Executive Stock Option Sample Clauses
Executive Stock Option. Pursuant to the terms of the Option Agreement by and between the Executive and the Company, dated as of July 22, 2002, (the "Option Agreement") the Executive was granted a stock option (the "Option") for the purchase of up to 75,000 shares of the Company's common stock, at an exercise price of $4.00 per share. The Executive acknowledges and agrees that: (i) except as provided in subparagraph (ii), the Option may only be exercised on or before October 27, 2004 as to all or part of the 37,500 option shares that vested prior to the Separation Date and the Option, to the extent unexercised, shall expire on October 27, 2004; (ii) if the Executive dies on or before October 27, 2004, the Option may be exercised at any time within six months after the Executive's death as to all or part of the 37,500 option shares that vested prior to the Separation Date and the Option, to the extent unexercised, shall expire six months after the Executive's death; and (iii) the option shares that were scheduled to vest on July 22nd of 2005 and 2006 have been forfeited.
Executive Stock Option. As soon as practicable after August 6, 2015, the Company shall grant the Executive an option to purchase 500,000 shares of the Company’s common stock at an exercise price per share equal to the fair market value per share of the Company’s common stock on the date of grant. The option shall be granted pursuant to the Company’s 2013 Incentive Plan, and evidenced by the Company’s standard form of grant agreement.
Executive Stock Option. On August 20, 2015, the Company shall grant the Executive an option to purchase 1,200,000 shares of the Company’s common stock at an exercise price per share equal to the fair market value per share of the Company’s common stock on the date of grant. The option shall be granted pursuant to the Company’s 2013 Incentive Plan, and evidenced by the Company’s standard form of grant agreement. In addition, the Executive shall be eligible for an annual equity award during the Company’s next annual grant cycle in February 2016 at a level commensurate with the Executive’s position as Chief Executive Officer of the Company, provided that the aggregate grant date fair value of such award shall be no less than three times Executive’s Base Salary on the date of this Agreement.
Executive Stock Option. The Board of Directors of RFI will grant ▇▇▇▇▇▇ ▇▇▇▇▇ a stock option of 100,000 shares. The options are exercisable at $1.50 per share. The options will vest at 20% (20,000) shares per year for five (5) years to accomplish full 100% vesting. The options will expire upon termination.