Option Grants Clause Samples

Option Grants. Unless provided otherwise by the Compensation Committee and set forth in the applicable award agreement, all options to purchase shares of the common stock of TurboChef (“TurboChef Stock”) that TurboChef grants to Executive shall vest over thirty six months in twelve equal quarterly installments of 8-1/3% on the calendar date of the grant in the third, sixth, ninth and twelfth months following the grant date and following each of the next two anniversaries of the grant date.

Option Grants. Executive shall be eligible to receive such stock options, if any, as the Board of Directors or Compensation Committee may specify, all on the terms and conditions more fully described in the option agreement(s) pursuant to which such grant(s) is made.

Option Grants. Aggregate number of shares of Common Stock for which the Time Option granted hereunder is exercisable (100% of number of shares):

Option Grants. Holdco expects that the Executive shall be granted additional stock option grants as set forth on the attached Schedule A, in connection with the initial public offering of its common stock in such amounts and on such terms and conditions as are determined by the Board or the Committee, with an exercise price anticipated to be equal to the offering price of a share of the Holdco’s common stock in connection with such initial public offering.

Option Grants. The Company shall, (i) effective as of the Effective Date, grant to the Executive an option (the "Initial Option") pursuant to the Company's 1996 Stock Option Plan or otherwise (the "Option Plan") to purchase up to one million (1,000,000) shares of the Company's common stock, par value $0.01 per share ("Common Stock") and (ii) effective as of September 26th, 2001, grant to the Executive an option (the "Additional Option" and, together and with the Initial Option, the "Options") pursuant to the Option Plan to purchase up to four hundred thousand (400,000) shares of Common Stock. The Initial Option and the Additional Option shall each be evidenced by an agreement containing such terms and conditions as the Board shall determine are necessary and desirable, consistent with the terms of the Option Plan; provided, however, that the Options shall (i) have a per share exercise price equal to the closing price of the Common Stock on the New York Stock Exchange ("NYSE") as of the Effective Date, with respect to the Initial Option and, as of September 26, 2001, with respect to the Additional Option; (ii) become cumulatively vested and exercisable with respect to twenty percent (20%) of the shares covered thereby on each of the first five anniversaries of the Effective Date; (iii) become fully vested and exercisable with respect to one-hundred percent (100%) of the shares covered thereby upon the occurrence of a Change in Control (as defined below); (iv) upon a termination of employment hereunder either (x) by the Company without Cause or (y) by the Executive for Good Reason (each as defined in Section 6(g)), become vested with respect to that number of shares that would have become vested in the normal course during the 36-month period following the Termination Date, absent such termination of employment (and without taking into account any subsequent Change in Control); and (v) notwithstanding the vesting and exercise period stated in such Options or the Option Plan, the Executive shall have not less than a period expiring seven months following the Termination Date to exercise such Options. For purposes of this Agreement, a Change in Control shall be deemed to have occurred upon the first of the following to occur: (A) any Person (within the meaning of Section 3(a)(9) of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), as modified and used in Sections 13(d) and 14(d) thereof), other than Joseph Littlejohn & Levy Fund II, L.P. (or ▇▇▇ ▇▇▇▇▇...

Option Grants. In the event that at any time the Company shall in any manner grant (directly, by assumption in a merger or otherwise) any rights to subscribe for or to purchase, or any options for the purchase of, Common Stock or any stock or securities convertible into or exchangeable for Common Stock (such rights or options being herein called "Options" and such convertible or exchangeable stock or securities being herein called "Convertible Securities"), whether or not such Options or the right to convert or exchange any such Convertible Securities are immediately exercisable, and the price per share for which Common Stock is issuable upon the exercise of such Options or upon conversion or exchange of such Convertible Securities (determined by dividing (i) the total amount, if any, received or receivable by the Company as consideration for the granting of such Options, plus the minimum aggregate amount of additional consideration payable to the Company upon the exercise of all such Options, plus, in the case of any such Options which relate to Convertible Securities, the minimum aggregate amount of additional consideration, if any, payable upon the issuance or sale of such Convertible Securities and upon the conversion or exchange thereof, by (ii) the total number of shares of Common Stock issuable upon the exercise of such Options or upon the conversion or exchange of all such Convertible Securities issuable upon the exercise of such Options) shall be less than the Purchase Price in effect immediately prior to the time of the granting of such Options (or less than the Conversion Price, determined as of the date of granting such Options, as the case may be), then the total number of shares of Common Stock issuable upon the exercise of such Options or upon conversion or exchange of the total amount of such Convertible Securities issuable upon the exercise of such Options shall (as of the date of granting such Options) be deemed to be outstanding and to have been issued for such price per share. Except as otherwise provided in subsection 5.5, no further adjustment of the Purchase Price shall be made upon the actual issuance of such Common Stock or of such Convertible Securities upon exercise of such Options or upon the actual issuance of such Common Stock upon conversion or exchange of such Convertible Securities.

Option Grants. As of the Effective Date, you acknowledge that you have been granted options to purchase 250,000 of Tempest’s common stock, vesting in accordance with the terms of the grant agreements therefor, and otherwise in accordance with this Agreement. The option grant is also subject to the terms of Tempest’s equity incentive arrangements, including its customary Incentive Stock Option (ISO) Grant Agreement.

Option Grants. Aggregate number of shares of Common Stock

Option Grants. The Company may establish an equity incentive plan (“Equity Incentive Plan”). The Executive’s eligibility for grants under the Equity Incentive Plan and the terms and conditions of such grants shall be determined by the Compensation Committee.