Incentive Option Grant Sample Clauses

Incentive Option Grant. In consideration of entering into this Agreement, Employee shall be awarded as of the Effective date fully vested ten year options to purchase 30,000 shares of Davel Communications, Inc. common stock at an exercise price equal to the average final closing price for the 30 trading days immediately preceding the Effective Date.

Incentive Option Grant. The Corporation hereby grants to the Executive, on the Effective Date of this Agreement, options to purchase, subject to Section 3d below (the “Incentive Option Grant”), an aggregate of Two Million Eighty Two Thousand Three Hundred (2,082,300) shares of Corporation Common Stock (the “Option Shares”), at a purchase price of [$0.02] per share (the “Option Price”). The number of Option Shares shall be subject to appropriate reduction and the Option Price shall be subject to appropriate increase in the event of a reverse split of the Corporation’s outstanding Common Stock. Conversely, the number of Option Shares shall be subject to appropriate increase and the Option Price shall be subject to appropriate reduction (but not lower than the par value per share) in the event of a forward split of the Corporation’s outstanding Common Stock.

Incentive Option Grant. The Corporation previously granted to the Executive, options to purchase, subject to Section 3d below (the “Incentive Option Grant”), an aggregate of One Million Eight Hundred Twenty-Eight Thousand Five Hundred Fifty (1,828,550) shares of Corporation Common Stock (the “Option Shares”), at a purchase price of 2 cents per share (.02) (the “Option Price”). Due to subsequent stock splits from the initial grant, these options have since reversed to 307,319 options at an exercise price of 12 cents (.12) per share. At each subsequent filing, prior to the IPO, additional shares shall be granted as shall be equal to the difference between the options previously issued and (3%) of the “Fully Diluted Common Stock of the Corporation directly prior to the IPO effective date. All shares shall be amended to an option exercise price of par value. (.0001). Option Shares shall be subject to appropriate reduction and the Option Price shall remain at par in the event of a reverse split of the Corporation’s outstanding Common Stock. Conversely, the number of Option Shares shall be subject to appropriate increase and the Option Price shall remain at par in the event of a forward split of the Corporation’s outstanding Common Stock.

Incentive Option Grant. Upon the achievement of certain objectives to be agreed in writing between the Executive and the Board, the Executive shall receive an additional option (the “Incentive Option”) to purchase 300,000 shares of Common Stock of the Company plus a number of shares equal to one percent (1%) of the fully diluted shares issued in connection with the Financing (the “Incentive Option Shares”). This Incentive Option Grant shall be divided into two (2) equal grants, each of which shall be contingent on the achievement of one or more of the mutually agreed upon objectives described above. Twenty percent (20%) of each grant of the Incentive Option Shares, as applicable, shall vest on the first anniversary of the date of grant of such Incentive Option, twenty percent (20%) of each grant of the Additional Option Shares , as applicable, shall vest in equal monthly installments thereafter over the subsequent twelve (12) months and the remaining sixty percent (60%) shall vest in equal monthly installments thereafter over the subsequent twenty-four (24) months, subject to the Executive’s continued employment by the Company. The Incentive Option shall be exercisable at a price per share equal to the fair market value of the Common Stock of the Company on the date of grant. By way of example only, and without creating any right or obligation for either party, the type of objective that may trigger the Incentive Option Grant, subject to the parties written agreement regarding the same, includes: completing the Financing at a price per preferred share that equals or exceeds one hundred ten percent (110%) of the price of a Company Series A Convertible Preferred Share immediately following the Company’s most recent round of financing, closing a significant corporate collaboration within twelve (12) months following the Commencement date, or commencing a first-in-man clinical trial of a dicer substrate by ▇▇ ▇▇▇▇. The Initial Option, the Additional Option and the Incentive Option shall be subject to the terms and conditions as specified in the Company’s Third Amended and Restated 2007 Employee, Director and Consultant Stock Plan (the “Stock Plan”), and one or more non-qualified stock option agreements to be executed by the Executive and the Company in substantially the form attached hereto as Exhibit A (the “Non-Qualified Stock Option Agreements”), one of which shall be executed by the Executive and the Company contemporaneously herewith.

Incentive Option Grant. The Company may, in its sole discretion, grant to the Consultant an option to purchase one hundred thousand (100,000) shares of the Company's common stock (the "Incentive Option") upon the successful conclusion of the Company's legal proceedings against W. ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ▇▇ and ▇▇▇▇▇▇ ▇▇▇▇. The term of the Incentive Option shall be three (3) years and fully vest and become exercisable immediately upon the grant hereof. The exercise price of the Incentive Option shall be the closing price of the Company's common stock on the date of the grant thereof.

Incentive Option Grant. Subject to Section 3d below, the Corporation hereby grants to the Executive, a number of options (the “Incentive Option Grant”) to purchase such number of shares of the Corporation’s Common Stock (the “Option Shares”) as shall be equal to the difference between (i) three (3%) of the “Fully-Diluted Common Stock of the Corporation directly prior to the IPO effective date, less (ii) the sum of all shares of Corporation Common Stock plus all options to purchase shares of Corporation Common Stock issued or issuable to the Executive and/or his spouse in connection with his and/or her employment and activities on behalf of Everest Display, Inc., a Taiwan corporation, and its subsidiaries.