Initial Option Grant. As of the end of the day of the date this Agreement is signed by the Company and Employee, the Company shall grant Employee an option to purchase the number of shares described in Exhibit A of common stock of the Company under the Company's 1992 Stock Option Plan, as amended, having an exercise price per share equal to the fair market value (as defined in the Stock Option Plan) of a share of common stock of the Company. Except as otherwise provided in the Stock Option Plan, the option shall become exercisable as described in Exhibit A.
Initial Option Grant. The Board or the committee of the Board (the "Committee") appointed to administer the Company's stock incentive plan (the "Stock Incentive Plan") shall award the Executive, immediately prior to the initial sales offer with regard to the IPO, an option under the Stock Incentive Plan (the "Option") to purchase shares of the Company's common stock (the "Common Stock") equal to $80,000,000 divided by the exercise price. The exercise price shall be the price at which shares of Common Stock are initially offered to purchasers in the IPO. Subject to accelerated vesting as set forth in this Agreement, the Option shall vest (i) as to one-fifth of the shares of Common Stock subject to the Option on the earlier of (x) the date which is 18 months after the date of the grant or (y) the later of the Distribution or the first anniversary of the Effective Date and (ii) as to one-fifth of the shares of Common Stock subject to the Option on the second anniversary of the Effective Date and each anniversary thereafter (with the last tranche vesting on the day prior to the fifth anniversary of the Effective Date), conditioned upon Executive's continued employment with the Company as of each vesting date. The Option shall be for a term of 10 years and in the event of any termination of employment shall remain exercisable thereafter for two years after such termination, but in no event beyond the stated 10-year term. Notwithstanding any provision to the contrary in this Agreement or in any equity compensation, benefit or other plan or prospectus, there will be no accelerated vesting of the Option upon retirement, resignation or any other event, prior to the Distribution except as provided in (b) below. Following the Distribution, there will be no accelerated vesting of the Option upon the Executive's retirement prior to the third anniversary of the IPO, unless the Option is accelerated as provided in (b) below. Except as provided in this paragraph, the Option shall vest upon the Executive's "retirement" as such term is defined in the Stock Incentive Plan or individual grants thereunder. Vested shares of the Option shall remain exercisable for at least two years after such retirement, but in no event beyond the stated 10-year term. The agreement evidencing the Option shall reflect the provisions of this Section 5(a), including, without limitation, the vesting schedule set forth herein.
Initial Option Grant. On the date this Agreement is executed, the Committee shall grant Employee an option (the "Initial Option") to purchase 200,000 shares of Alamosa common stock pursuant to the LTIP. Four percent (4%) of the shares subject to the Initial Option shall become vested and exercisable each month following the date of grant (i.e., each monthly anniversary). The Initial Option shall also become immediately vested and exercisable if Employee's employment terminates pursuant to Section 9(d) below. The Initial Option shall be granted at a per share exercise price equal to the higher of (1) the closing stock price per share of Alamosa common stock on the New York Stock Exchange on the date of grant or (2) the average closing stock price per share of Alamosa common stock over the twenty trading days preceding the date of grant.
Initial Option Grant. In consideration of the undertakings by the Doctor and the LP herein, Diomed hereby grants to the LP an option (the "Initial Option") to purchase 30,000 shares of Diomed Common Stock at a purchase price of $2.25 per share under the 2001 Stock Option Plan adopted by Diomed (the "Plan"). The Initial Option shall be fully vested on issuance and exercisable for a period of two (2) years from the date of grant. The Initial Option will be non transferable and may only be exercised on the condition that the Doctor executes the Stockholder Agreement attached herewith as Exhibit C (as it may be amended from time to time). The Initial Option (and shares issued on exercise thereof) shall also be subject to all provisions of the Certificate of Incorporation and Bylaws of Diomed, or successor entity, as from time to time revised or amended or terms of any conversion of the options in connection with a merger or acquisition with another company so long as the holder is treated on a xxxx xxxxx basis.
Initial Option Grant. The granting of the Initial Options to the Executive shall be a material term of this AGREEMENT.
Initial Option Grant. On the Effective Date, Executive shall be awarded a stock option under the Plan to purchase 31,141 shares of Common Stock at an exercise price equal to the closing price of the Common Stock on the Effective Date Such option shall be exercisable for a 10-year period commencing on the Effective Date, and shall vest over a four-year period in 48 equal monthly installments on the first day of each month following the Effective Date.
Initial Option Grant. At the time Executive commenced employment with the Company, Executive was given an initial option grant ("Initial Options") to purchase 175,000 shares (which was thereafter adjusted for the stock split that occurred on September 7, 1999) of Gateway common stock pursuant to the terms of the 1996 Long-Term Equity Incentive Plan (the "1996 Plan") and the related stock option agreement.
Initial Option Grant. As soon as possible after the Effective Date, the Parent shall grant the Executive an option to purchase 750,000 shares of the Parent’s common stock (the “Stock”), with an exercise price equal to the fair market value of the Stock on the date of grant and vesting in three equal annual installments on December 31, 2006, 2007 and 2008, and, except as otherwise provided herein, having post-termination exercise periods and vesting provisions following termination of employment that are no less favorable than those provided to other senior executives of the Company (the “2005 Options”).
Initial Option Grant. As compensation for the services of Executive hereunder, the Company has previously granted to Executive a non-qualified stock option to purchase One Hundred Fifty Thousand (150,000) shares of the Company’s common stock (“Common Stock”), at an exercise price per share of $12.89. Executive hereby acknowledges receipt of such stock option on March 30, 2004. Such option grant is evidenced by a written option award agreement in the form attached hereto as Exhibit “A”.
Initial Option Grant. In connection with Executive’s commencement of employment with the Company, Executive was granted an option (the “Initial Option”) to purchase 110,000 shares of Common Stock of the Company pursuant to the Company’s 2014 Stock Plan (the “Plan”). The Initial Option was granted on August 11, 2015 with an exercise price per share of $25.08 and vests over a four year period measured from Executive’s Start Date, subject to full acceleration in the event the Company experiences a Change in Control, as further described in the Stock Incentive Award Agreement evidencing the Initial Option. At the Initial Public Offering of the Company’s Common Stock in February 2016, the Initial Option was split and revalued at 151,800 shares of Common Stock with an exercise price per share of $18.17.
