Compensatory Stock Options Sample Clauses
The Compensatory Stock Options clause defines the terms under which an individual, typically an employee or contractor, is granted the right to purchase company stock as part of their compensation package. This clause outlines eligibility, the number of options granted, vesting schedules, and any conditions or restrictions on exercising the options. By specifying these details, the clause ensures both parties understand the value and limitations of the stock options, thereby aligning incentives and clarifying the compensation structure.
Compensatory Stock Options. In addition to Base Salary and subject to the provisions of Article III hereof, Employee has been granted, by the Management Review Committee of UWSI an option (THE "OPTION") to purchase up to 470,000 shares of common stock, no par value per share, of UWSI ("UWSI COMMON STOCK") at an exercise price per share equal to 125% of the average closing price of UWSI Common Stock on the New York Stock Exchange for the ten trading days immediately preceding the date the Merger becomes effective, all in accordance with the United Wisconsin Services, Inc. Equity Incentive Plan and pursuant to a stock option agreement in the form attached hereto as EXHIBIT A.
Compensatory Stock Options. The Company will use its best efforts to cause all compensatory stock options granted prior to the date of this Agreement, and still unexercised and outstanding as of the Closing Date, all of which unexercised and outstanding options are shown on the attached Schedule 6(d), to be cancelled by the Company effective with the Merger, and to be null and void, and no longer outstanding at the Closing Date; provided, however, that even if all of such compensatory stock options are not in fact cancelled by the Company as of the Merger, all unexercised and outstanding compensatory stock options shall be treated as if they were exercised by the holders of such options, and not outstanding, for purposes of Section 3(a)(4).
Compensatory Stock Options. HCB has reserved 191,764 shares of HCB Stock ("OPTION STOCK") for issuance pursuant to the terms of the stock option grants under its existing stock option plan ("OPTION PLAN"), of which options for 168,387 shares have been granted to various officers and directors of HCB and its subsidiaries, as shown on Schedule 1.04, and are currently outstanding. As of execution of this Agreement, all outstanding options for shares of HCB Stock shall become exercisable.
Compensatory Stock Options