PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN Sample Clauses

PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Executive is a current participant in the Company's Employee Stock Option and Incentive Plan and has been granted options pursuant to the terms of individual option grants. Executive shall be considered for additional grants of options, stock appreciation rights, phantom stock rights, and any similar option or securities or equity compensation when and as such grants are considered for other executives or employees of the Company. 10.2 Executive agrees to grant the Company a right of first refusal for a 30-day period to purchase any shares of Common Stock owned by Executive offered to anyone other than the Company and agrees that the Company has the right to assign its rights to purchase Executive's shares pursuant to the terms hereof.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Initial Option Grant. Executive shall be granted an option to purchase 200,000 shares of Common Stock of the Company pursuant to the terms and conditions contained in the Company's Stock and Option and Incentive Award Plan, (the "Plan") at an exercise price equal to $1.00 per share. These options are in addition to any and all previous option grants to Employee by the Company.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. Executive shall be granted options to purchase 300,000 shares of Common Stock of the Company (the "OPTIONS"), The Options, which will be evidenced by Stock Option Agreements in the forms attached hereto as EXHIBIT "A," at an exercise price equal to the closing price of the Company's Common Stock on the American Stock Exchange as calculated on the 1st reporting day of June. These Options vest ratably over a three-year period on each anniversary of this Agreement, and shall be exercisable for a period of five years from each applicable vesting period during employment. Should a termination occur between the parties, then the Executive will have a three-month period to exercise any stock that has vested.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Executive shall be granted (i) options (the "$2.50 Options") to purchase 400,000 shares of Common Stock of the Company pursuant to the terms and conditions contained in the Company's Stock and Option and Incentive Award Plan, (the "Plan") at an exercise price equal to $2.50 per share; and (ii) options (the "$5.00 Options") to purchase 400,000 shares of Common Stock of the Company pursuant to the terms and conditions contained in the Plan at an exercise price equal to $5.00 per share. The $2.50 Options and the $5.00 Options shall vest ratably over a four-year period on each anniversary of the Effective Date. 10.2 Executive shall be granted options (the "Additional Options") to purchase such number of shares of Common Stock of the Company that equals 1% of the number of shares of Common Stock issued by the Company during the term of this Agreement pursuant to capital-raising, merger, or acquisition activities of the Company pursuant to which the Company issues any equity securities, other than the Company's current placement of shares of Common Stock at $3.25 per share. Additional Options will be granted pursuant to the terms and conditions contained in the Plan at an exercise price equal to the price of the shares of Common Stock issued by the Company in any such transaction. The Additional Options shall be granted as of the closing of any such transaction, shall vest 18 months from the date of grant, and shall expire 48 months from the date of grant. 10.3 Executive shall be considered for additional grants of options, stock appreciation rights, phantom stock rights, and any similar option or securities or equity compensation when and as such grants are considered for other executives or employees of the Company. 10.4 In the event of termination of Executive's employment pursuant to a change in control, Executive shall be entitled to exercise all of the $2.50 Options, $5.00 Options, and any Additional Options that have been granted. In the event of termination of Executive's employment pursuant to Section 4.4, the $2.50 Options, $5.00 Options, and any Additional Options that have been granted but have not yet vested in accordance with their terms shall vest as follows:
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Executive shall receive additional grants of options, stock appreciation rights, phantom stock rights, and any similar option or securities or equity compensation when and as such grants are considered for other executives or employees of the Company in an amount equal to 25% of the total number of options granted to all executives and employees in any calendar year during the term of this contract beginning in 2003. 10.2 If any conditions contained herein contradict the Plan then the terms of this Agreement shall supersede those of the Plan. 10.3 In the event of termination of Executive's employment pursuant to a Change of Control, Executive shall be entitled to exercise all vested options, and any additional options that have been granted. In the event of termination of Executive's employment pursuant to Section 4.4, any additional options that have been granted but have not yet vested in accordance with their terms shall immediately vest. 10.4 Within 120 days of the Effective Date the Company shall issue Executive 187,500 shares of Company common stock pursuant to a restricted stock plan in exchange for Executive surrendering all of Executive's rights, claims and interests in the following options to purchase Company common stock: 250,000 options priced at $3.00 per share, and 875,000 options priced at $2.00 per share.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Executive shall be granted an option (the "1998 Options") to purchase 50,000 shares of Common Stock of the Company (the "Option Shares") pursuant to the terms and conditions contained in the Company's 1996 Stock and Option and Incentive Award Plan, (the "Plan"). The exercise price for the Option Shares will be equal to $5.00 per share, and the options will vest ratably over three years on each anniversary of the Effective Date commencing on June 1, 1999. 10.2 Executive shall be considered for additional grants of options, stock appreciation rights, phantom stock rights, and any similar option or securities or equity compensation when and as such grants are considered for other executives or employees of the Company. 10.3 In the event of termination of Executive's employment as set forth in Section 3.4, the 1998 Options, any other option or equity-based incentives subsequently granted, or any deferred or incentive compensation programs shall immediately vest.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. The Company and Executive acknowledge that the Company previously agreed to grant Executive incentive stock options to purchase 350,000 shares of Common Stock of the Company at an exercise price of $.25 per share, all of which options are fully vested. In addition, in connection with this Agreement, Executive shall be granted incentive stock options to purchase 10,000 shares and a non-statutory stock option to purchase 590,000 shares of Common Stock of the Company at an exercise price of $1.21875 per share, 300,000 of which options shall vest on December 31, 2000 (including 10,000 incentive stock options and 290,000 non-statutory stock options) and 300,000 of which shall vest on December 31, 2001, such vesting to be conditioned upon Executive being employed with the Company on such vesting dates. In addition, if the closing price of the Company's Common Stock, as quoted on the Nasdaq Bulletin Board (or other Nasdaq stock market market or national stock exchange), is $7.00 or higher for 10 consecutive trading days, all of Executive's stock options shall be immediately vested. All of Executive's stock options referred to herein shall expire on December 31, 2009. The Company agrees to file a registration statement covering all of the stock options referred to herein on Form S-8 on or before April 30, 2000.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Initial Option Grant. Executive shall be granted 300,000 options to purchase 300,000 shares of Common Stock of the Company pursuant to the terms and conditions contained in the Company's Stock and Option and Incentive Award Plan, (the "Plan") at an exercise price equal to $3.00 per share as to 200,000 options and $3.15 per share as to the remaining 100,000 options. The vesting of these options shall be as follows: (1) 100,000 of the $3.00 options vest upon execution of this Agreement and (2) the remaining 200,000 options vest quarterly in eight (8) equal amounts. 10.1.1 Company represents that as of the Effective Date there are 26,405,000 shares issued and outstanding and that there are 3,300,000 options and warrants issued so that Executive's fully diluted equity ownership in the Company is 1.0099% (300,000/29,705,000 x 100%). If at any time it is determined that as of the Effective Date that the total of shares, options and warrants was greater than 29,705,000 then the Company shall immediately issue Executive additional options on the same terms as those issued in 10.1 above so that Executive's fully diluted equity ownership is restored to 1.0099%. 10.1.2 No shares, options, or warrants issued subsequent to the Effective Date (except for any options issued pursuant to 10.1.1 above) shall be used to recalculate Executive's fully diluted equity ownership. 10.1.3 Upon consummation of the FECC merger transaction as substantially described in the Agreement and Plan of Reorganization between First Ecom.com, Inc. and Gasco Energy, Ixx. xxxxd June15, 2001) the options granted in 10.1.1 shall be cancelled. Concurrent with consummation of the merger, Executive shall be granted 682,800 options to purchase 682,800 shares of common stock of the surviving company at a price of $1.25 per share. Half (341,400) of the options shall vest immediately and the remaining options shall vest at the rate of 85,350 (25%) per quarter of the succeeding year. 10.1.4 If any conditions contained herein contradict the Plan then the terms of this Agreement shall supersede those of the Plan. 10.2 Executive shall be considered for additional grants of options, stock appreciation rights, phantom stock rights, and any similar option or securities or equity compensation when and as such grants are considered for other executives or employees of the Company. 10.3 In the event of termination of Executive's employment pursuant to a Change of Control, Executive shall be entitled to exercis...
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Related to PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Equity Incentive Compensation Upon the Closing, each incentive award in respect of the common stock of Seller Parent (a “Seller Parent Equity Award”) held by a Transferred Employee shall become vested or eligible to vest (subject to the satisfaction of any applicable performance goals) in a prorated amount, determined based on the number of days in the applicable vesting period elapsed as of the Closing Date. Effective as of the Closing, Purchaser or its Affiliates shall grant to each Transferred Employee an equity- or cash-based incentive award (a “Make-Whole Award”) with a grant date fair value that is no less favorable than the value of the portion of the Seller Parent Equity Awards forfeited by the Transferred Employee in connection with the Closing (which forfeited amount shall be disclosed to Purchaser Parent no later than five (5) Business Days prior to the Closing), which Make-Whole Award shall have terms and conditions that are no less favorable than the terms and conditions (including vesting schedule and accelerated vesting terms) that were applicable to the corresponding Seller Parent Equity Award. In the event that the post-Closing transfer of a Delayed Transfer Employee results in a larger portion of the Seller Parent Equity Awards held by such Delayed Transfer Employee becoming vested upon such Delayed Transfer Employee’s transfer of employment than if the employment of such Delayed Transfer Employee had transferred upon the Closing, then the incremental cost of such additional vesting (which cost shall be measured based on the taxable income the Delayed Transfer Employee either realized or would have realized had such awards been settled or exercised upon such Delayed Transfer Employee’s transfer of employment to Purchaser or its Subsidiaries) shall be considered Purchaser Assumed Employee Liabilities.

  • Participation in Retirement and Employee Benefit Plans The Employee shall be entitled to participate in all plans relating to pension, thrift, profit-sharing, group life and disability insurance, medical and dental coverage, education, cash bonuses, and other retirement or employee benefits or combinations thereof, in which the Bank's executive officers participate.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Participation in Benefit Plans The Executive shall be eligible to participate in the employee benefit plans and programs maintained by the Company from time to time for its executives, or for its employees generally, including without limitation any life, medical, dental, accidental and disability insurance and profit sharing, pension, retirement, savings, stock option, incentive stock and deferred compensation plans, in accordance with the terms and conditions as in effect from time to time.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Reporting Subawards and Executive Compensation a. Reporting of first-tier subawards.

  • Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be thirty-five percent (35%) of his Base Salary. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

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