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.
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.
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.
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.
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.
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.
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.
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.
