Grant of New Options. Subject to availability under the Assumed Company Option Plans, within five (5) days following the Closing Date, Parent shall grant new options to employees of the Company who continue as employees of the Surviving Corporation or Parent after the Effective Time (the "Continuing Employees") to purchase up to 1,000,000 shares of the Parent Common Stock at an exercise price equal to the closing price of the Parent Common Stock on the date of grant pursuant to an Assumed Company Option Plan. In the event that the Company for any reason does not grant new Company Options, as recently contemplated, to purchase an aggregate of 689,000 shares of Company Common Stock to the Continuing Employees prior to the Closing Date, within five (5) days following the Closing Date, Parent shall, based on the particular allocation of options to purchase Company Common Stock in such aforementioned contemplated grant by the Company, grant new options to the Continuing Employees to purchase a comparable number of shares the Parent Common Stock, after giving effect to the Exchange Ratio (consistent with the applicable conversion provision of assumed Company Options of Section 2.6 hereof), from the Assumed Company Option Plans assumed by Parent at an exercise price equal to the closing price of the Parent Common Stock on the date of grant. The Company shall grant all or none of such new Company Options prior to the Closing Date. In no event shall Parent be obligated to grant any such options to Continuing Employees from any of Parent's stock option plans in effect on or after the Closing other than the Assumed Company Option Plans.
Grant of New Options. Subject to availability under the assumed company option plan and as detailed in Schedule 5.9, within forty five (45) days following the Closing Date, Parent shall grant new options to Continuing Employees to purchase up to 1,000,000 shares of the Parent Common Stock at an exercise price equal to the closing price of the Parent Common Stock on the date of grant pursuant to the terms and conditions of the assumed company option plan; provided, however, that to the extent that the assumed company options plan does not have sufficient options available for issuance to Continuing Employees in accordance with Schedule 5.9 (the "Option Shortfall"), Parent shall grant new options to Continuing Employees under Parent's stock option plans up to the amount of the Option Shortfall. In no event shall Parent be obligated to grant any such options to Continuing Employees from any of Parent's stock option plans in effect on or after the Closing other than the assumed company option plans.
Grant of New Options. Subject to the terms and conditions set forth in Section 5.2 below, Company hereby grants to Employee the following options to acquire additional shares of Common Stock: (a) An option to acquire 145,000 shares of Common Stock, which option is immediately vested in Employee; 19 (b) An option to acquire 105,000 shares of Common Stock, which option shall vest and become exercisable with respect to one-third of the total shares of Common Stock subject to the option after each anniversary date of May 14, 1995, so that the option shall be exercisable in full after the third anniversary date of May 14, 1995 (i.e. May 14, 1998); and
Grant of New Options. Subject to the terms and conditions set forth herein and in the Company’s 2000 Stock Incentive Plan, as amended (the “Plan”), the Company hereby grants to the Optionee, during the period commencing on the date of this Agreement (the “Grant Date”) and ending seven years from the date hereof (the “Termination Date”), the right and option (the right to purchase any one share of Stock hereunder being an “Option”) to purchase from the Company, at a price of $[ ] per share (the “Exercise Price”), an aggregate of [ ] shares of Stock (the “Options”).
Grant of New Options. Subject to the terms and conditions set forth in Section 5.2 below, Company granted to Employee on August 22, 1996, an option to acquire 40,000 shares of Company's Common Stock which option shall vest and become exercisable according to the following schedule: Date of Vesting Number of Shares Vested June 30, 1997 10,000 June 30, 1998 10,000 June 30, 1999 10,000 September 30, 1999 10,000 Notwithstanding the foregoing, the option for 10,000 shares that is scheduled to vest on September 30, 1999 shall only vest and become exercisable if Company meets at least 95% of its EBITDA goal for the years ending September 30, 1997, September 30, 1998 and September 30, 1999 combined, which EBITDA goal is set forth in the Company's Disclosure Statement dated Xxxxx 00, 0000 (xx being understood that the EBITDA goal is set forth in the Projected Consolidated Statements of Operations included in the Disclosure Statement).
Grant of New Options. Subject to the terms and conditions set forth herein and in the Company’s 2000 Stock Incentive Plan, as amended (the “Plan”), the Company hereby grants to the Optionee, during the period commencing on the date of this Agreement (the “Grant Date”) and ending seven years from the date hereof (the “Termination Date”), the right and option (the right to purchase any one share of Stock hereunder being an “Option”) to purchase from the Company, at a price of $[ ] per share (the “Exercise Price” which Exercise Price is intended by the Company to qualify for the Italian fair market value exemption), an aggregate of [ ] shares of Stock (the “Options”).
Grant of New Options. You likely will not be subject to tax when the new options are granted to you.
Grant of New Options. If you choose to include the value of the new option in your assessable income in the year in which the new option is granted (as there may be capital gains tax advantages in making such an election), you will likely be required to recognize income equal to the market value of the new option, less the market value of the existing option as of the date of cancellation of the existing option. If you do not make this election, then you must include an amount (as described below) in your assessable income for the year in which the earliest of the following assessment times occurs:
Grant of New Options. You will not be subject to tax when the new option is granted to you. EXERCISE OF NEW OPTIONS. When you exercise the new option, the amount by which the fair market value of the shares you purchase exceeds the option exercise price you pay for those shares will be taxable as regular salary. You must inform RSA Security AB when you exercise the new options. SALE OF SHARES. When you subsequently sell the shares acquired upon the exercise of your new option, you will recognize a capital gain (or loss) equal to the difference between the sale price and the sum of the option exercise price paid for the shares plus the amount of regular salary you recognized for income tax purposes upon exercise of the new option. Capital gains are taxed at a flat rate (30% for the year 2001). If the sale results in a capital loss, 100% of the loss is deductible against certain types of capital gains during the same year, and if no capital gains exist, 70% of the loss is deductible against other income from capital. If you have a net deficit in the capital income category for that year, 30% of the deficit up to SEK 100,000 is allowed as a reduction of your tax on earned income, and for deficits exceeding SEK 100,000, 21% of the deficit is allowed as a reduction of your tax on earned income. SWITZERLAND: MATERIAL FEDERAL INCOME TAX CONSEQUENCES FOR EMPLOYEES WHO ARE TAX RESIDENTS IN SWITZERLAND EXCHANGE OF OPTIONS. We believe that you should not be subject to tax as a result of the exchange of your existing options for new options pursuant to the Offer to Exchange, however, the tax laws regarding this matter are uncertain. If your existing options were taxed at grant, then any tax paid on those existing options that are surrendered in the exchange would, in principle, not be refunded. Hence, since there will possibly be tax due on the grant of the new options (except as described below), you will potentially be subject to double taxation. Alternatively, if your existing options were not taxed at grant, then the exchange of these options for the new options should not trigger any immediate tax consequences.
