Incentive Options. The terms specified below shall be applicable to all Incentive Options. Except as modified by the provisions of this Section II, all the provisions of Articles One, Two and Five shall be applicable to Incentive Options. Options which are specifically designated as Non-Statutory Options when issued under the Plan shall not be subject to the terms of this Section II.
Incentive Options. In addition to the Annual Compensation detailed herein, MANAGER shall receive stock option allocations giving the employee the right to purchase stock in the company at current Fair Market Value (FMV) in accordance with the Elite Logistics Inc., 2000 Employee Incentive Plan. Allotment Exercise Price Vesting Period Allocation Date --------- ----------------- -------------- --------------- 0 Shares FMV on Grant Date 3 years January 1, 2001 0 Shares FMV on Grant Date 3 years January 1, 2002 0 Shares FMV on Grant Date 3 years January 1, 2003
Incentive Options. Only employees of the Company or of an Affiliated Company (including officers of the Company and members of the Board if they are employees of the Company or of an Affiliated Company) are eligible to receive Incentive Options under the Plan.
Incentive Options. (a) The Partnership hereby grants to the Manager options (the “Options”) to purchase Common Units of the Partnership, as defined in the Partnership's Limited Partnership Agreement (“Common Units”), subject to the following terms and conditions as set forth in this SECTION 9 (references in this SECTION 9 to the "Manager" shall include any Affiliate or Persons designated by the Manager to be a recipient of Options):
(i) The aggregate number of Common Units subject to the Options shall be 4,965,690, which is equal to fifteen percent (15%) of the sum of the Common Units of the Partnership outstanding and the number of notional units used to determine the Deferred Fee Accounts in accordance with that certain Second Amended and Restated Deferred Fee Agreement, effective as of July 15, 2009, between the Partnership and WGL Capital Corp. (the “Deferred Fee Agreement”), each as of July 15, 2009 (the “Grant Date”), on a fully diluted basis;
(ii) The per Common Unit exercise price of the Options shall be $31.81. In addition, subject to SECTION 9(a)(viii) herein, the Exercise Price shall be adjusted for any cash distributions, any distributions-in-kind and any release to the former partners of the Onshore Fund of amounts previously held in reserve to satisfy certain potential contingent liabilities and unknown expenses of the Onshore Fund;
(iii) The Options shall vest immediately upon issuance;
(iv) The Options shall expire on December 31, 2011;
(v) Subject to limitations, if any, under Section 409A of the Code, all or a portion of the Options shall be transferable to any Affiliate of the Manager or any officer or employee of the Manager or its Affiliates;
(vi) The Options may be exercised in whole or in part during their term, and the Exercise Price shall be payable (a) in cash or by check, bank draft or money order payable to the order of the Partnership, (b) through a “cashless exercise” procedure whereby the Option holder delivers irrevocable instructions to a broker to deliver promptly to the Partnership an amount equal to the aggregate Exercise Price of the Options being exercised (the “Aggregate Exercise Price”), (c) by the Option holder’s delivery to the Partnership of Common Units owned by the Option holder having a fair market value on the payment date equal to the Aggregate Exercise Price, (d) by a "net exercise" procedure through which the Option holder directs the Partnership to withhold the number of Common Units subject to the Options having a fair mark...
Incentive Options. The options granted hereunder are intended to be Incentive Options as defined in the Plan and Section 422 of the Code, but the Company makes no warranty as to the qualification of any option as an Incentive Option.
Incentive Options. The terms specified below shall be applicable to all Incentive Options. Except as modified by the provisions of this Section n, all the provisions of the Plan shall be applicable to Incentive Options. Options which are specifically designated as Non-Statutory Options shall not be subject to the terms of this Section II.
Incentive Options. The Options shall quality as Incentive Options under Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"), to the extent that the aggregate fair market value of the shares underlying the Incentive Option portion that is first exercisable within the same calendar year does not exceed $100,000.00. The Grantee may not dispose of the shares underlying Incentive Options within two (2) years of the Date of Grant or one (1) year of the date of exercise of the Option. The Grantee may not transfer Incentive Options except by Last Will and Testament or the laws of descent and distribution. Incentive Options shall be subject to such other restrictions as are necessary to qualify them as Incentive Options under the Code.
Incentive Options. Officers and other key employees of the Company or of an Affiliated Company (including members of the Board if they are employees of the Company or of an Affiliated Company) are eligible to receive Incentive Options under the Plan.
Incentive Options. Upon the authorization of this agreement, the Board will grant Employee options to purchase 60,000 shares under the current equity incentive plan, with the strike price being the FMV of the stock as of the date of grant. The options are to vest immediately.
Incentive Options. (i) In recognition of the considerable challenges accepted by him, Executive shall receive an Incentive Bonus consisting of a stock option grant to purchase 500,000 shares of the Company's common stock fully vested and priced at $.0001 per share. The Incentive Options shall expire five years from the date of this Agreement unless earlier exercised.
(ii) In addition Executive shall receive a stock option grant of 500,000 shares of the Company's common stock priced at $.0001 per share, and vesting in accordance with the appropriate portions of the Performance Bonus schedule specified below (the "Performance Options'). The Performance Options that become vested shall expire five years from the date of this Agreement unless earlier exercised. 103
(iii) In case of any merger in which the Company is not the surviving entity, reclassification, capital reorganization or other change of outstanding shares of the securities of the Company (other than a change in par value, or from par value to no par value, or from no par value to par value), the Company shall cause effective provision to be made so that the Executive shall have the right thereafter, by exercising Incentive Options specified in paragraph 4b(i) and all Performance Options that are vested, to purchase the kind and amount of shares of securities and property receivable by the security holders upon such merger, reclassification, capital reorganization or other change.
