Incentive Stock Option Program Sample Clauses

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
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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 Xxx Xxxxxxx, Xxxxxx Xxxxx and Xxxx Xxxxx.
Sample 1
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.
Sample 1
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.
Sample 1
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:
Sample 1
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.
Sample 1
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.
Sample 1
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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 (000) 000-0000.
Sample 1

Related to Incentive Stock Option Program

  • Incentive Stock Option If this Option qualifies as an ISO, the Optionee will have no regular federal income tax liability upon its exercise, although the excess, if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price will be treated as an adjustment to alternative minimum taxable income for federal tax purposes and may subject the Optionee to alternative minimum tax in the year of exercise. In the event that the Optionee ceases to be an Employee but remains a Service Provider, any Incentive Stock Option of the Optionee that remains unexercised shall cease to qualify as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option on the date three (3) months and one (1) day following such change of status.

  • Incentive Stock Options If the Shares are held for more than twelve (12) months after the date of the transfer of the Shares pursuant to the exercise of an ISO and are disposed of more than two (2) years after the Date of Grant, any gain realized on disposition of the Shares will be treated as long term capital gain for federal and California income tax purposes. If Shares purchased under an ISO are disposed of within the applicable one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price.

  • Stock Option Plan The Executive shall be eligible to participate in the Company's Stock Option Plan in accordance with the terms and conditions thereof.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Stock Option Award In the event of Employee’s involuntary Termination of Employment without Cause or Termination of Employment due to a resignation by Employee for Good Reason that, in either case, occurs on or before the second anniversary of a Change in Control, the Stock Option Award shall become exercisable immediately (whether or not previously exercisable) and shall remain exercisable for the three year period following such Termination of Employment. For this purpose, “Good Reason” has the same meaning determined by Employee’s written employment agreement in effect on the Grant Date. In the event there is no such agreement or definition, then Good Reason means the initial existence of one or more of the following conditions, arising without the consent of the Employee: (1) a material diminution in Employee’s base compensation; (2) a material diminution in Employee’s authority, duties, or responsibilities, so as to effectively cause Employee to no longer be performing the duties of his position; (3) a material diminution in the authority, duties, or responsibilities of the supervisor to whom Employee is required to report.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Stock Option Grants Pursuant to the following terms and conditions, the Executive shall be eligible to participate in Holdings’ stock option plan and Holdings agrees as follows: i. Holdings shall establish a stock option plan (“Stock Option Plan”) providing for grants of options (the “Stock Options”) to purchase the common stock of BD Investment Holdings Inc., par value $0.01 (the “Buyer Common Stock”) in amounts not less than (i) 2% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2008 and January 1, 2009 and (ii) 2.5% of the Buyer Common Stock (on a fully-diluted post-exercise basis) in the aggregate per year for all executives, employees and financial advisors of the Company and its subsidiaries, including the Executive, selected by the Board after consultation with, and based on the recommendation of, the CEO, for the calendar years beginning on January 1, 2010 and January 1, 2011. ii. Beginning in January 2008, each annual Stock Option grant shall be made between the first and fifteenth business day of the year, unless the CEO, in his sole discretion, shall agree with the Board to a later date during such year (the “Default Date”). If the Board does not approve Stock Option grants in the amounts set forth in Section 4(c)(i) by the Default Date, then Stock Options in such amounts shall be granted pro-rata to existing option holders and employee stockholders as of such date of grant, except that the CEO’s share of such Stock Option grants shall be reduced by 75% and the other four most highly compensated executives’ share of such Stock Option grants shall be reduced by 50%. iii. The per share exercise price of each Stock Option shall be equal to the Fair Market Value of a share of Buyer Common Stock on the date of grant. Each Stock Option granted shall vest in five equal tranches on each of the first five anniversaries of the date of grant subject to the option holder’s continued employment as of each such vesting date; provided, however, that all Stock Options shall automatically vest in full upon a “change in control” (as defined in the Option Plan, it being understood that an IPO shall in no event constitute a change in control). Notwithstanding any provision of this Agreement to the contrary, following an IPO, no additional Stock Options shall be granted pursuant to the Stock Option Plan. iv. Upon termination of his employment, the portion of any Stock Option granted to the Executive which has not yet vested shall terminate. In the event the Executive’s employment terminates for any reason other than for Cause, the Executive may exercise any vested portion of any Stock Option held by him on the date of termination provided that he does so prior to the earlier of (A) ninety (90) days following termination of employment and (B) the expiration of the scheduled term of the Stock Option. Notwithstanding the foregoing, if the Executive’s employment is terminated due to death or disability (as defined in Section 5(b)), then the Executive or, as applicable in the event of death, his beneficiary or estate, may exercise any vested portion of any Stock Option held by the Executive on the date employment terminates for the shorter of (A) the period of twelve (12) months following the termination date and, (B) with respect to each Stock Option individually, the expiration of the scheduled term of such Stock Option. Upon a termination of the Executive’s employment by the Company for Cause, all Stock Options shall be forfeited immediately. v. Holdings, the Company and the Executive agree to cooperate to structure the Stock Option Plan so as to minimize or avoid additional taxes and interest that would otherwise be imposed on the Executive with respect to options granted under the Stock Option Plan pursuant to Section 409A of the Internal Revenue Code as amended (the “Code”); provided, however, that the Company shall have no obligation to grant the Executive a “gross-up” or other “make-whole” compensation for such purpose.

  • Employee Stock Options Except as provided in this Agreement or pursuant to the provisions of any Plan or employee or director stock option agreement as in effect on the date hereof, from the date hereof Company will not accelerate the vesting or exercisability of or otherwise modify the terms and conditions applicable to the Employee Stock Options. At the Effective Time, each of the Employee Stock Options which is outstanding and unexercised at the Effective Time shall be converted automatically into an option to purchase Parent Shares in an amount and at an exercise price determined as provided below (and otherwise subject to the terms of the stock option plans of Company governing the Employee Stock Options (the "Company Stock Option Plans")): (1) The number of Parent Shares to be subject to the new option shall be equal to the product of the number of Shares subject to the original option and the Exchange Ratio, PROVIDED that any fractional Parent Shares resulting from such multiplication shall be rounded down to the nearest share and, except with respect to any options which are intended to qualify as "incentive stock options" (as defined in section 422 of the Code ("ISOs")), Parent shall pay an amount in cash to the holder of such Employee Stock Option equal to the fair market value immediately prior to the Effective Time of such fractional Parent Shares calculated based on the average closing price on the New York Stock Exchange for the last five trading days immediately preceding the day prior to the Effective Time; and (2) The exercise price per Parent Share under the new option shall be equal to the aggregate exercise price of the original option divided by the total number of full Parent Shares subject to the new option (as determined under (1) immediately above), PROVIDED that such exercise price shall be rounded up to the nearest cent. The adjustment provided herein with respect to any ISOs shall be and is intended to be effected in a manner that is consistent with section 424(a) of the Code. The duration and other terms of the new option shall be the same as that of the original option, except that all references to Company shall be deemed to be references to Parent. Parent shall file with the SEC a registration statement on Form S-8 (or other appropriate form) or a post-effective amendment to the Registration Statement as promptly as practicable after the Effective Time for purposes of registering all Parent Shares issuable after the Effective Time upon exercise of the Employee Stock Options, and shall have such registration statement or post-effective amendment become effective and comply, to the extent applicable, with state securities or blue sky laws with respect thereto at the Effective Time.

  • Nonstatutory Stock Option If the Grant Notice so designates, this Option is intended to be a Nonstatutory Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code.

  • Nonqualified Stock Option The Option is a nonqualified stock option and is not, and shall not be, an incentive stock option within the meaning of Section 422 of the Code.

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