GRANT, TERMS AND CONDITIONS OF OPTIONS Sample Clauses

GRANT, TERMS AND CONDITIONS OF OPTIONS. (a) Effective January 29, 1996, subject to approval of the Plan by the stockholders of the Company, each Eligible Director has been granted an option hereunder to purchase 20,400 Shares. The options granted to such Eligible Directors shall be subject to vesting in three equal annual installments on the first three anniversary dates of the date of grant; provided, that only whole shares may be issued pursuant to the exercise of any option. (b) Upon first election or appointment to the Board, each newly elected Eligible Director will be granted an option to purchase 20,400 Shares. Any such options granted to newly elected Eligible Directors shall be subject to vesting in three equal annual installments on the first three anniversary dates of the election of such Eligible Director to the Board; provided, that only whole shares may be issued pursuant to the exercise of any option. (c) Immediately following each Annual Stockholders Meeting, commencing with the meeting following the close of fiscal year 1996, each Eligible Director, other than an Eligible Director first elected to the Board within the 12 months immediately preceding and including such meeting, will be granted an option to purchase 5,100 Shares as of the date of such meeting. (d) The options granted will be nonstatutory stock options not intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), and shall have the following terms and conditions:
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GRANT, TERMS AND CONDITIONS OF OPTIONS. Options may be granted at any time and from time to time prior to the termination of the Plan. The day on which the Committee approves the granting of an option shall for all purposes of this Plan be considered the date on which such option is granted. Except as hereinafter provided, Options granted pursuant to the Plan shall be subject to the following terms and conditions:
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GRANT, TERMS AND CONDITIONS OF OPTIONS. Options may be granted at any time prior to the termination of the Plan to officers and other key, full-time salaried employees of the Bank who, in the judgment of the Board of Directors or the Committee, contribute to the successful conduct of the operation of the Bank through their judgment, interest, ability and special efforts and to nonemployee directors; provided, however, that: (i) an eligible officer or employee shall not participate in the granting of his or her own option; (ii) the aggregate fair market value of the stock (determined as of the date the option is granted) for which any one employee may be granted incentive stock options in any calendar year (under all stock option plans of the Bank) shall not exceed $100,000 plus any unused limit carryover to such year as provided in Section 422A of the Code; (iii) except in the case of termination by death or disability, as set forth in Section 5(c) below, the granted option must be exercised by the optionee no later than three (3) months after any termination of employment with the Bank and said employment must have been continuous since the granting of the option; and (iv) the total number of shares subject to options granted to any one optionee, at any one time, shall not exceed ten percent (10%) of the then issued and outstanding shares of Common Stock of the Bank. In addition, options granted pursuant to the Plan shall be subject to the following terms and conditions:
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GRANT, TERMS AND CONDITIONS OF OPTIONS. Options granted pursuant to the Plan shall be evidenced by agreements in such form as the Committee shall recommend and the Board shall from time to time approve, which agreements shall be executed by the optionee and by an officer of the Bank designated by the Board or its Committee. Options may be granted at any time prior to the termination of the Plan to directors, officers and other employees of the Bank who, in the judgment of the Committee, contribute to the successful conduct of the operation of the Bank through their judgment, interest, ability and special efforts; provided, however, that: (i) the aggregate initial fair market value of the stock (determined as of the date the option is granted) that may be acquired by any one officer or employee pursuant to all incentive stock options granted under the Plan after 1986 that are exercisable for the first time during any one calendar year (taking into account all incentive stock options under any stock option plans of the Bank, any of its Affiliates and any predecessor of any such corporation) shall not exceed $100,000; (ii) except in the case of termination by death or disability, as set forth in Section 5(e) below, the granted option must be exercised by the optionee no later than three (3) months after any termination of office or employment with the Bank and said office or employment must have been continuous since the granting of the option. In addition, options granted pursuant to the Plan shall be subject to the following terms and conditions:
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GRANT, TERMS AND CONDITIONS OF OPTIONS 
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Related to GRANT, TERMS AND CONDITIONS OF OPTIONS

  • Terms and Conditions of Options The Options evidenced hereby are subject to the following terms and conditions:

  • Additional Terms and Conditions of Award NONTRANSFERABILITY OF SHARES. Prior to the date on which Shares subject to this Award vest pursuant to Section 3 hereof, such Shares may not be sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by operation of law or otherwise) or be subject to execution, attachment or similar process. Any such attempted sale, transfer, assignment, pledge, hypothecation or encumbrance, or other disposition of such Shares shall be null and void.

  • Terms and Conditions of Award The grant of Restricted Stock Units provided in Section 1(a) shall be subject to the following terms, conditions and restrictions:

  • SETTLEMENT TERMS AND CONDITIONS Contour is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives its right to a hearing under Banking Law Sections 44 and 598. Therefore, in consideration of the promises and covenants set forth herein, the Settling Parties agree, as follows: 1. Contour shall not: a. Under any name or designation conduct or transact business in this state at any physical location that has not been approved by the Superintendent; b. Under any name or designation conduct or transact business in this state through the use of any website or domain name that has not been approved by the Superintendent; c. Conduct or transact business under any name or designation other than that shown on its license or branch certificate; d. Assign mortgage loan originators to locations that are not licensed by the Superintendent; e. Engage in net branching or offer net branching opportunities in violation of the Department’s prohibition against net branching; f. Transfer or assign its mortgage banker license; g. Engage in conduct prohibited by Part 38 of the General Regulations. 2. Contour agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters relating to its mortgage business, including but not limited to: a. Complying with the requirements of Banking Law Articles 12-D and 12- E, Part 420 of the Superintendent’s Regulations, and Part 38 of the General Regulations; b. Assigning mortgage loan originators only to locations licensed by the Superintendent, and displaying the license for each mortgage loan originator working at such location; c. Providing the proper oversight and supervision of each individual who becomes employed by, or affiliated as an independent contractor of or consultant for, Contour; and d. Maintaining books and records in a manner that will enable the Superintendent to determine whether Contour is complying with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters. 3. Contour agrees to develop a comprehensive operations manual governing its day-to-day operations, which shall, at a minimum, address the: a. Establishment of new business locations; b. Use of business names and designations; c. Activities and supervision of employees, independent contractors, and consultants; and d. Maintenance of books and records. 4. Contour agrees to develop a written compliance manual designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters. The manual shall, at a minimum, address: a. The designation of an individual responsible for monitoring compliance with all applicable laws, regulations, supervisory requirements, and guidance letters; b. Prohibited conduct as described by Section 38.7 of the General Regulations; c. The duties of an originating entity as described by Part 420 of the Superintendent’s Regulations; d. Reporting requirements as described by Part 420 of the Superintendent’s Regulations; e. Use of business names and designations, domain names, and websites; f. The duties and responsibilities of employees, independent contractors, and consultants; and g. A compliance training program for employees and independent contractors. 5. Within ninety (90) days from the effective date of this Agreement, Xxxxxxx agrees to submit drafts of its operations and compliance manuals to the Department. 6. Within one hundred twenty (120) days from the effective date of this Agreement, Xxxxxxx agrees to submit copies of its final operations and compliance manuals to the Department together with a letter from an authorized officer of Contour indicating his or her approval of said manuals. 7. Contour agrees that its mortgage banking activities will be subject to examinations semi-annually for a twenty-four-month period following the execution of this Agreement. 8. Contour agrees to pay a fine of $20,000. Contour further agrees that such payment will be made in immediately available funds in accordance with Department payment instructions.

  • Payment Terms and Conditions 67.6.1 CLEC shall pay a Transit Service Charge as set forth in Table 1 for any Transit Traffic routed to CenturyLink by CLEC. 67.6.2 CLEC shall be responsible for payment of Transit Service charges on Transit Traffic routed to CenturyLink by CLEC and for any charges assessed by the terminating carrier. CLEC agrees to enter into traffic exchange agreements with third-parties prior to routing any Transit Traffic to CenturyLink for delivery to such third parties, and CLEC will indemnify, defend and hold harmless the Transit Service provider against any and all charges levied by such third-party terminating carrier with respect to Transit Traffic, including but not limited to, termination charges related to such traffic and attorneys’ fees and expenses.

  • TERMS AND CONDITIONS OF SERVICE 3.1. Based on the received Letter of Application with a manuscript of a scientific and/or other text from the author (the Customer), the Contractor accepts the texts intended for publication in a printed mass media for editing on a paid basis. 3.2. The author (the Customer) who applies to the editorial office for the purpose of editing its scientific and/or other texts shall be obliged as follows: • Transfer its manuscript to the editorial board by sending the same to the official email address of the editorial board. • Based on the confirmation of a positive review and the invoice sent by the editorial board for payment for editing, prepress, electronic layout, publication on the journal's website, and archiving scientific and/or other texts, pay the cost of services within three (3) calendar days from the date of receipt of the invoice for payment for services. • At the request of the editorial board, provide information and perform any actions necessary and sufficient from the standpoint of the editorial board to perform the order. 3.3. The editorial board undertakes to render the services within 3 (three) months from the date of acceptance of the terms and conditions hereof and the Customer's payment for services hereunder. In exceptional cases, the term of performance of the terms and conditions hereof may be agreed with the author (the Customer) individually. 3.4. Services shall be considered rendered, and the terms and conditions hereof shall be considered performed at the time of the editor-in-chief's approval of the layout-original issue wherein the scientific and/or other text of the Customer is subject to publication.

  • Terms and Conditions of Use NASCAR shall have the right to use and sublicense PROMOTER’s Marks in connection with publicity, promotion or advertising of the Event and the NASCAR Sprint Cup Series, and the exploitation of Live Broadcast Rights and Ancillary Rights, provided, however, that NASCAR shall not, without the prior written consent of PROMOTER, use or sublicense the use of PROMOTER’s Marks on the branding of any retail package product, unless otherwise expressly permitted in this Agreement.

  • Other Terms and Conditions of Employment Where an assessment has been made, the applicable percentage shall apply to the wage rate only. Employees covered by the provisions of the clause will be entitled to the same terms and conditions of employment as all other employees covered by this Agreement paid on a pro-rata basis.

  • General Terms and Conditions During the term of this Contract, Contractor agrees to procure and maintain insurance which meets all County’s requirements in the General Terms and Conditions.

  • Other Terms and Conditions You also agree to be bound by any other specific terms and conditions governing such recurring/instalment payment scheme. In the event of conflict, such specific terms and conditions are to prevail over the provisions of this clause but only to the extent necessary to give full effect to those terms and conditions.

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