Employee Stock Option. 3.1 The Stock Option Holder will receive a total of [number] Employee Stock Options, each giving the Stock Option Holder the right to acquire one (1) common share in the Company.
Employee Stock Option. Within 60 days following the Closing, --------------------- the Surviving Corporation shall issue to certain employees of the Company designated by Xxxxxx Xxxxxxxxxx III options to purchase in the aggregate 148,000 shares of Central Common Stock.
Employee Stock Option. On or as soon as practicable after the Effective Date, the Company shall grant the Executive an option to purchase Class B Units of the Company representing 0.50% of the total Units of the Company outstanding on the Effective Date. The per Unit exercise price will equal the per Unit price paid by Apollo in connection with the Acquisition. The remaining terms and conditions of the Executive’s option grant will be consistent with those terms and conditions that apply to options granted to other senior executives of the Company on or as soon as practicable after the Effective Date and contained in the form of option agreement, attached as Exhibit B, to be provided to the Executive and such other senior executives and in the Option Plan to be adopted by the Company on or as soon as practicable after the Effective Date, attached as Exhibit A (the “Option Plan”).
Employee Stock Option. The Company shall have created a pool of ESOPs convertible into Equity Shares under the ESOP Scheme (as defined below), up to a maximum of 12% (twelve percent) of the total issued and paid up share capital of the Company, on Fully Diluted Basis. For the purpose of this Clause, “ESOP Scheme” shall mean a scheme formulated by the Company in accordance with the Companies Xxx 0000, to offer ESOPs to the employees of the Company, from the ESOP pool which shall be formulated by the Parties and approved by the Board.
Employee Stock Option. On or as soon as practicable after the Effective Date, the Company shall grant the Executive an option to purchase 55,000 Class B Units of the Company at a price per Unit of $36.58. The remaining terms and conditions of the Executive’s option grant are contained in the form of option agreement, attached as Exhibit B, and in the Option Plan, attached as Exhibit A (the “Option Plan”).
Employee Stock Option. Simultaneous with the execution of this ----------------------- Agreement, Employee shall receive an option to acquire shares of stock of the -- Parent Company as noted in Exhibit"A" attached hereto. ----------
Employee Stock Option. The Company represents that the Company reserved at the Closing 12,240,118 Ordinary Shares (the “ESOP Pool”) for issuance upon the exercise of the Company’s Employee Stock Ownership Plan pursuant to which the Company may grant options to its employees, officers, directors or consultants of the Company and/or its subsidiaries (collectively, the “Employees”) to subscribe for up to 12,240,118 Ordinary Shares (subject to adjustment for any Recapitalizations). The Company further represents that options exercisable for only 6,555,845 Ordinary Shares from the ESOP Pool were issued to the Employees prior to the Closing.
Employee Stock Option. PLAN A maximum of 1,109,291 common units are available for grant to employees pursuant to the Employee Unit Option Plan (the "Option Plan"). The option price is equal to the fair market value on the date of grant, as determined by the Manager. All unit options granted under the Option Plan are exercisable up to 10 years from the date of grant. The options generally vest at a rate of 10% at the end of the first year, an additional 20% at the end of the second year, an additional 30% at the end of the third year and the balance at the end of the fourth year from the date of grant. The Company accounts for the Option Plan using the intrinsic value based method under which no compensation cost has been recognized in accordance with Statement of Financial Accounting Standards No. 123, "Accounting for Stock- Based Compensation". If a fair value based accounting method had been adopted, the Company's pro forma net loss would have been $18,804,035, $8,604,273 and $8,793,395 for the years ended December 28, 1997, December 29, 1996 and December 31, 1995, respectively. F-53 P&L FOODSERVICE, L.L.C. NOTES TO FINANCIAL STATEMENTS--(CONTINUED) The following table summarizes stock option activity and the related weighted average exercise price of the options. 1997 1996 1995 ---------------- ---------------- --------------- SHARES PRICE SHARES PRICE SHARES PRICE --------- ----- ---------- ----- -------- ----- Outstanding, beginning of period................... 1,109,291 $2.19 931,903 $2.15 901,694 $2.15 Granted................. -- -- 177,388 2.40 63,695 $2.15 Exercised............... -- -- -- -- -- -- Canceled................ (86,947) 2.37 -- -- (33,486) $2.15 Expired................. -- -- -- -- -- --------- ---------- -------- Outstanding, end of period................... 1,022,344 $2.18 1,109,291 $2.19 931,903 $2.15 ========= ========== ======== Exercisable, end of period................... 807,025 $2.12 649,362 $2.02 322,845 $2.00 ========= ========== ======== Weighted average fair value of options granted. $ .62 $ .70 ===== =====
Employee Stock Option. The Employee has heretofore been granted options to acquire 15,000 shares of the Employer pursuant to the Employer's
Employee Stock Option. On or as soon as practicable after the Effective Date, the Company shall grant the Executive an option to purchase 25,000 Class B Units of the Company. The per Unit exercise price will equal $66.16. The remaining terms and conditions of the Executive’s option grant will be consistent with those terms and conditions that apply to options granted to other senior executives of the Company on or as soon as practicable after the Effective Date and contained in the form of an option agreement to be provided to the Executive and such other senior executives and in the Company’s Option Plan (the “Option Plan”).
