Incentive Stock Plan Sample Clauses

Incentive Stock Plan. The Executive shall be entitled to participate in the Company's incentive stock ownership plan (the "Plan"). All grants of stock options made to the Executive shall be at the sole discretion of the Board of Directors and shall be made in accordance with and subject to the terms of the Plan and a separate agreement or commitment evidencing the options shall be entered into concurrently with any such grant.

Incentive Stock Plan. From time to time, at the direction of the Board of Directors of the Parent Company, or its compensation committee, Employee shall be eligible to receive options to purchase shares of the Parent Company's Common Stock. Within 60 days after the Effective Date, the Parent Company shall issue to Employee 120,000 options to purchase the Parent Company's common stock at market value (determined as of the last closing price prior to the date of issue of the options). This grant shall be vested in annual increments over three years and the options shall have a term of six years.

Incentive Stock Plan. If the Plan is not approved by the Company's shareholders within one year of its adoption, such failure of obtaining shareholder approval shall have no effect whatsoever as to the validity or enforceable of the Option, and the Option shall be deemed a non-incentive stock option granted apart from the Plan and reference to the Plan shall be made to provide the meaning and intent to the terms and provisions that are not otherwise defined herein.

Incentive Stock Plan. FPM and FPI agrees that for a period of eighteen (18) months after the Closing, FPM shall not (i) issue additional options or grant restricted stock under the FPM 2011 Equity Incentive Plan (the “Equity Plan”) at a price per share that is less than $0.83; (ii) implement any incentive stock option plan, restricted stock plan or equity compensation plan; and (iii) take any action to amend to increase or alter in any way the number of shares that are authorized for issuance under the Equity Plan.

Incentive Stock Plan. Employer has adopted an Employee Incentive Stock Plan and will, as a condition of employment, award Employee an Option to purchase up to 1,000,000 shares of the $0.00001 par value Common Stock of Employer, at a price equal to eighty percent (80%) of the last bid price of such Common Stock on the American Stock Exchange on the day preceding the date hereof. 200,000 of such Options shall be vested upon execution hereof and the balance shall vest at the rate of 200,000 on each anniversary of Employee's employment and shall be further conditioned upon Employee's continued employment at the time of each vesting.

Incentive Stock Plan. Effective as of the Commencement Date, the Executive shall be granted non- qualified options (the "Option") to purchase 400,000 shares of common stock of the Company, par value $.01 per share ("Common Stock"), under the Company's Incentive Stock Plan (the "Incentive Stock Plan"), at a per share exercise price equal to the greater of (1) the closing price per share (the "Price Per Share") of Common Stock on the New York Stock Exchange (or if not then listed on such exchange, such other national securities exchange or quotation system as then listed upon) on the Commencement Date or (2) $11. Such options will become vested and exercisable at the rate of (x) 33-1/3% of such options on each of the first three anniversaries of the Commencement Date and shall expire on the earlier of the third anniversary of the termination of the Executive's employment (90 days following termination of employment if his employment is terminated for Cause (as defined below)) or the tenth anniversary of the Commencement Date. The Company agrees that such grant shall not be in lieu of, or otherwise be taken into account in determining the size or terms of, the annual long term incentive grant to the Executive for the 2001 or other fiscal year.

Incentive Stock Plan. The Company shall adopt an Incentive ---------------------- Stock Plan for 2003. From time to time, at the direction of the Board of Directors, or its compensation committee, Executive shall be eligible to receive options to purchase shares of the Company's Common Stock. At the signing of this agreement, the Company shall issue 1,000,000 options post split or 4,000,000 non split options to purchase the Company's common stock at 50% of market value (determined on the date contract is executed). On execution of the contract, 25% of this plan shall be vested immediately with the remaining 75% vested 25% annually over the initial three year term of the contract. These options will have a cashless exercise provision.

Incentive Stock Plan. The Company shall adopt an Incentive ---------------------- Stock Plan for 2003. From time to time, at the direction of the Board of Directors, or its compensation committee, Executive shall be eligible to receive options to purchase shares of the Company's Common Stock. At the signing of this agreement, the Company shall issue an option for 500,000 shares post split, or 2,000,000 shares pre-split, to purchase the Company's common stock at market value (determined on the Effective Date of Employment Contract). On execution of the contract, the option shall be vested immediately. These options will have a cashless exercise provision. In addition, Executive shall be awarded 300,000 shares of restricted common stock, of which 60,000 shares shall vest on execution of the Employment Contract and the balance shall vest ratably over the next four anniversaries of the Effective Date.

Incentive Stock Plan. Employee shall be eligible to participate in the Company's incentive stock plan. Under the Incentive Stock Option Plan, the Employee shall be granted the Option to purchase 200,000 shares of BSD Common Stock at the fair market value of such shares as determined by the stock trading price averaged over the previous 30 days to the date of signing this Agreement. This Option shall vest over the next five years in the amount of 40,000 per year. The vesting of the first 40,000 shall be one year from the signing date of this Agreement and the vesting of 40,000 in each of the subsequent four (4) years on the anniversary date on this Agreement.

Incentive Stock Plan. The Company is authorized to issue up to 5,000,000 shares of common stock to directors, employees and consultants.