Performance-Based Stock Options. A stock options to purchase 50,000 shares of the Company’s common stock, with an exercise price equal to the closing price of the Company’s common stock on the date of grant, a ten year term, and that will vest and become exercisable upon the satisfaction of the performance conditions to be agreed by the Executive and the Company’s Board of Directors.
Performance-Based Stock Options. A stock options to purchase 250,000 shares of the Company’s common stock, with an exercise price equal to the closing price of the Company’s common stock on the date of grant, a ten year term, and that will vest and become exercisable upon the satisfaction of the performance conditions (which will provide for the opportunity to achieve vesting for all prior periods if the performance condition for an earlier year is not achieved) to be agreed by the Executive and the Company’s Board of Directors. In the event of a termination by the Company without Cause or by the Executive for Good Reason, such stock options shall (i) cease to be exercisable and shall cease to continue vesting, but shall not terminate, on the 90th day following the Effective Date of Termination, (ii) become again exercisable from and after consummation of any CIC that is consummated on or prior to the one year anniversary of the Effective Date of Termination and (iii) shall terminate if a CIC is not consummated on or prior to the one year anniversary of the Effective Date of Termination; provided, however, that this sentence shall not in any event extend such stock options beyond the tenth anniversary of the date of grant. In the event that any such performance condition is not met by the specified date for achieving such performance condition (if any), the portion of such stock option subject to such performance condition shall remain outstanding and shall vest (subject to the Executive’s continued employment by the Company) upon the earlier of (i) the fourth anniversary of the date of grant or (ii) a CIC.
Performance-Based Stock Options. The Company will grant the Executive four million (4,000,000) performance based stock options (the “Performance Stock Options”) entitling the Executive to purchase shares of common stock of the Company, on a cashless basis during the term of employment and as long as Executive is not fired for cause or he terminates employment for reasons of not good cause, (the “Performance Stock Option Shares”). The Executive shall be entitled to any additional annual stock option grants provided at the discretion of the Company’s Board of Directors. The specific terms and conditions of such Performance Stock Options shall be set forth in a separate written Performance Stock Option Agreement, with the principal terms being as follows:
3.5.1 The Performance Options shall vest as the Executive meets deadlines and or milestones for the completion of agreed upon deliverables with respect to the SearchHelp products (the “Deliverables”). The specific terms and conditions of the Deliverables, as mutually agreed upon, shall be set forth in detail in the Performance Stock Option Agreement, attached as Exhibit A When Executive achieves any two deliverables listed below, Executive shall vest 1,000,000 performance based options to purchase the Company’s common stock. Upon Executive achieving a third milestone below, an additional 1,500,000 performance based options shall vest, and upon achieving five milestones below, an additional 1,500,000 performance based options shall vest. It is agreed that any agreements signed during consultancy period shall count towards milestones below.
Performance-Based Stock Options. Subject to the terms of the Employment Agreement between Mr. Xxxx Xxx and CVTV and the approval of the Board, CVTV shall grant Mr. Xxxx Xxx stock incentive options to purchase no more than 500,000 shares of CVTV’s common stock each year during the Term of this Agreement pursuant to CVTV’s incentive stock option plan, so long as the Developer and Mr. Xxxx Xxx provide satisfactory services to CVTV and meet the Capacity Goal. Subject to the approval of the Board, CVTV shall grant two Designated Technicians selected by the Developer incentive stock options, each to purchase no more than 100,000 shares of CVTV’s common stock each year during the Term of this Agreement pursuant to CVTV’s incentive stock option plan, so long as the Developer provides satisfactory services to CVTV and meets the Capacity Goal.
Performance-Based Stock Options. A stock option to purchase 150,000 shares of the Company’s common stock, with an exercise price equal to the closing price of the Company’s common stock on the Promotion Date, a ten year term, and that will vest and become exercisable:
(1) as to the initial 37,500 shares when a share price for the common stock of the Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days;
(2) as to an additional 37,500 shares when a share price for the common stock of the Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days;
(3) as to an additional 37,500 shares when a share price for the common stock of the Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days; and
(4) as to an additional 37,500 shares when a share price for the common stock of the Company of $[***] or higher is achieved and maintained for any period of 30 consecutive calendar days. Executive and the Company agree that it is intended that each portion specified in Section 5.4(b)(1) through 5.4(b)(4) as allocable to a specified performance condition shall vest only once, however, previously unvested portions will be aggregated when and if a higher specified performance condition is achieved. In the event that any performance condition set out above in Section 5.4(b)(1) through 5.4(b)(4) is not met on or before the second anniversary of the Promotion Date then the portion of the stock option related to such performance condition shall lapse and no longer be outstanding.
Performance-Based Stock Options. The Board of Directors has approved an award to Executive, with such approval effective on the Effective Date, of an option to purchase 300,000 shares of the Common Stock of the Company (the “Performance-Based Options”). The Performance-Based Options will vest in three installments based on increases in the Company’s stock price as measured against the Company’s average stock closing price over the ten trading days between April 24, 2006 and May 5, 2006 (the “Base Price”):
1. 100,000 shares of the Performance-Based Options would vest if, within the first eighteen months following the Effective Date, the Company’s average stock price over a Thirty-Day Trading Period (defined as a consecutive thirty-day period that includes at least twenty trading days) equals or exceeds the greater of (i) thirteen dollars ($13) per share or (ii) a per share price that exceeds the Base Price by at least thirty-seven and one-half percent (37 1/2%) (the “First Installment”);
2. 100,000 shares of the Performance-Based Options would vest if, within the first thirty-six months following the Effective Date, the Company’s average stock price over a Thirty-Day Trading Period equals or exceeds the greater of (i) eighteen dollars ($18) per share or (ii) a per share price that exceeds the triggering price for the First Installment by at least thirty-seven and one-half percent (37 1/2%) (“the Second Installment”); and
3. 100,000 shares of the Performance-Based Options would vest if, within the first fifty-four months following the Effective Date, the Company’s average stock price over a Thirty-Day Trading Period equals or exceeds the greater of (i) twenty-four dollars ($24) per share or (ii) a per share price that exceeds the triggering price for the Second Installment by at least thirty-seven and one-half percent (37 1/2%) (the “Third Installment”). Any installment of Performance-Based Options that has not vested by the end of the specified period shall terminate. The price per share of any approved Performance-Based Options will be determined on the Effective Date. Executive’s entitlement to the Performance-Based Options is conditioned upon Executive’s signing of the Performance-Based Stock Option Agreement attached as Exhibit B to this Agreement and is subject to its terms and the terms of the Stock Option Plan under which the Performance-Based Options are granted, including vesting requirements.
Performance-Based Stock Options. The company is presently developing a senior management stock option plan. The purpose is to provide senior executives in the company with incentives through stock ownership. You will play an active role in establishing this program and once established, you will be immediately eligible. Your participation level in the stock option plan will be based on various factors, including salary, title, responsibility and tenure.
Performance-Based Stock Options. In addition to the Annual Bonus earned by the Executive in any year, the Executive shall also be entitled to stock options (the “Bonus Options”). The terms and conditions applicable to the Bonus Options are more fully set forth in Exhibit B hereof.
Performance-Based Stock Options. Subject to the Executive’s continued compliance with the terms of this Agreement, with respect to all of the Executive’s performance-based stock options granted prior to the Company’s initial public offering that remain outstanding and unvested as of the Separation Date, the Executive shall be deemed to have satisfied all continuous employment requirements through the applicable performance period, and such performance-based stock options shall remain eligible to vest if, and to the extent, the performance of the Company satisfies the applicable performance vesting requirements as of the end of the applicable performance period, as provided in the applicable governing documents, as in effect from time to time.
Performance-Based Stock Options. The Company shall grant a nonqualified stock option to the Executive substantially in the form of the nonqualified stock option award agreement attached hereto as Exhibit B, which generally provides that the Company shall grant Executive nonqualified stock options for 25,000 shares of common stock at an exercise price of Five Dollars ($5) per share. The options will vest, subject to Executive's continued employment with the Company, the terms of the Company's equity compensation plan and the award agreement evidencing the options at the following schedule: (i) 12,5000 shares will vest upon meeting certain performance achievements and milestones established by the Chief Executive Officer for the fiscal year ended June 30, 2000; and (ii) 12,5000 shares will vest upon meeting certain performance achievements and milestones established by the Chief Executive Officer for the fiscal year ended June 30, 2001.
