SPECIAL STOCK OPTION AWARD. Effective on the date of the Spin-Off or, if it occurs first, the IPO (the "Effective Date"), you will receive an option to purchase shares of Xxxxxx stock with an economic value at the time of grant of $175,000 using a generally accepted valuation methodology. This option will be issued under a new option and equity compensation plan (the "Xxxxxx Stock Incentive Plan") that will be adopted by Xxxxxx'x Board of Directors. Your option will vest in equal installments over a period of four years provided that you remain employed with Xxxxxx during that time, or as provided otherwise under the Xxxxxx Stock Incentive Plan. The exercise price will equal the fair market value of Xxxxxx stock at the time the option is granted.
SPECIAL STOCK OPTION AWARD. Effective on the date of the Spin-Off or, if it occurs first, the IPO (the "Effective Date"), you will receive an option to purchase shares of Zimmer stock with an economic value at the time of grant of $175,000 using a generally accepted valuation methodology. This option will be issued under a new option and equity compensation plan (the "Zimmer Stock Incentive Plan") that will be adopted by Xxxxxx'x Board of Directors. Your option will vest in equal installments over a period of four years provided that you remain employed with Zimmer during that time, or as provided otherwise under the Zimmer Stock Incentive Plan. The exercise price will equal the fair market value of Zimmer stock at the time the option is granted.
SPECIAL STOCK OPTION AWARD. On December 14, 2001, the Company shall grant the Executive a ten-year option to purchase 25,000 shares of Common Stock. Such option shall be granted at an exercise price equal to the fair market value of the Common Stock on the grant date, and shall become exercisable over a period of three years from the grant date in three equal annual installments commencing on the first anniversary of the grant date, subject to the terms, conditions and adjustments set forth in Section 8 below.
SPECIAL STOCK OPTION AWARD. Subject to approval of the Board, you will be granted a Nonqualified Stock Option to purchase 50,000 shares (the “Options”) of Xxxxxxxx’x Class A common stock, par value $1.00 per share (“Common Stock”) pursuant to the Xxxxxxxx & Company 2016 Omnibus Stock and Incentive Plan (the “Plan”). The grant breaks down as follows; 25,000 shares at an exercise price of $12.50 (or such higher price per share which the shares may be trading at the time such award is approved) per share and 25,000 shares at an exercise price of $13.50 per share (or such higher price per share which the shares may be trading at the time such award is approved). The terms, conditions and restrictions applicable to the Options are contained in the Plan and in the Nonqualified Stock Option Award Agreement (the “Award Agreement”) you will receive upon Board approval. These options will vest over a three-year period, one-third per year on the anniversary of the grant date.
SPECIAL STOCK OPTION AWARD. As of the Effective Date, the Company -------------------------- shall grant the Executive a ten-year option to purchase 500,000 shares of Common Stock. Such option shall become exercisable to purchase: (i) 250,000 shares of Common Stock at a price of $7.50 per share beginning as of the third anniversary of the Effective Date; (ii) 150,000 shares of Common Stock at a price of $15.00 per share beginning as of the fourth anniversary of the Effective Date; and (iii) 100,000 shares of Common Stock at a price of $22.00 per share beginning as of the fifth anniversary of the Effective Date, subject in each case to the terms, conditions and adjustments set forth in Exhibit A attached hereto and in Section 8 below.
