Option Issuance Sample Clauses

Option Issuance. On the Effective Date, the Company shall issue to Executive options to acquire 20,000,000 shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”) at various exercise prices, as set forth in and pursuant to the Option Agreement in the form as attached hereto as Exhibit A (the “Option Agreement”), which Options shall be subject to vesting and forfeiture as set forth herein and in the Option Agreement (the “Options”). The number of shares of Common Stock subject to the Options and the exercise price of the Options shall be subject to adjustment as set forth in the Option Agreement and shall survive the termination of this Agreement.
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Option Issuance. On the Effective Date, the Company shall issue to Executive options to acquire 90,000 shares of common stock, par value $0.0001 per share (the “Common Stock”) of the Company, pursuant to the Option Agreement as attached hereto as Exhibit A (the “Option Agreement”) pursuant to the Company’s 2017 Stock Incentive Plan (the “Plan”). 25% of the Options shall be vested upon issuance, with the balance to vest in equal monthly installments over the following 36 months, and shall be exercisable for a period of ten (10) years except as otherwise provided in the Option Agreement or the Plan, and subject to earlier vesting or forfeiture as set forth herein and in the Option Agreement.
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Option Issuance. Notwithstanding any other provision of this Agreement, prior to the Effective Time, the Company may issue stock options pursuant to its 1995 Stock Plan to the employees and exercisable for the number of Shares set forth on Schedule 6.11(d). No option shall be exercisable for Shares at a price that is less than the fair market value of the Shares (as defined in the 1995 Stock Plan) at the time of the authorization of the option. Notwithstanding any other provision of this Agreement, the Company may, prior to the Closing, amend the terms of any non-qualified stock option previously granted by the Company pursuant to the 1995 Stock Plan or the 1989 Stock Option Plan to Michxxx X. Xxxnenson, Todd X. Xxxxx, Xxnaxx X. Xxxxx xx Michxxx X. Xxxxxxxx xx provide that such option will not terminate until the earlier of (a) the expiration date of the term of such option or (b) 18 months after the termination of the optionee's consulting relationship or continuous status as an employee with the Company. Notwithstanding any other provisions of this Agreement, the Company may refund to all employees the amounts collected under the Stock Purchase Plan for the first offering period of 2000.
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Option Issuance. In consideration of your agreement to the reduction in your Base Salary provided for above, we will grant you an option ("Option") to acquire 5,000 shares of Directrix Common Stock in the form attached. The Option provides for an exercise price of $4.00 per share and the Option is fully vested.
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Option Issuance. Starting on the Effective Date, LBC shall issue the Executive stock options entitling the Executive to purchase up to 200,000 shares at an exercise price equal to $0.01 greater than the closing price of LBC’s shares on the Nasdaq Capital Market on the day of grant. The Options shall be exercisable for five years and shall be subject to a vesting schedule ending on December 31, 2026, pursuant to the terms and conditions of the stock award agreement to be entered into between LBC and the Executive.
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Option Issuance. At least five (5) days prior to the Closing Date, the Company shall deliver to the Buyer a list (the "Option List") of employees entitled to be issued stock options to the Buyer. On the Closing Date, the Buyer shall issue to those employees set forth on the Option List (as defined below) who remain as employees of the Company as of the Closing Date, stock options to purchase shares of the common stock of the Buyer. Such stock options will be issued pursuant to Buyer's existing employee stock option plan and will be subject to the terms of the plan, subject to the vesting provisions set forth herein. The aggregate number of stock options to be issued shall be equal to the quotient determined by dividing 50,000,000 by the sum of the Fair Market Value per share of MRV Common Stock minus the per share option exercise price of the stock options so granted. The Fair Market Value per share of MRV Common Stock shall equal the average of the closing sales price of the Company's Common Stock as quoted on the Nasdaq National Market for the ten (10) trading days immediately preceding the Closing Date. Each of the options set forth on the Option List shall vest over a four year period commencing on the Closing Date, 25% of such options vesting twelve (12) months after the Closing Date and 2.08333% of such options vesting at the end of each month commencing at the end of the thirteenth month after the Closing Date.
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Option Issuance. Culture shall issue to the Executive, annually, during October of this year and each October for each of the three (3) years following this year, options under the stock option plan to purchase two and one-half percent (2.5%) of the then outstanding stock of Culture, thus providing the Executive options to purchase 10% of the common stock of Culture. Subject to Section 2(e)(iv), the Executive shall have ten (10) years from the date of issuance of an option to exercise such option. The options granted to the Executive shall, to the greatest extent possible, be Incentive Stock Options (as defined in Section 422 of the Internal Revenue Code of 1986, as amended from time to time). If a grant of solely Incentive Stock Options would not equal an amount of stock equal to 2.5% of the outstanding stock of Culture, then additional non qualified stock options shall be issued to the Executive.
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Option Issuance. Parent shall, within 60 days after the Closing, grant to employees of the Company who continue as employees of the Surviving Entity or Parent, options to purchase shares of Parent Common Stock (“New Employee Stock Options”) pursuant to Parent’s existing stock option program (“Parent Stock Option Program”). The aggregate number of New Employee Stock Options to be issued hereunder shall be the number of shares that would result in such options having an aggregate value of $3,000,000, determined using the Black-Scholes option pricing formula and a single option award approach, with an assumed exercise price equal to the Average Parent Stock Price and such other valuation assumptions as Parent has applied to its outstanding stock options for Parent Common Stock in accordance with SFAS 123R. The New Employee Stock Options shall be granted in such individual amounts as Parent deems appropriate in its sole discretion and (i) shall have an exercise price equal to the fair value of Parent Common Stock on the date of grant, as determined in accordance with the Parent Stock Option Program, (ii) shall vest over four years (with one-fourth vesting one year after the date of grant and the balance vesting in equal monthly installments over the subsequent three years), and (iii) shall be on such other terms as generally applied by Parent under the Parent Stock Option Program.
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Related to Option Issuance

  • Exercise of Option The Over-allotment Option granted pursuant to Section 1.2.1 hereof may be exercised by the Representative as to all (at any time) or any part (from time to time) of the Option Units within 45 days after the Effective Date. The Underwriters will not be under any obligation to purchase any Option Units prior to the exercise of the Over-allotment Option. The Over-allotment Option granted hereby may be exercised by the giving of oral notice to the Company by the Representative, which must be confirmed in writing by overnight mail or facsimile transmission setting forth the number of Option Units to be purchased and the date and time for delivery of and payment for the Option Units (the "Option Closing Date"), which will not be later than five full business days after the date of the notice or such other time as shall be agreed upon by the Company and the Representative, at the offices of the Representative or at such other place as shall be agreed upon by the Company and the Representative. Upon exercise of the Over-allotment Option, the Company will become obligated to convey to the Underwriters, and, subject to the terms and conditions set forth herein, the Underwriters will become obligated to purchase, the number of Option Units specified in such notice.

  • Exercise of Options 4.1 No portion of the option granted hereunder may be exercised for a fraction of a share. The option granted hereunder shall be deemed to be exercised when written notice of such exercise has been given to the Corporation to the attention of the Secretary of the Corporation accompanied by full payment of the exercise price and by such other documents as the Board of Directors of the Corporation (the "Board") may reasonably request. Until the issuance (as evidenced by the appropriate entry on the books of the Corporation or of a duly authorized transfer agent of the Corporation) of the stock certificate evidencing such Option Shares, no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the Option Shares, notwithstanding the exercise of the Option. The Corporation shall issue (or cause to be issued) such stock certificate promptly upon exercise of any portion of the option granted hereunder. No adjustment will be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 5 hereof. Exercise of a portion of the option granted hereunder in any manner shall result in a decrease in the number of Option Shares which thereafter may be available by the number of Shares as to which the Option is exercised. 4.2 In the event of termination of an Optionee as an employee or consultant with the Corporation (but not in the event of an Optionee's change of status from employee to consultant or from consultant to employee), such Optionee may, but only within such period of time as is determined by the Board, of at least thirty (30) days (but in no event later than the Option Expiration Date), exercise the option granted hereunder to the extent that Optionee was entitled to exercise it under Section 2 hereof at the date of such termination, or to such greater extent as may be determined by the Board. If the Optionee does not exercise such option to the extent so entitled within the time specified herein, the option shall terminate. 4.3 In the event of termination of an Optionee's status as an employee or consultant as a result of the Optionee's "disability," as defined in Section 22(e)(3) of the Internal Revenue Code of 1986, as amended, the Optionee may exercise the option granted hereunder within twelve (12) months from the date of the Optionee's termination (but in no event shall the Optionee be entitled to exercise the option after the Option Expiration Date) to the extent that Optionee was entitled to exercise it under Section 2 on the date of termination. 4.4 In the event of the death of the Optionee, the option granted hereunder may be exercised at any time within twelve (12) months following the date of death (but in no event later may the option be exercised after the Option Expiration Date), by the Optionee's estate or by a person who acquired the right to exercise the Option by bequest or inheritance, but only to the extent that the Optionee was entitled to exercise the Option in accordance with Section 2 hereof on the date of death.

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