Parent Option Plan Sample Clauses

The Parent Option Plan clause establishes the framework under which a parent company grants stock options to its employees, directors, or other eligible participants. Typically, this clause outlines the terms of option grants, including eligibility, vesting schedules, exercise price, and the process for exercising options. By clearly defining these parameters, the clause ensures that participants understand their rights and obligations regarding equity compensation, thereby incentivizing performance and aligning interests between the company and its stakeholders.
Parent Option Plan. At or prior to Closing, Parent shall adopt the Parent Option Plan providing for the issuance of up to an aggregate equal to fifteen percent (15%) of the shares of Parent Common Stock outstanding from time to time. Following the registration of the Parent Common Stock under the Exchange Act, Parent shall use commercially reasonable efforts to promptly file a registration statement on Form S-8 registering the shares of Parent Common Stock to be issued pursuant to the Parent Option Plan under the Securities Act.
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Parent Option Plan. (a) Attached hereto as Exhibit D is the Green Bancorp, Inc. 2006 Stock Option Plan (the “Parent Option Plan”) as in effect as of the date hereof. Parent covenants and agrees that it will not amend or modify in any manner whatsoever the terms of the Parent Option Plan prior to the Effective Time without the prior written consent of the Bank. (b) Immediately prior to the Effective Time, the Parent Option Plan will have that number of shares subject to it that represents the lesser of (i) 450,000 shares of common stock of Parent or (ii) 15% of the fully diluted outstanding shares of common stock of Parent (prior to the Effective Time). Not more than 135,000 shares of common stock of Parent will be unallocated at the Effective Time (including as a reserve for future hires).
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Parent Option Plan. At the Closing, Parent shall establish the Parent Option Plan funded with such number of shares of Parent Common Stock as is equal to ten percent (10%) of Parent’s issued and outstanding Parent Common Stock at Closing (after giving effect to the Merger but excluding the impact of any Parent Warrants, Parent Exchange Options, Parent Exchange Warrants, Company Convertible Notes assumed by Parent or shares of Parent Common Stock reserved for issuance upon exercise of such Parent Warrants, Parent Exchange Options, Parent Exchange Warrants or Company Convertible Notes assumed by Parent. Parent will reserve sufficient shares of Parent Common Stock for issuance thereunder and shall use its reasonable best efforts to include a proposal in the Proxy Statement/Prospectus pursuant to which Parent shall seek to obtain the approval of Parent’s stockholders of the Parent Option Plan. Parent shall file by the 90th day following the Closing, a registration statement on Form S-8 registering the exercise of any options granted pursuant to the Parent Option Plan (to the extent the exercise of such options is eligible to be registered using a Form S-8 registration statement). Following the Closing, Parent Board, upon a recommendation by the Compensation Committee of Parent, shall be responsible for the review and approval of all grants of awards under the Parent Option Plan and amount of stock covered thereby.
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Parent Option Plan. Parent shall have established the Parent Option Plan, which shall be in a form reasonably acceptable to the Parent and the Company.
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Parent Option Plan. Prior to or as of the Effective Time, the Board of Directors and shareholders of Parent shall adopt the Parent Option Plan reserving for issuance the number of shares of Common Stock contemplated by Section 1.8(a).
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Related to Parent Option Plan

  • Share Option Plans Each share option granted by the Company under the Company’s share option plan was granted (i) in accordance with the terms of the Company’s share option plan and (ii) with an exercise price at least equal to the fair market value of the Ordinary Shares on the date such share option would be considered granted under GAAP and applicable law. No share option granted under the Company’s share option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, share options prior to, or otherwise knowingly coordinate the grant of share options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Option Plans There is no share option plan or similar plan to acquire any additional shares or units or other equity interests, as the case may be, of IEM or securities convertible or exercisable into or exchangeable for, or which otherwise confer on the holder thereof any right to acquire, any such additional shares or units or equity interests, as the case may be.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Stock Option Plan The Executive shall be eligible to participate in the Company's Stock Option Plan in accordance with the terms and conditions thereof.

  • Company Option Plans At the Effective Time, all options (the "Company Options") then outstanding, whether or not vested and exercisable, under the Company's 1982 Stock Option Plan, 1992 Stock Option Plan, 1993 Stock Option Plan for Non-Employee Directors and the Company's Employee Stock Purchase Plan, in each case as in effect on the date hereof (collectively, the "Company Option Plans"), shall be assumed by Parent. Each Company Option assumed by Parent, other than Company Options issued pursuant to the Company's Employee Stock Purchase Plan, shall be subject to, and exercisable upon, the same terms and conditions as under the applicable Company Option Plan and the applicable option agreement issued thereunder, except that (a) each assumed Company Option shall be exercisable for, and represent the right to acquire, that number of shares of Parent Common Stock (rounded down to the nearest whole share) equal to (i) the number of shares of Company Common Stock subject to such Company Option immediately prior to the Effective Time multiplied by (ii) the Exchange Ratio; and (b) the option price per share of Parent Common Stock subject to each assumed Company Option shall be an amount equal to (i) the option price per share of Company Common Stock subject to such Company Option in effect immediately prior to the Effective Time divided by (ii) the Exchange Ratio (rounded up to the nearest whole cent). The Company represents and warrants that each of the foregoing actions may be taken and effected by the Company without the consent of any holder of Company Options. Each assumed purchase right under the Company's Employee Stock Purchase Plan shall continue to have, and be subject to, the terms and conditions set forth in the Company's Employee Stock Purchase Plan and the documents governing the assumed purchase right, except that the purchase price of such shares of Parent Common Stock for each respective purchase date under each assumed purchase right shall be the lower of (i) the quotient determined by dividing eighty-five percent (85%) of the fair market value of Company Common Stock on the offering date of each assumed offering period by the Exchange Ratio or (ii) eighty-five percent (85%) of the fair market value of the Parent Common Stock on each purchase date of each assumed offering period occurring after the Effective Time (with the number of shares rounded to the nearest whole share and the purchase price rounded to the nearest whole cent). The assumed purchase rights shall be exercised at such times following the Effective Time as set forth in the Company's Employee Stock Purchase Plan and each participant shall, accordingly, be issued shares of Parent Common Stock at such times pursuant to the Company's Employee Stock Purchase Plan. The Company's Employee Stock Purchase Plan shall terminate with the exercise of the last assumed purchase right, and no additional purchase rights shall be granted under the Company's Employee Stock Purchase Plan following the Effective Time. Parent agrees that from and after the Effective Time, employees of the Surviving Corporation may participate in Parent's employee stock purchase plan, subject to the terms and conditions of such plan. The adjustment provided herein with respect to Company Options shall be and is intended to be effected in a manner which is consistent with Section 424(a) of the Internal Revenue Code of 1986, as amended (the "Code"). The duration, vesting schedule, exercisability and other terms of each Company Option immediately after the Effective Time shall be the same as the corresponding terms in effect immediately before the Effective Time, except that all references to Company in the Company Option Plans (and the corresponding references in the option agreement documenting such option) shall be deemed to be references to Parent. Except as set forth in Section 3.2(d) of the Disclosure Schedule (as defined in Article III hereof), vesting of Company Options shall not be accelerated as a result of the Merger. Continuous employment with the Company or its Subsidiaries shall be credited to the optionee for purposes of determining the vesting of all assumed Company Options after the Effective Time. As soon as reasonably practicable, but in no event later than thirty (30) days after the Effective Time, Parent will issue to each holder of an assumed Company Option notice of the foregoing assumption by Parent. Parent shall file with the SEC, no later than thirty (30) business days after the Effective Time, a Registration Statement on Form S-8 relating to the shares of Parent Common Stock issuable with respect to the Company Options assumed by Parent in accordance with this Section 2.6.