Executive Option Pool Clause Samples

Executive Option Pool. After the date hereof, but prior to the Effective Time, the Company shall take all necessary actions to grant Company Stock Options from the Executive Option Pool to the key executives listed on Section 3.07(c)(i) of the Company Disclosure Schedule for the number of shares of Company Common Stock listed opposite each such executive's name on such disclosure schedule. All Company Stock Options granted in respect of the Executive Option Pool shall (A) be granted under and, except as provided herein, be subject to the terms and conditions of, the Company 1999 Equity Incentive Plan (the "1999 Plan"), (B) have an exercise price equal to the Fair Market Value (as defined in the 1999 Plan) of the shares of Company Common Stock on the date of grant, (C) vest in two equal installments on the second and third anniversaries of the Effective Time, provided such executive is employed with the Company or its successor on each such anniversary and (D) not be subject to any acceleration of vesting upon the consummation of the transactions contemplated hereunder.