Sign-on Option Award Sample Clauses

Sign-on Option Award. On the Effective Date the Compensation Committee will grant to the Executive an option to purchase 677,201 shares of the Company’s Common Stock under the LTSIP (the “Sign-On Option Award”). The Sign-On Option Award will be subject to terms and conditions of the option agreement attached hereto as Exhibit B. Except as otherwise provided in the Executive’s Option Agreement evidencing the Sign-On Option Award, the Sign-on Option Award will be governed by provisions of the LTSIP.
Sample 1Sample 2See All (5)
Sign-on Option Award. Executive will be granted a one-time sign-on award of time-based stock options (“Options”) under the Equity Plan with an aggregate grant date fair value of $2,000,000 (such award, the “Sign-on Option Award”). The Sign-on Option Award will be granted to Executive on the first trading day following the filing of the Company’s Form 10-Q for the fiscal quarter ended March 31, 2023, subject to Executive’s continued employment through the applicable grant date, and will be subject to the terms and conditions of the Equity Plan and applicable award agreements to be provided to Executive. The number of Options granted will be determined by the Company based on the Black-Scholes value of Company common shares on the date of grant.
Sample 1
Sign-on Option Award. On the Effective Date the Compensation Committee granted to the Executive an option to purchase 3,275,000 shares of the Company’s Common Stock under the LTSIP (the “Sign-On Option Award”). The Sign-On Option Award is subject to the terms and conditions of the option agreement attached hereto as Exhibit A. With respect to 1 million shares underlying the Sign-On Option Award, the Option Price is equal to the Market Value Per Share on the Date of Grant (each term as defined in the LTSIP). With respect to 1 million shares underlying the Sign-On Option Award, the Option Price is equal to 120% of the Market Value Per Share on the Date of Grant. With respect to the remaining 1.275 million shares underlying the Sign-On Option Award, the Option Price is equal to 140% of the Market Value Per Share on the Date of Grant. Subject to the terms and conditions of the option agreement evidencing such grant, the Sign-On Option Award shall vest in equal annual installments on each of the first three anniversaries of the Date of Grant; provided, however, that to the extent the Sign-On Option Award is not assumed, converted or replaced with equivalent value awards by the resulting entity in the event of a Change in Control (as defined in the LTSIP), the Sign-On Option Award shall immediately vest and become fully exercisable. Except as otherwise provided in the Executive’s award agreement evidencing the Sign-On Option Award, the Sign-On Option Award will be governed by provisions of the LTSIP.
Sample 1
Sign-on Option Award. The Board has approved for the Officer the grant of a stock option award under the Company’s 2021 Omnibus Incentive Plan (the “Equity Plan”) with an underlying number of shares equal to 155,325 (representing about 0.9% of the Company’s common shares outstanding). The grant date of the option will be the Effective Date of this Agreement. The option will have an exercise price equal to fair market value per share on the grant date and will vest over four years based on the standard terms of the Company’s option awards. In case of termination of services giving rise to severance payments under Section 5(b) below (i.e., during a Protected Period), as provided by Section 15.3.1 of the Equity Plan, the Officer shall fully (100%) vest in any unvested outstanding equity awards under the Equity Plan to the extent that the awards are assumed, converted, or replaced in the Change in Control transaction. The sign-on option, and any other equity awards to the Officer, will be subject to the terms of the Equity Plan and applicable award agreement thereunder, which will include other standard terms and conditions not inconsistent with the foregoing, and which, in all events, will govern and control the award.
Sample 1
Sign-on Option Award. The Board has approved for the Executive the grant of a stock option award under the Company’s 2021 Omnibus Incentive Plan (the “Equity Plan”) with an underlying number of shares equal to 29,000. The grant date of the option will be the Effective Date. The option will have an exercise price equal to fair market value per share on the grant date and will vest over four years based on the standard terms of the Company’s option awards. The sign-on option, and any other equity awards to the Executive, will be subject to the terms of the Equity Plan and applicable award agreement thereunder, which will include other standard terms and conditions not inconsistent with the foregoing, and which, in all events, will govern and control the award.
Sample 1
Sign-on Option Award. On the Effective Date the Compensation Committee will grant to the Executive an option to purchase 3,275,000 shares of the Company's Common Stock under the LTSIP (the "Sign-On Option Award"). The Sign-On Option Award will be subject to the terms and conditions of the option agreement attached hereto as Exhibit A. With respect to 1 million shares underlying the Sign-On Option Award, the Option Price will equal the Market Value Per Share on the Date of Grant (each term as defined in the LTSIP). With respect to 1 million shares underlying the Sign-On Option Award, the Option Price will equal the Market Value Per Share on the Date of Grant (each term as defined in the LTSIP). With respect to 1 million shares underlying the Sign-On Option Award, the Option Price will equal 120% of the Market Value Per Share on the Date of Grant. With respect to the remaining 1.275 million shares underlying the Sign-On Option Award, the Option Price will equal 140% of the Market Value Per Share on the Date of Grant. Subject to the terms and conditions of the option agreement evidencing such grant, the Sign-On Option Award shall vest in equal annual installments on each of the first three anniversaries of the Date of Grant; provided, however, that to the extent the Sign-On Option Award is not assumed, converted or replaced with equivalent value awards by the resulting entity in the event of a Change in Control (as defined in the LTSIP), the Sign-On Option Award shall immediately vest and become fully exercisable. Except as otherwise provided in the Executive's award agreement evidencing the Sign-On Option Award, the Sign-on Option Award will be governed by provisions of the LTSIP.
Sample 1
Sign-on Option Award. The Board has approved for the Executive the grant of a stock option award under the Company’s 2021 Omnibus Incentive Plan (the “Equity Plan”) with an underlying number of shares equal to 155,325 (representing about 0.9% of the Company’s common shares outstanding). The grant date of the option will be the Effective Date of this Agreement. The option will have an exercise price equal to fair market value per share on the grant date and will vest over four years based on the standard terms of the Company’s option awards. In that regard and consistent with Section 15.3.1 of the Equity Plan, in the event of a Change in Control, any equity awards to the Executive (including the sign-on option award) will be subject to double-trigger vesting for a termination without Cause or with Good Reason within two years following the Change in Control if the award is assumed, converted or replaced in connection with the Change in Control (and single trigger vesting upon the Change in Control if the award is not assumed, converted or replaced in connection with the Change in Control). The sign-on option, and any other equity awards to the Executive, will be subject to the terms of the Equity Plan and applicable award agreement thereunder, which will include other standard terms and conditions not inconsistent with the foregoing, and which, in all events, will govern and control the award.
Sample 1
Sign-on Option Award. The Executive shall be granted a stock option award under the Chardan Healthcare Acquisition 2 Corp. 2021 Omnibus Incentive Plan (“Post-Close Equity Plan”), subject to the approval of the compensation committee of the board of directors of CHAQ (which approval the Company shall recommend), as the surviving company (the “Post-Close Compensation Committee”), with a grant date fair value of $1,500,000 and with standard vesting terms (including treatment on termination of employment) as generally applicable to other employees and as determined by the Post-Close Compensation Committee, and in addition the Company shall recommend to the Post-Close Compensation Committee that the sign-on stock option award vest on a 4-year vesting schedule keyed off of the Effective Date (with 25% vesting six months after the Effective Date and the remainder vesting in equal monthly tranches over the following 42 months), subject to the Executive’s continued employment, and with accelerated single-trigger vesting upon a change in control. The sign-on stock option grant will be subject to the terms of the Post-Close Equity Plan and the option award agreement thereunder, which will include other standard terms and conditions not inconsistent with the foregoing, and which, in all events, will govern and control the sign-on stock option award.
Sample 1

Related to Sign-on Option Award

  • Stock Option Award In the event of Employee’s involuntary Termination of Employment without Cause or Termination of Employment due to a resignation by Employee for Good Reason that, in either case, occurs on or before the second anniversary of a Change in Control, the Stock Option Award shall become exercisable immediately (whether or not previously exercisable) and shall remain exercisable for the three year period following such Termination of Employment. For this purpose, “Good Reason” has the same meaning determined by Employee’s written employment agreement in effect on the Grant Date. In the event there is no such agreement or definition, then Good Reason means the initial existence of one or more of the following conditions, arising without the consent of the Employee: (1) a material diminution in Employee’s base compensation; (2) a material diminution in Employee’s authority, duties, or responsibilities, so as to effectively cause Employee to no longer be performing the duties of his position; (3) a material diminution in the authority, duties, or responsibilities of the supervisor to whom Employee is required to report.

  • Option Right Landlord hereby grants to the originally named Tenant herein (“Original Tenant”), and its “Permitted Assignees”, as that term is defined in Section 14.8, below, one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”), which option shall be irrevocably exercised only by written notice delivered by Tenant to Landlord not more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term, provided that the following conditions (the “Option Conditions”) are satisfied: (i) as of the date of delivery of such notice, Tenant is not in default under this Lease, after the expiration of any applicable notice and cure period; (ii) Tenant has not previously been in default under this Lease, after the expiration of any applicable notice and cure period, more than twice in the twelve (12) month period prior to the date of Tenant’s attempted exercise; and (iii) the Lease then remains in full force and effect. Landlord may, at Landlord’s option, exercised in Landlord’s sole and absolute discretion, waive any of the Option Conditions in which case the option, if otherwise properly exercised by Tenant, shall remain in full force and effect. Upon the proper exercise of such option to extend, and provided that Tenant satisfies all of the Option Conditions (except those, if any, which are waived by Landlord), the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to Original Tenant and any Permitted Assignees, and may be exercised by Original Tenant or such Permitted Assignees (and not by any assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, of Tenant’s interest in this Lease).

  • Option Rights Except as provided below, the Option shall be valid for a term commencing on the Grant Date and ending 10 years after the Grant Date (the "EXPIRATION DATE").

  • Stock Option Grants EMPLOYEE shall receive options to purchase Class A common stock of XM Satellite Radio Holdings Inc. (“XM Stock”) on the following terms. (a) On the Effective Date of the Amendment, XM will grant EMPLOYEE an option to purchase Three Hundred Fifty Thousand (350,000) shares of XM Stock. Additional stock options shall be awarded at the discretion of the Compensation Committee and the Board of Directors. (b) The options granted pursuant to Article 3.7(a) hereof will be non-qualified. The exercise price for such options shall be, with respect to each grant, the closing price of XM Stock on the date of grant. (c) Subject to the provisions of Article 4 hereof, the options granted pursuant to Article 3.7(a) hereof will vest and become exercisable on the following schedule: with respect to each grant, one third of the shares covered by the option shall become exercisable on the first anniversary of the grant, one third of the shares covered by the option shall become exercisable on the second anniversary of the grant, and one third of the shares covered by the option shall become exercisable on the third anniversary of the grant. In addition to the annual vesting requirement, the initial options granted upon the amendment of the contract shall also require that EMPLOYEE will not sell, pledge or otherwise dispose of shares issued upon the exercise of such initial options until the first to occur of the following: (i) the average closing price of XM Stock on the Nasdaq National Market system, or principal stock exchange on which shares of XM Stock are then listed, over any 20 consecutive trading days following the date of grant equals or exceeds $10, or (ii) seven years have elapsed since the date of grant. In the event that EMPLOYEE holds non-vested options at the time his employment by XM terminates, such non-vested options shall vest or shall be forfeited, as the case may be, in accordance with the provisions of Article 4 hereof. (d) Vested options may be exercised within ten (10) years of the date on which they were granted. In the event that EMPLOYEE holds unexercised vested options at the time his employment by XM terminates, such vested options may be exercised within the time periods set forth in Article 4 hereof. (e) XM agrees that the XM Stock to be issued to EMPLOYEE upon his exercise of the options granted pursuant to Article 3.7(a) hereof will be registered for sale to the public on XM’s Form S-8 Registration Statement.

  • 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.

  • Renewal Options a. Tenant shall have the right and option to renew the Lease (“Renewal Option”) for two (2) successive renewal periods of five (5) years each (each, an “Option Term”); provided, however, the Renewal Option is contingent upon the following: (i) there is not an Event of Default beyond all applicable cure period(s) at the time Tenant gives Landlord notice of Tenant’s intention to exercise the Renewal Option or at the expiration of the current Term; (ii) no event has occurred that upon notice or the passage of time would constitute an Event of Default, unless Landlord has given notice of default and Tenant is diligently attempting to cure such event; and (iii) Tenant is occupying the Premises. Following expiration of the final Option Term allowable hereunder, Tenant shall have no further right to renew the Lease pursuant to this Section 5. b. Tenant shall exercise the Renewal Option by giving Landlord notice at least one hundred eighty (180) days prior to the expiration of the current Term. If Tenant fails to give notice to Landlord prior to the 180-day period, then Tenant shall forfeit the Renewal Option. If Tenant exercises the Renewal Option, then during the Option Term, Landlord and Tenant’s respective rights, duties and obligations shall be governed by the terms and conditions of the Lease, except as provided otherwise in this Section. Time is of the essence in exercising the Renewal Option. c. The Base Rental for an Option Term shall be the Fair Market Rental Rate. “Fair Market Rental Rate” shall mean the market rental rate for the time period such determination is being made for office space in same class office buildings in the area of Franklin, Tennessee (the “Area”) of comparable condition for space of equivalent quality, size, utility, and location. Such determination shall take into account all relevant factors, including, without limitation, the following matters: the credit standing of Tenant; the length of the term; the fact that Landlord will experience no vacancy period and that Tenant will not suffer the costs and business interruption associated with moving its offices and negotiating a new lease; construction allowances and other tenant concessions that would be available to tenants comparable to Tenant in the Area (such as moving expense allowance, free rent periods, and lease assumptions and take over provisions, if any, but specifically excluding the value of improvements installed in the Premises at Tenant’s cost), and whether adjustments are then being made in determining the rental rates for renewals in the Area because of concessions being offered by Landlord to Tenant (or the lack thereof for the Option Term in question). For purposes of such calculation, it will only be assumed that Landlord is paying a representative of Tenant a brokerage commission in connection with the Option Term in question if Landlord is in fact paying a brokerage commission to a representative of Tenant in connection with the applicable Option Term.

  • Renewal Option This Contract may be renewed under the same terms and conditions, subject to the approval of the Commissioner of the Department of Administration and the State Budget Director in compliance with IC § 5-22-17-4. The term of the renewed contract may not be longer than the term of the original Contract.

  • NOTICE OF STOCK OPTION GRANT Participant Name: Address:

  • Grant of Option; Conditions Tenant shall have a continuing right of first offer (the “Right of First Offer”) with respect to the following space in the Office Section: (i) Commencing on the date hereof, all space in Tower IV other than on the first floor; (ii) Commencing on the date hereof, any space in Tower Ill that is contiguous to the then Premises, whether on a floor above or below the Premises (including SSB Expansion Space and Early Expansion Space not added under Section 41.01 and any expansion space under Section 41.02) or on the same floor as a portion of the Premises, but in Tower Ill; (iii) Commencing July 1, 2019, any space in Tower I, but subject to the rights, existing as of the date of this Lease, of other tenants of the Building. Any such space that becomes available as hereinafter described is referred to herein as the “Offering Space”. If during the Term Landlord determines (in Landlord’s sole judgment) that Offering Space is available to lease to a third party other than the existing tenant or licensee of the Offering Space, then Landlord shall so advise Tenant (the “Advice”). Tenant may lease such Offering Space in its entirety only, under the applicable terms described below, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within ten business (10) days after the date of the Advice. In any event, Tenant’s delivery of a Notice of Exercise shall be deemed to be the irrevocable exercise by Tenant of its Right of First Offer subject to and in accordance with the provisions of this ARTICLE 43. Any reference to the Advice below shall be a reference to the Advice with respect to which a Notice of Exercise was given. Notwithstanding the foregoing, Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Advice, if: (a) A material default is then continuing at the time that Landlord would otherwise deliver the Advice; or (b) Tenant herein named (or a transferee pursuant to a Related Party Transfer, as defined in ARTICLE 17 of this Lease) is not in occupancy of at least 70% of the Premises initially leased at the time Landlord would otherwise deliver the Advice; or (c) This Lease has been assigned (other than pursuant to a Related Party Transfer) prior to the date Landlord would otherwise deliver the Advice.

  • Option Granted In consideration of the payment of RMB10 by Party A, the receipt and adequacy of which is hereby acknowledged by Party B, Party B hereby irrevocably grants Party A an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in Party C then held by Party B once or at multiple times at any time in part or in whole at Party A’s sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Except for Party A and the Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of Party B. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations.