Common use of Duration of the Options Clause in Contracts

Duration of the Options. Except as otherwise provided in Section 4 of the Terms and Conditions, if not previously forfeited, the Options shall expire and shall no longer be exercisable after the expiration of six years from the Grant Date. The Options are subject to the terms and conditions of the Company’s 2007 Incentive Compensation Plan (the “Plan”), and this Agreement, including the Terms and Conditions attached hereto. The number of Options, the number and kind of Shares deliverable upon exercise of Options, and other terms relating to the Options are subject to adjustment in accordance with Section 5 of the Terms and Conditions and Section 5.3 of the Plan. Employee acknowledges and agrees that (i) the Options are nontransferable, except as provided in Section 3 of the Terms and Conditions and Section 9.2 of the Plan, (ii) the Options are subject to forfeiture upon Employee’s Termination of Employment as set forth in Section 4 of the Terms and Conditions, and (iii) sales of Shares delivered in settlement of Options will be subject to the Company’s policies regulating trading by employees.

Appears in 2 contracts

Samples: 2007 Incentive Compensation Plan Stock Option Agreement (Gleacher & Company, Inc.), 2007 Incentive Compensation Plan Stock Option Agreement (Gleacher & Company, Inc.)

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Duration of the Options. Except as otherwise provided in Section 4 of the Terms and Conditions, if not previously forfeited, the Options shall expire and shall no longer be exercisable after the expiration of six years from the Grant Datedate. The Options are subject to the terms and conditions of the Company’s 2007 Incentive Compensation Plan (the “Plan”), and this Agreement, including the Terms and Conditions attached hereto. The number of Options, the number and kind of Shares deliverable upon exercise of Options, and other terms relating to the Options are subject to adjustment in accordance with Section 5 of the Terms and Conditions and Section 5.3 of the Plan. Employee acknowledges and agrees that (i) the Options are nontransferable, except as provided in Section 3 of the Terms and Conditions and Section 9.2 of the Plan, (ii) the Options are subject to forfeiture upon Employee’s Termination of Employment in certain circumstances, as set forth specified in Section 4 of the Terms and Conditions, and (iii) sales of Shares delivered in settlement of Options will be subject to the Company’s policies regulating trading by employees.

Appears in 2 contracts

Samples: Incentive Compensation Plan Stock Option Agreement (Broadpoint Securities Group, Inc.), Incentive Compensation Plan Stock Option Agreement (Broadpoint Securities Group, Inc.)

Duration of the Options. Except as otherwise provided in Section 4 of the Terms and Conditions, if not previously forfeited, the Options shall expire and shall no longer be exercisable after the expiration of six years from the Grant Date. The Options are subject to the terms and conditions of the Company’s 2007 Incentive Compensation Plan (the “Plan”), and this Agreement, including the Terms and Conditions attached hereto. The number of Options, the number and kind of Shares deliverable upon exercise of Options, and other terms relating to the Options are subject to adjustment in accordance with Section 5 of the Terms and Conditions and Section 5.3 of the Plan. Employee acknowledges and agrees that (i) the Options are nontransferable, except as provided in Section 3 of the Terms and Conditions and Section 9.2 of the Plan, (ii) the Options are subject to forfeiture upon Employee’s Termination of Employment in certain circumstances, as set forth specified in Section 4 of the Terms and Conditions, and (iii) sales of Shares delivered in settlement of Options will be subject to the Company’s policies regulating trading by employees.

Appears in 2 contracts

Samples: Incentive Compensation Plan Stock Option Agreement (Broadpoint Securities Group, Inc.), Incentive Compensation Plan Stock Option Agreement (Broadpoint Securities Group, Inc.)

Duration of the Options. Except as otherwise provided in Section 4 of the Terms and Conditions, if not previously forfeited, the Options shall expire and shall no longer be exercisable after the expiration of six years from the Grant Date. The Options are subject being granted as an inducement award pursuant to the terms “employee inducement” award exception of Nasdaq Listing Rule 5635(c)(4) and conditions of are not granted under the Company’s 2007 Incentive Compensation Plan (the “Plan”). The Options will be subject to the terms and conditions of the Plan (despite the fact that they are not granted under the Plan), and this Agreement, including the Terms and Conditions attached hereto. The number of Options, the number and kind of Shares deliverable upon exercise of Options, and other terms relating to the Options are subject to adjustment in accordance with Section 5 of the Terms and Conditions and Section 5.3 of the Plan. Exhibit B Employee acknowledges and agrees that (i) the Options are nontransferable, except as provided in Section 3 of the Terms and Conditions and Section 9.2 of the Plan, (ii) the Options are subject to forfeiture upon Employee’s Termination of Employment as set forth in Section 4 of the Terms and Conditions, and (iii) sales of Shares delivered in settlement of Options will be subject to the Company’s policies regulating trading by employees.

Appears in 1 contract

Samples: Inducement Stock Option Agreement (Gleacher & Company, Inc.)

Duration of the Options. Except as otherwise provided in Section 4 of the Terms and Conditions of Stock Options attached hereto (the “Terms and Conditions), if not previously forfeited, the Options shall expire and shall no longer be exercisable after the expiration of six years from the Grant Date. The Options are subject to the terms and conditions of the Company’s 2007 Incentive Compensation Plan (the “Plan”), and this Agreement, including the Terms and Conditions attached hereto. The number of Options, the number and kind of Shares deliverable upon exercise of Options, and other terms relating to the Options are subject to adjustment in accordance with Section 5 of the Terms and Conditions and Section 5.3 of the Plan. Employee acknowledges and agrees that (i) the Options are nontransferable, except as provided in Section 3 of the Terms and Conditions and Section 9.2 of the Plan, (ii) the Options are subject to forfeiture upon Employee’s Termination of Employment in certain circumstances as set forth in Section 4 of the Terms and Conditions, and (iii) sales of Shares delivered in settlement of Options will be subject to the Company’s policies regulating trading by employees.

Appears in 1 contract

Samples: 2007 Incentive Compensation Plan Stock Option Agreement (Gleacher & Company, Inc.)

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Duration of the Options. Except as otherwise provided in Section 4 of the Terms and Conditions, if not previously forfeitedthe Options will terminate and be of no force or effect in accordance with and to the extent provided by the terms and provisions of Section 10 of the Plan. In any event, the Options shall expire and shall no longer be exercisable after will terminate upon the expiration of six years from the Grant DateOption Period. The Options are subject to the terms and conditions of the Company’s 2007 Incentive Compensation Plan (the “Plan”), and this Agreement, including the Terms and Conditions attached hereto. The number of Options, the number and kind of Shares deliverable upon exercise of Options, and other terms relating to the Options are subject to adjustment in accordance with Section 5 of the Terms and Conditions and Section 5.3 12.2 of the Plan. Non-Employee Director acknowledges and agrees that (i) the Options are nontransferable, except as provided in Section 3 of the Terms and Conditions and Section 9.2 11 of the Plan, (ii) the Options are subject to forfeiture upon EmployeeNon-Employee Director’s Termination termination of Employment service in certain circumstances, as set forth specified in Section 4 of the Terms and Conditions, and (iii) sales of Shares delivered in settlement of the Options will be subject to the Company’s policies regulating trading by employees.

Appears in 1 contract

Samples: Stock Option Agreement (Gleacher & Company, Inc.)

Duration of the Options. Except as otherwise provided in Section 4 of the Terms and Conditions, if not previously forfeited, the Options shall expire and shall no longer be exercisable after the expiration of six years from the Grant Date. The Options are subject to the terms and conditions of the Company’s 2007 Incentive Compensation Plan (the “Plan”), and this Agreement, including the Terms and Conditions attached hereto. The number of Options, the number and kind of Shares deliverable upon exercise of Options, and other terms relating to the Options are subject to adjustment in accordance with Section 5 of the Terms and Conditions and Section 5.3 of the Plan. Employee acknowledges and agrees that (i) the Options are nontransferable, except as provided in Section 3 of the Terms and Conditions and Section 9.2 of the Plan, (ii) the Options are subject to forfeiture upon Employee’s Termination of Employment as set forth in Section 4 of the Terms and Conditions, and (iii) sales of Shares delivered in settlement of Options will be subject to the Company’s policies regulating trading by employees.

Appears in 1 contract

Samples: 2007 Incentive Compensation Plan Stock Option Agreement (Gleacher & Company, Inc.)

Duration of the Options. Except as otherwise provided in Section 4 of the Terms and Conditions, if not previously forfeitedthe Options will terminate and be of no force or effect in accordance with and to the extent provided by the terms and provisions of Section 10 of the Plan. In any event, the Options shall expire and shall no longer be exercisable after will terminate upon the expiration of six years from the Grant DateOption Period. The Options are subject to the terms and conditions of the Company’s 2007 Incentive Compensation Plan (the “Plan”), and this Agreement, including the Terms and Conditions attached hereto. The number of Options, the number and kind of Shares deliverable upon exercise of Options, and other terms relating to the Options are subject to adjustment in accordance with Section 5 of the Terms and Conditions and Section 5.3 12.2 of the Plan. Non-Employee Director acknowledges and agrees that (i) the Options are nontransferable, except as provided in Section 3 of the Terms and Conditions and Section 9.2 11 of the Plan, (ii) the Options are subject to forfeiture upon EmployeeNon-Employee Director’s Termination termination of Employment service in certain circumstances, as set forth specified in Section 4 of the Terms and Conditions, and (iii) sales of Shares delivered in settlement of Options will be subject to the Company’s policies regulating trading by employees.

Appears in 1 contract

Samples: Non Employee Directors Stock Plan Stock Option Agreement (Broadpoint Gleacher Securities Group, Inc.)

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