Initial Grant. As soon as practicable after the effective date of this Agreement and subject to Board and all other required approvals, the Company shall grant to the Executive under the Company’s Amended and Restated 2003 Stock Incentive Plan (the “Plan”) a non-qualified stock option to purchase a number of shares of the common stock of the Company equal to 5.15% of the Company’s fully-diluted common stock (excluding the effects of any conversion of the (i) debt issued in connection with the Initial Financing, (ii) the investor convertible subordinated debt issued in January 2014 or (iii) any other convertible debt that is issued prior to the thirty-six (36) month anniversary of the Effective Date) with a per share exercise price equal to the fair market value of the Company’s common stock (as determined by the Board pursuant to the Plan) at the time of grant. The Initial Grant shall be granted pursuant to and governed by the terms of a stock option award agreement in a form provided by the Company at the time of grant; provided, however, that the form shall provide for cashless exercise of the option in an amount sufficient to satisfy the option exercise price. Provided the Executive remains continuously and actively employed with the Company through the applicable vesting date, the Initial Grant will be vested and exercisable with respect to (i) 10% of the underlying common stock as of the Effective Date, (ii) 25% of the underlying common stock on the first (1st) anniversary of the Effective Date, and (iii) the remaining shares of underlying common stock in substantially equal monthly installments over the 36-month period that commences on the first (1st) anniversary of the Effective Date. Notwithstanding the foregoing, the Initial Grant shall be fully vested and exercisable immediately prior to, but contingent upon, the occurrence of a Change in Control (as defined above), provided the Executive remains continuously and actively employed with the Company through the date of such Change in Control. Executive’s Initials & Date
Initial Grant. Following the execution of this Agreement, the Executive shall be granted 500,000 options to acquire common shares in the capital of the Parent, with the price and terms of such options to be established by the Board of Directors of the Parent in accordance with the Parent's stock option plan.
Initial Grant. COMPANY shall issue a total of [***] shares (the “Shares”) of Common Stock of COMPANY, $0.0001 par value per share (“Common Stock”), to M.I.T. and those individuals listed on Appendix C (the “M.I.T. Holders”), XXXXXXX and XXXX, in the amounts specified in Appendix C; provided, however, that each of M.I.T., XXXXXXX and GIST and each M.I.T. Holder (collectively, the “Shareholders” and individually, each a “Shareholder”), shall execute (I) an investment letter in a form mutually agreeable to M.I.T. and COMPANY; and (II) a First Amendment to Right of First Refusal and Co-Sale Agreement in the form attached hereto as Exhibit C (the “ROFR and Co-Sale Agreement”). Such issuance shall be recorded on the Stock Transfer Ledger of COMPANY on the EFFECTIVE DATE and the Shares shall be delivered to each Shareholder within thirty (30) days after the EFFECTIVE DATE. COMPANY agrees that the joinder agreement that binds XXXXXXX to the ROFR and Co-Sale Agreement shall provide that XXXXXXX shall not be bound by Section 7 (Co-Sale) thereof.
Initial Grant. Executive is hereby awarded an option to acquire 3,000,000 shares of the Company’s common stock or their equivalent, $0.001 par value, at the exercise price equal to the average of the closing prices of the shares for the ten (10) trading days prior to the Effective Date. The Effective Date shall be the date upon which this Executive Employment Agreement has been fully executed and delivered by both Executive and Company. The option shall vest as follows: 750,000 12/16/2022 12/16/2021 750,000 12/16/2023 12/16/2021 750,000 12/16/2024 12/16/2021 750,000 12/16/2025 12/16/2021
Initial Grant. Pursuant to the Amended and Restated NorthPoint ------------- Communications Group, Inc. 1999 Stock Option Plan (the "Option Plan"), Executive received a grant of stock options on June 29, 1999 (the "Initial Grant"). The Option Agreement between the Company and Executive Agreement that underlies the Initial Grant (the "Option Agreement") is attached hereto as Exhibit A. ---------
Initial Grant. Concurrent with the commencement of your employment with the Company, you will be granted multiple options to purchase shares of common stock of the Company (“Company Common Stock”) as follows, each under the terms and conditions of a Non-Qualified Stock Option Agreement (each an “Option”): * FMV = the price of a share of RKDA common stock at close of market on the date of grant, which will be the Effective Date; if FMV is greater than the listed strike price on the date of grant, such strike price shall be increased to reflect FMV. Each Option shall vest and become exercisable in accordance with the schedule below: · 25% of the shares subject to the Option will be fully vested and exercisable effective as of the first anniversary of the Effective Date (the “Initial Vesting Date”), subject to your continued service through the Initial Vesting Date, and; · 75% of the shares subject to the Option will vest and become exercisable in 36 equal monthly installments following the Initial Vesting Date, with the first such monthly vesting date taking place on September 30, 2017 and subsequent vesting dates on the last day of the next 35 months thereafter (with the last vesting date on August 31, 2020), subject to your continued service through the applicable vesting date.
Initial Grant. COMPANY shall issue to XXXXXXXXX a total of [***] shares of Common Stock of COMPANY, $0.001 par value per share, (the “Shares”) in the name of XXXXXXXXX, which shares represent the equivalent to [***] of the capitalization of COMPANY on a Fully-Diluted Basis (as defined below), after giving effect to the sale of [***] in COMPANY equity, subject to XXXXXXXXX and, to the extent XXXXXXXXX has transferred such Shares, any of its transferees (the “Xxxxxxxxx Holders”) entering into a representation letter in substantially the form attached hereto as Appendix C with respect to such issuance of shares to XXXXXXXXX and the Xxxxxxxxx Holders.
Initial Grant. Employer hereby grants to Employee 10,000 shares of Restricted Stock in accordance with the terms and conditions of Employer’s Long Term Incentive Plan and pursuant to the Restricted Stock Agreement attached hereto as Exhibit “A,” which is incorporated by reference as if set forth fully herein (the “Restricted Stock Agreement”). Such shares of Restricted Stock shall vest as follows: (i) forty percent (40%) of the shares (or units) shall vest on January 1, 2012; (ii) twenty percent (20%) of the shares (or units) shall vest on January 1, 2013; (iii) twenty percent (20%) of the shares (or units) shall vest on January 1, 2014; and (iv) twenty percent (20%) of the shares (or units) shall vest on January 1, 2015.
Initial Grant. On or prior to the Start Date, the Company hereby grants to the Executive an option/warrant (the "Initial Stock Option/Warrant") to purchase One Million (1,000,000) shares of the Common Stock at the purchase/exercise price of $1.75 per share. This Initial Stock Option/Warrant shall vest and be exercisable as follows: 1/3 of the shares vest and become exercisable as of the Start Date; 1/3 of the shares shall vest and become exercisable one year after the Start Date; and 1/3 of the shares shall vest and become exercisable two years after the Start Date. Notwithstanding the foregoing, the Initial Stock Option/Warrant shall vest and be fully exercisable upon a Change in Control and shall vest as otherwise provided herein upon termination of the Executive's employment.
Initial Grant. The Restricted Share Units shall vest on the first anniversary of the Grant Date (the “Vesting Date”), subject to the provisions of this Agreement, including those relating to the Awardee’s continued service on the Company’s Board of Directors (the “Board”).] [
