ISO Grants to 10 percent Stockholders. Notwithstanding anything to the contrary in this Section 7(a), if an ISO is granted to a Participant who owns stock representing more than ten percent of the voting power of all classes of stock of the Company, its “parent corporation” (as such term is defined in Section 424 (e) of the Code) or a Subsidiary, the term of the Option shall not exceed five years from the time of grant of such Option and the exercise price shall be at least 110 percent of the Fair Market Value (at the time of grant) of the Common Stock subject to the Option.
Appears in 5 contracts
Samples: Employment Agreement (Taylor & Martin Group Inc), Employment Agreement (Taylor & Martin Group Inc), Employment Agreement (Taylor & Martin Group Inc)
