Director’s Options. Director acknowledges that the Option and the stock options referred to below are the only stock options granted to him by the Company.
Director’s Options. At the end of each three (3) month period that Director serves as a Director of the Company, the Company will grant to Director an option (each “an Option”) to purchase Twelve Thousand Five Hundred (12,500) shares of the Company’s restricted Common Stock, at a price equal to One Dollar ($1.00) per share or in the alternative the price per share (the Strike Price) of the Company’s then current 409a valuation. Once established the Strike Price shall remain effective for any and all Options granted as a result of being a Director until there is a change in any future 409a valuation. Such 409a valuations shall not be retroactive for options previously granted to the Director. The term of each Option shall be for a period of four (4) years from the date of issue of each Option.
Director’s Options. Each holder of any Director Options shall have surrendered to the Company documentation satisfactory to Parent for the cancellation of all Director Options held by such holder pursuant to Paragraphs 1.9.3.3 and 1.9.5.3.
Director’s Options. The foregoing provisions of this Section ------------------ 2.5(c), as applied to Columbia/HCA Employees, are to be applied in a comparable manner with respect to any Columbia/HCA Options held by a member (or former member) of the Board of Directors of Columbia/HCA, except that any reference to employment shall be deemed to mean service as a member of such Board.
Director’s Options. The Employee shall participate in the Employer's then current directors' option plan as long as he remains a director of the Employer, such participation reflecting his membership on the Employer's Board of Directors and on the Board's standing committees.
Director’s Options. Prior to September 1, 2014, Company (i) shall obtain director and officer liability insurance with coverage reasonably acceptable to the Lender, (ii) shall appoint or cause to be appointed Xxxxxx X. Xxxxxx as a director and Chairman of the Board of the Company, (iii) shall adopt or amend or cause to be adopted or amended a Company equity compensation plan upon terms reasonably acceptable to the Lender (the “Plan”), and (iv) pursuant to the Plan, and in consideration of serving as a director and Chairman of the Board of the Company, shall grant to Xxxxxx X. Xxxxxx the option and right to purchase up to 2,500,000 shares of common stock, par value $0.001 per share, of the Company (the “Kopple Option”), at a purchase price of $0.50 per share, which Kopple Option shall have the following additional terms:
(a) The Kopple Option shall be subject to vesting at the rate of 500,000 shares per year beginning on the date of Xx. Xxxxxx’x appointment as a director and Chairman of the Board of the Company and on each successive anniversary thereof until fully vested;
(b) If Xx. Xxxxxx resigns or fails to serve as a director and Chairman of the Board the Company for any reason other than his death or incapacity or is removed as a director and Chairman of the Board of the Company as a result of his conviction of a felony criminal offense or his commission of any act involving fraud, embezzlement or willful misconduct (collectively, “Cause”), the Kopple Option shall be immediately terminated as to any unvested portion thereof;
(c) If Xx. Xxxxxx resigns or fails to serve as a director and Chairman of the Board as a result of his death, incapacity or removal as a director and/or Chairman of the Board of the Company for any or no reason other than Cause, or his failure to be appointed or elected as a director and Chairman of the Board of the Company for any or no reason, the Kopple Option shall fully vest as to any unvested portion thereof, provided that the Kopple Option shall not vest as otherwise provided for in this Section 7.3(c) if (i) his failure to be appointed or elected as a director and Chairman of the Board of the Company is a result of Xx. Xxxxxx’x refusal to stand for election as a director and/or the Chairman of the Board for any reason other than his death or incapacity, or (ii) if the Lender, Xx. Xxxxxx and any of their respective “affiliates” (as such term is defined in Rule 144 of the Securities Act) fails to vote their respective shares of Common Stock in f...
Director’s Options. Promptly following the execution of this ----------------- Agreement, IFT shall grant an aggregate of 250,000 options (the "OPTIONS") to the Hyatt Designees as a group (to be allocated in Hyatt's sole discretion) at an exercise price not to exceed $9.785 per share, which Options shall otherwise be in form and substance identical to options granted to other members of the Board. The shares of Class A Common Stock underlying the Option shall at all times following the date hereof be covered by an effective registration statement on Form S-8 (or any successor form). IFT agrees to reserve shares of Class A Common Stock to meet its obligations under the Options, and all shares of Class A Common Stock issued upon exercise of the Options shall be duly and validly issued, fully paid and nonassessable, free of any Liens (as defined in Section 5.4 below), not subject to any preemptive rights and shall be listed on any exchanges on which the Class A Common Stock is then listed.
Director’s Options. At the end of each monthly period that Director serves as a Director of the Company, the Company will grant to Director a Nonqualified Stock Option (each “an Option”) to purchase Seven Thousand (7,000) shares of the Company’s restricted common stock, at a price equal to One United States Dollar ($1.00) per share (the Strike Price) of the Company’s pursuant to the terms and conditions of the Company’s Omnibus Incentive Plan. The term of each Option shall be for a period of four (4) years from the date of issue of each Option.
Director’s Options. Not less than thirty days prior to the Merger Closing each holder of a Directors Option shall have entered into a written agreement with Regency for the express benefit of and reasonably satisfactory to MSBC agreeing to accept as of the Merger Closing in full satisfaction of the optionee's rights under such Directors Option that number of shares of MSBC Common Stock equal to the quotient obtained by dividing (y) the difference between $13.00 minus the respective Strike Price for such Option by (z) the Average MSBC Share Price ("Option Ratio"). If the Option Ratio computed in accordance with the immediately preceding sentence is less than the ratio ("Bottom Ratio") obtained by dividing (aa) the difference between $13.00 minus the respective Strike Price, by (bb) $32.00, the Option Ratio shall be the Bottom Ratio; if the Option Ratio computed in accordance with the immediately preceding sentence is greater than the ratio ("Top Ratio") obtained by dividing (i) the difference between $13.00 minus the respective Strike Price, (ii) by $26.00, the Option Ratio shall be the Top Ratio. As of the Merger Closing, the optionees with respect to all outstanding Directors Options shall by agreement be entitled to receive from MSBC only the shares of MSBC Common Stock as provided in the agreements executed in accordance with this Paragraph and shall have no further rights under the terms of their Directors Options.
Director’s Options. Each optionee with respect to each Regency Directors Option shall by written agreement with Regency for the express benefit of MSBC be entitled to receive from MSBC only the shares of MSBC Common Stock provided in Paragraph U of
