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 ...
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
Grant of Incentive Stock Options. The Company hereby grants to the Optionee as of the Grant Date the right and option (the "Non-Qualified Option" and, together with the ISO Option, the “Option”) to purchase 655,000 Shares, in whole or in part (the "Non-Qualified 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.
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.
Grant of Incentive Stock Options. The Board may, from time to time, grant Incentive Stock Options to eligible employees. Incentive Stock Options granted pursuant to the Plan shall be subject to the following terms and conditions:
Grant of Incentive Stock Options. Subject to required approval of the Compensation Committee of the Board of Directors of Alliance Bankshares Corporation , within sixty (60) days of the commencement of Employee’s active employment under this Employment Agreement,Executive shall receive a grant of 10,000 incentive stock options (“ISO”) (or, if the applicable ISO limits are reached, nonqualified stock options) pursuant to the terms of the Alliance Bankshares Corporation 2007 Incentive Stock Plan (“Stock Plan”). The specified terms of such stock option grant shall be established in accordance with the terms of the Stock Plan and shall be set forth in a separate stock option agreement.
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:
Grant of Incentive Stock Options. The Committee may, from time to time, grant Incentive Stock Options to Employees. Incentive Stock Options granted pursuant to the Plan shall be subject to the following terms and conditions:
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.
Grant of Incentive Stock Options. The Company hereby grants to the Executive the right to purchase Five Hundred Thousand (500,000) of the Company's Common Stock $.001 par value, at a price of Four Dollars and 18/00 ($4.18) per share. These Incentive Stock Options are granted as of July 16, 1998 and are subject to the terms and conditions hereinafter set forth and as referred to in the Executive Employment Agreement.
