Key Employee Options Clause Samples
The Key Employee Options clause defines the terms under which certain employees, typically those in critical roles, are granted the right to purchase company stock or equity. This clause outlines eligibility criteria, vesting schedules, and the conditions under which options may be exercised, such as continued employment or achievement of specific milestones. Its core function is to incentivize and retain key personnel by aligning their interests with the long-term success of the company, while also providing a structured framework for equity participation.
Key Employee Options. To the extent that each of ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇ -------------------- Kennewick, ▇▇▇▇ ▇▇▇▇ and ▇▇▇▇▇ ▇▇▇▇▇ are entitled to the payments set forth in the Retention and Bonus Agreements dated as of January 12, 2000 attached hereto as Schedule 2.8 (collectively, the "Sale Payment Agreements") pursuant to the ------------ terms of such Sale Payment Agreements immediately prior to the Effective Time, each such person will hold an option to purchase that number of shares of Company Common Stock equal to the greater of $400,000 or 28,750 shares of Parent Common Stock multiplied by the Average Closing Price less any applicable withholding taxes required to be paid in connection therewith (collectively, the "Key Employee Options"). At the Effective Time, any Key Employee Options outstanding shall be assumed by the Parent as set forth in Section 1.6(f) hereof.
Key Employee Options. (a) Parent shall reserve a number of shares of Parent’s common stock, par value $0.01 per share (the “Parent Common Stock”), equal to $1,000,000 divided by the fair market value of an option to purchase a share of Parent Common Stock calculated in accordance with the Black-Scholes Method (rounded down to the nearest share) for grants pursuant to this Section 8.2 under a Parent stock option plan for which shares of Parent Common Stock have been previously registered under the Securities Act of 1933 pursuant to an appropriate registration form (a “Parent Option Plan”) to Key Employees of the Company who are employed by the Surviving Corporation or Parent after the Effective Time. Such options shall be granted to Key Employees on the date that is 30 days after the Effective Date (or if such date is not a business day, the first business day after such date).
(b) Any option granted pursuant to this Section 8.2 shall have an exercise price equal to the fair market value of Parent Common Stock (as determined in accordance with the applicable Parent Option Plan) on the date of grant and be subject to such terms and conditions generally applicable to stock options granted by Parent except that any option granted pursuant to this Section 8.2 shall vest with respect to 50% of the shares subject to such option on the first anniversary of the Effective Date and shall vest with respect to 50% of the shares subject to such option on the second anniversary of the Effective Date.
Key Employee Options. The Purchaser shall grant to the Key Employees options to acquire an aggregate of up to 25,000 shares of Purchaser Common Stock pursuant to the Purchaser's Stock Option Plan.
Key Employee Options. During the Option Purchase Period, the Company will make an offer to purchase from each Key Employee Optionholder all of the Options held by him or her, on the same terms and conditions as the Options being sold by the Principal Optionholders at Closing, subject to the execution of an Option Purchase Agreement and Instrument of Accession by such Key Employee Optionholder. Among other things, the Option Purchase Agreement and Instrument of Accession will provide for the full vesting of the Key Employee Optionholder's Options, his or her appointment of the Representative as his or her representative, and his or her agreement to sell his or her Options to Buyer, subject to the terms and conditions of that Agreement. Any Key Employee Optionholder who does not sell his or her options to the Company and execute the Option Purchase Agreement and Instrument of Accession shall be referred to as a "Nonconsenting Optionholder."
Key Employee Options. As soon as practicable, X-ceed will adopt a new stock option plan and the employees of Zabit set forth on Exhibit H shall be entitled to participate in such stock option plan, on the same terms and conditions as X-ceed's key employees.
Key Employee Options. After the Closing, each of the Key Employees shall be entitled to participate in ATS's Stock Incentive Plan (as defined below), subject to applicable terms, conditions and qualifications established by or at the direction of the ATS Board (or a compensation committee thereof) from time to time. As a condition to receiving such option grants, each of the individuals identified therein shall have entered into customary agreements with ATS providing for such option grants, and containing customary terms and conditions and vesting schedules related thereto.