Stock Options and Restricted Stock Grants. The Executive shall be eligible for additional stock options and restricted stock grants under any of the Company’s stock option and restricted stock plans in an amount recommended by the Management Development and Compensation Committee and approved by the Board of Directors. Such options and/or grants shall be subject to the terms and conditions of the applicable standard stock option and restricted stock plans and agreements adopted by the Company.
Stock Options and Restricted Stock Grants. The Executive shall be eligible for additional stock options and restricted stock grants under any of the Company’s stock option and restricted stock plans in an amount determined by the Management Development and Compensation Committee, subject to approval by the Board of Directors, and which is commensurate with the level of option awards and stock grants made to other senior Executives of the Company. Such options and/or grants shall be subject to the terms and conditions of the applicable standard stock option and restricted stock plans and agreements adopted by the Company.
2. Paragraph (e) of Section 3 is amended to read as follows:
Stock Options and Restricted Stock Grants. As a material inducement to Executive’s entering into employment with the Company, the Company is granting to Executive as inducement grants under NASD Rule 4350(i)(1)(A)(iv), effective as of the Effective Date, (1) a non-qualified stock option to purchase 400,000 shares of the Company’s common stock at an exercise price equal to the closing price of the common stock on Nasdaq on the trading day immediately preceding the Effective Date, and (2) a restricted stock grant of 100,000 shares of the Company’s common stock, for which the Executive must pay an initial price of $.01 per share (together, the “Initial Grants”). The terms of these stock options are specified in a Notice of Grant being issued to Executive and the Company’s 2005 Inducement Grant Stock Incentive Plan, and the terms of these shares of restricted stock are specified a Restricted Stock Agreement between the Company and Executive, a Notice of Grant being issued to Executive, and in the Company’s 2005 Inducement Grant Stock Incentive Plan (collectively, the “Equity Documents”). The forms of the Equity Documents are attached as Exhibits A-1 through A-4 to this Agreement. The Initial Grants are also subject to certain provisions of this Agreement, and the Agreement re Specified Acts being entered into between the Company and Executive concurrently with this Agreement in the form of Exhibit B to this Agreement (the “Agreement re Specified Acts”). The Initial Grants are considered to be multiple-year awards and thus regular additional annual equity awards should not be anticipated even if other executives receive annual equity awards.
Stock Options and Restricted Stock Grants. The Employee shall be entitled to receive stock options and restricted stock grants under the Company's plans in effect from time to time, if any, commensurate with his position with the Company and the evaluations of his performance by the Board of Directors or any appropriate committee thereof.
Stock Options and Restricted Stock Grants. Effective upon the Employee’s Start Date, the Company shall grant to Employee certain restricted stock shares and stock options, pursuant to the Company’s 2006 Incentive Stock Plan, as hereinafter set forth.
(a) The Company shall grant to Employee 30,000 shares of restricted stock which shall vest 100% on the first anniversary of Employee’s Start Date, provided she is still employed by the Company on such anniversary date.
(b) The Company shall grant to Employee an option to purchase 200,000 shares of the Company’s common stock (“Stock”) which shall have an exercise price equal to the closing price of the Stock on the date of the grant, and shall vest over four years, with one-fourth vesting on each anniversary date of the grant, provided she is still employed by the Company on such anniversary date.
(c) The Company shall grant to Employee an additional option to purchase 200,000 shares of Stock which shall have an exercise price equal to the closing price of the Stock on the date of the grant, and shall vest over four years, with one-fourth vesting on each anniversary date of the grant provided she is still employed by the Company on such anniversary date; further provided, however, the option to purchase such Stock to the extent so vested shall only be exercisable, in whole or in part, if any of the following performance criterion are satisfied: Employee’s Initials: 3
(i) If the Stock price maintains an average of $20.00 per share for twenty (20) consecutive trading days, then Employee shall have the right to the extent her right to exercise the option is then vested to purchase 66,668 shares of the Stock;
(ii) If the Stock price maintains an average of $25.00 per share for twenty (20) consecutive trading days, then Employee shall have the right to the extent her right to exercise the option is then vested to purchase 66,666 shares of the Stock;
(iii) If the Stock price maintains an average of $30.00 per share for twenty (20) consecutive trading days, then Employee shall have the right to the extent her right to exercise the option is then vested to purchase 66,666 shares of the Stock. Once a performance criterion has been satisfied, Employee shall have the right to exercise her option if, and when, her right to exercise the option vests without regard to any decline in the average price per share following the satisfaction of such criteria. To the extent that any or all of the foregoing performance criteria are not satisfied by the fifth (5th) anniversa...
Stock Options and Restricted Stock Grants. (a) The Company shall use its commercially reasonable efforts to obtain, not later than 20 days after the date hereof, from each holder of outstanding options (whether or not then exercisable or vested) to acquire Company Common Stock granted under the Company's 1993 Restricted Stock and Stock Option Plan, as amended, and all other plans, agreements and arrangements providing for equity-based compensation to any director, Employee, consultant or independent contractor of the Company or any of their subsidiaries as described in Schedule 2.5 of the Company Disclosure Schedule (collectively, the "Company Stock Plans"), (each, a "Company Stock Option" and collectively, the "Company Stock Options"), an executed agreement substantially in the form described in Schedule 2.5 to the Company Disclosure Schedule (each, an "Optionee Consent Letter"), in each case providing that (i) immediately prior to the Effective Time each Company Stock Option held by such holder shall become fully vested and immediately exercisable, (ii) at the Effective Time each then outstanding Company Stock Option shall at the Effective Time be cancelled and void, (iii) in consideration of such vesting and cancellation, immediately prior to the Closing each Company Stock Option shall thereupon represent for all purposes under the relevant Company Stock Plan and all grant and award instruments and agreements governing and evidencing such holder's Company Stock Option(s) only the right to receive from Rose Managers, Inc., a subsidiary of the Company, (subject to Section 2.3(g) and Section 2.1(c)) such amount of cash equal to, for each Company Stock Option, the product of (x) the number of shares of Company Common Stock subject to the Company Stock Options held by such holder and (y) the excess (to the extent a positive number (i.e. - where the REIT Merger Consideration is in excess of the applicable exercise price of the Company Stock Option) of the REIT Merger Consideration over the then applicable per share exercise price of each such Company Stock Option (such amount of cash being so paid in full settlement of and in consideration for cancellation of each such Company Stock Option being hereinafter referred to as the "Option Consideration"), payable as provided in Section 2.5(b), and (iv) from and after the Effective Time, except as provided in this Section 2.5, such holder shall not have any rights or benefits under any Company Stock Plan or Company Stock Option (or any grant or award letter...
Stock Options and Restricted Stock Grants. Xx. X'Xxxx shall receive such options to purchase the common stock of the Company, or such grants of restricted stock of the Company, if any, as shall be granted by the Compensation Committee, in its discretion, pursuant to the Company's 1999 Omnibus Stock Incentive Plan or any other stock option plan which may be applicable. The grant to be made simultaneously with the execution of this Agreement is set forth on Exhibit B which is attached hereto and incorporated herein by this reference.
Stock Options and Restricted Stock Grants. All stock options awarded to you that have vested and are exercisable as of December 31, 2010 will continue to be exercisable in accordance with their respective terms and the terms of the Company’s 2007 Stock Incentive Plan. On the day after the Separation Date, all unvested restricted stock grants will terminate. Attached as Schedule 1 is a list of stock options and restricted stock grants held by you.
Stock Options and Restricted Stock Grants. Upon the Commencement Date, the Company will grant to the Executive (1) a non-qualified stock option to purchase 400,000 shares of the Company’s common stock at an exercise price equal to the closing price of the common stock on Nasdaq on the Commencement Date and (2) a restricted stock grant of 100,000 shares of the Company’s common stock, for which the Executive will pay an initial price of $.01 per share, both such grants to vest over a period of five years, and to be substantially in the forms of Exhibit B and Exhibit C attached hereto. These grants will be “inducement grants” under Nasdaq rules and as such will be made outside of the Company’s existing equity incentive plan.
Stock Options and Restricted Stock Grants. The Company confirms that, pursuant to the provisions of the Company’s 1993, 2002 and 2007 Stock Plans, the termination of Employee’s employment will be treated as a “retirement” for the purposes of such plans and that, as a consequence, all unvested stock options and all unvested restricted stock grants of Employee shall vest in full on the Termination Date to the extent not already vested and the stock options shall be exercisable for the balance to the remaining term of the respective stock option agreement, i.e. until the expiration date stated in the respective option. The award to Employee under the restricted stock unit agreement dated June 28, 2000, as amended and restated as of December 1, 2003, shall be provided to Employee pursuant to the terms of said agreement and nothing contained in this Agreement is intended to amend or modify the terms thereof.
