Incentive Stock Plans. All outstanding stock options granted under any stock plan or program of the Company (collectively referred to as the “ISPs”), will immediately become fully vested and exercisable upon a Change in Control (or upon Employment Termination during a Period Pending a Change in Control). All restricted stock and stock units granted under the ISPs will immediately become fully vested upon a Change in Control (or upon Employment Termination during a Period Pending a Change in Control) and will be distributed in accordance with the distribution provisions set forth in the applicable stock plan agreements between the Company and the Executive, but subject to compliance with the requirements of Section 409A of the Code). In addition, each other equity based award shall become fully vested (and, to the extent applicable, exercisable or distributable) upon a Change in Control (or upon Employment Termination during a Period Pending a Change in Control). Notwithstanding anything to the contrary contained in an ISP or an option agreement issued pursuant to an ISP, following any Employment Termination, (i) all outstanding non-qualified stock options granted to the Executive under an ISP and (ii) all outstanding incentive stock options granted to the Executive on or following September 25, 2001 shall remain outstanding and exercisable until the earliest of (a) the exercise of such option by the Executive, (b) the fifth anniversary of the Executive’s Employment Termination or (c) the original expiration date of the respective award. For the avoidance of doubt, the provisions of this Section 1(c) shall not be construed as superseding any provisions of any equity or equity-based award (whether in existence on the date hereof or granted in the future) which provides for more favorable treatment.
Incentive Stock Plans. During the Term, the Executive shall be eligible to participate in any incentive stock plans established by the Company from time to time and at any time, subject in all cases to the satisfaction by the Executive of the terms and conditions of such plans and to the reasonable exercise by the Company Board of any discretion granted to it thereunder.
Incentive Stock Plans. Executive shall be eligible to participate in the Company's incentive stock plan(s) to the extent determined by the Board or its duly authorized committee in its sole discretion. The determination of award(s) under such stock plans shall be made by the Board or such duly authorized committee from time to time in its sole discretion. The Company and Executive currently anticipate an award to Executive of at least 50,000 options to purchase common stock of the Company per year; provided, that the final determination of award(s) under incentive stock plans shall be made by the Board or its duly authorized committee from time to time in its sole discretion. Notwithstanding anything to the contrary in any stock option agreement evidencing any stock option grant to the Executive, in the event of Executive's death while employed by the Company, all stock options held by Executive at the time of his death shall accelerate and become immediately exercisable in full.
Incentive Stock Plans. Executive shall be eligible to participate in the Company’s incentive stock plan(s) to the extent determined by the Board or its duly authorized committee in its sole discretion. The determination of award(s) under such stock plans shall be made by the Board or such duly authorized committee from time to time in its sole discretion. Promptly upon the execution and delivery of this Agreement by the parties and commencement of services by Executive hereunder, the Board will award Executive 100,000 options to purchase common stock of the Company, which options will be fully vested upon issuance and priced at fair market value on the date of grant. Executive shall also be eligible for future awards, in the discretion of the Board.
Incentive Stock Plans. It is acknowledged and agreed that the Employee shall be eligible to participate in such incentive stock plans as the Company shall adopt form time to time during the Term, including, without limitation, the 1996 Stock Option Plan effective as of October 23, 1996 and the grant, effective December 10, 1996, of an incentive stock option thereunder for the purchase of 11,047 shares of Common Stock.
