Grant of Incentive Stock Options Sample Clauses

Grant of Incentive Stock Options. At the time of the grant of any Option, the Committee may in its discretion designate that such Option shall be made subject to additional restrictions to permit it to qualify as an Incentive Stock Option. Any Option designated as an Incentive Stock Option: (a) shall be granted only to an employee of the Company or a Subsidiary Corporation; (b) shall have an Exercise Price of not less than 100% of the Fair Market Value of a Share on the Grant Date, and, if granted to a person who owns capital stock (including stock treated as owned under Section 424(d) of the Code) possessing more than 10% of the total combined voting power of all classes of capital stock of the Company or any Subsidiary Corporation (a “More Than 10% Owner”), have an Exercise Price not less than 110% of the Fair Market Value of a Share on its Grant Date; (c) shall be for a period of not more than 10 years (five years if the Grantee is a More Than 10% Owner) from its Grant Date, and shall be subject to earlier termination as provided herein or in the applicable Award Agreement; (d) shall not have an aggregate Fair Market Value (as of the Grant Date) of the Shares with respect to which Incentive Stock Options (whether granted under the Plan or any other stock option plan of the Grantee’s employer or any parent or Subsidiary Corporation (“Other Plans”)) are exercisable for the first time by such Grantee during any calendar year (“Current Grant”), determined in accordance with the provisions of Section 422 of the Code, which exceeds $100,000 (the “$100,000 Limit”); (e) shall, if the aggregate Fair Market Value of the Shares (determined on the Grant Date) with respect to the Current Grant and all Incentive Stock Options previously granted under the Plan and any Other Plans which are exercisable for the first time during a calendar year (“Prior Grants”) would exceed the $100,000 Limit, be, as to the portion in excess of the $100,000 Limit, exercisable as a separate option that is not an Incentive Stock Option at such date or dates as are provided in the Current Grant; (f) shall require the Grantee to notify the Committee of any disposition of any Shares delivered pursuant to the exercise of the Incentive Stock Option under the circumstances described in Section 421(b) of the Code (relating to holding periods and certain disqualifying dispositions) (“Disqualifying Disposition”) within 10 days of such a Disqualifying Disposition; (g) shall by its terms not be assignable or transferable other than ...
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Grant of Incentive Stock Options. The Company hereby irrevocably grants to the Optionee not in lieu of salary or other compensation for services, the right and option to purchase all or any part of [NUMBER OF SHARES] shares of authorized but unissued or treasury common stock of the Company (the “Incentive Options”) on the terms and conditions herein set forth. This Agreement replaces any stock option agreement or offer letter previously provided to the Optionee, if any, with respect to these Incentive Options. The Optionee acknowledges receipt of a copy of the Plan, as amended. The exercise of the Incentive Options is subject to the Company effecting a reverse split or
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Grant of Incentive Stock Options. (a) The Bank, pursuant to the 2001 Plan, hereby grants to Grantee, as of December 31 of each year, beginning December 31, 2003, assuming Grantee is the __________ of the Bank on such date and assuming options are available for issuance under the 2001 Plan on such date, Options (which are intended to be Incentive Stock Options) to purchase ____ shares of Common Stock. The Option Price per share shall be equal to the Fair Market Value on the Grant Date. (b) The Bank may grant such additional Options to Grantee as the Bank (acting through its Board of Directors or a committee thereof may deem to be appropriate from time to time). (c) The Options granted to Grantee, and the Option Price, shall be sent forth on Exhibit C, and a copy of Exhibit C, as updated, shall be sent to Grantee no less than annually.
Sample 1
Grant of Incentive Stock Options. The Company hereby grants to the Optionee as of the Commencement Date under the Employment Agreement (the “Grant Date”) the right and option (the "ISO Option") to purchase 320,000 Shares, in whole or in part (the "ISO Option Stock"), at an exercise price of One and 25/100 ($1.25) Dollars per Share, on the terms and conditions set forth in this Agreement and subject to all provisions of the Plan. If, for any reason whatsoever, the Commencement Date under the Employment Agreement shall not occur, then the grant hereunder shall become null and void, and this Agreement shall be null and void, and of no further force and effect. It is intended that the ISO Option shall be an incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986, as amended from time to time (the “Code”)
Sample 1
Grant of Incentive Stock Options. At the time of the grant of any Option, the Committee may in its discretion designate that such Option shall be made subject to additional restrictions to permit it to qualify as an Incentive Stock Option. Any Option designated as an Incentive Stock Option: (a) shall be granted only to an employee of the Company or a Subsidiary; (b) shall, if granted to Ten Percent Owner, have an Option Price not less than :10% of the Fair Market Value of a Share on its Grant Date; (c) shall have an Option Term of not more than ten (10) years (five years if the Grantee is a TXX Percent Owner) From its Grant Date, and shall be subject to earlier termination as provided herein or in the applicable Award Agreement;
Sample 1
Grant of Incentive Stock Options. (a) The Company irrevocably grants to the Employee, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option (the "Options") to purchase all or any part of an aggregate of ____________ shares of authorized but unissued or treasury common stock of the Company (the "Shares") on the terms and conditions herein set forth. The Shares shall be unregistered unless the Company voluntarily files a registration statement covering such Shares with the Securities and Exchange Commission. (b) The Options are intended to be Incentive Stock Options within the meaning of the Plan and Section 422 of the Internal Revenue Code of 1986 (the "Code"). (c) This Agreement shall be construed in accordance and consistent with, and subject to, the provisions of the Plan (the provisions of which are incorporated herein by reference); provided, however, in the event of any conflict between the terms of this Agreement and the Plan, the terms of this Agreement shall govern.
Sample 1
Grant of Incentive Stock Options. (a) The company grants to Optionee, as additional compensation for his services, an option (the “Option”) to purchase up to an aggregate of [_____] shares of the company’s common stock (“Common Stock”), which shall be subject to vesting based upon the achievement of milestones set forth in Section 2 below. The option is intended to be an Incentive Stock Option as defined by the Internal Revenue Code of 1986, as amended. (b) The Optionee acknowledges his understanding that the continuation of his employment with the Company and the devotion of substantial time and effort to the business of the Company is a material consideration in the determination by the Board of Directors to grant the Optionee the Option. In consideration of the grant of the Option by the Company, the Optionee agrees to render faithful and efficient services to the Company. Nothing in this Agreement shall confer upon the Optionee any right to continue in the employ or service of the Company or shall interfere with or restrict in any way the rights of the Company, which rights are hereby expressly reserved, to discharge or terminate the services of the Optionee at any time for any reason whatsoever, except to the extent expressly provided otherwise in a written agreement between the Company and the Optionee.
Sample 1
Grant of Incentive Stock Options. The Board may, from time to time, grant Incentive Stock Options to members of the Board of Directors who are also employees of the Bank. Incentive Stock Options granted pursuant to the Plan shall be subject to the following terms and conditions:
Sample 1
Grant of Incentive Stock Options. (a) In consideration of the services to be provided by the Executive set forth herein and subject to the approval of the Board, the Company shall issue to the Executive stock incentive options (the “Options”) to purchase five hundred thousand (500,000) shares of the Company’s common stock (the “Shares”, and together with the Options, “Securities”) pursuant to the Company’s 2019 Stock Option Plan every year during the Employment Term so long as the Executive provides satisfactory services to the Company, as reasonably determined by the Company in its sole discretion, and meets all of the conditions set forth in the Strategic Development Agreement dated the Effective Date (the “Strategic Development Agreement”). Subject to the terms and conditions in the Option Agreement, the Options shall vest in four equal installments each quarter commencing from the Effective Date and shall become exercisable one (1) year after the date of the grant of such Option. The Company and Executive agree that issuance of the Options is an inducement material to entering into this Agreement.
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