to purchase one hundred and fifty thousand (150,000) shares of the Corporation’s Common Stock, subject to and in accordance with the terms and provisions of the Corporation’s 2012 Equity Incentive Plan, as amended (the “Plan”) and the applicable award agreement. Such stock options will vest quarterly over three years in equal installments. (c) Subject to Compensation Committee and Board approval, for each fiscal year during the term of his employment following the first fiscal year, Executive may be eligible to receive, at such time as the Compensation Committee and Board may deem appropriate, options to purchase additional shares of the Corporation’s Common Stock in accordance with the terms and provisions of the Plan or any successor plan.

Bonus Stock Options. For each calendar year beginning on January 1, 2016 Executive will be eligible to receive additional equity incentive awards with respect to each such calendar year of the Company based upon Executive's perceived performance during such calendar year and the achievement of the Company targeted results of operations as set by the Board of Directors during the Company's budgeting process in the previous calendar year. Such equity incentive awards may be in the form of options to purchase shares of the Company's common stock, awards of restricted stock, stock appreciation rights, or other awards as determined by the Board or a Committee of the Board. The target number of shares subject to each annual award shall be one-half of one percent of the outstanding shares of the Company; provided, however, that the actual amount of the award, the vesting provisions and other terms and conditions of each award will be determined by the Board or a Committee of the Board.

Bonus Stock Options. (a) In addition to the annual Salary, Executive shall be eligible to receive certain bonuses during his employment as follows: (i) Executive shall receive a $5,000 bonus for each Abbreviated New Drug Application (“ANDA”) submitted under Executive’s supervision and accepted for filing by the Federal Drug Administration (“FDA”); (ii) Executive shall receive a $10,000 bonus for each ANDA that is submitted under Executive’s supervision and approved by the FDA; (iii) Executive shall receive a $5,000 bonus for each ANDA that is, as of the Effective Date pending with the FDA for at least twelve (12) months and which is approved by the FDA; and (iv) Executive shall receive a $10,000 bonus for each ANDA that is, as of the Effective Date pending with the FDA for less than twelve (12) months and which is approved by the FDA; and (v) Executive shall be entitled to participate in the Corporation’s executive bonus pool. (b) All bonuses payable pursuant to Section 4.2(a) shall be calculated and payable at such time as bonuses for the Corporation’s executives are regularly calculated and payable. Executive shall be entitled to only one bonus for each ANDA approved by the FDA, such bonus to be payable under only one of Section 4.2(a)(ii), Section 4.2(a)(iii), or Section 4.2(a)(iv). The bonuses payable under Section 4.2(a) shall not, in the aggregate, exceed 50% of Executive’s Salary for the year in which such bonuses are payable. (c) Executive shall receive, on the Effective Date, an option to purchase forty thousand (40,000) shares of the Corporation’s Common Stock (the “Stock Option”), subject to and in accordance with the terms and provisions of the Corporation’s Amended and Restated Stock Option Plan (the “Plan”). The Stock Option shall vest in 25% increments on the first through fourth anniversaries of the grant date and shall be governed by the terms of the Plan, a copy of which has been provided to Executive. (d) On or after each of the first and second anniversaries of the Effective Date, executive shall receive an option to purchase forty thousand (40,000) shares of the Corporation’s Common Stock (the “Stock Option”), subject to and in accordance with the terms and provisions of the Plan. However, the Compensation Committee and Stock Option Committee shall make the final determination.

Bonus Stock Options. (a) In addition to the Base Salary, Executive may receive a cash or cash equivalent bonus (“Bonus”) in respect of each calendar year during the Term, including, without limitation, calendar year 2021. The Bonus for each calendar year shall be determined by the Compensation Committee in its sole discretion. The “Target Bonus” shall be forty percent (40%) of the Base Salary in any one year, with the amount at the sole discretion of the Compensation Committee. Objectives for any Bonus will be set by the Compensation Committee in consultation with the CEO at the beginning of each calendar year. The Bonus for any particular year, if any, will be paid by March 15 of the following calendar year. Notwithstanding anything contained in this Section 4.2(a) to the contrary, Executive’s Bonus for the 2021 calendar year shall be determined based on Executive’s achievement of performance objectives during the period commencing on the Employment Commencement Date and ending on December 31, 2021 (the “2021 Performance Period”), which performance objectives shall be set by the Compensation Committee in consultation with the CEO, and the Bonus earned by Executive in respect of calendar year 2021, if any, shall be pro-rated based on the number of days in the 2021 Performance Period, as compared to the total number of days in such calendar year.

Bonus Stock Options. (a) In addition to his Base Salary, Executive may receive a bonus (“Bonus”) during each year of employment during the term of this Agreement. The Bonus for each year shall be determined in accordance with the performance goals set by the Compensation Committee of the Board of Directors and the President of the Corporation in their sole discretion. The Bonus may be based on, among other things, Executive’s development and implementation of strategic objectives, acquisitions, product development, strategic alliances, including, but not limited to, licensing arrangements and joint ventures, financings and strategic divestitures. The Bonus shall be paid in cash within 30 days of November 1 of each year. (b) On the Effective Date, Executive shall receive options to purchase forty-five thousand (45,000) shares of the Corporation’s Common Stock (“Options”). The Options shall be at fair market value on the Effective Date and shall be governed in accordance with the terms and provisions of the Corporation’s 2009 Stock Option Plan (the “Plan”). In addition, during the term of this Agreement, Executive shall be eligible to receive annually options to purchase a minimum amount of fifty thousand (50,000) shares of the Corporation’s Common Stock, each in accordance with the terms and provisions of the Plan. Such options shall vest in accordance with the terms of the Plan, a copy of which shall be provided to Executive. All options to purchase shares of the Corporation’s Common Stock shall be granted annually to Executive on the same date as all other stock options are granted to the Corporation’s employees and management. Nothing herein shall preclude the Corporation from granting Executive additional options such as the Compensation Committee of the Board of Directors, in its discretion, may authorize from time to time.

Bonus Stock Options. (a) In addition to the Compensation payable to the Chief Business Officer and General Counsel, the Chief Business Officer and General Counsel shall receive an annual Bonus (the “Bonus”) of up to 50% of the Chief Business Officer and General Counsel’s then applicable Compensation, based on the Chief Business Officer and General Counsel’s and / or the Company’s achievement of specified performance indicators (the “Goals”), as determined by the Board or the Compensation Committee of the Board if such a Committee is in existence. The Bonus shall be payable in cash and up to 50% in shares of the Company’s Common Stock (the “Common Stock”), at the Chief Business Officer and General Counsel’s own discretion. The Common Stock component of the Bonus shall be paid in a manner consistent with the Company’s Stock Award Program, if applicable. The Bonus shall be calculated within thirty (30) days after the end of the applicable year (or after this Agreement was terminated) and will be paid promptly thereafter, including after the Term, and including partially. The Goals for each year of the Term, other than the initial year, shall be set by the Board no later than thirty (30) days after the commencement of the applicable annual period. Bonus metrics for the first period (2018) will be set up as soon as possible after execution of this Agreement by the Board and the Compensation Committee if such a Committee is in existence. (b) As additional compensation for the services hereunder, the Chief Business Officer and General Counsel shall receive (i) as promptly as possible following the Effective Date, 400,000 shares of the Company’s Common Stock of the Company; and (ii) and a grant, effective as of the Effective Date, Company of 300,000 Company Shares of Common Stock, with a quarterly vesting during the Term of this Agreement, with the first 25,000 Company Shares vesting on November 30, 2018 and 25,000 Company Shares vesting on the last day of each three month period thereafter; provided that at the vesting date the Chief Business Officer and General Counsel is employed with the Company. (c) Subject to the approval of the Compensation Committee of the Board or the Board if there is no Compensation Committee, as applicable, for each fiscal year during the term of his consultancy following the first fiscal year, Chief Business Officer and General Counsel shall be eligible to receive, simultaneous with receipt of the Cash Bonus described in Section 4.2 (a), options to purcha...

Bonus Stock Options. In addition to the monthly base salary and any ------------------- other benefits available to all employees and consultants, including standard incentive qualified stock options, XxxxxXxxxx.xxx will grant to Jupiter bonus stock options to purchase 5,000,000 common shares of XxxxxXxxxx.xxx restricted common shares (the "Bonus Stock Options"), vesting 2,000,000 common shares on March 31, 2003, 2,000,000 common shares on March 31, 2004 and 1,000,000 common shares on March 31, 2005. The Bonus Stock Options carry an anti-dilution provision and are not subject to a reverse split. For all purposes related to the Grant for these options, the Board of Directors of XxxxxXxxxx.xxx has determined that the date of such grant is January 8, 2003 and the Fair Market Value per share as of the date of such grant is US $0.45. The termination of this Agreement will not cause the forfeiture of any of the Bonus Stock Options. In the event of Perfect's death or disability all unvested options shall immediately vest and be exercisable by Jupiter, Perfect's representative or executor, as applicable.