Option Award. (i) In consideration of the commitment he will assume during the Employment Period, the Executive shall be granted an award (the "Option Award") of non-qualified options under the Enterprise Long-Term Incentive Plan ("LTIP") to purchase 250,000 shares of the Common Stock without nominal or par value of Enterprise ("Stock"). Options granted under the Option Award are herein referred to as "Options". The grant price of the Options shall be the closing price of xxx Xxxxxx Xxxxx xx the New York Stock Exchange on the Effective Date. The Executive's right to the Option Award shall vest and become exercisable in accordance with the following schedule, provided that the Executive has remained continuously employed by the Company during the Employment Period through the dates indicated below: Date Number of Shares ---- ---------------- October 17, 2001 50,000 October 17, 2002 50,000 October 17, 2003 50,000 October 17, 2004 50,000 October 17, 2005 50,000 If, during the Employment Period (1) there occurs a Change in Control, or (2) Enterprise enters into an agreement to merge or consolidate with any other corporation which, if consummated, would meet the requirements of Section 6(b) (iii) and the shareholders of Enterprise approve that agreement, the entire Option Award shall vest and become exercisable. If, during the Employment Period, the Company terminates the Executive's employment without Cause or the Executive terminates his employment for Good Reason, or the Executive's Employment terminates by reason of death or Disability, the Executive's right to the entire Option Award shall vest and become exercisable as of the Date of Termination. If, during the Employment Period, the Company terminates the Executive's employment for Cause or the Executive terminates his employment without Good Reason, including Retirement, the Executive shall forfeit all right to all shares of the Option Award that are not vested as of the Date of Termination.
(ii) The Options shall expire ten (10) years after the Effective Date.
(iii) Once Options become exercisable hereunder, the Executive may exercise such Options in any manner permitted by the LTIP. All vested options shall be exercised or shall be forfeited no later than the earlier of three years after termination of employment or 10 years after the Effective Date.
(iv) Unless specifically provided by this Agreement, all terms and conditions of the Options granted hereunder shall be governed by the LTIP.
(v) The Compensation Comm...
Option Award. The Company hereby awards Grantee an Option to purchase shares of Company common stock, par value $.01 per share (“Shares”), pursuant to this Agreement at an exercise price per Share of $XX.XX, subject to the terms and conditions set forth herein and in the Plan. The Option may not be exercised in whole or in part as of the Grant Date, and becomes exercisable only if and to the extent provided in the following paragraphs and otherwise subject to and in accordance with the Plan.
Option Award. As of the Effective Date, Executive shall be granted an option to purchase 2,488,889 shares of Company stock (the "Option Award") pursuant to a separate written Non Qualified Stock Option Agreement under the Company's 2006 Omnibus Stock Incentive Plan (the "Plan"). The Option Award shall be subject to the terms and conditions of that agreement and the Plan.
Option Award. As determined by the Board of Directors and the President & CEO, Executive is eligible to receive grants of options to purchase common stock of the Company under the Company's 1999 Stock Option Plan. In 2002, Executive will receive a grant of options to purchase up to 125,000 shares of the common stock of the Company under the Company's 1999 Stock Option Plan, at an exercise price of $.70 subject to the terms and conditions of the Stock Option Plan. Such options are intended to be classified as incentive stock options for tax purposes, and shall vest and expire and be subject to such other terms as provided on Exhibit C attached hereto. The terms of the stock option grant are set forth in a Stock Option Agreement in the form used pursuant to such Plan and attached to this Agreement.
Option Award. The Board or any committee of the Board (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as of the Effective Date, options to purchase Thirty Thousand (30,000) shares of the Company’s common stock, $0.001 par value per share, having an exercise price of equal to the fair market value of one share of the Company’s common stock as of the Effective Date as determined by the Board or Committee at the earliest practicable time, which options shall be subject to certain restrictions (the “Options Award”). The Options Award shall vest in four (4) equal amounts on each successive anniversary of the Effective Date, provided that Executive is employed by the Company on each vesting date. The Options Award shall be granted pursuant to and shall be subject to all of the terms and conditions imposed upon such awards granted under the Stock Plan and shall be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee. As a condition to receiving the Options Award, Executive acknowledges that the Option Award, together with shares issued thereunder are subject to the Stockholders Agreement dated May 2, 2005, as may be amended from time to time, to which Executive is a party by reason of a Joinder Agreement, and Executive further agrees to execute and deliver upon request a letter in a form approved by the Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stock.
Option Award. Subject to approval by the Board (or any authorized committee thereof), the Company shall grant Executive an option (the “Option”) to purchase 750,000 shares of the Company’s common stock, with an exercise price equal to the fair market value of a share of the Company’s common stock on the grant date, as determined by the Board (or any authorized committee thereof), pursuant to the terms and conditions of the Company’s 2021 Equity Incentive Plan (the “Plan”) and the applicable stock option grant notice and stock option agreement to be provided to Executive (together with the Plan, the “Equity Documents”); provided, however, and notwithstanding anything to the contrary in the Equity Documents, Section 5 and Section 6 of this Agreement, as applicable, shall apply in the event of a termination by the Company without Cause or by Executive for Good Reason (as such terms are defined below). Except as otherwise provided in this Agreement, the Option will vest subject to the terms and conditions of the Equity Documents, with 25% of the shares subject to the Option vesting upon the first anniversary of the Effective Date and the remaining 75% of the shares subject to the Option vesting over the subsequent 3-year period in substantially equal monthly installments at a rate of 1/48th of the total shares subject to the Option each month, subject to Executive’s continuous service to the Company as of each such vesting date.
Option Award. As of the date hereof, Employer shall grant to Executive an Option with respect to 400,000 shares of Common Stock with an exercise price equal to the closing price of the Common Stock on the NASD OTC Bulletin Board as of the trading day immediately prior to the date hereof (the "400,000 Option Award"). The 400,000 Option Award shall not be adjusted in terms of number of shares issuable upon exercise in the event of a reverse stock split of up to 1 for 30 effected within one year of the date hereof, but the exercise price will be adjusted. The Options shall vest and become exercisable when, as and after the date that the Company's market capitalization (the total number of outstanding shares of common stock and common stock equivalents, i.e., debt and preferred stock convertible into common stock, computed on an as converted basis, multiplied by the transaction price reported by a stock exchange, an automated quotation system such as the Nasdaq Stock Market or the OTC Bulletin Board, or a market maker) first equals or exceeds $25,000,000; and the Options shall have such other terms and conditions as set forth in the Stock Option Agreement attached hereto as Exhibit B.
Option Award. Subject to the terms and conditions set forth in this Agreement and the Plan, effective as of the Grant Date, the Company grants to the Participant an Option to purchase _______________ (____) Shares, provided that such Option shall be subject to the terms below. The Option shall be a Nonqualified Stock Option.
Option Award. Bond Street Holdings, LLC (“Holdings”) shall grant Executive of an option to purchase 300,000 shares of Holdings Class A Interests (the “Shares”), which option shall be subject to the provisions of Bond Street Holdings, LLC 2009 Option Plan, as it may be amended from time to time, and a stock option agreement. The option with respect to 1/3 of the underlying Shares shall vest on each of the first, second and third anniversaries of the option grant. The vested portion of the option shall not be exercisable prior to January 25, 2013.
Option Award. Subject to the approval of the Board of Directors, the Executive will be granted 40,000,000 Share Options (as defined in the OKYO Option Plan, which is defined below) as soon as reasonably practicable after the date of this Agreement or, if later, the Effective Date (the “Option Award”). The Option Award will be subject to the terms and conditions of the OKYO Unapproved Share Option Plan (the “OKYO Option Plan”) and that certain Option Award Agreement evidencing the grant of the Option Award (the “Option Award Agreement”), both of which documents are incorporated herein by reference. Executive should consult with Executive’s own tax advisor concerning the tax obligations associated with accepting an Option Award. The Share Option shall vest over 4 years in 4 equal tranches as set out in the schedule set forth in the Share Award Agreement, the vesting will be solely on time basis. The Company’s Remuneration Committee will write to you with the details of the grant and the arrangements relating to it.
