Stock and Stock Options. Subject to vesting, as set forth on Exhibit B, the Company will issue to Director stock and options as set forth and described on Exhibit B. Company shall issue said stock and options within sixty (60) days from the execution of this Agreement by both parties.
Stock and Stock Options. Subject to the approval of the Board, the Company shall grant the Employee an option ("Option") to purchase 904,500 shares of the Company's Common Stock under the Company's 1998 Stock Plan (the "Plan"). The exercise price of such Option shall be equal to the fair market value of such stock on the later of (i) the date of grant or (ii) the first day of the Employee's service with the Company. The term of this Option shall be 10 years, subject to earlier expiration in the event of the termination of the Employee's Employment. Such Option shall be immediately exercisable, but the purchased shares shall be subject to repurchase by the Company at the exercise price in the event that the Employee's Employment terminates before he vests in the shares. The Employee shall vest in 301,500 of the Option shares on the vesting commencement date of the Option and the remaining 603,000 of the Option shares shall vest in equal monthly installments upon the completion of each continuous month of service for the Company over a 48-month period from the vesting commencement date of the Option. It is anticipated that there will be an exemption from registration available under the federal securities laws for the Option shares. If an exemption is not available, the Company shall register the Option shares, including any exercised shares, on a Form S-8 registration statement to the extent that it is permissible under federal securities laws. These same Form S-8 registration statement rights shall be available to any future options granted to the Employee to the extent that it is permissible under federal securities laws. Please see Section 5, Change in Control, and Section 7, Termination Benefits, for additional terms related to the Option. The grant of this Option shall otherwise be subject to the other terms and conditions set forth in the Plan and in the Company's standard form of stock option agreement. Any shares of the Company's Common Stock purchased by the Employee, pursuant to the exercise of options or otherwise, shall be treated in the same manner as any other shares of the Company's Common Stock issued by the Company.
Stock and Stock Options. Employee currently owns Common Stock and/or Preferred Stock in the Company. The Company's Compensation Committee, in its sole discretion, may grant Employee one or more stock options or other equity rights.
Stock and Stock Options. 7.1 It is acknowledged that EXECUTIVE owns a number of shares of common stock in NUTEK OIL and further, that
(a) NUTEK OIL shall register for public trading with the Securities and Exchange Commission at least ten percent (10%) of the shares owned by EXECUTIVE per year for each year of the contract beginning with the second year of the contract or the first offering of securities, whichever shall occur first.
(b) In the event a voluntary termination by EXECUTIVE and NUTEK OIL, NUTEK OIL shall register the balance of the stock owned by EXECUTIVE pro- rata over five (5) years following such termination in the event such stock is not sooner sold.
(c) In the event of involuntary termination or an offer is made by a single purchaser or group of purchasers and accepted by NUTEK OIL for 51% or more of the outstanding common stock of NUTEK OIL, all remaining shares of stock owned by EXECUTIVE shall be registered for public trading immediately.
7.2 EXECUTIVE is entitled to receive stock distributions of fully paid and non-assessable common stock of NUTEK OIL, in addition to any other stock options EXECUTIVE may be entitled to, as described in Exhibit A to this Agreement, entitled "Executive Stock Option Agreement".
Stock and Stock Options. If, at the time of an Eligible Termination, the Executive holds stock in Bcom3 (or stock in a successor corporation or a new parent holding company), then the Executive will become entitled to hold his or her stock subject to the least restrictive provisions that are then applicable to any group of employees (or former employees) of Bcom3; provided, however, that, if the Executive is still -------- ------- subject to a "never lapse" restriction for federal income tax purposes at the time of the Eligible Termination, such restriction will not lapse solely by reason of the Eligible Termination, and instead the Executive will become entitled to hold his or her shares, subject to such restriction, for up to 10 years thereafter.
Example 1. If the current provisions of the Stock Purchase Agreement --------- survive a Change in Control, so that the Executive remains subject to a "never lapse" restriction, then the Executive will become entitled to have his or her Eligible Termination treated as an "Agreed Separation" for purposes of the Stock Purchase Agreement.
Example 2. If a public company uses its stock to acquire Bcom3 in a --------- Change in Control transaction, and a group of Bcom3 employees (or former employees) have come to hold their new public company shares free of any repurchase and transfer restrictions (or perhaps subject only to transfer restrictions coterminous with their noncompete and nonsolicitation covenants), and the Executive is no longer subject to a "never lapse" restriction at the time of his or her Eligible Termination, then the Executive will be entitled to hold his or her public company shares subject to the least restrictive such provisions. If the Executive holds stock options in Bcom3 (or "rollover" stock options in a successor corporation or a new parent holding company) at the time of an Eligible Termination, then (a) the Executive will be deemed to have immediately satisfied any remaining vesting or other similar conditions to the full exercisability of his or her stock options, (b) the Executive will remain entitled to exercise his or her options until the final expiration date that would have applied if he or she had remained an employee, and (c) the Executive will be entitled, upon exercise of his or her stock options, to hold the resulting shares of stock subject to the same provisions that would have applied if he or she had held stock (instead of stock options) in Bcom3 (or a successor corporation or a new parent holding ...
Stock and Stock Options. The Executive shall be entitled to stock and stock options in recognition of his Services as may be awarded from time to time by the Board of Directors at its sole discretion.
Stock and Stock Options. Company acknowledges that Director is an owner of Common Stock and may hold options to purchase stock in Company, and that the rights attributable to these securities (the "Securities") shall not be affected by the execution of this Agreement.
Stock and Stock Options. Company acknowledges that Director is an owner of Common Stock, and that the rights attributable to these securities (the "Securities") shall not be affected by the execution of this Agreement. In addition, in consideration of the services to be rendered under this Agreement, Company agrees to grant Director the following shares and stock options subject to the approval of the Board of Directors (the "Options"):
(1) An option to purchase 125,000 shares of Company's Common Stock at an exercise price of $1.00 per share (noting that the fair market value of Company's Common Stock on the Effective Date is $1.05 per share), all of which shall vest on December 15, 2005. The Options shall expire 3 years from the date of vesting.
(2) An option to purchase an additional 125,000 shares of the Company's Common Stock shall be granted when the Company acquires a project with a drill-indicated resource1 of at least 1.5 million ounces of gold or gold-equivalent2 and if financing can be arranged. The exercise price of these Options will be $1.00 per share, and will vest on the date such Options are granted.
(3) A grant of 125,000 shares of the Company's Common Stock ("Shares") shall be issued to Director in the event that a positive feasibility study is completed by the Company, a successor company or joint venture partner on a Company project on at least 1 million ounces of gold or gold equivalent.3
Stock and Stock Options. The Executive shall receive upon the signing of this Agreement (i) 500,000 shares of Common Stock of the Company; and (ii) 500,000 options granted pursuant to the Company's Employee Stock Option Plan.
Stock and Stock Options. Consultant will be compensated with One Million Five Hundred Thousand (1,500,000) shares of LRMK stock. These shares will transferred to CLS Consulting, LTD no earlier than April 15, 2004 and no later than July 15, 2004, at the discretion of LRMK. Xxxxxxxx X. Xxxxxxxxx will provide account information and transfer details to LRMK no later than April 2, 2004.
