Participation in Stock Option Plan. Consultant, as Chairman of the Board of Directors of the Company, is an officer of the Company and therefore shall be entitled to participate in the stock option plan for non-employee Directors, and receive stock options at the same time(s) as Directors receive stock options. As Chairman of the Board of Directors, Consultant shall be entitled to twice as many options per grant as other members of the Board, subject to the approval of the Board of Directors.
Participation in Stock Option Plan. Employee shall be entitled to participate in the Company stock option plan which is applicable to its managerial employees. On August 15, 1997, Em ployee shall be granted options to purchase 25,000 shares of Company common stock, which options shall vest and be exercisable on August 15, 1998 if Employee is then employed hereunder. Provided Em ployee continues to be employed hereunder, on August 15, 1998, Employee shall be granted options to purchase 50,000 shares of Company common stock, and provided Employee continues to be employed hereunder, 25,000 of such options shall vest and be exercisable on August 15, 1999 and the remaining 25,000 of such options shall vest and be exercisable on August 15, 2000. Any stock options granted to Employee pursuant to this paragraph (d) shall have an exercise price based upon the closing sale price of Company common stock as reported on the NASDAQ National Market System on the respective date of grant and the number of shares which are subject to such options shall be equitably adjusted for stock splits, stock dividends, recapitalizations and the like occurring after the date hereof.
Participation in Stock Option Plan. Subject to approval of the Company’s Compensation Committee and Board of Directors, as and for additional consideration for the execution of this Agreement as well as the services to be provided by Executive hereunder, the Company will grant Executive a stock option (“Option”) to purchase Three Hundred Thousand (300,000) shares of common stock at an exercise price of the closing price of the Company’s common stock on the Effective Date vesting equally on an annual basis (e.g. one hundred thousand shares per year) on each anniversary of the Effective Date or such shorter term as the Company’s Board of Directors may approve. In the event there is a change of control in the Company, the Option shall automatically vest in its entirety. For purposes of this subparagraph (c), a change of control shall occur in the event there is a change in the majority of the composition of the Board of Directors of Company as constituted on the Effective Date.
Participation in Stock Option Plan. Executive shall be granted a total of Five Hundred Thousand (500,000) options exercisable at fair market value (the “Options”) under the Company’s 2005 Incentive Plan (the “Plan”). The grant of Options to Executive will be subject to the terms and conditions of the Plan and the Company’s standard Stock Option Agreement, which will be executed by Executive and is attached hereto as Exhibit A.
Participation in Stock Option Plan. During the term of this Agreement, the Employee shall be eligible to participate in the 1996 Non-Qualified Stock Option Plan of Contour on the terms and subject to the conditions under which participation in such plan is made available to eligible employees of Contour and its subsidiaries.
Participation in Stock Option Plan. The Employee shall be entitled to be granted stock options, under the Company Stock Option Plan, of up to 5% of the outstanding shares issued (as set out in the said Plan) from time to time not to exceed 150,000 common shares.
Participation in Stock Option Plan. Executive shall be entitled to participate in the Company’s 2005 Incentive Plan (the “Plan”), pursuant to the terms and conditions of the Plan and the Company’s standard Stock Option Agreement to be signed by Executive. Executive will be granted options at fair market value to be determined by the Company’s Board of Directors at the time of grant and in an amount and with a vesting schedule in accordance with his title and role as well as in relation to what other key executives are receiving in the Company will be granted.
Participation in Stock Option Plan. Employee shall be entitled to participate in the Company stock option plan which is applicable to its managerial employees. Provided Employee continues to be employed hereunder, on the fourth (4th) Thursday of each February commencing in 1998, Employee shall be granted options to purchase 25,000 shares of Company common stock (with such maximum number of shares to be equitably adjusted for stock splits, stock dividends, recapitalizations and the like) for the preceding calendar year. Provided Employee shall continue to be employed hereunder, any stock options granted to Employee pursuant to this paragraph (d) shall vest and be exercisable immediately on the date of grant and such options shall have an exercise price based upon the closing sale price of Company common stock as reported on the NASDAQ National Market System on the respective date of grant.
Participation in Stock Option Plan. Employee shall be entitled to participate in the Company stock option plan which is applicable to its managerial employees. On August 15, 1998, Employee shall be granted options to purchase 37,500 shares of Company common stock (which amount reflects the adjustment for the 3-for-2 stock split declared by the Board on May 12, 1998), which options shall vest and be exercisable on August 15, 1999 if Employee is then employed hereunder. Provided Employee continues to be employed hereunder, on September 1, 1998, Employee shall be granted options to purchase 75,000 shares of Company common stock (which amount reflects the adjustment for the 3-for-2 stock split declared by the Board on May 12, 1998), and provided Employee continues to be employed hereunder, 37,500 of such options shall vest and be exercisable on September 1, 1999 and the remaining 37,500 of such options shall vest and be exercisable on September 1, 2000. Any stock options granted to Employee pursuant to this paragraph (d) shall have an exercise price based upon the closing sale price of Company common stock as reported on the NASDAQ National Market System on the respective date of grant and the number of shares which are subject to this paragraph (d) and such options shall be equitably adjusted for stock splits, stock dividends, recapitalizations and the like occurring after August 15, 1998.
Participation in Stock Option Plan. As inducement the Employee shall be granted an option (the "Option") to purchase 371,000 shares of the Company's Common Stock, par value $.001 per share ("Common Stock"), at an exercise price of $0.07 the fair market value of the Company's common stock on April 1st, 2003. The Option may be exercised, in whole or in part, after the signing of this Agreement. The Option shall expire seven (7) years from the date hereof (the "Expiration Date"), and must be exercised, if at all, in whole or in part, on or before the Expiration Date. The Option Agreement will be in substantially the form of Exhibit A attached hereto.
