Grant of Option, Option Price and Term. (a) The Company hereby grants to the Participant, as a matter of separate agreement and not in lieu of salary or any other compensation for services, the right and option (the “Option”) to purchase 33,150 shares of the Common Stock of the Company (“Option Shares”) on the terms and conditions herein set forth. Participant shall have all the rights and obligations as provided for in this Agreement.
(b) For each of the Option Shares purchased, the Participant shall pay to the Company $ per share (the “Option Price”). Accordingly, the aggregate Option Price to exercise all of the Option is $ (“Aggregate Option Price”).
(c) The term of this Option shall commence on the Grant Date and end on , 2017 (the “Option Period”). The termination of the Option Period shall result in the termination and cancellation of the Option. In no event shall the Option be exercisable for any period greater than the Option Period. During the Option Period, the Option shall be exercisable in accordance with the determination of the Committee, but in no event later than the date the Option becomes exercisable pursuant to Section 2(d) or 2(e) below.
(d) The percentage of Options which are exercisable and which will not be forfeited upon a Termination of Employment (unless such termination is for Cause) shall be determined in accordance with the following schedule: , 2008 25 % , 2009 50 % , 2010 75 % , 2011 100 %
(e) Notwithstanding the foregoing Section 2(d), all Options shall be 100% exercisable in the event of a Change in Control or a Termination of Employment due to (i) death, (ii) Disability (as defined in the Employment Agreement), (iii) a termination by the Participant for Good Reason (as defined in the Employment Agreement), (iv) a termination by the Company without Cause (as defined in the Employment Agreement) or (v) a termination by the Company by providing the Executive written notice of the Company’s intent not to extend the term of the Employment Agreement as described in Section 3.1 thereof.
(f) Any portion of the Option which is not exercisable, pursuant to Section 2(d) or 2(e), as of a Participant’s Termination of Employment is canceled simultaneously with the date of such Termination of Employment.
(g) The Option granted hereunder is designated as a Non-Qualified Stock Option.
(h) The Company shall not be required to issue any fractional Option Shares.
Grant of Option, Option Price and Term. (a) The Company hereby grants to the Recipient a Nonqualified Stock Option (the “Option”) to purchase 700,000 shares (the “Option Shares”) of the common stock of the Company, par value $.01 per share (the “Company Stock”) during the Option Period (as defined below) at a price of $12.11 per share (the “Option Price”), subject to the terms and conditions herein.
(b) The term of this Option shall be for a period of ten (10) years from the Grant Date (the “Option Period”). During the Option Period, the Option shall be vested as of the date set forth below for the cumulative percentage of the Option set forth opposite such date, and shall be exercisable upon such dates and in such amounts: First anniversary of Grant Date 12 1/2% Second anniversary of Grant Date 25 % Third anniversary of Grant Date 37 1/2% Fourth anniversary of Grant Date 50 % Fifth anniversary of Grant Date 62 1/2% Sixth anniversary of Grant Date 75 % Seventh anniversary of Grant Date 87 1/2% Eighth anniversary of Grant Date 100 % Notwithstanding the foregoing, in the event that the employment of the Recipient with the Company or its subsidiaries (or the Recipient’s service to the Company or its subsidiaries) shall terminate for any reason other than (i) cause (as defined below), (ii) death, or (iii) disability or retirement, each Option granted to the Recipient, to the extent that it is exercisable at the time of such termination, shall remain exercisable for the 90 day period following such termination (or for such other period as may be provided by the Compensation Committee (the “Committee”) of the Board), but in no event following the expiration of its term. Each Option that remains unvested and unexercisable as of the date of such a termination shall be terminated at the time of such termination (except as may be otherwise determined by the Committee). In the event that the employment of the Recipient with the Company or its subsidiaries (or the Recipient’s service to the Company or its subsidiaries) shall terminate on account of the death of the Recipient, each Option granted to the Recipient that is outstanding as of the date of death shall become fully exercisable and shall remain exercisable, by the Recipient’s legal representatives, heirs or legatees for the one year period following such termination (or for such other period as may be provided by the Committee), but in no event following the expiration of its term. In the event of the termination of the Recipient’s employment for ca...
Grant of Option, Option Price and Term. (a) The Company hereby grants to the Participant a Non-Qualified Stock Option (the "OPTION") to purchase ((SHARES_GRANTED)) shares (the "OPTION SHARES") of the Company's Class A common stock, par value $.001 per share ("STOCK"), during the Option Period (as hereinafter defined) at a price of ((PRICE)) per share (the "OPTION PRICE"), subject to the provisions of the Plan and the terms and conditions herein.
(b) The term of this Option shall be for a period of ten (10) years from the Grant Date (the "OPTION PERIOD"). During the Option Period, the Option shall be vested as of the date set forth below for the cumulative percentage of the Option set forth opposite such date:
(LAPSE_DATE_1)) 33-1 3% ((LAPSE_DATE_2_)) 66-2/3% ((LAPSE_DATE_3)) 100%
(c) The Option granted hereunder is designated as a Non-Qualified Stock Option.
(d) The Company shall not be required to issue any fractional shares of Stock.
Grant of Option, Option Price and Term. (a) The Company hereby grants to the Participant a Non-Qualified Stock Option (the "Option") to purchase (Shares Granted) shares (the "Option Shares") of the Company's class A common stock, par value $.001 per share ("Stock"), during the Option Period (as hereinafter defined) at a price of (Price) per share (the "Option Price"), subject to the provisions of the Plan and the terms and conditions herein.
(b) The term of this Option shall be for a period of ten (10) years from the Grant Date (the "Option Period"). During the Option Period, the Option shall be vested as of the date set forth below for the cumulative percentage of the Option set forth opposite such date: Date Cumulative Percentage Vested ---- ----------------------------- (Lapse Date 1) 25% (Lapse Date 2) 50% (Lapse Date 3) 75% (Lapse Date 4) 100% Notwithstanding the foregoing, in the event the Participant incurs a termination of employment for any reason whatsoever as an employee of, and/or ceases to be an officer of or consultant to, the Company or an Affiliate, the provisions of Section 4 of the Plan relating to termination of employment shall apply.
(c) The Option granted hereunder is designated as a Non-Qualified Stock Option.
(d) The Company shall not be required to issue any fractional shares of Stock.
Grant of Option, Option Price and Term. (a) The Committee hereby grants to the Participant on [ ] (the “Grant Date”), as a matter of separate agreement and not in lieu of salary or any other compensation for services, the right and option (the “Option”) to purchase the number of shares of the Common Stock of the Company designated on the Notice (“Option Shares”) on the terms and conditions herein set forth.
(b) For each of the Option Shares purchased, the Participant shall pay to the Company [ ($ )] per share, which, as of the date of this Agreement, is not less than the Fair Market Value of a share of Common Stock (the “Option Price”). Accordingly, the aggregate Option Price to exercise all of the Option is as specified on the Notice (“Aggregate Option Price”).
(c) The term of the Option shall be a period of ten (10) years from the Grant Date (the “Option Period”). During the Option Period, the Option shall be exercisable in accordance with the schedule set forth on the Notice.
(d) The Option granted hereunder is designated as a nonqualified stock option.
(e) The Company shall not be required to issue any fractional Option Shares.
Grant of Option, Option Price and Term. (a) The Company hereby grants to the Participant, as a matter of separate agreement and not in lieu of salary or any other compensation for services, the right and option (the “Option”) to purchase the number of shares designated on the attached Notice of Grant of Stock Options of the Common Stock of the Company (“Option Shares”) on the terms and conditions herein set forth.
(b) For each of the Option Shares purchased, the Participant shall pay to the Company dollars ($ ) per share (the “Option Price”). Accordingly, the aggregate Option Price to exercise all of the Option is as specified on the attached Notice of Grant of Stock Options (“Aggregate Option Price”).
(c) The term of the Option shall be a period of ten (10) years from the Grant Date (the “Option Period”). During the Option Period, the Option shall be exercisable in accordance with the schedule on the attached Notice of Grant of Stock Options.
(d) The Option granted hereunder is designated as a nonqualified stock option.
(e) The Company shall not be required to issue any fractional Option Shares.
Grant of Option, Option Price and Term. (a) The Company grants to the Participant [a Non-Qualified Stock Option / an Incentive Stock Option] to purchase _______________ shares of Stock at a price of $_______ per share subject to the provisions of the Plan and the terms and conditions herein.
(b) The term of this Option shall be a period of [10/5] years from the Grant Date (the "Option Period"). During the Option Period, the Option shall be exercisable as of each of the dates set forth below, according to the percentage set forth opposite such date: Date Cumulative Percentage Exercisable ---- ---------------------------------- Notwithstanding the foregoing, in the event the Participant incurs a termination of employment for any reason whatsoever as an employee of the Company or an Affiliate, the provisions of Section 4 of the Plan relating to termination of employment shall apply.
(c) The Option granted hereunder is designated as [a nonqualified stock option / an incentive stock option].
(d) The Company shall not be required to issue any fractional shares of Stock.
Grant of Option, Option Price and Term. (a) The Company hereby grants to the Participant [a Nonqualified Stock Option / an Incentive Stock Option] (the “Option”) to purchase shares (the “Option Shares”) of Company Stock during the Option Period (as defined below) at a price of $ per share (the “Option Price”), subject to the provisions of the Plan and the terms and conditions herein.
(b) The term of this Option shall be for a period of [ ] from the Grant Date (the “Option Period”). During the Option Period, the Option shall be vested as of the date set forth below for the cumulative percentage of the Option set forth opposite such date, and shall be exercisable upon such dates and in such amounts:
Grant of Option, Option Price and Term. (a) The Company hereby grants to Participant, as a matter of separate agreement and not in lieu of salary or any other compensation for services, Options to purchase ______________ (___________) Shares of the Company on the terms and conditions set forth in this Agreement.
(b) For each Share purchased, Participant will pay to the Company an Option Price of $_________ per Share. Accordingly, the aggregate Option Price to exercise all of the Options is $_______.
(c) Except as provided in Section 2(d), until the Participant incurs a Termination of Employment, (i) one-eighth (1/8) of the Options will become Vested Options on the date six months after the Grant Date and (ii) an additional one-forty-eighth (1/48th) of the Options will become Vested Options on the last day of each month thereafter. From the date of a Termination of Employment of the Participant for any reason, no further Options shall become Vested Options.
(d) Notwithstanding Section 2(c), all of the Options shall become Vested Options immediately upon a Change in Control if the Participant is employed by the Company at the time of such Change in Control.
(e) Subject to Section 3, Vested Options shall be exercisable at any time during the Option Period beginning on the vesting date of such Options and ending on the ten-year anniversary of the Grant Date. Options that are not Vested Options may not be exercised in any circumstances.
(f) The Options granted hereunder are designated as Nonqualified Stock Options.
Grant of Option, Option Price and Term. (a) The Company hereby grants to the Participant, as a matter of separate agreement and not in lieu of any other compensation for services, the right and option (the "Option") to purchase the number of shares of the Common Stock of the Company ("Option Shares") set forth on the execution page hereof on the terms and conditions herein set forth.
(b) For each of the Option Shares purchased, the Participant shall pay to the Company the price per share set forth on the execution page hereof (the "Option Price") for the aggregate Option Price to exercise all of the Option as set forth on the execution page hereof.
(c) The term of this Option shall be a period of ten (10) years (the "Option Period") from the date set forth on the execution page hereof ("Grant Date"). During the Option Period, the Option shall be exercisable on and after the earlier of the day immediately preceding the date of the first anniversary of the Grant Date if the Participant is a Director on such date or the date of an Extraordinary Termination of Directorship, whichever occurs first. If the Participant is not a Director on the day immediately preceding the date of the first anniversary of the Grant Date and has not incurred an Extraordinary Termination of Directorship, the Option is forfeited.
(d) The Option granted hereunder is designated as an option the taxation of which is pursuant to Section 83 of the Code. 3
(e) The Company shall not be required to issue any fractional Option Shares.
