Future Options. Executive shall be eligible, at the sole discretion of the Board, for additional annual stock option grants (the "Future Options") pursuant to one or more additional option agreements. Any Future Options will be granted under and subject to the terms and conditions of a stock option plan of the Company as then in effect (as of the date of any grant, an "Effective Option Plan"). The terms and conditions of such Future Options are intended to be such that Executive shall receive a compensation package commensurate with executives performing the same functions as Executives for businesses similar to the Company.
Future Options. The parties acknowledge and agree that future stock options or equity incentive awards, if any, that may be granted by the Company to Optionee shall have such terms and conditions as shall be determined by the Board of Directors or Compensation Committee and may not, for example, have the automatic acceleration of vesting provisions or extended exercise periods as are provided for in this Agreement.
Future Options. Any other equity award made to Executive following the Effective Date in addition to the Option which is subject to vesting or forfeiture (each such equity award, a "Future Option") shall also vest immediately with respect to 100% of any then unvcsted or unreleased shares upon a Termination Other Than For Cause.
Future Options. 4.1 The Company agrees that in the event any additional stock options are granted to the Executive pursuant to the Plans after the date hereof (the "Future Options"), any and all such Future Options shall vest in full upon the consummation of a Corporate Transaction. Any Future Options that remain unexercised or unvested on the Expiration Date will immediately revert to the typical vesting schedules under the Plans on the Expiration Date, provided that the original term of such Future Options extended beyond the Expiration Date. This provision shall not be deemed to extend the term of any Future Options.
4.2 If the Executive's employment with the Company is terminated (i) by the Company without Cause, (ii) as a result of the Executive's death or permanent disability or (iii) by the Executive for Good Reason, in the case of (i), (ii) or (iii) prior to the Expiration Date and prior to the consummation of a Corporate Transaction, any Future Options that have not vested shall not lapse immediately upon such termination but shall vest in full upon the consummation of a Corporate Transaction if such a Corporate Transaction is consummated prior to the Expiration Date. Upon vesting, such Future Options shall remain exercisable for a period of 180 days following the latest of (a) the date of termination of employment, (b) the date the Executive is no longer subject to any management lock-up that prohibits his ability to exercise options or purchase or sell the Company's Common Stock and (c) the consummation of a Corporate Transaction; provided that in no event shall any of the Future Options be exercisable after the expiration of their original terms. If the Executive's employment with the Company is terminated by the Company for Cause, any and all unexercised Future Options and any and all unvested Future Options shall lapse immediately upon such termination. If the Executive's employment with the Company is terminated by the Executive without Good Reason, the Executive shall have 90 days from such termination in which to exercise those Future Options which were vested on the date of such termination, and all Future Options which had not vested prior to the date of termination shall lapse immediately.
Future Options. All future option grants by the Company will not be subject to the terms of your Retention Agreement (and the cancellation provision in Section 17(i)). The option agreements reflecting future option grants will provide as follows: On your Termination Date, all unvested shares subject to the options will immediately vest, and you will be allowed to exercise the options until the earlier of (a) five years from your Termination Date, or (b) the expiration of the remaining term of the options (assuming you had not been terminated). If your termination of employment occurs because of a Good Reason resignation, you will be provided this extended exercise period only if it would not make the option subject to Section 409A, as determined by the Company’s counsel. If the Company’s counsel concludes that the extended exercise period would subject the options to Section 409A, you will have the normal 90 days to exercise the options, and the Company will pay you an additional payment equal to $0.50 per option share multiplied by x, where x is the number of years or partial year remaining in the maximum term of the option as of your Termination Date, assuming you had not terminated, minus 5. Payment of this amount will be delayed and paid within 15 days following the seven-month anniversary of your Termination Date, unless Company’s counsel determines that this payment delay is not required to comply with Section 409A. In no event will this payment be made earlier than January 1, 2007.
Future Options. Subject to the terms and conditions stated in this Agreement, the Stock Options shall vest, and Awardee shall have the right to exercise the Stock Options, in varied increments. A forty percent (40%) increment (60,000 shares) shall vest and become exercisable on June 1, 2000 ("First Increment"); thereafter, twenty percent (20%) increments (30,000 shares) shall vest and become exercisable on June 1, 2001, June 1, 2002, and June 1, 2003. If Awardee ceases to be an employee of the Company for any reason prior to the date any or all of the annual installments have vested, the Stock Options shall be forfeited and expire with respect to the unvested portion. Exercise rights shall be cumulative, meaning that any vested but unexercised Stock Options from prior years may be exercised without reducing the rate at which Stock Options vest and become exercisable.
Future Options. Discontinue Use of System: If at the end of the contract period, the County decides to no longer pursue the DHD system, Consultant will release data contained in DHD along with information on relationships in the data to a third party format (i.e.: Access, Excel, CSV, etc.) with no further obligation to County. Data will be released within thirty (30) business days after the date of contract termination or date of payment of any outstanding invoice, whichever is later.
Future Options. The purchase price for shares subject to options which may be granted hereunder with respect to Meetings shall be equal to the last trade price per share of Common Stock on the date of the Meeting, or, if no trade occurs on such date, then the purchase price shall be the mean between the bid and asked price on such date. If the date of any Meeting is not a business day, then the purchase price shall be established as described in the preceding sentence based upon the trading activity of Common Stock for the business day next preceding the date of such Meeting.
Future Options. Subject to the terms of this Addendum, Heritage Global shall issue to certain NLEX employees (including Executives) stock options to purchase an aggregate 600,000 shares of Heritage Global common stock, by issuing options to acquire 200,000 of such shares on each of the first three anniversaries of the Effective Date. Such options shall be issued under the 2010 Plan, and/or the 2016 Plan, and in the case of options issued to Executives, outside either such plan, as determined by the Board. Not later than sixty (60) days prior to each of the first three (3) anniversaries of the Effective Date and in accordance with Section 2, Executives shall recommend to the Board the NLEX employees (including Executives) to be entitled to a stock option under this Section 4(c), and the number of shares of Heritage Global common stock to be subject to each such option.
Future Options. The Company will request that its Board of Directors grant Employee options to purchase another Twenty Five Thousand (25,000) shares of common stock, at the then Fair Market Price, at such time as the Board of Directors shall vote to increase the number of shares allocated to employee stock option plans by at least 300,000 shares. Company management will use its best efforts to see to it that the vesting schedule for these options is substantially the same as for the options above.
