Common use of Qualified Stock Option Plan Clause in Contracts

Qualified Stock Option Plan. Pursuant to a Qualified Stock Option Plan authorized by the Board and approved by the Shareholders of Employer, Employee shall have the option to purchase up to 400,000 shares of the Employer's common shares on the following terms: up to 100,000 shares of Employer's stock in six months at $1.00 per share, up to 100,000 shares of Employer's stock in 12 months at $2.00 per share, up to 100,000 shares of Employer's stock in eighteen months at $3.00 per share and up to 100,000 shares of Employer's stock in twenty-four months at

Qualified Stock Option Plan. Pursuant to a Qualified Stock Option Plan authorized by the Board and approved by the Shareholders of Employer, Employee shall have the option to purchase up to 400,000 shares of the Employer's common shares on the following terms: up to 100,000 5,000 shares of Employer's stock in six months at $1.00 2.50 per share, up to 100,000 shares of Employer's stock in 12 months at $2.00 4.00 per share, up to 100,000 shares of Employer's stock in eighteen months at $3.00 6.00 per share and up to 100,000 shares of Employer's stock in twenty-four months atat $7.50 per share;

Qualified Stock Option Plan. Pursuant to a Qualified Stock Option Plan authorized by the Board and approved by the Shareholders of Employer, Employee shall have the option to purchase up to 400,000 shares of the Employer's common shares on the following terms: up to 100,000 60,000 shares of Employer's stock in six months at $1.00 2.50 per share, up to 100,000 shares of Employer's stock in 12 months at $2.00 4.00 per share, up to 100,000 shares of Employer's stock in eighteen months at $3.00 6.00 per share and up to 100,000 shares of Employer's stock in twenty-four months atat $7.50 per share;

Qualified Stock Option Plan. Pursuant to a Qualified Stock Option Plan authorized by the Board and approved by the Shareholders of Employer, Employee shall have the option to purchase up to 400,000 shares of the Employer's common shares on the following terms: up to 100,000 40,000 shares of Employer's stock in six months at $1.00 2.50 per share, up to 100,000 shares of Employer's stock in 12 months at $2.00 4.00 per share, up to 100,000 shares of Employer's stock in eighteen months at $3.00 6.00 per share and up to 100,000 shares of Employer's stock in twenty-four months atat $7.50 per share;

Qualified Stock Option Plan. Pursuant to a Qualified Stock Option Plan authorized by the Board and approved by the Shareholders of Employer, Employee shall have the option to purchase up to 400,000 shares of the Employer's common shares on the following terms: up to 100,000 shares of Employer's stock in six months at $1.00 per share, up to 100,000 shares of Employer's stock in 12 months at $2.00 per share, up to 100,000 shares of Employer's stock in eighteen months at $3.00 per share and up to 100,000 shares of Employer's stock in twenty-four months atper

Qualified Stock Option Plan. Pursuant to a Qualified Stock Option Plan authorized by the Board and approved by the Shareholders of Employer, Employee shall have the option to purchase up to 400,000 shares of the Employer's common shares on the following terms: up to 100,000 shares of Employer's stock in six months at $1.00 per share, up to 100,000 shares of Employer's stock in 12 months at $2.00 per share, up to 100,000 shares of Employer's stock in eighteen months at $3.00 per share and up to 100,000 shares of Employer's stock in twenty-four months atat $4.00 per share. These options are cumulative and fully vested upon execution of this Agreement; and