Performance-Based Stock Option Sample Clauses

Performance-Based Stock Option. As of the commencement of this agreement, and subject to the unanimous written consent (“Consent”) of the Board of Directors of the Company, Executive shall be granted a stock option (the “Performance-Based Stock Option”) to purchase a total of 350,000 shares of the Company’s common stock with a per share exercise price equal to the fair market value of the Company’s common stock as of the date of said Board’s Consent. The terms and conditions of the Performance-Based Stock Option shall be set forth in a schedule to be attached to the Option Agreement governing the Performance-Based Stock Option, conditioned upon Executive’s continued employment with the Company as of each vesting date. Except as specified otherwise herein, the Performance-Based Stock Option is in all respects subject to the terms, definitions and provisions of the Company’s standard form of the Option Agreement.
Sample 1
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Performance-Based Stock Option. The Performance-Based Stock Option, unless earlier terminated or forfeited, shall be eligible to vest as to 25% of the total number of Shares subject to the Performance-Based Stock Option on each of the first, second, third, and fourth anniversaries of the Date of Grant, subject to the Optionee remaining in continuous Employment on the applicable vesting date, and shall vest on each such date only if the Share Price target set forth below with respect to the relevant vesting date (each such target, the “Share Price Target”) is achieved, as follows:
Sample 1
Performance-Based Stock Option. If the Corporation institutes a performance based stock option program for its senior management in addition to the Corporation's existing Stock Option Plan, Executive shall be entitled to participate in such program on a basis commensurate with Executive's duties and compensation as compared to other employees of the Corporation. Any stock option program instituted by the Corporation shall be subject to modification by the Corporation at any time or from time to time without the consent of Executive, except that any modification that would adversely affect the options previously awarded to Executive shall not be made without the prior written consent of Executive. Nothing in the paragraph shall obligate the Corporation to institute a stock option program or award options to Executive; however, the Corporation and Executive currently contemplate that Executive shall be entitled to receive such options.
Sample 1
Performance-Based Stock Option. As of the Employment ------------------------------ Commencement Date, Executive shall be granted an additional stock option (the "Performance-Based Stock Option") to purchase a total of eight hundred twenty-four thousand (824,000) shares of Company common stock with a per share exercise price equal to the fair market value of the Company's common stock on the date of grant. The Performance-Based Stock Option shall be for a term of six (6) years (or shorter upon termination of employment relationship with the Company) and, subject to accelerated vesting provisions based on strategic, business and financial objectives as set forth in the Option Agreement governing the Performance-Based Stock Option, shall vest 100% on the date that is seven (7) days immediately prior to the six (6) year anniversary of the Employment Commencement Date, conditioned upon Executive's continued employment with the Company as of each vesting date. Except as specified otherwise herein, the Performance-Based Stock Option is in all respects subject to the terms, definitions and provisions of the Company's Option Agreement, which document is incorporated herein by reference and attached as Exhibit B.
Sample 1
Performance-Based Stock Option. As an inducement to employment, a stock option with a grant date fair value of $2,000,000 (the “Initial Option”). The per share exercise price of the Initial Option will be equal to the closing price of the Company’s common stock on the grant date. The Initial Option will have a term of five years. The Initial Option will permit net exercise such that the number of shares issued upon exercise may be reduced by a whole number of shares with a value equal to the aggregate exercise price. The Initial Option is subject to both the time-based vesting condition (the “Time Condition”) and the performance-based vesting conditions (the “Performance Conditions”) described in Section 3(b)(i) and (ii) below, both of which must be satisfied before the Initial Option will be deemed vested and exercisable.
Sample 1
Performance-Based Stock Option. The Company has previously granted you an incentive stock option (the “Performance Option”) to purchase 0.30% of the Company’s outstanding common stock, par value $0.001 per share (“Common Stock”) (the option is for 3,000 shares based on the Company having 1,000,000 shares of Common Stock outstanding). The Performance Option has an exercise price of $10.00 per share and vests in full on the fifth (5th) anniversary of the date of the grant, subject to accelerated vesting as follows:
Sample 1
Performance-Based Stock Option. Upon the execution of this Agreement by all parties hereto, the Company shall grant to the Employee an option to purchase one million five hundred thousand (1,500,000) shares of Common Stock (the "PERFORMANCE-BASED STOCK OPTION") at an exercise price of $0.26 per share. Subject to the pro rata vesting provisions described in this Section 6.4, the Performance-Based Stock Option shall fully vest upon the occurrence of any one of the following events: (i) the Company obtaining a financing in an amount equal to or greater than Ten Million Dollars (US $10,000,000.00) based upon a valuation of the Company that is equal to or greater than One Hundred Million Dollars (US $100,000,000.00), (ii) the closing price of the Common Stock is equal to or greater than Three Dollars (US $3.00) per share (as reported by Bloomberg L.P.) for a continuous period of thirty (30) business days, or (iii) a transaction in which (A) the Company and/or the shareholders of the Company sell, based on a valuation of the Company that is equal to or greater than One Hundred Million Dollars (US $100,000,000.00), to any person the beneficial ownership (determined under Rule 13d-3 of the regulations promulgated by the Securities and Exchange Commission under Section 13(d) of the Securities Exchange Act of 1934) of securities issued by the Company having fifty percent (50%) or more of the voting power of all securities issued by the Company, or (B) the Company merges or consolidates with or transfers substantially all of its assets to another person based on a valuation of the Company that is equal to or greater than One Hundred Million Dollars (US $100,000,000.00). In the event the Company obtains a financing in an amount equal to or greater than Ten Million Dollars (US $10,000,000.00) based on a valuation of the Company that is less than One Hundred Million Dollars (US $100,000,000.00), or the Company successfully consummates the type of transaction described in (ii)(A) or (ii)(B) above based on a valuation of the Company that is less than One Hundred Million Dollars (US $100,000,000.00), the Performance-Based Stock Option shall vest pro rata based on the valuation of the Company; PROVIDED, HOWEVER, no portion of the Performance-Based Stock Option shall vest in the event the Company obtains a financing or successfully consummates the type of transaction described in (ii)(A) or (ii)(B) above based on a valuation of the Company that is less than Fifty Million Dollars (US $50,000,000.00). The fo...
Sample 1
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Related to Performance-Based Stock Option

  • Stock Option Award Within the 60-day period following the Start Date, Executive will receive an award of stock options to purchase Common Stock (the “Options”). The terms and conditions of the Options will be governed by Parent’s 2010 Equity Incentive Plan and the Stock Option Agreement in substantially the form attached hereto as Exhibit A. The number of shares covered by such Options shall equal 10,000. The Options shall have a per share exercise price equal to the fair market value per share of such Option on the date of grant, as determined by the Board.

  • Performance-Based Compensation During the Period of Employment and assuming Executive remains continuously employed by the Company through the end of the relevant fiscal year, Executive shall also be entitled to participate in an annual performance-based cash bonus program as set forth in Exhibit B.

  • Stock Option Awards During the Term, the Executive shall be eligible for awards of options to purchase shares of the Company’s common stock (the “Stock Options”), such Stock Options to be awarded in the sole discretion of the Compensation Committee and in accordance with the terms of the Company’s Stock Option Plan, as such Stock Option Plan may be amended, suspended or terminated from time to time.

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • Performance Based Bonus As additional compensation, the Executive shall be entitled to receive a performance based bonus, based on meeting revenue and cash flow objectives. The Executive shall be granted options ("Performance Options") to purchase an aggregate of 220,000 shares of Common Stock, subject to anti-dilution provisions relating to adjustments in the event that the Company, among other things, declares stock dividends, effects forward or reverse stock splits, at an exercise price of the fair market value of the date of the grant, and shall be exercisable for a period of four (4) years from the date of vesting unless sooner terminated, as described herein. The date of grant shall be the Effective Date of this Agreement. Up to one-half of these shares will be eligible for vesting on a quarterly basis and the rest annually, with the total grant allocated over a two-year period, starting with the quarter ended December 31, 2007. Vesting of the quarterly portion is subject to achievement of increased revenues over the prior quarter as well as positive and increased net cash flow per share (defined as cash provided by operating activities per the Company’s statement of cash flow, measured before changes in working capital components and not including investing or financing activities) for that quarter. Vesting of the annual portion is subject to meeting the above cash flow requirements on a year-over-year basis, plus a revenue growth rate of at least 30% for the fiscal year over the prior year, starting with the fiscal year ended September 30, 2008. In the event of quarter to quarter decreases in revenues and or cash flow, the Performance Options shall not vest for that quarter but the unvested quarterly Performance Options shall be added to the available Performance Options for the year, vested subject to achievement of the applicable annual goal. In the event this Agreement is not renewed or the Executive is terminated other than for Cause, the Executive shall be entitled to register the stock underlying the vested portion of the Performance Options provided hereunder on the terms and conditions set forth in a registration rights agreement to be mutually agreed upon by and between Executive and the Company. The Company shall file such Registration Statement as promptly as practicable and at its sole expense. The Company will use its reasonable best efforts through its officers, directors, auditors and counsel in all matters necessary or advisable to file and cause to become effective such Registration Statement as promptly as practicable. Company and Executive agree that this bonus program will continue after the initial two-year period, through the end of the Term, with the specific bonus parameters to be negotiated in good faith between the parties at least ninety (90) days before the expiration of the program then in place.

  • Stock Option Grants Executive will receive an annual grant of stock options during the term of this Agreement in a manner and under terms that are consistent with grants made to other executives of the Company.

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.2. Executive may exercise such options in accordance with the terms and conditions of the stock option plan and the agreement pursuant to which such options were granted.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Incentive Stock Options If the Shares are held for more than twelve (12) months after the date of the transfer of the Shares pursuant to the exercise of an ISO and are disposed of more than two (2) years after the Date of Grant, any gain realized on disposition of the Shares will be treated as long term capital gain for federal and California income tax purposes. If Shares purchased under an ISO are disposed of within the applicable one (1) year or two (2) year period, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the Fair Market Value of the Shares on the date of exercise over the Exercise Price.

  • 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.

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