Employee Stock Option Plan. Employee shall be entitled to participate in the Employee Stock Option Plan of the Company once approved by the Board of Directors.
Employee Stock Option Plan. (i) After the completion of the Offshore Reorganization, an employee share option plan (the “Original ESOP”) shall be adopted among the Company and the Founders pursuant to which options to purchase up to 2% of the Ordinary Shares issued and outstanding prior to the Closing may be issued to qualifying officers, directors and employees of the Company Group.
(ii) Options under the Original ESOP (“Options”) shall be granted by the Financial Committee (or any other committee of the Board of Directors formed for the purpose of deciding and administering matters relating to compensation).
(iii) The Ordinary Shares subject to the options (“Optionable Shares”) shall be made available for issuance under the Original ESOP by the Founders ratably in accordance with their respective holdings of Ordinary Shares prior to the Closing. The Founders shall place such Optionable Shares, together with undated share transfers executed in blank, in escrow with an agent (the “Option Agent”) for issuance against exercise of options. The Option Agent shall transfer Ordinary Shares (“Option Shares”) against the exercise of options in accordance with the terms of the Original ESOP.
(iv) The Original ESOP shall include such ordinary and customary terms as the Parties may agree, including among others the following:
(a) the Original ESOP shall be administered by the Financial Committee or such other committee, which shall grant Options in accordance with the provisions of the Original ESOP and on such other terms as they may in their discretion determine, in relation to the number of options, vesting schedule, exercise price and other terms;
(b) the vesting schedule for Options granted under the Original ESOP shall not be less than four (4) years, with a maximum of 25% of the Options under any grant vesting in each year;
(c) Options not exercised prior to the expiration date specified in the relevant grant shall expire, subject to any extension approved by the Financial Committee or such other committee;
(d) Options granted to employees whose employment is involuntarily terminated for cause, and Options granted to employees who voluntarily leave the employ of the Company, shall forthwith terminate;
(e) no Options granted under the Original ESOP shall have an exercise price of less than the greater of (A) fair market value of the Option Shares at the date of grant and (B) the purchase price per share of the Series A Preferred Shares purchased by the Series A Investor hereunder; and
(f)...
Employee Stock Option Plan. In addition to the Base Salary payable to the Executive pursuant to Section 3.1 hereof, and the Bonus payable to the Executive pursuant Section 3.2 hereof, the Corporation may issue stock options, in the sole discretion of the Corporation's Board of Directors or the Compensation Committee, it may desire as a result of the Executive's services.
Employee Stock Option Plan. During the year, the Company has not provided any Stock Option Scheme to the employees.
Employee Stock Option Plan. The Company shall reserve 5% of its total outstanding shares, on fully diluted basis for the Company employee stock incentive plan, immediately upon the Closing, before the conversion of the Convertible Note.
Employee Stock Option Plan. At this time, the Company does not have a Stock Option Plan in place. Notwithstanding, you will be eligible, at the discretion of the Employer’s board of directors, to participate in such plan at which time it is implemented. Any allocation of Stock Option is at the sole discretion of the Board of Directors of TrioResources AG Inc.
Employee Stock Option Plan. (a) Shares Reserved. 52,631,579 Ordinary Shares (the “ESOP Reserved Shares”) shall be reserved for allocation to employees, officers, directors, consultants or other service providers of the Company or any of its subsidiaries (collectively, the “Employees”) pursuant to bona fide service or employment-related share purchase or option plans and allocations approved by the Board and holders of at least an eighty percent (80%) majority of the voting power of the then outstanding Series A Shares (each such plan, an “ESOP”).
Employee Stock Option Plan. The Company intends to shortly establish an employee stock option plan. The Company does not currently have a Stock Option Plan in place. Notwithstanding, you will be eligible, at the discretion of the Company’s board of directors or any designated committee thereof, to participate in such plan at which time it is implemented. Any allocation of stock options is at the sole discretion of the Board of Directors or such committee.
Employee Stock Option Plan. The Employee shall be entitled to participate in any employee stock option plan (ESOP) established by the Company from time to time for the general benefit of employees of the Company at a level that is commensurate with his/her position, provided that the Employee is and remains eligible for such participation in accordance with the terms and conditions of the ESOP. We have agreed that you will be entitled to an initial option on 350,000 common shares of the Company, or its parent xxxxXXX.xxx Corporation, to be issued at such time as the Company's shares become publicly traded, at a strike price equal to the opening price on the first day of trading.
Employee Stock Option Plan. The Company shall establish an employee stock option plan (the “ESOP”) for up to ten percent (10%) of the issued Shares at any given time (calculated on a fully-diluted basis) and shall initially reserve for issuance pursuant to the exercise of options granted under the ESOP two million fifty nine thousand five hundred and fifty eight (2,059,558) Shares, which options may be issued to the Company’s employees, directors and officers on such terms and conditions as the BOD may determine. The option price for Shares shall be determined by the BOD in accordance with the terms of the ESOP.
