Management Option Plan Sample Clauses

Management Option Plan. As soon as reasonably possible following the Closing, the Company agrees to establish an option plan for the purpose of granting options to members of the Company’s management, including options to acquire 7,000 shares of Class A Common Stock to be granted to individuals designated by the Company’s Board of Directors following the Closing.
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Management Option Plan. The Company shall, within six (6) months of the Effective Date, implement a plan (the "Management Option Plan"), to grant to certain of its officers, share options to purchase a maximum aggregate number of Shares representing up to five percent (5%) of the outstanding Shares of the Company. The exercise price per Share of any such share options shall be equal to or higher than the Original Purchase Price. The terms and conditions of the Management Option Plan shall be determined by the Compensation and Employment Committee in accordance with Section 6.12.
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Management Option Plan. As soon as practicable after the Closing, Purchaser shall use its best efforts to effect and approve, including by submission of vote to its stockholders, a management option plan of 1,000,000 shares of Pace Common Stock (the “Management Option Plan”). In addition, the Company Stockholders shall receive options to purchase an aggregate of 250,000 shares of Pace Common Stock in the amounts set forth in Section 2.4(e) of the Company Disclosure Schedule, in exchange for the existing options, held by each of the Company Stockholders, to purchase shares of common stock of the Company, which shall be cancelled at Closing. The Company Stockholders shall incur no out-of-pocket expenses relating to the exercise of options under the Management Option Plan, other than the payment of their respective exercise price to the Purchaser.
Sample 1
Management Option Plan. The Board of Directors of the Company will have adopted the Management Option Plan in the form set forth on Exhibit G hereto, subject to the approval of the shareholders of the Company, and will have authorized, subject to the approval of the shareholders of the Company, (i) the reissuance of all existing options under the Management Option Plan and (ii) the issuance of new options as set forth in Exhibit H hereto.
Sample 1
Management Option Plan. Consistent with Section 9(i) of the Purchase Agreement, the Founders, the Lender and the Company had anticipated the establishment of a Management Option Plan for shares of Common Stock on a Fully Diluted Basis (the "Approved Plan"). The Approved Plan was to be used, in the discretion of the Board of Directors of the Company (by majority vote), for issuance of stock grants to management personnel (whether employees, consultants, management companies or otherwise) as an incentive to such individuals to perform services on behalf of the Company and its subsidiaries and affiliates. The Parties hereby acknowledge that in August, 1998, the Board of Directors of the Company authorized and approved a grant of stock options as to 90 shares of Common Stock of the Company to Stevx Xxxxxxxx, Xxesident of the Company, on the terms set forth on Exhibit C-1 hereto (the "Loglxxxx Xxxion Grant"). The Parties hereby ratify and approve the Loglxxxx Xxxion Grant. In addition, the Board of Directors of the Company hereby authorizes and approves grants of stock options for an aggregate of 600 additional shares of Common Stock of the Company (the "Additional Option Grant") to Kerrx Xxxxxx, Xxck Xxxxxxx, Xxucx Xxxx xxx Robexx Xxxxxxxx xx the terms set forth on Exhibits C-2, C-3, C-4 and C-5 hereto, as applicable, on the basis of a Company valuation of $10,000,000 as more fully described on such Exhibits (the Additional Option Grant, together with the Loglxxxx Xxxion Grant, are hereinafter referred to as the "Option Grants"). Further, the Company hereby covenants and agrees to promptly present to the Board of Directors of the Company, for review and approval (by a majority vote), a standard stock option plan which would encompass the Stock Grants and potential future stock grants thereunder.
Sample 1
Management Option Plan. Notwithstanding the foregoing or anything to the contrary herein, the provisions of Section 2 shall not apply to the issuance of options under a management option plan (the “Management Option Plan”), provided that: (i) the total Company equity available for issuance under the Management Option Plan will be a number of shares of Stock which shall not exceed 8% of the issued and outstanding shares of Stock of the Company on a fully diluted basis (i.e., assuming conversion rights of all then currently issued and outstanding shares of Stock and exercise of all then currently issued and outstanding options and warrants to purchase shares of Stock); and (ii) the option pool under the Management Option Plan shall not be increased without Acorn Energy’s written consent. Any options issued under the Management Option Plan shall vest in accordance with the terms of Section 6.2.
Sample 1
Management Option Plan. Notwithstanding the foregoing or anything to the contrary herein, the provisions of Sections 4 and 5 shall not apply to the issuance of options under a management option plan (the “Management Option Plan”), provided that: (i) the total Company equity available for issuance under the Management Option Plan will be 14,706 shares of Common Stock, equivalent to 12.5% ownership of the Company, on a fully diluted basis following Closing (as defined in the Purchase Agreement); (ii) the exercise price per share for any options issued under the Management Option Plan will be equal to or greater than the price per share paid by EnerTech under the Purchase Agreement; and (iii) the option pool under the Management Option Plan shall not be increased without EnerTech’s written consent.
Sample 1
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Related to Management Option Plan

  • Stock Option Plan The Executive shall be eligible to participate in the Company's Stock Option Plan in accordance with the terms and conditions thereof.

  • Share Option Plans Each share option granted by the Company under the Company’s share option plan was granted (i) in accordance with the terms of the Company’s share option plan and (ii) with an exercise price at least equal to the fair market value of the Ordinary Shares on the date such share option would be considered granted under GAAP and applicable law. No share option granted under the Company’s share option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, share options prior to, or otherwise knowingly coordinate the grant of share options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Equity Plan For purposes of this Agreement, “Equity Plan” means the CS Disco, Inc. 2021 Equity Incentive Plan, as amended from time to time, or any successor plan thereto.

  • Option Plan This Option is subject to certain additional terms and ----------- conditions set forth in the Plan pursuant to which this Option has been issued. Optionee acknowledges receipt of a copy of the Plan on file with the Secretary of the Company and, by acceptance hereof, agrees to and accepts this Option subject to the terms of the Plan. Except as otherwise defined herein, defined terms used in this Agreement shall have the meaning ascribed thereto in the Plan.

  • Incentive Plan During the Term, the Employee shall be eligible for incentive compensation in accordance with the Res-Care, Inc. Non-Equity Incentive Plan (the “Incentive Plan”). Shortly after the beginning of each calendar year, the Company’s Board of Directors will establish a target of earnings before taxes, interest, depreciation and amortization of the Company and its subsidiaries on a consolidated basis, determined in accordance with generally accepted accounting principles consistently applied (“EBITDA”), for such calendar year (the “Annual EBITDA Target”). In no event shall Employee earn any amount under the Incentive Plan for any calendar year during the Term unless the actual Company EBITDA for such calendar year equals or exceeds ninety percent (90%) of the Annual EBITDA Target for such calendar year. For all purposes of this Employment Agreement, in determining the actual EBITDA of the Company and its subsidiaries for each calendar year, the Executive Compensation Committee of the Board of Directors (the “Compensation Committee”) may make such good faith adjustments to EBITDA as it determines in its sole discretion are appropriate to reflect non-recurring or unusual items, including, without limitation, to give effect on a pro forma basis to any acquisition of stock or assets of other persons by the Company or a subsidiary thereof. The amount payable under the Incentive Plan to Employee for each full calendar year during the Term shall equal the Base Salary actually paid to the Employee for such calendar year multiplied by the sum of the Approved Professional Performance Percentage and the Approved Company Performance Percentage (as determined below) for such calendar year. The maximum percentage of the Approved Professional Performance Percentage for Employee shall be thirty percent (30%) and the maximum percentage of the Approved Company Performance Percentage shall be seventy percent (70%). The sum of the Approved Professional Performance Percentage and the Approved Company Performance Percentage for each calendar year shall be referred to herein as the “Incentive Percentage.” For each calendar year the maximum Incentive Percentage shall be one hundred percent (100%). (i) Not later than March 15 of each calendar year, the Compensation Committee shall establish the professional performance criteria for Employee for such calendar year to be used in calculating the Approved Professional Performance Percentage. The professional performance criteria for Employee for the calendar year 2011 are set forth on Exhibit A attached hereto. The Approved Professional Performance Percentage for each calendar year during the Term shall be equal to (A) thirty percent (30%) multiplied by (B) the ratio of the number of professional performance criteria satisfied by Employee for the calendar year to the total number of professional performance criteria for the calendar year. However, notwithstanding anything in this Employment Agreement to the contrary, the Approved Professional Performance Percentage shall be zero unless the actual Company EBITDA for the respective calendar year equals or exceeds ninety percent (90%) of the Annual EBITDA Target for such calendar year. (ii) If the Company and its subsidiaries meet or exceed the Annual EBITDA Target for a calendar year, the Approved Company Performance Percentage for such calendar year shall be seventy percent (70%). Notwithstanding anything in this Employment Agreement to the contrary, the Approved Company Performance Percentage shall be zero unless the actual Company EBITDA for the respective calendar year equals or exceeds the Annual EBITDA Target for such calendar year. After any target or percentage described in this paragraph (b) has been established by the Company’s Board of Directors or Compensation Committee, as applicable, for any calendar year, such target or percentage shall not be increased or decreased for such calendar year for purposes of this paragraph (b) or for purposes of paragraph (c) of this Section 3. Any annual incentive earned by the Employee under the Incentive Plan for any calendar year during the Term shall be paid by the Company in cash to the Employee in the year following the year for which it is earned, and not later than the later of (x) seventy-four (74) days after the end of the applicable calendar year or (y) the date of date of delivery to the Company of the audited consolidated financial statements of the Company and its subsidiaries for such calendar year, provided that Employee remains employed through December 31 of the year for which the incentive bonus is earned. Any amounts earned by the Employee under the Incentive Plan shall be hereinafter referred to as the “Incentive Bonus.”

  • Management Incentive Plan “Management Incentive Plan” shall mean the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Compensation Plan 1. Subject to any applicable regulation and the Company's/its contractor approval, the applicant shall choose a Compensation Plan on the Affiliate Participation Form. An Affiliate may not change the elected Compensation Plan. 2. The Company/its contractor may change an Affiliate's Compensation Plan, at any time and at its sole and absolute discretion, by sending such Affiliate a notice to such effect by e-mail. In the event Affiliate does not agree to such change, it shall notify the Company by return e-mail within three (3) days of receiving such notice from the Company, and the Agreement shall terminate immediately. In the event Affiliate does not notify the Company within three (3) days from the notice, it shall be deemed as an approval by the Affiliate to such change in the Compensation Plan. It is hereby clarified that Affiliate will continue to receive payment with respect to Traders identified by a Tracker ID prior to the date of any such change in the Compensation Plan, in accordance with the applicable Compensation Plan at the date such Traders registered to the Site(s).

  • Stock Incentive Plan Executive shall be eligible for awards under the Employer’s Stock Incentive Plan. The type, timing and size of awards will be at the discretion of the Board of Directors.

  • Management Plan The Management Plan is the description and definition of the phasing, sequencing and timing of the major Individual Project activities for design, construction procurement, construction and occupancy as described in the IPPA.

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