GRANT OF ADDITIONAL OPTION Sample Clauses

GRANT OF ADDITIONAL OPTION. If, during the period beginning upon the Effective Date and ending upon the earlier of the closing of an initial public offering ("IPO") of the Company's Stock, and five years from the Effective Date (the "Initial Period"), the Company issues additional shares of its equity securities or Stock Rights in any transaction (including without limitation, the IPO and any option to acquire Stock granted to employees of the Company) that does not result in an adjustment to the Option pursuant to the provisions of Section 4 (a "Dilutive Event"), and, as of the date of such Dilutive Event the number of shares of Stock covered by this Option shall be less than 0.5% of the outstanding equity securities of Company on a fully diluted basis immediately following such occurrence, then the following will apply: a. The Company shall grant to the Option Holder an option (each such grant, a "Subsequent Option Grant") to acquire additional shares of Stock such that the number of shares of Stock as to which the Option (including all Subsequent Option Grants and all previously exercised Options) will be exercisable represents, after giving effect to the applicable occurrence, .5% of the outstanding shares of each class of Company's equity securities on a fully diluted basis. On the date of the Dilutive Event, the Company and the Option Holder shall enter into an Option Grant Agreement in the form of Exhibit A hereto evidencing the Subsequent Option Grant. The Company's failure to execute and deliver an Option Grant Agreement shall not affect the Option Holder's right to exercise an Option, including, but not limited to, Options granted pursuant to a Subsequent Option Grant.
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GRANT OF ADDITIONAL OPTION. Lessor hereby grants to Lessee the option to extend the term of the Lease for a three-year term in addition to all other options previously granted by the First Amendment or Second Amendment, commencing on the day following expiration of the last extension period granted under the Second Amendment.
Sample 1
GRANT OF ADDITIONAL OPTION. Subject to the terms and conditions set forth in this Agreement, the Company hereby grants to the Employee the right to purchase up to fifty thousand (50,000) shares of the Company's common stock (the "Stock") at a price of $1.50 per share, subject to the adjustments as provided in Section 4 hereof (the "Additional Option"). It is understood and agreed that the option price is the per share fair market value of such shares on the date of each of the option grants covered by this Agreement. The Company intends that the Additional Option shall be an Incentive Stock Option governed by the provisions of Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"). The terms of the Company's Incentive Stock Option Plan and the Additional Option shall be interpreted and administered so as to satisfy the requirements of the Code.
Sample 1
GRANT OF ADDITIONAL OPTION. The Company hereby grants to Purchaser a conditional option to acquire, in the sole discretion of Purchaser, up to 158,000 shares of Common Stock from the Company at a per share exercise price equal to $16.42 per share (such price, the "Additional Option Exercise Price"), but only at the rate of 10,000 shares for each $10,000,000 increment by which the Additional Option Qualifying Premiums for the Additional Option Determination Period exceed $200,000,000. The exercise of the Additional Option shall be subject to the filing of appropriate documents with, and to the extent necessary, approval of, the Commissioner of Insurance of the State of Washington and such notices and consents as may be required under the insurance laws of any jurisdiction in which any of the Company or its subsidiaries is domiciled or does business. The Additional Option may only be exercised once by delivery of written notice to the Company, signed by Purchaser, indicating that the Additional Option is being exercised and specifying the number of shares of Common Stock it will acquire. Such notice may not be given until final determination of Additional Option Qualifying Premiums pursuant to Section 1.3(a). Unless earlier exercised, the Additional Option expires on December 31, 2006. The closing of the exercise of the Additional Option pursuant to this Section 1.3(b) shall occur within ten (10) business days following delivery of the written exercise notice, the Additional Option Exercise Price shall be paid in immediately available funds at the closing, and the acquired shares of Common Stock shall be delivered to Purchaser at the closing free and clear of any and all liens, claims and encumbrances (other than any such liens, claims and encumbrances created by Purchaser).
Sample 1
GRANT OF ADDITIONAL OPTION. The Parties confirm that Tenant currently has no remaining options to renew or extend the Lease. Provided Tenant is not in default of any provisions of the Lease, as amended, and Tenant has not been in default of the Lease, as amended, more than three (3) times during the Fourth Extension Period, Landlord grants to Tenant the right to extend the Lease, as hereby extended, for one (1) additional period of three (3) years, commencing on August 1, 2016 and ending on July 31, 2019, under the same terms and conditions as the Fourth Extension Period, except that Annual Rent shall be and void. $141,920.75 per annum, equaling $11,826.73 monthly, based on $13.25 per square foot per annum. If Tenant elects to exercise this option, Tenant shall notify Landlord in writing on or prior to February 1, 2016. Tenant's failure to provide the written notice as required herein by such date shall render such option null
Sample 1

Related to GRANT OF ADDITIONAL OPTION

  • Grant of Stock Option The Company hereby grants the Optionee an Option to purchase shares of Common Stock, subject to the following terms and conditions and subject to the provisions of the Plan. The Plan is hereby incorporated herein by reference as though set forth herein in its entirety. The Option is not intended to be and shall not be qualified as an “incentive stock option” under Section 422 of the Code.

  • Additional Options The NYS Contract Price for Additional Options offered under the Contract in accordance with Section III.2.7 Additional Options, shall be the Additional Options NYS Discount listed on the Contract Pricelist, or higher, applied to the MSRP on the current OEM Data Book or Contractor-Published Pricelist, as applicable. See Section III.1.2

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • NOTICE OF STOCK OPTION GRANT Name: Address:

  • Grant of the Option The Company hereby grants to the Participant the right and option (the “Option”) to purchase, on the terms and conditions hereinafter set forth, all or any part of an aggregate of Shares, subject to adjustment as set forth in the Plan. The purchase price of the Shares subject to the Option shall be $ (the “Option Price”). The Option is intended to be a non-qualified stock option, and is not intended to be treated as an option that complies with Section 422 of the Internal Revenue Code of 1986, as amended.

  • Manner of Exercising Option (a) In order to exercise this option with respect to all or any part of the Option Shares for which this option is at the time exercisable, Optionee (or any other person or persons exercising the option) must take the following actions: (i) To the extent the option is exercised for vested Option Shares, execute and deliver to the Corporation a Notice of Exercise for the Option Shares for which the option is exercised. To the extent this option is exercised for unvested Option Shares, execute and deliver to the Corporation a Purchase Agreement for those unvested Option Shares. (ii) Pay the aggregate Exercise Price for the purchased shares in one or more of the following forms: (A) cash or check made payable to the Corporation, (B) shares of Common Stock held by Optionee (or any other person or persons exercising the option) for the requisite period necessary to avoid a charge to the Corporation's earnings for financial reporting purposes and valued at Fair Market Value on the Exercise Date, or (C) to the extent the option is exercised for vested Option Shares, through a special sale and remittance procedure pursuant to which Optionee (or any other person or persons exercising the option) shall concurrently provide irrevocable instructions (I) to a Corporation-designated brokerage firm to effect the immediate sale of the purchased shares and remit to the Corporation, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate Exercise Price payable for the purchased shares plus all applicable Federal, state and local income and employment taxes required to be withheld by the Corporation by reason of such exercise and (II) to the Corporation to deliver the certificates for the purchased shares directly to such brokerage firm in order to complete the sale. (iii) Furnish to the Corporation appropriate documentation that the person or persons exercising the option (if other than Optionee) have the right to exercise this option. (b) Except to the extent the sale and remittance procedure is utilized in connection with the option exercise, payment of the Exercise Price must accompany the Notice of Exercise (or the Purchase Agreement) delivered to the Corporation in connection with the option exercise. (c) As soon after the Exercise Date as practical, the Corporation shall issue to or on behalf of Optionee (or any other person or persons exercising this option) a certificate for the purchased Option Shares, with the appropriate legends affixed thereto. To the extent any such Option Shares are unvested, the certificates for those Option Shares shall be endorsed with an appropriate legend evidencing the Corporation's repurchase rights and may be held in escrow with the Corporation until such shares vest. (d) In no event may this option be exercised for any fractional shares.

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

  • Stock Option Grants Pursuant to the following terms and conditions, the Executive shall be eligible to participate in Holdings’ stock option plan and Holdings agrees as follows: i. Holdings shall establish a stock option plan (“Stock Option Plan”) providing for grants of options (the “Stock Options”) to purchase the common stock of BD Investment Holdings Inc., par value $0.01 (the “Buyer Common Stock”) in amounts not less than (i) 2% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2008 and January 1, 2009 and (ii) 2.5% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive, selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2010 and January 1, 2011. ii. Beginning in January 2008, each annual Stock Option grant shall be made between the first and fifteenth business day of the year, unless the CEO, in his sole discretion, shall agree with the Board to a later date during such year (the “Default Date”). If the Board does not approve Stock Option grants in the amounts set forth in Section 4(c)(i) by the Default Date, then Stock Options in such amounts shall be granted pro-rata to existing option holders and employee stockholders as of such date of grant, except that the CEO’s share of such Stock Option grants shall be reduced by 75% and the other four most highly compensated executives’ share of such Stock Option grants shall be reduced by 50%. iii. The per share exercise price of each Stock Option shall be equal to the Fair Market Value of a share of Buyer Common Stock on the date of grant. Each Stock Option granted shall vest in five equal tranches on each of the first five anniversaries of the date of grant subject to the option holder’s continued employment as of each such vesting date; provided, however, that all Stock Options shall automatically vest in full upon a “change in control” (as defined in the Option Plan, it being understood that an IPO shall in no event constitute a change in control). Notwithstanding any provision of this Agreement to the contrary, following an IPO, no additional Stock Options shall be granted pursuant to the Stock Option Plan. iv. Upon termination of his employment, the portion of any Stock Option granted to the Executive which has not yet vested shall terminate. In the event the Executive’s employment terminates for any reason other than for Cause, the Executive may exercise any vested portion of any Stock Option held by him on the date of termination provided that he does so prior to the earlier of (A) ninety (90) days following termination of employment and (B) the expiration of the scheduled term of the Stock Option. Notwithstanding the foregoing, if the Executive’s employment is terminated due to death or disability (as defined in Section 5(b)), then the Executive or, as applicable in the event of death, his beneficiary or estate, may exercise any vested portion of any Stock Option held by the Executive on the date employment terminates for the shorter of (A) the period of twelve (12) months following the termination date and, (B) with respect to each Stock Option individually, the expiration of the scheduled term of such Stock Option. Upon a termination of the Executive’s employment by the Company for Cause, all Stock Options shall be forfeited immediately. v. Holdings, the Company and the Executive agree to cooperate to structure the Stock Option Plan so as to minimize or avoid additional taxes and interest that would otherwise be imposed on the Executive with respect to options granted under the Stock Option Plan pursuant to Section 409A of the Internal Revenue Code as amended (the “Code”); provided, however, that the Company shall have no obligation to grant the Executive a “gross-up” or other “make-whole” compensation for such purpose.

  • Grant of Options Pursuant to, and subject to, the terms and conditions set forth herein and in the Plan, the Company hereby grants to the Participant a NON-QUALIFIED STOCK OPTION (the “Option”) with respect to ___________ shares of Common Stock of the Company.

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