Initial Options. On or as soon as practicable following the Agreement Date, the Company shall grant Executive a nonqualified option to purchase 62,826 shares - 6 - of the Company's common stock pursuant to a Stock Option Award Agreement issued under the Company's 2004 Management Investment and Incentive Compensation Plan.
Initial Options. The Company shall grant to the Employee, subject to and effective as of the consummation of the IPO, options (the "Initial Options") to purchase at a price per share equal to the price per share in the IPO, 100,000 common shares of the Company (the "Common Shares"). Thirty three and one-thirds percent (33 1/3%) of the Initial Options shall become exercisable on the first anniversary of the IPO, 33 1/3% of the Initial Options shall become exercisable on the second anniversary of the IPO, and an additional 33 1/3% of the -2- 3 Initial Options shall become exercisable on the third anniversary thereof. The terms of the Initial Options shall be governed by the terms of the Company's Initial Stock Option Plan.
Initial Options. The Company shall grant to the Employee, subject to and effective as of the consummation of the IPO, options (the "Initial Options") to purchase at a price per share equal to the price per share in the IPO, three percent of the Company's ordinary shares issued in the IPO (the "Ordinary Shares"), but not to exceed an aggregate value of $12.0 million (valued at the IPO per share price). Thirty three and one-thirds percent (33 1/3%) of the Initial Options shall become exercisable after the first anniversary of the IPO, 33 1/3% of the Initial Options shall become exercisable after the second anniversary of the IPO, and an additional 33 1/3% of the Initial Options shall become exercisable after the third anniversary thereof. No Initial Option may be exercised after the earlier of (A) the date that is (i) ninety (90) days following the termination of the Employee's employment for any reason other than death, disability or Serious Cause (as defined in Section 11), or (ii) six (6) months after the termination of the Employee's employment by reason of death or disability or (iii) the date upon which the Employee's employment is terminated for Serious Cause; or (B) the tenth anniversary of the IPO date. The consideration for the Ordinary Shares purchased upon exercise of the Initial Options may be paid in cash or by any other method permitted by the terms of the Company's Initial Option Plan. The issuance of any Ordinary Shares pursuant to the Initial Options shall in all events be subject to all applicable securities laws and the Employee shall enter into any agreement reasonably requested by the Company in order to ensure that all such issuances are in full compliance therewith. The Employee shall not have any of the rights and privileges of a shareholder of the Company with respect to the Ordinary Shares issuable upon any exercise of Initial Options unless and until his name is entered into the register of members of the Company in respect of such Ordinary Shares. If there is any change in the number or nature of outstanding shares of the Company's capital stock by reason of a share dividend, recapitalization, merger, consolidation, scheme of arrangement, share split, combination or exchange, share repurchase or otherwise, which in any such case has a dilutive or anti-dilutive effect on the Ordinary Shares, the number of Ordinary Shares subject to each outstanding Initial Option, the exercise price thereof and/or other terms thereof shall be appropriately adjuste...
Initial Options. Executive shall, on the Effective Date, be granted stock options for zero (0) shares of the common stock of the Company (the "Initial Options") pursuant to an option agreement. The exercise price of the Initial Options will be $180 per share. The Initial Options are subject to the terms and conditions of the "Xxxxxx Healthcare, Inc. Amended and Restated Stock Incentive Plan" (the "Restated Option Plan").
Initial Options. (a) concurrently with the split-off of the Company and distribution of its shares to the public and subject to the limitation in (c) below, the Company hereby agrees to grant to the Employee options (the "Initial Options") to purchase 25,000 shares of the Company's common stock (the "Shares") at the price and subject to the following terms and conditions. The Initial Options shall vest as of the split-off date (the "Commencement Date").
(b) The exercise price per Share for the Initial Options shall be $16.00 per share.
(c) Regardless of the fact that the Initial Options are deemed to vest in the Executive on the Commencement Date, the Executive may exercise Initial Options only in the percentages and at the times set forth below: 0% prior to the second anniversary of the Commencement Date; 25% at any time after the second anniversary of the Commencement Date; 50% at any time after the third anniversary of the Commencement Date; 75% at any time after the fourth anniversary of the Commencement Date; 100% at any time after the fifth anniversary of the Commencement Date;
Initial Options. As of the Effective Date, the Company shall grant to Executive stock options to purchase an aggregate of 100,000 shares of common stock of the Company with an exercise price equal to the fair market value of the Company's stock on the Effective Date. The option will be for a term of seven (7) years and will vest immediately. To the maximum amount allowed by law, these options will be in the form an Incentive Stock Option Grant and the balance in Non-Qualified Options.
Initial Options. The Company shall grant to the Employee, subject to and effective as of the consummation of the IPO, options (the "Initial Options") to purchase at a price per share equal to the price per share in the IPO, a number of shares equal to two percent (2%) of the Company's common shares issued in the IPO, but not more than 727,272 common shares (the "Common Shares"). Thirty three and one-thirds percent (33 1/3%) of the Initial Options shall become exercisable on the first anniversary of the IPO, 33 1/3% of the Initial Options shall
Initial Options. Upon the date of this Agreement, the Company shall grant to Executive stock options to purchase 50,000 shares of Company common stock at an exercise price equal to $10 per share (the "Initial Options"). Subject to Executive's continued employment with the Company, such Initial Options will vest in equal installments on each of the first three anniversaries of the date of grant, and will become fully vested upon the occurrence of a Change in Control (as defined in the Company's 2002 Equity Incentive Plan (the "Plan")). Other terms and conditions of the Initial Options shall be as set forth herein, in the Plan and an option agreement between the Company and Executive.
Initial Options. On or promptly following the Effective Date, Executive shall be granted stock options to purchase 1,120,000 shares of Common Stock subject to, and in accordance with, the terms of an award agreement between the Company and Executive, substantially in the form attached hereto as Exhibit C with an exercise price as described in the following Paragraph 3(c)(ii)(C) (the “Initial Options”).
Initial Options. Effective on the date hereof, the Company shall grant to Executive options (the "INITIAL OPTIONS") to purchase two hundred fifty thousand (250,000) shares of common stock, par value $0.01 per share (the "COMMON STOCK") of the Company, pursuant to the Company's 2004 Stock Option Plan, as amended (the "PLAN"). The Initial Options:
(i) shall, to the maximum extent permitted under applicable law, qualify as "incentive stock options" within the meaning of Section 422 of the Internal Revenue Code;
(ii) be fully vested and immediately exercisable in full as of the date hereof;
(iii) have a per share exercise price equal to $2.25;
(iv) be subject to the terms and conditions set forth in the Plan and a stock option agreement to be entered into by the Company and Executive, simultaneously herewith (the "OPTION AGREEMENT"). Such grant of options pursuant to this Section 2.3.1 shall be fully vested and exercisable, subject to the terms of the Plan and the Option Agreement and acceleration pursuant to Section 3 hereof. The shares of Common Stock issuable upon exercise of the Initial Options are subject to an effective registration statement filed with the Securities and Exchange Commission (the "SEC").
