Stock Bonus Plan. On the Commencement Date, the Executive will be ---------------- awarded an option (the "Option") to purchase 150,000 shares of common stock, par value $.01 per share, of Little Switzerland upon the terms and conditions set forth in the Non-Qualified Stock Option Agreement, dated as of the date hereof, by and between the Executive and Little Switzerland.
Stock Bonus Plan. The Borrower will (i) cause the termination of the Best Lock Corporation Stock Bonus Plan as promptly as possible after the Closing Date, and (ii) not authorize, declare or pay any contribution to such plan after the Closing Date.
Stock Bonus Plan. On the effective date of this Agreement, Vincxxxxxxx xxxl be awarded 75,000 shares of Common Stock of the Company as a restricted stock award under the Company's 1994 Restricted Stock Plan (the "Plan") to be vested as follows: Cumulative Percentage of Shares Percentage Vesting Date Becoming Vested Vested ------------ -------------------- ---------- January 1, 1996 33 1/3% 33 1/3% January 1, 1997 33 1/3% 66 2/3% January 1, 1998 33 1/3% 100% As provided in Section 10 of the Plan, the shares subject to the Restricted Stock Award above shall vest upon the occurrence of a "Change of Control" as such term is defined in the Plan.
Stock Bonus Plan. WINW shall reserve 728,548 shares of WINW Stock as a Stock Bonus Plan to be distributed, following the Closing, by the Directors of WINW, in their discretion, for employment incentives to the employees, officers, and directors of the Surviving Corporation.
Stock Bonus Plan. On the Commencement Date, the Executive will be ---------------- awarded an option (the "Option") to purchase 75,000 shares of common stock, par value $.01 per share, of Little Switzerland (the "Common Stock") having an exercise price equal to one hundred percent (100%) of the fair market value of a share of Common Stock on the Commencement Date, pursuant to Little Switzerland's 1991 Stock Option Plan. If at least eighty percent (80%) of the Performance Criteria have been met, as determined in the sole and absolute discretion of the Compensation Committee of Little Switzerland, for the 1999 fiscal year of Little Switzerland, then on the first anniversary date of the Commencement Date, the Executive will be awarded an additional option to purchase 75,000 shares of Common Stock on the same terms and conditions as the Option. All options awarded to the Executive shall qualify as an "incentive stock option" under (S)422A of the Internal Revenue Code of 1986, as amended.
Stock Bonus Plan. The company offers stock bonus plans for all salaried employees. The plans are based on the financial performance of the company as approved by the Compensation Committee of the Board of Directors. Participation in the plan is based on individual performance, length of service and position.
Stock Bonus Plan. The Company shall have terminated the 1987 Plan in form and substance satisfactory to Parent.
