Granting of Options. From time to time until the expiration or earlier suspension or discontinuance of the Plan pursuant to Section 13, the Committee may, on behalf of Company, grant to Eligible Employees under the Plan such Options as it determines are warranted, subject to the limitations of the Plan. The granting of an Option under the Plan shall not be deemed either to entitle the Participant to, or to disqualify the Participant from, any participation in any other grant of Options under the Plan.
Granting of Options. The Authorizing Parties agree that on the signing date of the Agreement, they irrevocably grant Party A or its designated third party the options to buy all of Authoring Party 1’s stocks in Party C and/or all assets under Authoring Party 2 in stages or on a one-off basis in the ways specified under Article 2.
Granting of Options. The Committee may from time to time at its discretion, subject to the provisions of the Plan, determine those eligible individuals to whom Options will be granted, the number of Shares subject to such Options, the dates on which such Options are to be granted and the expiration of such Options. The Committee may, at its discretion, with respect to any Option, impose additional terms and conditions which are more restrictive on the optionee than those provided for in the Plan. Each Option will be evidenced by a written agreement between, and executed by, Summo and the individual containing such terms and conditions established by the Committee with respect to such Option and will be consistent with the provisions of the Plan. Options shall be granted to directors only according to the following formula:
(i) Each director who was a member of the Board of Directors prior to January 1, 1996, shall upon adoption of this Plan be issued Options for that number of Shares necessary to bring the aggregate number of Shares underlying incentive options issued to such director to 150,000 Shares. The exercise price of such Options shall be determined as provided in Section 6 hereof.
(ii) Each director who becomes a member of the Board of Directors after January 1, 1996, shall be granted Options for 50,000 Shares upon his or her election or appointment to the Board. The exercise price shall be determined as provided in Section 6 hereof.
(iii) Upon the expiration date of any Options issued to a director (regardless of whether such Options were exercised on or prior to the expiration date), such director shall be issued Options for an additional 50,000 Shares. The exercise price shall be determined as provided in Section 6 hereof. The provisions of this paragraph (iii) shall also apply upon the expiration date of any other incentive stock options issued to a director if at the time of such expiration date, the director holds incentive options, including Options, for fewer than an aggregate of 50,000 Shares underlying such options, in which case the director shall be issued that number of Options necessary to bring the aggregate number of Shares underlying incentive options issued to such director at such time to 50,000 Shares. The calculation of incentive options held by any director shall not include any warrants to purchase Summo shares held by a director provided such warrants were issued by Summo in connection with securities offered by Summo.
(iv) The foregoing formul...
Granting of Options. The Board may from time to time in the manner herein provided grant options ("Options") to purchase common shares ("Shares") of the Corporation to directors, officers, employees or area managers or arm's length consultants of the Corporation and may provide for the number of Shares to be optioned to each such director, officer, employee, area manager or arm's length consultant.. Options shall be exercised on or prior to a date determined by the Board of Directors at the date of the grant, which shall be no later than ten years from the date of the grant and shall be subject to the terms, conditions, limitations and prohibitions as are herein contained or as may be in effect at the date of the grant.
Granting of Options. Options shall be granted within 10 years from the effective date of the Plan. Each option shall be evidenced by a written Stock Option Agreement executed by the Company and the employee to whom such option is granted. An option shall be deemed to have been granted only when the Stock Option Agreement has been duly executed by the Company and the employee to whom such option is granted has been notified of the granting of the option.
Granting of Options. 2.1 The Company may grant Options to Employees upon the approval of the Board of Directors. No Option shall be granted to an Employee unless the Employee and the Company or Affiliated Company, as the case may be, have entered into an employment agreement that specifies the terms and conditions of the Employee's performance of services for the Company or Affiliated Company and is in full force and effect on the date the Option is granted to the Employee.
2.2 The total number of Shares with respect to which Options may be granted pursuant to this Plan shall be 3,783,991 of three Guilder cents (NLG 0
Granting of Options. The Committee may grant options to such persons eligible under the Plan as the Committee may select from time to time. Such options shall be granted at such times, in such amounts and upon such other terms and conditions as the Committee shall determine, which shall be evidenced under an Award Agreement and subject to the following terms and conditions:
Granting of Options. Biomune shall not grant to any of its officers, employees or consultants options to purchase Common Stock or any security convertible into Common Stock or change the pricing or other terms of any outstanding options without Buyer's prior written consent.
Granting of Options. The Holding Company may grant up to 967,700 Stock Options. If the Stock Options are granted, the Holding Company shall grant the Stock Options at an exercise price equal to at least the per share fair market value of the Common Stock (as determined by the Holding Company's Board of Directors) at the time of such grant.
Granting of Options. 6.1 Subject to the terms of the Plan, the Committee may from time to time grant Options to persons eligible under Section 4 above; provided that if Options are granted to a Non-Employee Director either for more than 16,200 Shares or with a grant date other than either the Distribution Date (in the case of Non-Employee Directors who are first appointed or elected on the date this Plan is first approved by the Board) or on the later of the Distribution Date and the date a Non-Employee Director first assumes office as a Director (in the case of any Non-Employee Director who first assumes office as a Director after the date this Plan is first approved by the Board), such grant shall be subject to approval by the Company's stockholders.
6.2 Each person who is a Non-Employee Director as of the Distribution Date shall, as of the Distribution Date, receive a grant of Options respecting 16,200 Shares, and each Non-Employee Director who first becomes a Director after the Distribution Date shall, upon first becoming a Director, receive a grant of Options respecting 8,125 Shares, in all cases without further action by the Committee, the Board or otherwise.
6.3 Pursuant to Code Section 422 and applicable regulations, an Option shall not be deemed to be an ISO to the extent that the aggregate Fair Market Value, as determined on the date or dates of grant, of Shares with respect to which such ISOs are exercisable for the first time by any individual during any calendar year (under all stock option incentive plans of the Company or a Subsidiary) exceeds $100,000. ISOs which first become exercisable during a calendar year shall be taken into account in the order granted. Options that exceed the $100,000 limit shall be treated as NQSOs.
6.4 The purchase price of each Share subject to an Option (other than Options granted to Non-Employee Directors pursuant to Section 6.2 hereof) shall be fixed by the Committee, provided the purchase price for all Options shall not be less than 100% of the Fair Market Value of the Shares on the date the Option is granted. The purchase price of each Share subject to an Option granted to a Non-Employee Director pursuant to Section 6.2 hereof shall be 100% of the Fair Market Value of the Shares on the effective grant date of such Option.
6.5 Notwithstanding Section 6.4 above, pursuant to Code Section 422 and applicable regulations, the minimum purchase price of an ISO shall be 110% of the Fair Market Value of the Shares on the date the ISO is gr...
