Executive Options. PARENT shall have amended its executive ------------------ stock option plan or adopted a new stock option plan authorizing the issuance of up to an additional 7,000,000 shares of its common stock, and such action shall have been approved by request consent of PARENT's stockholders. The shares of PARENT Common Stock issuable upon exercise of the Executive Options will be registered under all applicable provisions of the Securities Act of 1933 pursuant to a duly filed and effective Form S-8 of PARENT promptly after the Closing.
Executive Options. The executives identified on Schedule 5.1.14 shall have executed and delivered an Executive Securities Agreement in form and substance satisfactory to Parent providing for, among other things, such executive to contribute to Parent options held by such executives for the purchase of GSE Common Stock in such amounts set forth opposite such executive's name on Schedule 5.1.14 (the "Rollover Options") in exchange for the issuance by Parent of an option for the purchase of its capital stock, and the transactions contemplated by each such agreement shall be consummated on the Effective Date.
Executive Options. The Executive shall be granted options to acquire one hundred forty-two thousand two hundred seventy-eight (142,278) shares of the Company's common stock at the closing market price (the "Strike Price") at the end of the day on the date immediately preceding the Commencement Date. These options will vest at the rate of twenty-five percent (25%) of the total number of shares subject to options (or thirty-five thousand five-hundred sixty-nine (35,569) shares) beginning one year after the Commencement Date and thereafter an additional twenty-five percent (25%) of such number of shares will vest on each of the second, third and fourth year anniversaries of the Commencement Date. The options will be exercisable for a period of six (6) years from the Commencement Date, subject to the terms of the Company's Employee Stock Option Plan (the "Plan"). Additional options may be granted in succeeding years, in the sole discretion of the Board. In the event that Executive is terminated without cause during the Employment Period and prior to the first twenty-five percent (25%) of the total options referenced herein vesting, upon such termination and at the sole discretion of the Board, either: (i) thirty-five thousand five-hundred sixty-nine (35,569) shares (aggregating twenty-five percent (25%) of the options referenced herein) will vest immediately, or (ii) the Company will compensate Executive for such unvested thirty-five thousand five-hundred sixty-nine (35,569) shares with the difference between the Strike Price and the closing market price of the Company's common stock as of the day of Executive's termination, adjusted by an amount necessary to compensate Executive for the fact that such payment will be taxed as ordinary income by the Internal Revenue Service and not as capital gains. The Company's Employee Stock Option Plan currently has restrictions on the quantity of options, which may be issued to any one participant per fiscal year. The Company hereby agrees to resolve this limitation through a new proposal or amendment at the November, 2000 Board meeting to permit the grant of options for the number of shares called for herein. In the event that this has not occurred by December 31, 2000, the Company shall award Executive the maximum number of options allowable under the Plan for fiscal year 2000, and the maximum number of options allowable under the plan for each Year thereafter until Executive has been awarded 220,000 options. In the event Executive is ter...
Executive Options. On the occurrence of a Conversion Event, the Executive Management Group shall be entitled to receive at the Closing options to acquire an aggregate number of shares of New Common Stock, equivalent to four percent (4%) of the outstanding New Common Stock on the Closing Date (the "Executive Options"). When issued, such New Common Stock shall dilute all shares of New Common Stock issued and outstanding at the time of issuance on a pro rata basis. The Executive Options shall have a nominal exercise price, and shall be allocated among the Executive Management Group in a manner and in an amount as determined by Mr. Xxxxxxxx xxxor to the occurrence of a Conversion Event. The number of shares subject to the Executive Options shall be adjusted in the event of stock splits, stock dividends and mergers and similar events.
Executive Options. On the Commencement Date of Executive’s employment with the Company, the Company shall grant to Executive options to purchase one million two hundred thousand (1,200,000) shares of the Company’s common stock (the “Options”).
Executive Options. (a) The Company, the Investors and the Executives hereby agree that promptly after the date hereof, the Executive Options shall be amended to conform to the provisions of this paragraph 10A.
Executive Options. The individuals who shall be eligible to receive grants of Executive Options shall be the Executive Officers of the Company. No individual shall be eligible to receive an Option under the Plan while that individual is a member of the Committee.
Executive Options. The Company shall have entered into an Unvested Stock Option Agreement with each of Xxxx Xxxxxx, Xxxxxx X. Xxxxxxxxx, and Xxxxxx X. Xxxxxxx in form and substance set forth in Exhibit B1, Exhibit B2 and Exhibit B3 attached hereto, respectively. The Company shall have adopted the Carrols Holdings Corporation 1996 Long-Term Incentive Plan (the "1996 Plan") in form and substance set forth in Exhibit B4 attached hereto. The Company shall have entered into stock option agreements with each of Xxxx Xxxxxx and Xxxxxx X. Xxxxxxxxx pursuant to the 1996 Plan in form and substance set forth on Exhibit B5 and Exhibit B6 attached hereto, respectively. Each of the option agreements referred to in this paragraph 2C shall collectively be referred to herein as the "Executive Option Agreements."
Executive Options. Howtek shall have granted the Executive Options to ISSI executives in accordance with the provisions of Section 5.14.
Executive Options. As of the Grant Date, VGE shall grant to each of the following individual employees the option to purchase that number of shares of VGE common stock as described below and associated with such individuals (the “Options”). The Options shall vest over a period of 24 months beginning on the Effective Date, with 1/24 of the option shares vesting on the first day of each subsequent month that Executive is employed with VGE and be subject to such other terms and conditions as the parties shall agree, provided, however, that all such Options shall terminate and be of no further force and effect upon and coincident with the termination of this Agreement or any failure of Closing to occur by May 28th, 2010. Each such Option shall have a strike or exercise price as determined in accordance with Code Section 409A as of the Grant Date. Subject to the foregoing, the Grant Date shall be March 25th, 2010, unless a later date is required by Code Section 409A, in which case the Grant Date shall be such later date. Name Title Number of Shares Xxxx Xxxxxxxx CEO 550,000 Sung Xxxxx Xxxxx President 550,000 Xxxxxxx Xxxx CFO, Treasurer and Secretary 250,000 EXHIBIT “A” FORM OF GUARANTY AGREEMENT 4 Subject to amendment to conform to any special filing requirements under the laws of the BVI or PRC EXHIBIT “A” SUBSIDIARY GUARANTEE THIS GUARANTEE (the “Guarantee”), dated as of the day of , 2010, is made by VIASPACE Green Energy, Inc., a British Virgin Islands international business company (“VGE”), Inter-Pacific Arts Corp., a British Virgin Islands international business company (“IPA BVI”), and Guangzhou Inter-Pacific Arts Corp., a Chinese wholly owned foreign enterprise registered in Guangdong province (“IPA China” and together with VGE and IPA BVI, the “Subsidiary Guarantors,” and, each, a “Subsidiary Guarantor”), in favor of Sung Xxxxx Xxxxx (“Noteholder”). Capitalized terms used herein but not otherwise defined herein shall have the meanings ascribed to such terms in the Secured Note.
