Compensation; Stock Options Sample Clauses

Compensation; Stock Options. (a) (i) Executive shall be paid a minimum of (A) $120,000 per year during the first twelve (12) months of the Term; (B) $180,000 per year during the second twelve (12) months of the Term; and (C) not less than $180,000 per year during the third twelve (12) months of the Term. Executive shall be paid periodically in accordance with the policies and procedures of the Employer during the Term, but not less than monthly. In this regard, if Employer does not have sufficient cash flow to pay Executive his compensation that is due and payable hereunder in accordance with this Agreement’s terms, Employer shall so notify Executive of this circumstance and shall be entitled to suspend periodic payments of Executive’s compensation. Executive’s compensation will nevertheless continue to accrue and will be shown on Employer’s books and financial statements as a debt of Employer. When Employer has sufficient cash flow, it shall promptly pay Executive his accrued but unpaid compensation and recommence periodic payments of compensation under this Agreement.
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Compensation; Stock Options. In consideration for the performance of the Consulting Services, the Company shall cause ML Direct to grant to the Consultant non-qualified options pursuant to the option agreement attached hereto as Exhibit A. In addition, the Company shall pay to the Consultant the additional compensation as is specified on Schedule II hereto.
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Compensation; Stock Options. 3.1 The Company shall pay to you for the services to be rendered hereunder a basic salary at an annual rate of $120,000, subject to increase in accordance with the policies of the Company, as determined by its Board of Directors from time to time, payable in installments in accordance with Company policy.
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Compensation; Stock Options. In addition to the compensation Adereth is entitled from MagnaLab, the Company will gxxxx Xxxxxxx the option to purchase 1 M (one million) ordinary shares of MagnaLab which the Company currently holds.
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Compensation; Stock Options. 4.1 For all services to be rendered by the Employee during the Term, the Employee shall be entitled to the compensation set forth in Paragraphs 4.2, 4.3 and 4.4 hereof.
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Compensation; Stock Options. In consideration for the performance of the Consulting Services, the Company shall grant to the Consultant non-qualified options pursuant to the option agreement attached hereto as Exhibit A. In addition, the Company shall pay to the Consultant the additional compensation as is specified on Schedule II hereto.
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Compensation; Stock Options. Your base salary during the Employment Period shall be no less than $600,000 per year, payable in accordance with the Company's payroll practices as in effect from time to time. Your base salary will be reviewed annually by the Compensation Committee of the Company's Board of Directors (the "Compensation Committee") to determine whether an increase is warranted or appropriate. In addition, you shall be entitled to participate in the employment benefits provided by the Company under the TIG Executive Benefit Plan, including five (5) weeks of paid vacation. You also will be entitled to be considered for awards under the Company's then existing incentive bonus program which, in your case, will take into account individual and Company-wide performance, or such other performance criteria as the Compensation Committee may from time to time apply. It is understood and agreed that your initial target total annual compensation (i.e., base salary plus annual cash bonus plus the value of restricted stock grants valued as of the date of grant) will be $1.25 million. Your target total annual compensation will be reviewed annually by the Compensation Committee to determine whether an increase is warranted or appropriate. In addition, simultaneous with the execution and delivery of this letter agreement, you are being granted options to purchase 200,000 shares of common stock of the Company under the Company's 1996 Long-Term Incentive Plan, as amended from time to time (the "Plan"). The options will have an exercise price equal to the fair market value of the common stock of the company on the date of grant as determined in accordance with the Plan and will vest in four equal annual installments commencing on the first anniversary of the date of grant. The grant of such options will be evidenced by the Company's standard form Executive Non-Qualified Stock Option Agreement.
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Compensation; Stock Options 
Sample 1

Related to Compensation; Stock Options

  • Company Stock Options At the Effective Time, each Company Stock --------------------- Option shall be deemed to have been assumed by Evergreen, without further action by Evergreen, and shall thereafter be deemed an option to acquire, on the same terms and conditions as were applicable under such Company Stock Option, that number of shares of Surviving Corporation Common Stock that would have been received in respect of such Company Stock Option if it had been exercised immediately prior to the Effective Time (such Company Stock Options assumed by Evergreen, the "Assumed Chancellor Stock Options"); provided, however, that, for -------- ------- each optionholder, (i) the aggregate fair market value of Surviving Corporation Common Stock subject to Assumed Chancellor Stock Options immediately after the Effective Time shall not exceed the aggregate exercise price thereof by more than the excess of the aggregate fair market value of Company Common Stock subject to Company Stock Options immediately before the Effective Time over the aggregate exercise price thereof and (ii) on a share-by-share comparison, the ratio of the exercise price of the Assumed Chancellor Stock Option to the fair market value of the Surviving Corporation Common Stock immediately after the Effective Time is no more favorable to the optionholder than the ratio of the exercise price of the Company Stock Option to the fair market value of the Company Common Stock immediately before the Effective Time; and provided, -------- further, that no fractional shares shall be issued on the exercise of such ------- Assumed Chancellor Stock Option and, in lieu thereof, the holder of such Assumed Chancellor Stock Option shall only be entitled to a cash payment in the amount of such fraction multiplied by the closing price per share of Surviving Corporation Common Stock on the Nasdaq National Market on the business day immediately prior to the date of such exercise.

  • Employee Stock Options (a) At the Effective Time, each Eligible Stock Option that is then outstanding under the Company Option Plan, whether vested or unvested, shall be assumed by Parent in accordance with the terms (as in effect as of the date of this Agreement) of the Company Option Plan and the stock option agreement by which such Eligible Stock Option is evidenced. All rights with respect to Company Common Stock under outstanding Eligible Stock Options shall thereupon be converted into rights with respect to Parent Common Stock. Accordingly, from and after the Effective Time, (a) each Eligible Stock Option assumed by Parent may be exercised solely for shares of Parent Common Stock, (b) the number of shares of Parent Common Stock subject to each such assumed Eligible Stock Option shall be equal to the number of shares of Company Common Stock that were subject to such Eligible Stock Option immediately prior to the Effective Time multiplied by the Exchange Ratio, rounded down to the nearest whole number of shares of Parent Common Stock, (c) the per share exercise price for the Parent Common Stock issuable upon exercise of each such assumed Eligible Stock Option shall be determined by dividing the exercise price per share of Company Common Stock subject to such Eligible Stock Option, as in effect immediately prior to the Effective Time, by the Exchange Ratio, and rounding the resulting exercise price up to the nearest whole cent, and (d) all restrictions on the exercise of each such assumed Eligible Stock Option shall continue in full force and effect, and the term, exercisability, vesting schedule and other provisions of such Eligible Stock Option shall otherwise remain unchanged; provided, however, that each such assumed Eligible Stock Option shall, in accordance with its terms, be subject to further adjustment as appropriate to reflect any stock split, reverse stock split, stock dividend, recapitalization or other similar transaction effected by Parent after the Effective Time. The Company and Parent shall take all action that may be necessary (under the Company Option Plan and otherwise) to effectuate the provisions of this Section 1.6.

  • Incentive Stock Options If the Shares are held for more than twelve (12) months after the date of the transfer of the Shares pursuant to the exercise of an ISO and are disposed of more than two (2) years after the Date of Grant, any gain realized on disposition of the Shares will be treated as long term capital gain for federal and California income tax purposes. If Shares purchased under an ISO are disposed of within the applicable one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price.

  • Stock Options (a) Subsequent to the effectiveness of the Form 10, but prior to the consummation of the Distribution, and subject to the consummation of the Distribution, each option to purchase ALTISOURCE Common Stock (“ALTISOURCE Stock Options”) granted and outstanding under the 2009 Equity Incentive Plan of ALTISOURCE (“ALTISOURCE Option Plan”) shall remain granted and outstanding and shall not, and ALTISOURCE shall cause (to the maximum extent permitted under the ALTISOURCE Option Plan) the ALTISOURCE Stock Options not to, terminate, accelerate or otherwise vest as a result of the Distribution, and each holder thereof immediately prior to the Distribution will be entitled to the following, determined in a manner in accordance with, and subject to, the ALTISOURCE Option Plan, FAS123R and Section 409A of the Internal Revenue Code: (i) an option to acquire a number of shares of Residential Class B Common Stock equal to the product of (x) the number of shares of ALTISOURCE Common Stock subject to the ALTISOURCE Stock Option held by such holder on the Distribution Date and (y) the distribution ratio of one (1) share of Residential Class B Common Stock for every three (3) shares of ALTISOURCE Common Stock (the “Residential Stock Options”), with an exercise price to be determined in a manner consistent with this Section 3.04 and (ii) the adjustment of the exercise price of such holder’s ALTISOURCE Stock Option, to be determined in a manner consistent with this Section 3.04 (the “Adjusted ALTISOURCE Stock Options”) (the Residential Stock Options and the Adjusted ALTISOURCE Stock Options, together, the “Post-Distribution Stock Options”).

  • Restricted Stock and Stock Options Employer shall cause the Compensation Committee of the Board of Directors of Employer to review whether Employee should be granted shares of restricted stock and/or options to purchase shares of common stock of CBSI. Such review may be conducted pursuant to the terms of the Community Bank System, Inc. 2014 Long-Term Incentive Plan, a successor plan, or independently, as the Compensation Committee shall determine. Reviews shall be conducted no less frequently than annually.

  • Company Stock Option Plans Simultaneously with the execution of this Agreement, the Board of Directors of the Company (or, if appropriate, any committee administering the Company Stock Option Plans) shall adopt such resolutions or take such other actions as are required to effect the transactions contemplated by Section 2.10 in respect of all outstanding Options and thereafter the Board of Directors of the Company (or any such committee) shall adopt any such additional resolutions and take such additional actions as are required in furtherance of the foregoing.

  • Stock Option Awards During the Term, the Executive shall be eligible for awards of options to purchase shares of the Company’s common stock (the “Stock Options”), such Stock Options to be awarded in the sole discretion of the Compensation Committee and in accordance with the terms of the Company’s Stock Option Plan, as such Stock Option Plan may be amended, suspended or terminated from time to time.

  • Nonqualified Stock Options If the Shares are held for more than twelve (12) months after the date of purchase of the Shares pursuant to the exercise of an NQSO, any gain realized on disposition of the Shares will be treated as long term capital gain.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Stock Option Grants Executive will receive an annual grant of stock options during the term of this Agreement in a manner and under terms that are consistent with grants made to other executives of the Company.

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