New Grant Sample Clauses

New Grant. On the Effective Date, Company will grant Employee 75,000 restricted shares of Company common stock with respect to which restrictions will lapse pro rata over a three-year period beginning on the first anniversary of the Effective Date and under such other terms and conditions as provided in the agreement evidencing such award."
Sample 1
AutoNDA by SimpleDocs
New Grant. On the effective date of an initial public offering of Company common stock by the Company, Company will grant Employee 60,000 restricted shares of Company common stock with respect to which restrictions will lapse pro rata over a three-year period beginning on the first anniversary of such effective date and under such other terms and conditions as provided in the agreement evidencing such award.
Sample 1
New Grant. Subject to the conditions identified in Section 14(c) below and the vesting period identified in this subsection, the Company granted the Employee, on May 19, 1999, One Hundred Fifty Thousand (150,000) shares of the Company's common stock for a price of Eight Dollars and Twenty-Five Cents ($8.25) per share (collectively, the "New Stock Options"). The New Stock Options shall vest on a pro rata basis, with the Employee becoming entitled to exercise one-third (1/3) of each of the New Stock Options on May 19 of each of 1999, 2000 and 2001.
Sample 1
New Grant. Subject to the conditions identified in Section 14(c) below and the vesting period identified in this subsection, the Company grants the employee the following additional options to purchase common stock of the Company, at the following prices (collectively, the "New Stock Options"): Two Hundred Thousand (200,000) shares of the Company's common stock for a price of Five Dollars ($5.00) per share. The New Stock Options shall vest on a pro rata basis, with the Employee becoming entitled to exercise one-third (1/3) of each of the New Stock Options on January 1 of each of 1997, 1998 and 1999. The Employee may exercise the then vested portion(s) of the New Stock Options any time during the three (3) year period commencing on January 1, 1997 and continuing until and including December 31, 1999 (the "OPTION PERIOD"). The Employee may extend the Option Period until and including April 30, 2005 if and only if the average daily closing price for the Company's common stock for the entire month of December, 1999 is equal to or greater than Ten Dollars ($10.00) per share. Any such extension of the Option Period shall modify the definition of "Option Period" as defined in this Agreement.
Sample 1
New Grant. A g r a n t t h a t i s n o t a follow- o n g r a n t .
Sample 1
New Grant. The Company granted you an option to purchase one hundred sixty-eight thousand (168,000) shares of the Company’s Common Stock (the “First New Grant”) at a per share price of twenty cents ($0.20), which is the fair market value of the Common Stock Xxxxx Xxxxxxx March 4, 2004 as of March 4, 2004 as determined by the Board. The First New Grant is governed by the terms and conditions of the Plan and your stock option grant agreement, which includes a vesting schedule, contingent upon your continued employment as CEO, pursuant to which the First New Grant shares shall vest in twelve (12) equal monthly installments of fourteen thousand (14,000) shares each, the first such installment to vest as of January 31, 2005, and the remaining installments to vest on the last day of each full calendar month thereafter until the First New Grant is fully vested;
Sample 1
New Grant. The Company will recommend that the Board of Directors grant Executive an option to purchase 1,150,000 shares of the Company’s Common Stock (“Option”) with an exercise price equal to the fair market value on the date of the grant. These option shares will vest at the rate of 1/48th each month. Vesting will, of course, depend on Executive’s continued employment with the Company. The Option will be an incentive stock option to the maximum extent allowed by the tax code and will be subject to the terms of the Company’s 2000 Stock Option/Stock Issuance Plan and the Stock Option Agreement between Executive and the Company, which shall provide, among other conditions, that the post-termination exercise period for the vested portion of the Option shall be six (6) months from the date of termination.
Sample 1
AutoNDA by SimpleDocs
New Grant. A grant that is not a follow-on grant.
Sample 1
New Grant. As of the Effective Date, the Company shall grant to Employee a number of shares of restricted stock equal to $2,000,000 divided by the per share closing price on the Effective Date (rounded up to the next whole share), which will vest 25% on each anniversary of the Effective Date provided the Employee is employed on such date except as otherwise provided herein, and which will be in lieu of a discretionary annual grant of restricted stock for Fiscal Year 2011.
Sample 1

Related to New Grant

  • Initial Grant As soon as practicable after the effective date of this Agreement and subject to Board and all other required approvals, the Company shall grant to the Executive under the Company’s Amended and Restated 2003 Stock Incentive Plan (the “Plan”) a non-qualified stock option to purchase a number of shares of the common stock of the Company equal to 5.15% of the Company’s fully-diluted common stock (excluding the effects of any conversion of the (i) debt issued in connection with the Initial Financing, (ii) the investor convertible subordinated debt issued in January 2014 or (iii) any other convertible debt that is issued prior to the thirty-six (36) month anniversary of the Effective Date) with a per share exercise price equal to the fair market value of the Company’s common stock (as determined by the Board pursuant to the Plan) at the time of grant. The Initial Grant shall be granted pursuant to and governed by the terms of a stock option award agreement in a form provided by the Company at the time of grant; provided, however, that the form shall provide for cashless exercise of the option in an amount sufficient to satisfy the option exercise price. Provided the Executive remains continuously and actively employed with the Company through the applicable vesting date, the Initial Grant will be vested and exercisable with respect to (i) 10% of the underlying common stock as of the Effective Date, (ii) 25% of the underlying common stock on the first (1st) anniversary of the Effective Date, and (iii) the remaining shares of underlying common stock in substantially equal monthly installments over the 36-month period that commences on the first (1st) anniversary of the Effective Date. Notwithstanding the foregoing, the Initial Grant shall be fully vested and exercisable immediately prior to, but contingent upon, the occurrence of a Change in Control (as defined above), provided the Executive remains continuously and actively employed with the Company through the date of such Change in Control. Executive’s Initials & Date

  • Equity Grant Subject to approval by the Board and your execution of the Company’s standard form of Restricted Stock Agreement for executives (the “Restricted Stock Agreement”), you will be eligible to receive shares of the Company’s common stock under the Company’s 2017 Stock Option and Grant Plan (the “Plan”) equaling 15% of the Company’s outstanding common stock on a fully-diluted basis as of the grant date and after giving effect to the grant. If the Company closes Preferred Round on or prior to December 31, 2019 (and provided that you are still employed by the Company at the time of such closing), the Company shall issue you an additional award of restricted shares of Company common stock under the Plan in an amount such that, after giving effect to such additional issuance, you have been granted shares of common stock equal to 15% of the Company’s outstanding common stock on a fully-diluted basis upon closing of (and giving effect to) the Preferred Round. If the Preferred Round closes in multiple tranches (including tranches closed in the future, if initial closings of at least $3,000,000 occur by December, 2019), you will receive an additional award upon the closing of each tranche, in accordance with the foregoing. All shares of Company common stock granted to you shall be subject to repurchase and forfeiture as set forth in Restricted Stock Agreement, which shall provide that, subject to Section 6, the granted shares shall vest as follows: (i) 25% of the granted shares will vest on the three-month anniversary of the Commencement Date and (ii) thereafter, the remaining unvested shares will vest in equal quarterly installments over a three-year period, on the last day of each calendar quarter (i.e., March 31, June 30, September 30 and December 31), commencing on September 30, 2018; provided, that upon a Sale Event (as defined in the Plan) all your then-unvested shares (to the extent not previously forfeited) shall vest. For the avoidance of doubt, the Company and the Board have reviewed and understands and accepts your academic and work experience, as the same has been provided to the Company by you. Accordingly, and assuming the accuracy of your academic and work experience, the definition of “Cause”, as applicable to any termination of your employment by the Company (whether under the Plan, your Restricted Stock Agreement or otherwise) shall not include, and shall not be triggered by, the Company’s or the Board’s assertion or belief that you lack requisite experience for your position. In addition to the foregoing equity grant, you shall be eligible for additional grants of Company common stock or options to acquire Company common stock at such time and on such terms as determined by the Company’s board of directors. ​ You shall also receive pre-emptive rights permitting you to preserve your vested equity position in the Company in the event of any additional issuances of Company common stock (or securities convertible into common stock), at a per-share price equal to then current fair market value, as reasonably determined by the Board in good faith. ​

  • Grant of Stock Units Pursuant to the terms and conditions set forth in this Stock Award Agreement (including Section 1 above) and the Plan, the Administrator hereby grants to the Awardee named in Section 1, on the Grant Date set forth in Section 1, the number of Stock Units set forth in Section 1.

  • Grant Date The Grant Date of the Option hereby granted is .

  • Restricted Stock Grant As a member of Employer’s senior management team, Employee will be eligible for annual Restricted Stock Grants pursuant to Anaren’s 2004 Comprehensive Long Term Incentive Plan, as amended (“2004 Plan”) equal in value to 16% of his Base Salary for the respective year. Restrictive Stock Grants will be made annually at the same time other Restricted Stock Grants are made by Anaren to its senior management team, provided Employee is employed with Employer on that date. All Restricted Stock grants issued pursuant to this provision will be subject to the terms of the 2004 Plan, including, but not limited to, a thirty-six (36) month forfeiture provision. Notwithstanding anything to the contrary, in the event Employee concludes employment on or after the expiration of the Period of Employment, Employee shall be entitled if the forfeiture period has not otherwise lapsed only to a pro-rata portion of each unvested Restricted Stock Grant based on the number of months employed by Employer from the date of grant to the expiration of the Period of Employment. In the way of example, if Employee has been employed for 9 months of the 36 month forfeiture period at the end of his Period of Employment, he will receive 25% of the Restricted Shares granted. If Employee remains employed by Employer on a full time basis (30 hours or more per week) after the Period of Employment as an at-will employee, all previously issued restricted stock shall continue to vest in accordance with the terms of the 2004 Plan.

  • Stock Grant Subject to the terms of the Plan, a copy of which has been provided to the Employee and is incorporated herein by reference, the Company grants to the Employee _________ shares of the common stock of the Company, subject to the terms and conditions and restrictions set forth below. If at any time while this Agreement is in effect (or shares of common stock granted hereunder shall be or remain unvested while Employee’s employment continues and has not yet terminated or ceased for any reason), there shall be any increase or decrease in the number of issued and outstanding shares of the Company through the declaration of a stock dividend or through any recapitalization resulting in a stock split-up, combination or exchange of such shares, then the Committee shall make any adjustments it deems fair and appropriate (in view of such change) in the number of shares of common stock then subject to this Agreement. If any such adjustment shall result in a fractional share, such fraction shall be disregarded.

  • Equity Grants The Employee shall be granted as soon as practicable on or after the Effective Date, a stock option to purchase 734,900 shares of the Company’s common stock (the “Option”) (which option shall be issued as an incentive stock option to the maximum extent allowed under Section 422 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the “Code”)) pursuant to the Company’s 2011 Employee, Director and Consultant Equity Incentive Plan (the “Plan”). The Option shall be granted with an exercise price equal to the fair market value of the Company’s common stock on the date of grant. Twenty-Five percent (25%) of the Option shall be vested one year from the Effective Date and the remaining portion of such Option shall vest in equal monthly installments over a thirty-six (36) month period commencing on the first day of the month one year following the Effective Date, subject to continued employment by the Company. Notwithstanding the foregoing, in connection with a Change of Control (as defined in the Plan) or if a termination of the Employee occurs within two (2) months prior thereto, then the vesting of all equity then owned by the Employee shall accelerate with respect to one hundred percent (100%) of the unvested shares. In lieu of the Option at the request of the Employee, the Company shall issue restricted common stock. Restricted common stock will be issued at par value. If the equity to be issued is restricted common stock and not stock options, the number of shares of restricted common stock to be issued shall be calculated by determining the black scholes value of the grant as if it had been issued solely as stock options and dividing such number by the then current fair market value of the Company’s common stock so as to provide no additional benefit to the Employee for the non-payment of the exercise price. The Employee acknowledges and agrees that effective as of the date of the grant of the equity as set forth in the preceding paragraph, option agreement No. SP-0040 granted by the Company to the Employee as of April 30, 2011 shall be terminated and of no further force and effect. The Company acknowledges that any other options previously granted to the Employee that vest based upon the Employee providing consulting services to the Company shall continue to vest upon its terms as long as the Employee is providing services as a director, consultant or employee of the Company and that the definition of “cause” applicable to all such option agreements shall be the definition set forth herein and not as set forth in the 2008 Stock Incentive Plan.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • NOTICE OF STOCK OPTION GRANT Name: Address:

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!