Future Stock Options. Nothing contained in this Agreement is intended to or shall be construed to impose any obligation on Company to grant stock options to Employee other than stock options granted by the Board of Directors prior to execution of this Agreement.
Future Stock Options. At the time the Company makes its option grant to other senior executives, the Executive shall be granted an option to purchase 25,000 shares of Company Stock in 1999 and in 2000. Each such option shall be granted subject to the terms of the Company's stock option plan for a ten (10) year term and shall be subject to the anti-dilution adjustments set forth in such plan, provided, however, that (A) each such option shall fully vest no late than the earlier of (1) the end of the Employment Period or (2) the occurrence of an event which fully vests all options granted under the Company's 1995 stock option plan, (B) each such option shall fully vest upon Executive's death, Disability, termination of employment by the Company without Cause and termination of Executive's employment by the Executive for Good Reason, and (C) each such option shall remain exercisable until the expiration of such term unless Executive's employment is terminated by the Company for Cause or by the Executive without Good Reason; provided, however, that in the event of a merger transaction involving the Company, the foregoing shall not be construed as precluding the option from being treated in such transaction in the same manner as other outstanding options held by Company employees. However, no options shall be granted to the Executive under this clause (iv) if his employment by the Company terminates before the date the option is granted; provided, however, that any such options not theretofore granted shall be deemed to have been granted immediately prior to the date as of which the Executive's employment is terminated by the Company without Cause or by the Executive for Good Reason.
Future Stock Options. If and to the extent that the Company grants its executive officers stock options or other stock-related incentives, the Board shall in good faith consider whether the Executive should be permitted to participate in such incentives. Provided, however, that the Executive shall in no event be entitled to additional stock-related incentives in respect of (i) the purchase of 486,923 shares of common stock by Mr. Brooks pursuant to his restricted stock arrangement with the Comxxxx xx (ii) grants of options under the 1998 Stock Option Plan (or successor plans) if the common stock underlying such options does not exceed 300,000 shares in the aggregate.
Future Stock Options. In the event that the Bank undergoes -------------------- conversion from a mutual savings bank to corporate or other form, the parties agree to discuss a stock option compensation plan for the Employee.
Future Stock Options. Provided that, within the first sixty (60) days following the Closing, no material customer identified in Schedule 3.15 terminates its contractual relationship with the Company and that all contracts with such material customers are in full force and effect without default or cancellation as of the sixth (60th) day following the Closing, on the sixty first (61st) day following the Closing, Buyer shall issue the following additional Stock Options to Sellers pursuant to the Notice of Grant of Stock Option attached as Exhibit 2.2.2:
(1) Xxxxx Xxxxxx shall receive 110,973 Stock Options;
(2) Xxxxx Xxxxxxx shall receive 69,488 Stock Options;
(3) Xxx Xxxxxxxx shall receive 8,297 Stock Options;
(4) Xxxxx Xxxxx shall receive 6,223 Stock Options;
(5) Xxxx Xxxxxxx shall receive 6,223 Stock Options; and
(6) Xxxx Xxxxx shall receive 6,223 Stock Options In the event of termination, cancellation or default of any contract with one or more material customer identified in Schedule 3.15 within the first sixty (60) days following the Closing (“Terminating Customer(s)”), the Stock Options received by Sellers (inclusive of Stock Options received under this Section 2.2.3 and Section 2.2.2 above) shall be reduced and/or forfeited to the extent necessary (pro rata based upon their ownership interest in the Company immediately preceding the Closing) by a percentage equal to the revenue received by the Company from the Terminating Customer(s) in the one hundred and eighty (180) days immediately preceding such termination divided by the revenue received by the Company from all material customers identified in Schedule 3.15 in the one hundred and eighty (180) days immediately preceding such termination.
Future Stock Options. The Compensation Committee may, after the one-year anniversary of the Effective Date, award you stock options (“New Options”). These New Options will be granted at the discretion of the Compensation Committee under the 2002 Equity Incentive Plan or under such other then existing shareholder approved equity compensation plan. The Compensation Committee will determine the vesting schedule of the New Options on their date of grant; provided, however, that such options will vest as to 100% in the event of your death or total disability and as to 12 months if you are terminated within one year following a Corporate Transaction, as each “total disability” and Corporate Transaction are defined in the 2002 Equity Incentive Plan. You will have at least one year following the date your employment terminates for reasons other than for Cause in which to exercise any New Options to the extent such options are vested at your termination.
Future Stock Options. During the course of your employment you will be eligible to receive stock options pursuant to the Company’s Stock Option Plan (or any successor plan) in such amounts and pursuant to vesting schedules as may be determined from time to time by the Board in its discretion, taking into account, among other factors, your performance and the Company’s performance.
Future Stock Options. Future stock options may be granted from time to time, although there is no specific procedure or timetable for such reviews. In the future, Employee will be eligible for consideration of stock options by the Compensation Committee of the Board of Directors of Employer when options are considered for any group of senior management which includes Employee. However, the Compensation Committee will have no obligation for such consideration for Employee within two years of Employee's date of hire. Notwithstanding the above, Employer agrees to grant to Employee Non-Qualified Options to purchase at least 50,000 shares of Common Stock under the Plan at a cumulative grant rate of 10,000 shares per year on the third through seventh anniversaries of the date of the Agreement (subject to Employee continuing to be employed by Employer); with such options being issued at the market price of the Common Stock on the date of grant and subject to an equal five-year vesting schedule commencing one-year after the date of grant.
Future Stock Options. Future stock options will be considered by the Board of Directors in connection with the Strategic Planning Session and in accordance with the Board of Directors' annual review of the Employee's performance and compensation.
Future Stock Options. During the term of this Agreement, Employee shall be eligible to receive grants of stock options under any stock option plan which Employer establishes to issue stock options to key employees. The number and terms of any such stock option grants shall be comparable to those provided to comparable executive personnel of Employer, as determined by the Board (or the Compensation Committee thereof) in its sole and absolute discretion.
