Restricted Stock and Options. Xx. Xxxxxx shall participate in such restricted stock and option plans of the Company as are made available generally to senior executive officers of the Company. Any grants under such plans shall be made by the Board of Directors (or appropriate committee thereof) in its sole discretion and such plans are subject to change during the Term at the sole discretion of the Company.
Restricted Stock and Options. On the Closing Date, and subject to complying with all applicable Laws, the Parent shall grant to the employees of the Company listed on Section 5.10 of the Purchaser Disclosure Schedule, restricted stock units and/or options, in accordance with the Parent's Stock Option Plan for Convedia Employees (the "AWARDS"). The aggregate value of the restricted stock units and/or options granted to employees of the Company listed on Section 5.10 of the Purchaser's Disclosure Schedule shall be no less than $5,000,000 based on the Black-Scholes valuation (using the assumptions generally used by the Parent to value its options) of the options five trading days prior to the Closing Date and based on the closing price of the Parent's common stock on the NASDAQ Global Select Market on the fifth trading day prior to the Closing Date. The options granted to such employees shall be at an exercise price equal to the closing price of the common stock of the Parent last reported on the NASDAQ Global Select Market on the Closing Date. With respect to any options granted to such employees, one third of the total option shares subject to the option shall vest and first become exercisable on the first anniversary of the Closing Date, and thereafter an additional 1/36th of the total option shares subject to the option shall vest and become exercisable in equal monthly increments over the next 24 months, with all option shares subject to the option becoming fully exercisable on the third anniversary of the Closing Date. With respect to any restricted stock units granted to such employees, the restrictions associated with the right to receive one third of the number of shares of common stock of the Parent subject to such grant of restricted stock units shall lapse on the first anniversary of the Closing Date, and the restrictions associated with the right to receive an additional one third of the number of shares of common stock of the Parent subject to such grant of restricted stock units shall lapse on each succeeding anniversary thereof such that all restrictions relating to such rights to receive shares of common stock of Ranger are fully lapsed on the third anniversary of the Closing Date.
Restricted Stock and Options. (a) The Company shall take such actions as are necessary with respect to any restricted stock agreement between the Company and any employee of the Company to provide that the shares issued to any holder of restricted stock in the Recapitalization shall be issued with regard to, and shall remain subject to, the restrictions set forth in such restricted stock agreement.
(b) The Company shall take such actions as are necessary to cause each option to purchase Nonvoting Stock to be adjusted so that, subject to the terms and conditions of the Company's Stock Incentive Plan and the terms and conditions of such options, upon exercise the holder will be entitled to acquire 1.0 share of Voting Stock for each former right to purchase 1.0 share of Nonvoting Stock; provided, however, that options to acquire Nonvoting Stock shall not be adjusted to entitle holders to acquire Voting Stock if the Registration Statement is not declared effective by the SEC on or before April 30, 1998 or if the IPO does not close within 15 days of the date the Registration Statement is declared effective by the SEC.
Restricted Stock and Options. 4.1 The Company confirms that it will exercise its discretion having received approval of the Compensation Committee of the Xxxxx Xxxxxxx Company board of directors (on 1 November 2010) under the Restricted Stock Scheme to allow for early vesting on 31 January 2011 of the 34,075 units of the Employee’s granted but unvested restricted stock.
4.2 The Company confirms that the employee has 1441 non-qualified stock options which are governed under the terms and conditions set forth in the Restricted Stock Scheme under which option awards were granted to the Employee by the Employer.
Restricted Stock and Options. Executive shall participate in such restricted stock and option plans of the Company as are made available generally to senior executive officers of the Company. Any grants under such plans shall be made by the Board of Directors (or appropriate committee thereof) in its sole discretion and such plans are subject to change during the Term at the sole discretion of the Company.
Restricted Stock and Options. Full vesting of all restricted stock and stock options and phantom stock options (collectively "Options") with the lesser of three (3) years from his Termination Date or ten (10) years from the date the Options were granted in which to exercise his Options pursuant to the terms of the Executive's Option or Supplemental Option Agreement; (the terms of this acceleration are set forth in draft in a Supplemental Agreement attached as Exhibit A);
Restricted Stock and Options. Full vesting of all restricted stock, phantom restricted stock, and stock options and phantom stock options (collectively "Options") with the exercise period being the lesser of three (3) years from the Executive's Termination Date or of the exercise period stated in the Executive's applicable Option or Supplemental Option Agreements, subject to the terms of the agreements governing such Options.
Restricted Stock and Options. From May 1, 2005 through December 31, 2009, the Employee shall be eligible for ten semi-annual awards of restricted stock of the Company (“Restricted Stock Awards”). Each semi-annual Restricted Stock Award shall be for a number of shares that as of the date of such award have an aggregate Fair Market Value (as defined in the appropriate stock incentive plan) of $25,000. The Restricted Stock Awards shall be subject to vesting terms consistent with such terms under the most recent Restricted Stock Agreement issued to the Employee prior to the Effective Date, including the provision for full vesting in the event of the Employee’s death, and shall be subject to all other terms and conditions of the plan and award agreements under which the Restricted Stock Awards are granted. Notwithstanding the foregoing, for purposes of determining the exercisability and term of stock options and vesting of restricted stock granted to the Employee prior to April 30, 2005 (including Restricted Stock Awards granted hereunder), the Employee shall be deemed to have retired effective April 30, 2005, and for purposes of the Restricted Stock Awards granted hereunder after April 30, 2005 the Executive shall not be eligible for vesting due to retirement.
Restricted Stock and Options. In addition, you will receive 25,000 restricted shares of Document Sciences Corporation common stock (subject to state and federal regulations and upon approval by the board of directors at their next regularly scheduled meeting following your start date). The restricted shares will vest over 3 years according to the following schedule: 30% vested at the end of one year, next 30% vested at the end of two years, and the final 40% vested at the end of three years. You will also receive options to purchase 25,000 shares Document Sciences Corporation common stock (subject to state and federal regulations and upon approval by the board of directors at their next regularly scheduled meeting following your start date). The stock options will vest over three years according to the following schedule: 30% vested at the end of one year, the remaining 70% vested ratably over the next 24 months.
Restricted Stock and Options. As of the Effective Date, the Executive was granted 500,000 restricted shares of the Company's Common Stock, $.01 par value ("Common Stock"). Such shares are subject to three year cliff vesting; provided, however, if the employment of the Executive under this Agreement is terminated prior to the shares being fully vested for any reason other than by the Company for Cause or Disability, the death of the Executive or by the Executive for any reason other than for Good Reason, such shares shall become vested on the termination date. Until the shares of Common Stock are vested, the Executive may not transfer, pledge or dispose of the unvested shares. The Executive, however, may vote any unvested shares and be entitled to receive any dividends or distributions (other than noncash distributions, which shall be subject to the same vesting restrictions as the shares of Common Stock for which such distributions were received). The Company may also hold the unvested shares until they have vested. The Executive may elect to deliver shares of Common Stock (valued at their then current market price) to the Company in satisfaction of any withholding obligation the Company may have on the vesting of such shares. Such shares shall be subject to accelerated vesting as provided in Section 4(a). Such shares shall also be subject to accelerated vesting on a change of control as defined in the Company's form of stock option agreement. Within 30 days of the Effective Date, the Executive shall also be granted options under the Company's stock option plan to purchase an aggregate of 250,000 shares of Common Stock at an exercise price per share equal to the closing sale price of a share of Common Stock as of the date of the option grant, which options are subject to three year cliff vesting.
