Performance Stock Options. Xxxxxxxxx has been granted 150,000 options to purchase World's Common Stock, par value $.001 per share ("World Airways Common Stock") pursuant to the 1995 World Airways Stock Option Plan (the "Plan") as set forth in the Stock Option Agreements between World and Xxxxxxxxx dated January 8, 2002, and June 1, 2002 (together, the "Options" and the "Option Agreements"). In the event of a Change in Control as defined below, all Options shall be immediately exercisable.
Performance Stock Options. Subject to the terms of the Company's Stock Incentive Plan and any applicable performance stock option agreement, all outstanding performance stock options will be fully exercisable.
Performance Stock Options. Xxxxxx has been granted (i) 100,000 options to purchase World's Common Stock, par value $.001 per share ("World Airways Common Stock") pursuant to the 1995 World Airways Stock Option Plan (the "Plan") as set forth in the Stock Option Agreement between World and Xxxxxx dated April 2, 1999 (the "Option Agreement No.1"), and (ii) 900,000 options to purchase World's Common Stock pursuant to the 1999 Chief Executive Stock Option Plan (the "CEO Plan") as set forth in the Stock Option Agreement between World and Xxxxxx dated April 2, 1999 (the two option grants together referred to as the "Options"). In the event of a Change in Control as defined below, all Options granted shall be immediately exercisable.
Performance Stock Options. (i) On July 14, 2006, the Employer granted to Xxxxxxxxx non-qualified stock options with a Deemed Value of $500,000 (the “Initial Options”), and no later than July 31 of each subsequent fiscal year during the term of this Agreement, beginning in July 2007, if the Parent Corporation’s TSR for the three years ending on the immediately preceding June 30 is sufficient to place Parent Corporation in at least the twenty-fifth (25th) percentile of Peer Banks ranked by TSR, the Employer granted or shall grant to Xxxxxxxxx stock options having the Deemed Value corresponding to the Parent Corporation’s TSR percentile for each fiscal year specified below: 2007 Below 25 $ 0 25 to below 50 250,000 50 to below 75 500,000 75 to below 90 750,000 90 and above 900,000 2008 Below 25 $ 0 25 to below 50 300,000 50 to below 75 600,000 75 to below 90 850,000 90 and above 1,000,000 2009 Below 25 $ 0 25 to below 50 350,000 50 to below 75 700,000 75 to below 90 950,000 90 and above 1,100,000 2010 Below 25 $ 0 25 to below 50 400,000 50 to below 75 800,000 75 to below 90 1,050,000 90 and above 1,200,000
Performance Stock Options. The Executive shall have the opportunity to be awarded three (3) annual incentive stock options, each such annual incentive stock option will be to purchase up to three hundred thousand (300,000) shares of common stock (the "Maximum Option Bonus") based on performance achievements in 2016, 2017 and 2018 as provided below:
(i) For 2016, the Board has approved an aggregate grant to the Executive of options to purchase up to three hundred thousand (300,000) shares, and will grant upon the mutual execution hereof a first option to the Executive to purchase one hundred thousand (100,000) shares of the above referenced three hundred thousand (300,000) shares at an exercise price equal to the price of the Company's publicly-traded shares on June 3, 2016, which shall vest immediately. In December 2016 the Compensation Committee will assess the achievement of the 2016 performance objectives that have been established and agreed upon between the Company and the Executive and then grant a second option to purchase up to two hundred thousand (200,000) shares or a portion thereof, which option shall be priced at an exercise price equal to the price of the Company's publicly-traded shares on the first business day of 2017, and shall vest on January 2, 2017.
(ii) On the first business day of each of 2018 and 2019, the Company shall grant the Executive an option to purchase up to three hundred thousand (300,000) shares based on the Compensation Committee's evaluation of the Executive's prior year performance objectives established and agreed upon by the Company and the Executive. In each case, the option shall be priced at an exercise price equal to the price of the Company's publicly traded shares on the first business day of each of 2018 and 2019, respectively, and shall vest on the grant date. Performance incentives for the time period running from January 2019 through May 2019 will be agreed to by the Board and the Executive. Should the Employment Period terminate at the end of the Initial Term for any other reason than Cause (as defined in Sec. 5(b)), performance stock option incentives for the time period January 2019 through May 2019 will be based solely on the Compensation Committee's evaluation of the Executive's performance during this period and will be awarded, priced and will vest on the first business day of 2019.
Performance Stock Options. Subject to the terms of any applicable performance stock option agreement, Executive's Beneficiary may exercise any outstanding performance stock options that are then vested and that would have been vested if the Executive had lived until the last day of the fiscal year during which he dies.
Performance Stock Options. Executive's entitlement to performance stock options shall be as provided in the Company's Stock Incentive Plan and any applicable performance stock option agreement.
Performance Stock Options. (i) On July 14, 2006, the Employer granted to Xxxxxxxxx non-qualified Stock Options with a Deemed Value of $500,000 (the “Initial Options”). No later than July 31 of 2011 and of each subsequent fiscal year during the term of this Agreement (including 2014, regardless of whether the grant of the Stock Options occurs following the expiration of this Agreement by its terms), if the Parent Corporation’s TSR for the three years ending on the immediately preceding June 30 is sufficient to place Parent Corporation in at least the twenty-fifth (25th) percentile of Peer Banks ranked by TSR, the Employer granted or shall grant to Xxxxxxxxx Stock Options having the Deemed Value corresponding to the Parent Corporation’s TSR percentile for each fiscal year specified below (it being understood and agreed upon that Performance Stock Options (which may be granted in the form of non-qualified stock options or stock appreciation rights, as determined by the Committee) relating to the three-year period ending June 30, 2010 shall be granted pursuant to the terms of the Prior Agreement): 2011, 2012, 2013, and 2014 Below 25 $ 0 25 to below 50 450,000 50 to below 75 900,000 75 to below 90 1,200,000 90 and above 1,350,000
Performance Stock Options. The Client hereby grants the Consultant five (5) year options to purchase 500,000 shares of Common Stock at $0.0001 per share. The options vest and are exercisable immediately. The Consultant or its assignees( Collectively know as the "Optionee" )may exercise the options in whole or in part from time to time. The Optionee, also, agrees to enter in to a two year lock-up commencing on the date of grant. The stock underlying the options shall be registered on the Company's first S-3 filing, S-8 filing, if applicable, or in the Form SB-2 filing or at another time pursuant to "piggy back" registration rights. An Option Certificate is attached.
Performance Stock Options. Addison has been granted 147,894.55 options to purchase World's Common Stock, par value $.001 per share ("World Airways Common Stock") pursuant to the 1995 World Airways Stock Option Plan (the "Plan") as set forth in the Stock Option Agreements between World and Addison dated May 31, 1995, December 23, 1997, March 29, 2000, October 30, 2000, and June 1, 2002 (together, the "Options" and the "Option Agreements"). In the event of a Change in Control as defined below, all Options shall be immediately exercisable.
