OPTIONS TO PURCHASE STOCK. Subject to the vesting conditions set forth below and the terms of the Plan, Executive shall be granted options to purchase Five Hundred Thousand (500,000) shares of the Company common stock. The exercise price for each share of common stock covered by the option shall be fifteen cents ($0.15), which is equal to or greater than the fair market value of the common stock on the Effective Date. The right to exercise the option shall vest as follows: options to purchase One Hundred Twenty-Five Thousand (125,000) shares shall vest and become immediately upon execution of this Agreement and the delivery of a stock option agreement under the Plan. The remaining options shall vest and become exercisable in equal three annual installments of One Hundred Twenty-Five Thousand (125,000) shares on the anniversary dates of the Effective Date, so long as Executive remains an employee on such vesting date. The options shall expire and become null and void if not exercised at the earlier of ten (10) years from the Effective Date or the earlier expiration dates provided below. If the Executive is terminated pursuant Section 8 of this Agreement, the Executive will have ninety (90) days to exercise the stock options that are vested unless otherwise agreed to by the Board of Directors. If the Executive is terminated pursuant Sections 9 or 10 of this Agreement, the Executive shall have five years from date of termination to exercise stock options that are vested. Unvested options shall immediately terminate and become null and void upon any termination of Executive's employment, except as provided below in Section 12.
OPTIONS TO PURCHASE STOCK. Subject to the vesting conditions set forth below, Executive shall be granted an option to purchase five hundred thousand (500,000) shares of the common stock of Dippy Foods, Inc., a Nevada corporation. Stock issued pursuant to the exercise of the option shall be restricted stock, although Company reserves the right, in its discretion, to register the stock and to thereafter issue registered stock. The exercise price for each share of common stock covered by the option shall be fifteen cents ($0.15), the fair market value on the Effective Date. The right to exercise the option shall vest in equal increments of one hundred thousand (100,000) shares, beginning on the Effective Date and continuing for a period of four (4) years. The option shall expire ten (10) years from the Effective Date.
OPTIONS TO PURCHASE STOCK. Xxxxxxx, with respect to his 1,200,000 shares of IO, will provide IO and/or its assignee options for the purchase of up to 75% of such shares, and any shares related and/or arising therefrom by stock split or stock dividend or otherwise, (900,000) in the manner and at the times set forth on the schedule attached hereto. The first option, the exercise of which is irrevocably committed, is for 400,000 shares at $.50 per share for a total option payment of $200,000. Subsequent options will be for 100,000 shares each at $.50 per share and shall be exercised by the payment of cash into escrow, as prescribed hereafter, on or before the exercise dates set forth in the attached schedule. IO and/or its assignee may exercise/purchase all or a portion of the shares covered by each subsequent option. In the event any such subsequent option is not exercised or not completely exercised by purchase of all shares covered by this option on or before its appointed date, then the option, to the extent shares remain that were not purchased, shall be deemed to have expired, and the remaining shares represented by such option shall be immediately returned to Xxxxxxx. The total value of the options is $450,000, including the initial committed option payment of $200,000.
OPTIONS TO PURCHASE STOCK. Under the Plan, there is available an aggregate of not more than 900,000 shares of Stock (subject to adjustment as provided in Section 15) for sale pursuant to the exercise of options ("Options") granted under the Plan to employees of the Company ("Employees") who meet the eligibility requirements set forth in Section 3 hereof ("Eligible Employees"). The Stock to be delivered upon exercise of Options under the Plan may be either shares of authorized but unissued Stock or previously issued shares acquired by the Company and held in treasury, as the Board of Directors may determine.
OPTIONS TO PURCHASE STOCK. Employee shall be granted, on the date hereof, options to purchase 200,000 Shares with an exercise price equal to the closing price of the Shares on the date hereof. Employee shall be granted, on August 2, 1999, options to purchase an additional 200,000 Shares with an exercise price equal to the greater of (1) the closing price of the Shares on the grant date (August 2, 1999) or (2) the closing price of the Shares on the date of this Agreement plus twenty percent (20%). Of the options granted pursuant to this Section 3.4, twenty percent (20%) shall vest, on a cumulative basis, on each anniversary of each respective grant and all such options that shall have vested shall be exercisable for a period of 10 years from the date of grant. Except as the terms of such options as set forth in this Section 3.4 may be inconsistent therewith, the terms and conditions applicable to the options to be granted pursuant to this Section 3.4 shall otherwise be those contained in the Shoney's, Inc. 1981 Stock Option Plan, as amended, the terms and conditions of which are incorporated herein by this reference.
OPTIONS TO PURCHASE STOCK. (a) For each day of consulting services provided by Consultant pursuant to Section 1(c) in excess of the twelve days of consulting services to be provided each year, Consultant shall receive an option to purchase 1,000 shares of common stock (as adjusted to reflect any stock split, combination or other reclassification) with an exercise per share equal to the then fair market value of such common stock (as determined by the Board) and upon such other terms and conditions as are contained in the Company's standard stock option agreement.
(b) As additional consideration for the services to be provided by Consultant pursuant to this Agreement, Consultant shall have the option to purchase up to 100,000 shares of the series of preferred stock issued in connection with the Company's next round of equity financing with institutional investors, at a price per share of $3.40. Such purchase shall be on substantially the same terms and conditions as those provided generally to such investors. Such option shall expire and be of no further force and effect on December 1, 1995.
OPTIONS TO PURCHASE STOCK. Employee shall be granted, on the date hereof, the following options to purchase an aggregate of 1,000,000 Shares at the indicated exercise prices per share:
OPTIONS TO PURCHASE STOCK. Upon execution of this Agreement, Company grants Executive a fully-vested option to purchase one hundred thousand (100,000) shares of Company's common stock. Stock issued pursuant to the exercise of the option shall be restricted stock, although Company agrees to register the stock, once issued, on any registration statement it undertakes to file without the assistance of an underwriter or, if an offering is underwritten, then with the permission of the underwriter, in its sole and absolute discretion. The exercise price for each share of common stock covered by the option shall be the fair market value on the date this Agreement is executed. The option shall expire five (5) years from the date on which this Agreement is executed.
OPTIONS TO PURCHASE STOCK. Employer shall cause CREE to grant to Employee an option (the "Option") to purchase stock of CREE (the "Stock") pursuant to the "Second Amended and Restated 1995 Crescent Real Estate Equities Company Stock Incentive Plan" (the "Plan") and the form of option agreement presently in use by CREE for its corporate officers with the title of senior vice president (or a successor title for the group of officers having comparable responsibilities) (the "Option Agreement") as follows:
OPTIONS TO PURCHASE STOCK
