Stock Options and Other Benefits Sample Clauses

Stock Options and Other Benefits. In the event that the Executive is terminated for reasons other than for "cause" or in the event the Executive terminates this Agreement for "good reason", any stock options then held by the Executive and/or any other benefits subject to specified vesting criteria, shall immediately vest in the Executive; provided, however, all stock options then held by the Executive and/or any other benefits subject to specified vesting criteria shall expire and/or terminate 90 days after the date this Agreement is terminated pursuant to subsections 8(a)(i) or 8(b). The Company agrees to take such steps and to execute such documents as shall be necessary to effectuate the foregoing.
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Stock Options and Other Benefits a. SunLink has granted or shall grant to Executive, five-year options to purchase a total of 75,000 shares of the common stock of SunLink. Such grant is or shall be effective as of the date of grant as determined by the Board of Directors of SunLink. The options granted or to be granted pursuant and subject to such stock option plan were approved by SunLink's shareholders at their 2001 annual meeting at an exercise price per share equal to the closing sale price of SunLink's common stock on the American Stock Exchange (or such other exchange or system where such Shares are listed) as of the date of grant. The options so granted shall vest 25% one the first through fourth anniversaries of the date of grant. b. In addition to participating in the option plan pursuant to Section 4(a), Executive shall during the term of Executive's employment be eligible to participate in any additional employee stock option plan or arrangement adopted by SunLink which includes senior SunLink officers and to receive additional grants of options under such plans in such numbers and at such exercise prices as the Board of Directors of SunLink shall determine in its discretion. c. The Executive shall participate in all retirement, welfare, deferred compensation, life and health insurance, and other benefit plans or programs (exclusive of those benefits referenced in Sections 4(e), 4(f), 4(g.), and 4(h) of the 2001 Agreement) of SunLink now or hereafter applicable to a class of employees that includes senior executives of SunLink on such basis as the Board of Directors of SunLink shall from time to time determine; provided, however, that during which the Executive is subject to a Disability, and during the 90-day period of physical or mental infirmity leading up to the Executive's Disability, the amount of the Executive's compensation provided under this Section 4 shall be reduced by the sum of the amounts, if any, paid to the Executive for the same period under any disability benefit or pension plan of SunLink, SunLink or any subsidiary thereof. d. SunLink shall provide supplemental term life insurance coverage equal to $300,000. e. The Executive shall receive twenty (20) days paid vacation each year. Unused vacation may not be carried over to subsequent years.
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Stock Options and Other Benefits. In the event that Xxxxxxxxxx is terminated for reasons other than for "cause" or in the event Xxxxxxxxxx terminates this Agreement for "good reason", any stock options then held by Xxxxxxxxxx and/or any other benefits subject to specified vesting criteria, shall immediately vest in Xxxxxxxxxx; provided, however, all stock options then held by Xxxxxxxxxx and/or any other benefits subject to specified vesting criteria shall expire and/or terminate 90 days after the date this Agreement is terminated. The Company agrees to take such steps and to execute such documents as shall be necessary to effectuate the foregoing.
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Stock Options and Other Benefits. At the board's discretion, incentives may be granted after the start date and are subject to this agreement
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Stock Options and Other Benefits. Only those stock option shares vested as of the Termination Date, shall be vested, and all unvested shares are hereby forfeited. Employee shall not be eligible for future stock option grants after the Termination Date. Employee must exercise the option on vested shares within 90 days of the Termination Date or the option will terminate. The termination of Employee’s employment shall not in any way modify or otherwise
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Stock Options and Other Benefits. 3.1 Non-Qualified Stock Options --------------------------- 3.1.1 As additional compensation to the Executive, the Company hereby grants to the Executive options to purchase up to One Hundred Twenty Thousand (120,000) shares of the Company's common stock (the "Options"), subject to the provisions set forth in this Section 3.1. 3.1.2 The grant of the Options to the Executive is subject to (i) the approval of the Company's board of directors; (ii) compliance with the Amended and Restated 1998 Equity Participation Plan of Intellisys Group, Inc. (the "Plan"); and (iii) the Executive's agreement to be bound by and his execution of the standard form of Non-Qualified Stock Option Agreement (the "Option Agreement"). 3.1.3 Subject to the provisions set forth in section 3.1.2 above, the Options shall vest in five (5) equal annual installments with the first installment vesting on January 4, 2000. 3.1.4 The Options shall have an exercise price equal to the lesser of (i) Nine Dollars and Fifty Cents per share ($9.50) or (ii) the "Public Offering Price" per share in an initial underwritten public offering of the Company's common stock that occurs on or prior to October 16, 1999 (the "Initial Public Offering").
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Stock Options and Other Benefits. (a) In the event the Executive is terminated by the Company without Cause or the Executive resigns his employment on account of a Change in Status, all Options and Restricted Stock Awards held by the Executive under the Company’s Stock Option Plans (as defined below in Section 5) shall become fully vested, notwithstanding any terms in the Company’s Stock Option Plans to the contrary. The Executive shall also continue to be provided with Company’s employee medical and dental insurance as is in effect during the Severance Period. Subject to subsection (b) and following the Severance Period, the Executive and his Spouse shall receive extended medical coverage for life, with such coverage equivalent to the coverage they would have been entitled to under such medical insurance plans if Executive had continued to be employed during such period; provided, however, in the event that such coverage cannot be provided, in whole or in part, to the Executive or his Spouse, as a non-employee subsequent to termination of employment, the Company shall instead contribute an amount to the Executive’s privately obtained benefits with comparable coverage for him and his Spouse such that the Executive is not required to pay any more for such benefits than the Executive was required to pay immediately preceding the date of termination. (b) During the Severance Period, the Executive shall be covered under the Company’s short-term and long-term disability and life insurance plans but shall not be entitled to make future deferrals to the Company’s 401(k) Plan or nonqualified Deferred Compensation Plan and shall not accrue any further vacation time. (c) Notwithstanding the provisions of subsection (a) or (b), if the provision of any benefits covered by subsection (a) or (b) would trigger the 20% excise tax and interest penalties under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), then the benefit(s) that would trigger such tax and interest penalties shall not be provided (the “Excluded Benefits”), and in lieu of the Excluded Benefits, the Company shall provide the Executive with a lump sum cash amount equal to the cost to the Company of providing the Excluded Benefits. Such lump sum payment shall be paid as soon as practicable, but no earlier than six months after the Executive’s “separation from service” within the meaning of Section 409A of the Code.
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Stock Options and Other Benefits. Executive shall be entitled to participate in all stock option and other incentive compensation plans of the Company. Awards to Executive pursuant to such stock option and incentive compensation plans shall be in such amounts as the Board, or the Stock Option Committee or Compensation Committee thereof, shall determine in its sole discretion. Executive shall also be entitled to participate in all other programs and benefits provided by the Company to the same extent as other executive officers of the Company.
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Related to Stock Options and Other Benefits

  • Compensation and Other Benefits Subject to the provisions of this Agreement, the Company shall pay and provide the following compensation and other benefits to the Executive during the Term as compensation for services rendered hereunder:

  • Vacation and Other Benefits Each Contract Year, Executive shall be entitled to four (4) weeks of paid vacation in accordance with Employer’s applicable policies and procedures for executive-level employees. Executive shall also be eligible to participate in and receive the fringe benefits generally made available to other executive-level employees of Employer in accordance with and to the extent that Executive is eligible under the general provisions of Employer’s fringe benefit plans or programs; provided, however, that Executive understands that these benefits may be increased, changed, eliminated or added from time to time during the Term as determined in Employer’s sole and absolute discretion.

  • Insurance and Other Benefits During the Employment Period, the Executive and the Executive’s dependents shall be entitled to participate in the Company’s insurance programs and any ERISA benefit plans, as the same may be adopted and/or amended from time to time (the “Benefits”). The Executive shall be entitled to paid personal days on a basis consistent with the Company’s other senior executives, as determined by the Board. The Executive shall be bound by all of the policies and procedures established by the Company from time to time. However, in case any of those policies conflict with the terms of this Agreement, the terms of this Agreement shall control.

  • Expense Reimbursement and Other Benefits (a) During the term of Executive’s employment hereunder, pursuant to Applica’s Travel and Expense Policy and upon the submission of proper substantiation by the Executive, including copies of all relevant invoices, receipts or other evidence reasonably requested by Applica, Applica shall reimburse the Executive for all reasonable expenses actually paid or incurred by the Executive in the course of and pursuant to the business of Applica or any Affiliates. (b) Executive shall participate in Applica’s Group Health and Hospitalization Plan, Group Life Insurance Plan, Group Disability Insurance Plan and all other insurances, or insurance plans (collectively, the “Welfare Benefits”), and executive benefits and bonuses covering Applica’s executive officers as are now or may in the future be in effect, subject to applicable eligibility requirements. Additionally, Applica shall provide the Executive with life insurance in an amount equal to five times his Base Salary. During the Term, Applica shall pay for (i) the Executive’s annual dues in a country club and (ii) tax preparation and financial planning for the Executive on an annual basis up to a maximum of 1% of his base salary. (c) During the Term, Applica shall provide Executive with a monthly automobile allowance of $975. (d) During the Term, the Executive will be entitled to four weeks’ paid vacation for each year. The Executive will also be entitled to the paid holidays and other paid leave set forth in Applica’s policies. Vacation days and holidays during any fiscal year that are not used by the Executive during such Fiscal Year may not be carried over and used in any subsequent Fiscal Year.

  • Executive Perquisites, Benefits and Other Compensation Executive shall be entitled to receive additional benefits and compensation from the Company in such form and to such extent as specified below: (i) Payment of all premiums for coverage for Executive and his dependent family members under health, hospitalization, disability, dental, life and other insurance plans that the Company may have in effect from time to time, benefits provided to Executive under this clause (i) to be at least equal to such benefits provided to Metals executives. (ii) Reimbursement for all business travel and other out-of-pocket expenses reasonably incurred by Executive in the performance of his services pursuant to this Agreement. All reimbursable expenses shall be appropriately documented in reasonable detail by Executive upon submission of any request for reimbursement, and in a format and manner consistent with the Company's expense reporting policy. (iii) The Company shall provide Executive with other executive perquisites as may be available to or deemed appropriate for Executive by the Board and participation in all other Company-wide employee benefits as are available from time to time.

  • Salary and Other Compensation As compensation for the services to be rendered by the Employee to the Company pursuant to this Agreement, the Employee shall be paid the following compensation and other benefits:

  • Effect on Other Benefits In no event shall the value, at any time, of the RSUs or any other payment under this Agreement be included as compensation or earnings for purposes of any other compensation, retirement, or benefit plan offered to employees of the Company or any subsidiary of the Company unless otherwise specifically provided for in such plan. The RSUs and the underlying shares of Common Stock (or their cash equivalent), and the income and value of the same, are not part of normal or expected compensation or salary for any purpose including, but not limited to, calculation of any severance, resignation, termination, redundancy or end-of-service payments, holiday pay, bonuses, long-service awards, leave-related payments, pension or retirement benefits, or similar mandatory payments.

  • No Other Benefits Executive understands and acknowledges that the compensation specified in Sections 2 and 3 of this Agreement shall be in lieu of any and all other compensation, benefits and plans.

  • Other Benefits During the Term, the Executive shall be eligible to participate in or receive benefits under the Company’s employee benefit plans in effect from time to time, subject to the terms of such plans.

  • No Impact on Other Benefits The value of the Participant’s Option is not part of his or her normal or expected compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

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