INCENTIVE STOCK OPTION AGREEMENT. The Company may, but will in no event be obligated to, register any securities issuable upon the exercise of all or any portion of the Stock Option pursuant to the Securities Act of 1933 (as now in effect or as hereafter amended) or to take any other affirmative action in order to cause the exercise of the Stock Option or the issuance of shares pursuant thereto to comply with any law or regulation of any governmental authority. The certificates representing shares issued to Optionee hereunder shall bear such legends as Company determines appropriate referring to restrictions on the transfer of such shares imposed by this Agreement and such other legends as are required or appropriate under applicable law.
INCENTIVE STOCK OPTION AGREEMENT. Attached hereto as Exhibit "C" --------------------------------- is a copy of the Incentive Stock Option Agreement dated June 27, 1994, as amended by the Amendment to United Park City Mines Company Incentive Stock Option Agreement dated as of August 25, 1995 by and between the Company and Xxxxxxxx, which shall continue in effect pursuant to the terms and conditions set forth therein. If at any time during the term of this Agreement the "Capital Stock" of the Company, as such term is defined in the Incentive Stock Option Agreement, as amended, ceases to be listed on the stock exchange of any United States public listing agency, such as the New York Stock Exchange or NASDAQ (any such public listing agency individually referred to herein as a "Stock Exchange") for a period of ninety (90) consecutive calendar days, then Xxxxxxxx shall be entitled to give notice to the Company of Xxxxxxxx'x election to cause the Company to purchase from Xxxxxxxx all of his right, title and interest arising under the Incentive Stock Option Agreement, provided that Xxxxxxxx gives to the Company written notice of such election by Xxxxxxxx within thirty (30) days after the date that the Capital Stock of the Company has not been listed on any Stock Exchange for a period of ninety (90) consecutive days. In the event Xxxxxxxx exercises his right to cause the Company to purchase all of Xxxxxxxx'x right, title and interest under the Incentive Stock Option Agreement, the purchase price to be paid by the Company to Xxxxxxxx for all of his right, title and interest arising under the Incentive Stock Option Agreement shall be an amount equal to the total number of Option Shares which Xxxxxxxx is then entitled to purchase under the Incentive Stock Option Agreement multiplied by a dollar amount calculated as follows:
(i) the closing bid price per share of the Company's Capital Stock on the date which is five (5) business days prior to the date which is the earlier to occur of: (i) the date that the Capital Stock of the Company ceases to be listed on any Stock Exchange, provided that the Capital Stock of the Company thereafter remains unlisted on any Stock Exchange for a period of ninety (90) consecutive calendar days, or (ii) the date that the Stock Exchange which then lists the Capital Stock of the Company announces its intention to discontinue the listing of the Company's Capital Stock on such Stock Exchange, provided that another Stock Exchange does not simultaneously announce its commitmen...
INCENTIVE STOCK OPTION AGREEMENT. Contemporaneously with this Agreement, Employer has granted Employee the opportunity to purchase up to two hundred thousand (200,000) shares of Employer’s common stock at One Dollar and Eighty-Five Cents ($1.85) per share pursuant to an Incentive Stock Option Agreement, the form of which is attached hereto as Exhibit B and incorporated herein by reference, and Employer’s 1996 Employees’ Incentive Stock Option Plan. As further set forth in the Incentive Stock Option Agreement, sixty thousand (60,000) shares are “Performance Option Shares” that vest only in accordance with the Merit Plan adopted by the Board of Directors and upon achieving performance objectives established by the President and Chief Executive Officer. The Incentive Stock Option Agreement shall not obligate Employee to exercise his option to purchase stock of Employer and does not obligate Employer to continue Employee’s employment.
INCENTIVE STOCK OPTION AGREEMENT. SCHEDULE A
INCENTIVE STOCK OPTION AGREEMENT. If the Stock Option (or any part thereof) does not qualify for Incentive Stock Option treatment for any reason, then, to the extent of such nonqualification, the Stock Option (or such portion thereof) shall be treated as a Nonqualified Stock Option granted under the Plan, provided that the Stock Option (or such portion thereof) otherwise satisfies the terms and conditions of the Plan generally relating to Nonqualified Stock Options.
INCENTIVE STOCK OPTION AGREEMENT. In the event of the Optionee’s termination of employment for Cause (as defined in the Employment Agreement), the Optionee’s entire Stock Option (whether or not vested) shall be forfeited and canceled in its entirety upon such termination of employment.
INCENTIVE STOCK OPTION AGREEMENT. Incentive Stock Option This option is intended to be an incentive stock option under Section 422 of the Internal Revenue Code and will be interpreted accordingly. If you cease to be an employee of the Company, its parent or a subsidiary (“Employee”) but continue to provide Service, this option will be deemed a nonstatutory stock option three months after you cease to be an Employee. In addition, to the extent that all or part of this option exceeds the $100,000 rule of section 422(d) of the Internal Revenue Code, this option or the lesser excess part will be deemed to be a nonstatutory stock option.
INCENTIVE STOCK OPTION AGREEMENT. On the date hereof, the Company and the Executive shall enter into an Incentive Stock Option Agreement substantially in the form attached hereto as EXHIBIT E.
INCENTIVE STOCK OPTION AGREEMENT. Subject to the approval of the directors and shareholders of Greer Bancshares Incorporated of an incentive stock option plan, the Executive will receive an incentive stock option agreement that will provide, in general, the following:
(i) The option to purchase Fifty Thousand (50,000) shares of Greer Bancshares Incorporated stock.
(ii) The Executive’s right to actual purchase these shares shall accrue at the rate of Five Thousand (5,000) shares after each full year of employment at the Bank. If the Executive’s employment with the Bank is terminated, the right to purchase any shares not yet accrued shall expire. The Executive’s right to purchase accrued shares shall be unaffected by his termination of employment.
(iii) The strike price for each share shall be the fair market value as of the date the Board of Greer Bancshares Incorporated approves the grant of the option to purchase the Fifty Thousand (50,000) shares.
(iv) More detailed provisions, including change of control and forfeiture provisions, shall be set forth in a separate incentive stock option agreement, but those provisions shall be consistent with the general provisions set forth herein.
INCENTIVE STOCK OPTION AGREEMENT. The Option may become immediately exercisable for the full number of Option Shares in the event of a reorganization as defined in the Plan. 3.
