Option Bonus Sample Clauses

Option Bonus. In the event the Executive is entitled to benefits pursuant to Section 4 (a)(i), then, in addition to the benefits provided above, the Company shall also pay the Executive a cash bonus in an amount equal to the aggregate option exercise price attributable to the Executive's then outstanding Company stock options. Such bonus shall be paid in a lump sum within ten (10) business days after the Termination Date.
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Option Bonus. The Executive shall be entitled to receive an option to purchase not less than 25,000 shares of the Company's common stock, exercisable at the fair market price, for each month the Company has net income before income taxes and extraordinary items, as computed in accordance with GAAP (the "Bonus Options"). The Bonus Options shall vest during the remaining term of the Executives employment Agreement, and will expire not less than five (5) years from the date of grant.
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Option Bonus. Subject to the conditions and performance goals set forth below, the Company hereby grants, pursuant to the Plan, to the Executive on the Effective Date an incentive stock option to purchase up to 2,000,000 shares of the common stock of the Company at a strike price equal to the closing share price for the Company’s common stock as reported on the national exchange on which the Company’s share price is reported at the close of trading on the Effective Date, which shall become exercisable as follows: (a) executive’s option to purchase up to 666,667 shares of Company common stock shall vest and become exercisable upon the Effective Date; (b) Executive’s option to purchase up to 666,667 shares of Company common stock shall vest and become exercisable upon the first anniversary of the Effective Date, and (c) Executive’s option to purchase up to 666,666 shares of Company common stock shall vest and become exercisable upon the second anniversary of the Effective Date.
Sample 1
Option Bonus. In consideration of Employee's agreement not to compete as set forth in Section 4, Employee shall be granted options to purchase a total of 300,000 shares of Employer's unregistered and restricted common stock, exercisable for five years from the date of grant, subject to vesting during the Term of Employment. The first 60,000 options shall vest October 1, 2000, and the remaining options shall vest in equal increments over the subsequent four years during the Term of Employment. The exercise price of the first 60,000 options shall be $.15 per share. The exercise price of the remaining 240,000 options shall be equal to a 50% discount from the closing bid price of the common stock on the last trading date immediately preceding each vesting. In the event Employee no longer serves as an employee of Employer on a continuous basis through each vesting period, the unvested options shall terminate immediately upon the termination of Employee's Term of Employment.
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Option Bonus. In addition to salary, Employee is hereby granted an option ("Stock Option") to purchase 24,000 shares of the Company's Common Stock at an exercise price of $16.50 per share. The Stock Option shall be further defined in an option agreement to be entered into between the Employee and the Company, which shall contain anti-dilution provisions substantially similar to those other in option agreements for officers of the Company (but the failure to so enter into such an additional agreement shall not affect the binding nature of the Stock Option as of the date hereof). The Option shall be exercisable one-third on March 1, 1996, one-third on March 1, 1997 and one-third on March 1, 1998. Each installment of the Stock Option shall continue to be exercisable for five years after the first date such installment first becomes exercisable. Employee shall be entitled to participate in the Company's Management Bonus Program anticipated to be established by the Company with an initial targeted bonus of $20,000 (or, if higher, 16.7% of Employee's actual base compensation paid to Employee for the prior twelve months) (hereafter the "Management Bonus Program").
Sample 1
Option Bonus a. Employee shall receive a grant of Forty Thousand (40,000) incentive stock options under the Company’s 2008 Omnibus Incentive Plan for achievement of 100 points or more.
Sample 1
Option Bonus. In the event the Executive is entitled to benefits pursuant to Section 2 and Section 11, then, in addition to the benefits provided above, the Company shall also pay the Executive a cash bonus in an amount equal to the aggregate options exercise price attributable to the Executive's then outstanding Company stock options. Such bonus shall be paid in a lump sum within ten (10) business days after the Termination Date.
Sample 1
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Option Bonus. Subject to the conditions and performance goals set forth below, the Company hereby grants, pursuant to the Plan, to the Executive on the Effective Date a non-statutory option (the “Option Bonus”) to purchase up to 1,500,000 shares of the common stock of the Company at a strike price equal to the closing share price for the Company’s common stock as reported on the national exchange on which the Company’s share price is reported at the close of trading on the Effective Date (which is agreed to be $• per share on the Effective Date), which shall become exercisable as follows: (a) Executive’s option to purchase up to 333,334 shares of Company common stock shall vest and become exercisable upon the first anniversary of the Effective Date. (b) Executive’s option to purchase up to 333,333 shares of Company common stock shall vest and become exercisable upon the second anniversary of the Effective Date. (c) Executive’s option to purchase up to 333,333 shares of Company common stock shall vest and become exercisable upon the third anniversary of the Effective Date. (d) Executive’s option to purchase the other 500,000 shares of Company common stock shall become exercisable on the earliest date during the Service Period following which the Company's annualized gross production average for a consecutive 90-day period is equal to or exceeds 2,500 BOE per day, The Option Bonus shall be the subject of a separate award agreement, shall have a term of five years from the date the Option Bonus becomes exercisable, and shall provide for accelerated vesting and exercisability upon the occurrence of a Change in Control (as defined in the Plan) or as otherwise determined by the Board. The Option Bonus shall be granted under the Plan, provided that Executive’s option to purchase up to 750,000 shares of Company common stock shall be granted subject to receipt of the required stockholder approval of an increase in shares available for grant under the Plan. The Company shall use its reasonable best efforts to obtain such increase in shares available under the Plan, and shall use its reasonable best efforts to file a proxy statement to effectuate such increase by no later than June 1, 2014. In the event the Company has proposed such an increase to stockholders at least three times without obtaining the requisite approval, then upon the occurrence of a vesting event as set forth above (including the occurrence of a Change in Control, to the extent such Change in Control results in ...
Sample 1
Option Bonus a. Executive shall receive a grant of Forty Thousand (40,000) incentive stock options under the Company's 2008 Omnibus Incentive Plan for achievement of 32 RIO customer acceptance installations (stretch metric).
Sample 1

Related to Option Bonus

  • Retention Bonus (a) Subject to Sections 2(b), 2(c) and 2(d) below and your continued employment through the Determination Date (as defined below), you will be eligible to receive a Retention Bonus equal to the annual bonus you would have been eligible to receive under the Company’s Annual Incentive Plan based on the Company’s actual performance for 2023, as determined by the Compensation Committee of the Board of Directors (the “Committee”) following the completion of 2023, had you been a participant in the Annual Incentive Plan with a target bonus opportunity of up to 40% of your base salary (such amount as determined by the Committee, the “Retention Bonus”), which determination shall occur between January 1, 2024 and March 15, 2024 (the date of such determination, the “Determination Date”). The Retention Bonus, if any, will be paid in cash in a lump sum between January 1, 2025 and March 15, 2025. You will continue to be considered an employee of the Company for purposes of this letter agreement if you are on a Company- approved leave of absence. (b) In the event of a Change in Control during 2024, subject to your continued employment through the earlier of: (1) the Determination Date; or (2) the date of the Change in Control, you will be eligible to receive your Retention Bonus in cash in a lump sum within 10 days following the date of the Change in Control. (c) In the event of your Involuntary Termination (as defined in the Employment Agreement) on or after the Determination Date but on or prior to the date you have received the Retention Bonus, you will be eligible to receive your Retention Bonus in cash in a lump sum within 10 days following the effective date of your Release (as defined below). As a condition to your receipt of the Retention Bonus pursuant to this Section 2(c), you shall execute and not revoke a general release of all claims in favor of the Company and its affiliates (the “Release”) in the form attached to the Employment Agreement as Exhibit A. In the event the Release does not become effective within the 55-day period following the date of your Involuntary Termination, you shall not be entitled to the Retention Bonus. (d) If your employment terminates prior to the Determination Date for any reason, then this letter agreement will terminate, and you will forfeit any right you may have to receive the Retention Bonus.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Vacation Bonus Employees shall receive one day's base pay (or adjusted earnings) for each year of service beyond twenty-five (25) years, to a maximum of ten (10) days’ pay.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Retirement Bonus 22:01 Employees retiring in accordance with the following:‌ (a) Retire at age sixty-five (65) years; or (b) Retire after age sixty-five (65) years; or (c) Have completed at least ten (10) years continuous employment and retire after age fifty-five (55) years but before age sixty-five (65) years; (d) Employees who have completed at least ten (10) years continuous service with the Employer, whose age plus years of that service equal eighty (80); shall be granted retirement bonus on the basis of four (4) days per year of employment.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Retention Bonuses Provided Executive becomes and remains an active employee of Mercantile, Mercantile will pay Executive retention bonuses in accordance with the following schedule: (i) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following the Effective Time, (ii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following six (6) months of Executive’s employment with Mercantile, (iii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following twelve (12) months of Executive’s employment with Mercantile. After twelve (12) months of Executive’s employment with Mercantile, Executive will not be entitled to any further Severance or Retention benefits. The above-listed payments and benefits are in lieu of any and all payments and benefits to which Executive may otherwise have been entitled under the CIC Agreement or any other agreement or practice.

  • Salary, Bonus and Benefits For services rendered by the Employee on behalf of the Company during the Employment Term, the following salary, bonus and benefits shall be provided to the Employee by the Company: (a) The Company shall pay to the Employee, in equal installments, according to the Company’s then current practice for paying its executive officers in effect from time to time during the Employment Term, the Annual Base Salary. (b) The Employee shall participate in the Sealy Corporation Annual Bonus Plan (the “Bonus Plan”) in accordance with the provisions of that Plan as in effect as of the date of this Agreement based on the Target Annual Bonus Percentage. (c) The Employee shall be eligible for participation in such other benefit plans, including, but not limited to, the Company’s Profit Sharing Plan and Trust, Executive Severance Benefit Plan, Benefit Equalization Plan, Short-Term and Long Term Disability Plans, Group Term Life Insurance Plan, Medical Plan or PPO, Dental Plan, the 401(k) feature of the Profit Sharing Plan and the 1998 Stock Option Plan, as the Board may adopt from time to time and in which the Company’s executive officers are eligible to participate. Such participation shall be subject to the terms and conditions set forth in the applicable plan documents. As is more fully set forth in Section 6 hereof, the Employee shall not be entitled to duplicative payments under this Agreement and the Executive Severance Benefit Plan. (d) Without limiting the generality of Subsection 3(c) above, for so long as such coverage shall be available to the executive officers of the Company, the Employee shall be eligible to participate in the Company’s Group Term Life Insurance Plan with a death benefit to be provided at the level of one and one half (1 ½) times annual base salary at Company expense, plus extended coverage with a death benefit to be provided of at least the level in effect on the date of this Agreement for the Employee under such Plan at the Employee’s discretion and expense. (e) The Employee shall be entitled to take, during each calendar year period during the Employment Term, vacation time equal to four (4) weeks per year. (f) In addition, the Parties do hereby further confirm that any shares of Class A Common Stock of the Company (“Class A Shares”), and any options to purchase additional Class A Shares previously granted to Employee are in addition to, and not in lieu of, any shares or options which may be granted under any other plan or arrangement of the Company after the date of this Agreement, and (b) the various stock agreements and stock option agreements, and any related Stockholder Agreement (the “Stockholder Agreement”) between the Parties (such agreements being hereinafter referred to collectively as the “Pre-existing Agreements”), all remain in full force and effect except as otherwise provided herein. Notwithstanding the foregoing, to the extent that any provision contained herein is inconsistent with the terms of any of the Pre-existing Agreements, the terms of this Agreement shall be controlling.

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