Common use of Future Options Clause in Contracts

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.

Appears in 4 contracts

Samples: Employment Agreement (Molina Healthcare Inc), Employment Agreement (Molina Healthcare Inc), Employment Agreement (Molina Healthcare Inc)

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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 the stock option plan of the Company as then in effect (as of the date of any grant, an "Effective Option Plan")Company. 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.

Appears in 1 contract

Samples: Employment Agreement (Molina Healthcare Inc)

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