Incentive Stock Option Program Clause Samples
The Incentive Stock Option Program clause establishes a framework for granting employees the right to purchase company stock at a predetermined price, typically as part of their compensation package. This clause outlines eligibility requirements, vesting schedules, and the terms under which options can be exercised, often including conditions related to continued employment or company performance. Its core function is to incentivize employees to contribute to the company's success by aligning their financial interests with those of the company, while also providing a tax-advantaged method of compensation.
Incentive Stock Option Program. If the Board of Directors of Employer elects to institute an Incentive Stock Option program, or other stock program not currently in effect, Employee shall be eligible to participate in said program under the guidelines set forth, and continue to participate in the Employment Stock Option Program, the Board may elect to reduce Employee's participation in any such incentive stock option program by 25% vis a vis other officers or directors during the first two years of employee's employment. However, this reduction can only apply to one stock option program if multiple programs are in place. Performance Bonus Eligibility
Incentive Stock Option Program. Employee shall be entitled to participate in the incentive Stock Option Program of the Company's parent, Medley Credit Acceptance Corp. The number of incentive stock options distributable by the Company will be based upon the Company's annual net income as follows: If the Net Income of the Company is in excess of: $500,000 75,000 ISO's $1 million 100,000 ISO's $1.5 million 125,000 ISO's $2.0+ million 150,000 ISO's The Incentive Stock Option Program shall be funded with common shares of the C:ompany's parent Medley Credit Acceptance Corp., pursuant to the terms of that certain stock option plan for Medley Credit Acceptance Corp. dated December 31, 1996, as amended from time to time. The distribution of the ISO's to individual employees of the Company shall be determined by the Company's Leasing, Division Operating Committee composed of ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇▇
Incentive Stock Option Program. Employee shall be entitled to participate in the Incentive Stock Option Program which will be based upon the Company's return on its capital in excess of the cost of its capital. The Incentive Stock Option Program shall be funded with shares of the Company's parent, Medley Credit Acceptance Corp., pursuant to the terms of that certain agreement between Employee and Medley Credit Acceptance Corp. Dated March 4th, 1998.
Incentive Stock Option Program. Following the Closing, the key ------------------------------ members of CCC management listed on Schedule 3 to this Agreement shall be entitled to participate in the BI employee incentive stock option program, although actual grants shall remain subject to approval by the BI board of directors. The amounts of the initial grants and the maximum allowable over a three to five year period are listed on Schedule 3. The terms and conditions of all such options shall conform with other options granted pursuant to such program.
Incentive Stock Option Program. Employer will designate Employee as a key employee eligible for the grant of incentive stock options under the Key Employee Stock Compensation Program (“Stock Option Program”). In that regard Employer will grant to Employee, under the terms of the Stock Option Program, an option to acquire a minimum total of 50,000 shares of Florida Business BancGroup, Inc. stock, to be vested over a four year period and at a strike price of $10.00 per share. While grants may occur periodically, the aggregate number of shares granted shall total at least 50,000 by December 31, 2005 if Employee remains an employee of Employer. Otherwise, the grant of the stock options shall be made strictly in accordance with the terms of the Stock Option Program, as it may be amended from time to time. The grant of the options referred to in this Section 6 shall not preclude the grant of additional options under the Stock Option Program or any other program or plan adopted by Employer.
Incentive Stock Option Program. As a participant in the Incentive Stock Option Program, our records indicate that you will have available vested but unexercised options to purchase 40,000 shares of Marcam Common Stock. The following table reflects those vested stock options available to you as of the Termination Date. Number of Vested Exercise Price Per Grant Date Shares Share 2/29/96 40,000 $12.875 Pursuant to the terms and conditions of the Stock Plans under which your stock options have been granted, you must exercise all vested incentive stock options within ninety (90) days from the Termination Date, after which all such options expire. All other incentive stock options not yet exercisable will be forfeited in accordance with their terms. For further information regarding the incentive stock option program, please contact Stock Plan, Inc. at (▇▇▇) ▇▇▇-▇▇▇▇.
Incentive Stock Option Program. Employee shall be entitled to participate in the Incentive Stock Option program of the Company's parent, Finantra Capital, Inc. on an annual basis beginning with the calendar year January 1, 1999. The number of incentive stock options distributable by the Company to the Employee will be based upon the Company's annual net pre-tax income as follows: If the Net Pre-Tax Income of the Company is in excess of: NET PRE-TAX INCOME ISO GRANT 500,000 25,000 750,000 50,000 1,000,000 75,000 1,250,000 100,000 1,500,000 125,000 1,750,000 150,000 2,000,000 175,000 2,250,000 200,000 Notwithstanding the above distribution schedule, should the Company achieve net pre-tax income in the calendar year 1999 of at least $250,000.00, Employee shall be granted 50,000 ISO's. This exception to the distribution schedule shall only apply to the calendar year 1999. The Incentive Stock Option Program shall be funded with common shares of the Company's parent, Finantra Capital, Inc. The ISO's shall have a vesting period of six months and an exercise period of eighteen (18) months from the date of issuance. The exercise price of the options shall be equal to the closing price of the stock on the date of issuance multiplied by 65%. Payment shall be due in full upon the exercise of the option by the Employee.
Incentive Stock Option Program. Employee shall be entitled to participate in the Incentive Stock Option Program of the Company on an annual basis during the term of this agreement as follows: