Stock Options and Grants. Employer and Executive hereby acknowledge that, from time to time, Employer has issued and may in the future issue to Executive options to purchase shares of the capital stock of Employer, either pursuant to the LTIP’s, this Agreement, or otherwise (the “Options”). Employer and Executive hereby agree that if there is a Change in Control of Employer, then all of the Options and grants then issued and outstanding to Executive shall automatically and immediately become vested and exercisable (the “Vested Options”). The date on which the Change in Control occurs shall be the “Vesting Date.” Executive’s right to exercise the Vested Options shall expire as provided under the LTIP’s or in any applicable option or granting agreement (an “Option Agreement”) between Employer and Executive with respect to Vested Options governed by such Option Agreement.
Stock Options and Grants a) Options to purchase stock of the Employer shall be awarded to the Employee annually pursuant to the terms of this Employment Contract and otherwise in accordance with the terms and conditions of the Employer's Stock Option Plan based upon EPS percentage growth, adjusted for extraordinary items (including but not limited to the 1995 write down of ComTel assets), and the performance and contribution of the Employee as determined by the CEO in consultation with the Chairman of the Board and subject to approval by the Compensation Committee. The actual number of options awarded shall be determined by multiplying the Employee's base salary, as set forth at (P)3, above, times a percentage, selected by the CEO in consultation with the Chairman of the Board and approved by the Compensation Committee, from the range of percentages applicable to the achieved EPS percentage growth as set forth in the following table: If the Percentage EPS the range of percentages Growth for Year is for determining option awards shall be ----------------------------------------------------------------------------- 0 to 17% 10% to 20% ----------------------------------------------------------------------------- (Greater-than) 17% to 22% 21% to 40% ----------------------------------------------------------------------------- (Greater-than) 22% to 27% 41% to 80% ----------------------------------------------------------------------------- (Greater-than) 27% to 32% 81% to 160% ----------------------------------------------------------------------------- (Greater-than) 32% 161% to 240% ----------------------------------------------------------------------------- The dollar amount so determined shall be divided by the exercise price of the options awarded to determine the actual number of options. The exercise price shall be determined in accordance with the terms and conditions of the Employer's Stock Option Plan. Except as otherwise accelerated, options so awarded shall vest one-third when awarded, one-third twelve months after the date of the award and the balance 24 months after the date of the award. All options shall be exercisable when vested. For example, if the EPS for 1995 is 94c and the 1996 EPS is $1.20, then the percentage EPS growth is 28% (26/94) and the applicable range is 81% to 160%. The CEO, upon consultation with the Chairman of the Board and upon approval of the Compensation Committee, determines, based on the performance and contribution of the Employee, that the ap...
Stock Options and Grants. (i) Upon the occurrence of a Change in Control, any and all options to purchase stock and grants of stock (common or otherwise) in the Company granted to Employee pursuant to any plan or otherwise, including options granted pursuant to the 1988 Management Stock Compensation Plan and/or the 1998 Management Stock Compensation Plan, and any and all grants of stock in the Company granted to Employee pursuant to the 1996 Mandatory Management Stock Bonus Plan (collectively, any or all of these plans shall be referred to herein as the "Stock Plans"), shall become immediately accelerated and fully vested and any restrictions on such options and grants shall, to the extent permissible under applicable securities laws, fully lapse. The Company shall endeavor to cause any restrictions on the options or grants not lapsed by operation of this Section 3(A)(i) to so lapse.
Stock Options and Grants. Subject to approval of the Board, Executive will be granted stock options in Inspire in accordance with the Inspire 2007 Stock Incentive Plan. The number of options granted will be five hundred fifty thousand (550,000) shares. The options granted will vest over four years with 25% vesting at the first year anniversary of the stock option grant and the balance vesting on a monthly basis at a rate of 1/36 per month for the remaining 36 months. With the approval of the Inspire’s Board, including the approval of at least two of the Preferred Directors, the vesting of the Executive will be subject to “double trigger” acceleration upon a change of control which will provide for acceleration of additional vesting, only upon (i.) a change of control and (ii.) the termination of such option holder’s employment, other than for Cause, following such change of control, in amounts determined by the Inspire’s Board, including approval of at least two of the Preferred Directors. The Board will periodically review Executive’s position and at its sole discretion issue additional stock options. Upon the grant of such options, Executive will enter into a stock option agreement in Inspire’s customary form.
Stock Options and Grants. Executive shall be eligible to participate in the Company’s Stock Option and Stock Purchase Plans, as determined in the sole discretion of the Board of Directors. The Board or Compensation Committee of the Board may provide additional awards of stock options or stock grants from time to time or on an incentive plan as deemed appropriate.
Stock Options and Grants. Your rights under the Company’s Stock Incentive Plans with respect to stock options and stock grants shall be as stated in the plan documents or related agreements. For purposes of stock option vesting and exercise your termination date will be the Separation Date. Please refer to the stock option agreements and stock option plans previously provided to you for details on your right to exercise currently vested stock options.
Stock Options and Grants. On the Commencement Date, FirstMerit will make an award to Executive under and pursuant to the terms of the FirstMerit 1997 Stock Plan, a copy of which has been provided to Executive, of non-qualified stock options ("NQSOs") for Twenty-two Thousand Five Hundred (22,500) shares of FirstMerit Corporation common stock. The award will be made pursuant to a Stock Option Agreement in the form and subject to the terms customarily used by FirstMerit, but the terms of which will include the following: the NQSOs will be issued at fair market value on the date of grant; will be exercisable with respect to 5,000 shares on and after the first anniversary of the Commencement Date, an additional 5,000 shares on and after the second anniversary of the Commencement Date, and an additional 12,500 shares on and after the Expiration Date. Notwithstanding the foregoing, all NQSOs under this grant shall vest and become immediately exercisable if Executive's employment is terminated for any reason other than any circumstance described in Section 6.2. Once vested, the NQSOs will remain exercisable for a period ten (10) years from the Commencement Date, notwithstanding that Executive's employment terminates for any reason prior to the end of such period.
Stock Options and Grants. Executive shall continue to be eligible to receive awards of stock options and restricted stock in accordance with the provisions of the FirstMerit Corporation 1997 Stock Plan and the 1999 Stock Plan, as they may be amended or superseded from time to time. The terms of such awards shall be determined by the Compensation Committee and shall be subject to approval by the Board of Directors.
Stock Options and Grants. Executive and the Company shall enter into an agreement whereby, among other things, Executive shall be entitled to receive 340,000 qualified stock options (the “Options”), which shall entitle Executive to purchase 340,000 shares of common stock of the Company priced at the closing price of the stock on the date of grant. The Options shall vest as follows: 1/3 shall vest on the date of this Agreement, 1/3 shall vest on 1st annual anniversary of this Agreement, and 1/3 shall vest on the 2nd annual anniversary of this Agreement. Executive shall be eligible to participate in the Company’s Stock Option and Stock Purchase Plans, as determined in the sole discretion of the Board of Directors. The Board or Compensation Committee of the Board may provide additional awards of stock options or stock grants from time to time or on an incentive plan as deemed appropriate.
Stock Options and Grants. The Board will periodically review Executive’s equity position and in its sole discretion issue stock options to Executive in accordance with the company stock option program which will be adopted by the Board.
