Status of Stock Options Sample Clauses

Status of Stock Options. Sperry and the Company acknowledge and agree that the stock options held by Sperry, and the status thereof, are as set forth in this Section 5:
Sample 1
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Status of Stock Options. Notwithstanding the Senior Consultant ----------------------- retirement from employment with the Company and the termination of the Employment Agreement, the Company hereby confirms that the term Employee, as used in that certain Grant Letter dated as February 1997, also includes consultants and directors of the Company. Accordingly, Section 2(e) of such Grant Letter has not been triggered by the Senior Consultant's retirement from employment with the Company.
Sample 1
Status of Stock Options. Notwithstanding any other agreement in effect as of the Effective Date or entered into after the Effective Date, in the event that this Agreement is terminated for cause pursuant to subsection 3(c) above or by voluntary resignation pursuant to subsection 3(d) above, any stock options held by the Consultant that have not vested as of the date of such termination shall be deemed to be terminated and of no further force or legal effect. Any stock options held by the Consultant that have vested as of the date of such termination shall remain exercisable subject to the terms of the stock option plan and/or agreement pursuant to which said stock options were originally granted. In the event that this Agreement is terminated at will pursuant to subsection 3(b) above or as a result of the Consultant's death pursuant to subsection 3(f) above, above, all unvested stock options held by the Consultant shall be deemed to have vested as of the effective date of termination or deemed termination to allow the Consultant (or his personal representatives) to exercise the options to purchase shares granted thereby with regard to that number of shares that the Consultant would have been entitled to purchase had his employment continued for a period of three (3) months from the effective date of such termination or deemed termination. In the event that any of the terms of such options are not ascertainable or in the event that applicable securities legislation precludes the acceleration of the vesting dates in the manner described herein, the Company agrees to compensate the Consultant by way of a cash payment of that amount of money which the Consultant would have been entitled to (the "Option Payout") if it had exercised any such options on the effective date of termination or deemed termination at the applicable exercise price and sold the securities on the exchange or market where the majority of the Company's shares are then traded, at a price equal to the average trading price for the last ten (10) business days preceding the effective date of termination on which the subject securities were traded. In the event that such average trading price does not exceed the applicable exercise price, no compensation shall be payable by either party with respect thereto. The Option Payout, if any, shall be paid within one hundred twenty (120) days of the effective date of termination of the Consultant and shall be in final, full and complete satisfaction of any and all obligations o...
Sample 1
Status of Stock Options. The Company hereby represents and warrants to the executive that the following stock options have been vested to him prior to this date (or will without question vest prior to June 9, 1999 whether or not the Executive is then an employee). ---------------- --------------- ------------- ----------- ------------ ------------ Number Option Date Plan Type Price Shares ---------------- --------------- ------------- ----------- ------------ ------------ 001606 12/12/90 87NQ NQ $2.3800 13,419 ---------------- --------------- ------------- ----------- ------------ ------------ B01678 12/12/90 871S NQ $2.3800 20,831 ---------------- --------------- ------------- ----------- ------------ ------------ 000344 2/4/92 871S ISO $7.8750 2,886 ---------------- --------------- ------------- ----------- ------------ ------------ 001018 2/4/92 871S ISO $7.8750 50,000 ---------------- --------------- ------------- ----------- ------------ ------------ 001099 2/4/92 86 ISO $7.8750 1,l38 ---------------- --------------- ------------- ----------- ------------ ------------ A01690 2/4/92 87NQ NQ $7.8750 7,147 ---------------- --------------- ------------- ----------- ------------ ------------ B01690 2/4/92 87NQ NQ $7.8750 2,529 ---------------- --------------- ------------- ----------- ------------ ------------ 001593 11/3/93 92 NQ $3.8750 42,000 ---------------- --------------- ------------- ----------- ------------ ------------ 001570 8/10/94 92 NQ $5.0000 100,000 ---------------- --------------- ------------- ----------- ------------ ------------ 001573 8/10/94 92 NQ $5.0000 80,000 ---------------- --------------- ------------- ----------- ------------ ------------ 001609 8/10/94 94 NQ $5.0000 200,000 ---------------- --------------- ------------- ----------- ------------ ------------ 001447 8/10/94 92 ISO $5.0000 20,000 ---------------- --------------- ------------- ----------- ------------ ------------ 002822 5/13/97 94 ISO $12.3750 15,245 ---------------- --------------- ------------- ----------- ------------ ------------ 002823 5/13/97 94 NQ $12.3750 6,630 ---------------- --------------- ------------- ----------- ------------ ------------ In addition thereto, the Company hereby represents and warranties to the Executive that so long as he is a member of the Board of Directors of the Company, he will continue to enjoy the following stock options, all of which will vest in the event of a change of control. ---------------- --------------- ------------- ----------- -----------...
Sample 1
Status of Stock Options. As of December 31, 2008, Mr. Kol shall hold fully-vested stock options to purchase 237,334 shares of Vyyo common stock (being 40,000 shares vested under grant number 880, the exercise period of which shall be extended to March 31, 2009 as set forth below in this section; 12,643 shares vested under grant number 1360; 53,233 shares vested under grant number 1361; 80,000 shares vested under grant number 1444; and 51,458 shares vested under grant number 1497) (the “Vested Options”). The remaining unvested stock options under grant numbers 1185, 1186, 1194, 1195, 1202, 1203, 1360, 1361, 1496 and 1497 shall be forfeited and Mr. Kol shall have no further rights in such grants. As of the Termination Date and December 31, 2008, Mr. Kol does not and will not hold any other stock options, exercisable and outstanding or otherwise. For the avoidance of doubt, Mr. Kol will be allowed to exercise the Vested Options (and only the Vested Options) as set forth above no later than three (3) months after December 31, 2008, being March 31, 2009. In the event of any inconsistency between any stock option agreement and this Agreement, the provisions of this Agreement shall control.
Sample 1

Related to Status of Stock Options

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

  • Treatment of Stock Options 6 ARTICLE III.

  • Vesting of Stock Options All unvested stock options held by Executive, if any, shall vest immediately upon a Change of Control Termination as defined in Section 6.1.2. Executive may exercise such options in accordance with the terms and conditions of the stock option plan and the agreement pursuant to which such options were granted.

  • Exercise of Stock Options If stock options granted in connection with a Stock Incentive Plan are exercised:

  • Grant of Stock Option The Company grants to Employee the right and option (hereinafter referred to as the "Option") to purchase all or any part of up to ________ shares of the Company's Common Stock (the "Option Shares") on the terms and conditions set forth below and in the Plan.

  • Status of the Stock Option This Stock Option is intended to qualify as an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), but the Company does not represent or warrant that this Stock Option qualifies as such. The Optionee should consult with his or her own tax advisors regarding the tax effects of this Stock Option and the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements. To the extent any portion of this Stock Option does not so qualify as an “incentive stock option,” such portion shall be deemed to be a non-qualified stock option. If the Optionee intends to dispose or does dispose (whether by sale, gift, transfer or otherwise) of any Option Shares within the one-year period beginning on the date after the transfer of such shares to him or her, or within the two-year period beginning on the day after the grant of this Stock Option, he or she will so notify the Company within 30 days after such disposition.

  • Acceleration of Stock Options The Company shall accelerate and make immediately exercisable any and all unmatured stock options (whether or not such stock options are otherwise exercisable) which Executive then holds to acquire securities from the Company; provided, however, that Executive shall have ninety (90) days after such termination of employment to exercise any outstanding stock options and after such ninety (90) days any and all unexpired stock options shall lapse; and, provided, further, however, any tax benefit provisions with respect to any stock options shall apply to any and all unmatured stock options (whether or not such stock options are otherwise exercisable). If as a result of such acceleration of incentive stock options the $100,000 limitation would be exceeded with respect to an optionee, such incentive stock options shall be converted, as of the date such incentive stock options become exercisable, to non-qualified stock options to the extent necessary to comply with the $100,000 limitation and the Company shall pay to such optionee an additional cash payment equal to the tax benefit to be received by the Company attributable to its federal income tax deduction resulting from the exercise of such converted non-qualified stock options.

  • Stock Option Grants Executive will receive an annual grant of stock options during the term of this Agreement in a manner and under terms that are consistent with grants made to other executives of the Company.

  • Stock Option Awards During the Term, the Executive shall be eligible for awards of options to purchase shares of the Company’s common stock (the “Stock Options”), such Stock Options to be awarded in the sole discretion of the Compensation Committee and in accordance with the terms of the Company’s Stock Option Plan, as such Stock Option Plan may be amended, suspended or terminated from time to time.

  • Company Stock Options At the Effective Time, each Company Stock --------------------- Option shall be deemed to have been assumed by Evergreen, without further action by Evergreen, and shall thereafter be deemed an option to acquire, on the same terms and conditions as were applicable under such Company Stock Option, that number of shares of Surviving Corporation Common Stock that would have been received in respect of such Company Stock Option if it had been exercised immediately prior to the Effective Time (such Company Stock Options assumed by Evergreen, the "Assumed Chancellor Stock Options"); provided, however, that, for -------- ------- each optionholder, (i) the aggregate fair market value of Surviving Corporation Common Stock subject to Assumed Chancellor Stock Options immediately after the Effective Time shall not exceed the aggregate exercise price thereof by more than the excess of the aggregate fair market value of Company Common Stock subject to Company Stock Options immediately before the Effective Time over the aggregate exercise price thereof and (ii) on a share-by-share comparison, the ratio of the exercise price of the Assumed Chancellor Stock Option to the fair market value of the Surviving Corporation Common Stock immediately after the Effective Time is no more favorable to the optionholder than the ratio of the exercise price of the Company Stock Option to the fair market value of the Company Common Stock immediately before the Effective Time; and provided, -------- further, that no fractional shares shall be issued on the exercise of such ------- Assumed Chancellor Stock Option and, in lieu thereof, the holder of such Assumed Chancellor Stock Option shall only be entitled to a cash payment in the amount of such fraction multiplied by the closing price per share of Surviving Corporation Common Stock on the Nasdaq National Market on the business day immediately prior to the date of such exercise.

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