Stock Options Plan. During the Employment Term, Executive shall be eligible to receive Stock Options grants under the Company’s Incentive Stock Option Plan when granted each calendar year (“Stock Options”) in an amount determined and approved by the Board (or Compensation Committee should the Board delegate such determination) in its sole discretion. Executive must be employed on the date that Stock Options are granted in order to participate. Stock Options have previously been awarded Executive for calendar year 2016.
Stock Options Plan. The Company shall have effectively adopted a Stock Option Plan substantially in the form attached hereto as Exhibit D and shall have made the grants and entered into grant agreements in form and substance acceptable to Purchaser with each of the individuals listed in Schedule 4.9. Purchaser agrees to indemnify and hold harmless the Seller, its parent company, their respective officers and directors of the Company holding such office on the date hereof from and against all losses, expenses and damages that they incur as a result of adopting said plan and making the grants contemplated by this Section 6.8.
Stock Options Plan. The Company shall issue stock options to Executive pursuant to the Company's Stock Option Plan or any successor thereto. Upon execution of this agreement, Employer shall issue to Executive an option to purchase 700,000 of common stock priced at $0.62 (October 1st, 2003 closing stock price) per share, exercisable for a period of 5 years and shall vest and become exercisable on July 1, 2005 regardless of Executive's employment status with the Company. In the event of the Company carrying out a "rights offering" of its stock, the Company shall issue Executive additional stock options as an anti-dilution measure to provide the same percentage as prior to the offering.
Stock Options Plan. The Company shall issue stock options to Executive pursuant to the Company's Stock Option Plan or any successor thereto. Upon execution of this agreement, Employer shall issue to Executive an option to purchase The number of stock options issued to the Executive in 2001 upon execution of this agreement will be one million shares of common stock priced at with a strike price of $0.25 per share, exercisable for a period of 5 years (2001 Options). 500,000 of the 2001 Options shall vest upon execution of this agreement and be exercisable immediately, but Executive agrees not to sell these options for a period of one year from the date of this agreement. The remaining 500,000 options of the 2001 Options shall vest and be exercisable one year from the date of this agreement, provided this agreement has not been terminated in accord with paragraph 6. In the event of the Company carrying out a "rights offering" of its stock, the Company shall issue Executive additional stock options as an anti-dilution measure to provide the same percentage as prior to the offering.
Stock Options Plan. You and I will continue to work out the details of your stock based on your Employment Agreement with ClearBlue Technologies Management dated June 6, 2002.
Stock Options Plan. (a) After the Closing, the Buyer shall reserve options to purchase a number shares of Buyer Stock equal to the product of the Baseline EBITDA and 0.2 (each, a “Buyer Option”) for employees of Whitbread following the Closing.
(b) The number of Buyer Options reserved for employees of Whitbread following the Closing shall be increased by 0.2 Buyer Options for each $1.00 that the EBITDA generated by Whitbread following the Closing during the first Performance Period exceeds the Baseline EBITDA for the first Performance Period, such increase to become effective within 30 days of the delivery of the Annual Financial Statements pursuant to Section 8.4 hereof.
(c) All material terms and conditions of the Buyer Options, including the expiration dates and vesting schedules, shall be determined by the Executive Committee of the Buyer, subject to ratification by the Board of Directors of the Buyer.
(d) The Executive Committee of the Buyer shall review on an annual basis the number of Buyer Options available for grant to Whitbread’s employees and reserve additional Buyer Options for grant to Whitbread’s employees if the Executive Committee shall determine, in its sole discretion, that reservation of additional Buyer Options is appropriate.
Stock Options Plan. The Company acknowledges and agrees that in the first quarter of fiscal year 2003 it will establish a incentive stock option plan for key management members with a commitment of shares of Common Stock of the Company equal to five to seven percent of the total issued and outstanding Common Stock.
Stock Options Plan. The Company shall issue stock options to Executive pursuant to the Company's Stock Option Plan or any successor thereto. With respect to the options granted, Cliff provisions apply and the options shall stand for 2 years following Employee's departure from his position as Executive and, in addition, for as long as he serves as Director. Further, such options shall have anti-dilution protection as well as piggyback registration rights. The stock options shall be issued to Executive in accord with the schedule set forth below:
a) On January 1, 2002, 200,000 options with an exercise price of $0.50;
b) On January 1, 2002, 200,000 options with an exercise price of $1.50; and
c) Upon the date when the Company's stock trades over $5.00 for thirty (30) consecutive days, 400,000 options with an exercise price of $1.50.
Stock Options Plan. (a) There shall be established for the Company an employee stock option plan with 3,500 shares reserved for issuance thereunder, of which 2,500 shares shall be granted pursuant to this Section 6.2.
(b) On July 31, 1997, the Manager shall be granted options ("Options") to purchase 2,500 shares of the Company's Common Stock at an exercise price of $0.01 per share. The Options shall vest as follows: 50% on July 31, 1998, 50% on July 31, 1999 and shall be exercisable for a period of five (5) years from July 31, 1997. However, in the event the Employment Agreement is terminated for cause or the employee resigns from the employment of the Company, the vested options shall be exercisable for a period of three (3) months from the date of termination or resignation.
(c) The Options shall contain anti-dilution protection, such that the Company may not issue additional Shares, other than as contemplated herein, for less than fair market value consideration being paid for such Shares and shall also be adjusted proportionately for stock dividends, stock splits, corporate combinations, corporate subdivisions and other similar recapitalizations.
Stock Options Plan
