Stock Options; Restricted Stock Sample Clauses
The "Stock Options; Restricted Stock" clause defines the terms under which an individual may be granted the right to purchase company stock at a set price (stock options) or receive shares that are subject to vesting or other restrictions (restricted stock). Typically, this clause outlines eligibility, vesting schedules, and conditions for exercising options or earning restricted shares, such as continued employment or achievement of performance goals. Its core function is to incentivize employees or service providers by aligning their interests with the company's success, while also clarifying the rules and limitations governing equity compensation.
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Stock Options; Restricted Stock. (a) Each holder of a stock option (a "Company Option") to purchase shares of Company Common Stock pursuant to any of the Company's 1993 Long Term Incentive Plan (the "1993 Plan"), the Company's 1996 Long Term Incentive Plan (the "1996 Plan") or the Company's 1996 Non-Employee Directors Compensation Program (the "1996 Directors Plan" and together with the 1993 Plan and the 1996 Plan, the "Company Stock Option Plans"), which Company Option is outstanding immediately prior to the Effective Time (whether or not then presently exercisable), shall be entitled to receive, and shall receive, in settlement and cancellation thereof, an amount in cash equal to the product of (i) the excess, if any, of the average of the highest and lowest market prices of a Share, as reported on the NYSE on the last trading day immediately prior to the Effective Time (the "Per Share Amount"), over the exercise price of each such Company Option, and (ii) the number of shares of Company Common Stock covered by such Company Option.
(b) Each unvested share of restricted Company Common Stock (a "Restricted Share") granted pursuant to the 1993 Plan or the 1996 Plan, which Restricted Share is outstanding immediately prior to the Effective Time, shall be canceled and the holder thereof shall be entitled to receive in settlement an amount in cash equal to the Merger Consideration.
(c) Each holder of an unvested restricted share unit granted pursuant to the 1996 Directors Plan (a "Restricted Share Unit") which Restricted Share Unit is outstanding immediately prior to the Effective Time, shall be entitled to receive, and shall receive, in settlement and cancellation thereof, an amount in cash equal to the Merger Consideration.
(d) All payments in respect of Company Options, Restricted Share Units and Restricted Shares shall be made as soon as practicable following the Effective Time, but not later than ten days after the Effective Time (the "Payment Time") and no person shall be entitled to receive any of such payments until the Payment Time. The Company Stock Option Plans shall terminate as of the Effective Time. Prior to the Effective Time, the Company shall, to the extent necessary, cause each holder of an outstanding Company Option, Restricted Share or Restricted Share Unit to consent to the cancellation of such Company Option, Restricted Share or Restricted Share Unit in consideration for the payment provided herein, and shall take such other action as may be necessary to carry out the ter...
Stock Options; Restricted Stock. The foregoing benefits are intended to be in addition to the value of any options to acquire Common Stock of the Company, the exercisability of which is accelerated pursuant to the terms of any stock option agreement, any restricted stock the vesting of which is accelerated pursuant to the terms of the restricted stock agreement, and any other incentive or similar plan heretofore or hereafter adopted by the Company.
Stock Options; Restricted Stock. Employee shall be entitled to grants of stock options and restricted stock awards in an amount to be determined by the Compensation Committee in its discretion under the Boston Properties, Inc. 1997 Stock Option and Incentive Plan or any other stock option plan adopted by the Company from time to time (the "STOCK OPTION PLAN").
Stock Options; Restricted Stock. (a) In addition to the compensation described in Section 3.1 and Section 3.2 of this Agreement, the Executive may have the opportunity to receive options to purchase stock or restricted shares of stock of Hanger in a manner consistent with any stock option or restricted share plan adopted by Hanger. The determination as to the amount of stock, if any, to be purchased under such stock option or restricted share plan shall be subject to the sole discretion of the Board of Directors of Hanger or a committee thereof.
(b) As an incentive for the Executive’s future performance in improving shareholder value, the Company granted to the Executive, and the Executive acknowledges receipt of: (i) a special, time-based grant of Three Hundred Thousand Dollars ($300,000.00) worth of restricted shares of Hanger stock (“Special Grant”); and (ii) a grant for the calendar year 2014 of Four Hundred Thousand Dollars ($400,000.00) worth of restricted shares of Hanger stock, half of which is time-based and half of which is performance-based (“2014 Grant”). The vesting schedule for the Special Grant and the 2014 Grant shall conform to the vesting schedule described in Section 3.3(c) of this Agreement and the Stock Agreement (as hereinafter defined). The Special Grant and the 2014 Grant shall be subject to such other terms and conditions as reasonably determined by Hanger’s Board of Directors or a committee thereof, consistent with the terms and conditions of the applicable stock incentive plan and restricted share grant agreement(s).
(c) The options or restricted shares provided in Section 3.3(a) and Section 3.3(b) shall be evidenced by one or more stock option agreements or restricted share grant agreements (each, a “Stock Agreement”) between the Executive and Hanger, which Stock Agreement(s) shall provide for a vesting schedule of four (4) years, in equal parts, of the options or restricted shares granted thereunder. Notwithstanding any provisions now or hereafter existing under any stock incentive plan of Hanger, all options or restricted shares granted to the Executive shall vest in full immediately upon the Termination Date except for termination of employment pursuant to Section 4.3 or Section 4.5 hereof, and the Executive (or his estate or legal representative, if applicable) shall thereafter have twelve (12) months from such Termination Date to exercise such options, if applicable.
(d) Notwithstanding any provisions now or hereafter existing under any stock option plan o...
Stock Options; Restricted Stock. During the Term, Employee shall be eligible to participate in such other stock option, restricted stock or other equity-based incentive plans, including any plans contemplating the potential grant of incentive stock options, non-qualified stock options, restricted stock, or various other equity based awards, that may be adopted by the Company from time to time; provided, however, that nothing herein shall be deemed to entitle Employee to any specific benefit grant or award (any such grant or award to be solely discretionary with the Board, upon the recommendation of the Compensation Committee) or to limit the Board’s discretion to adopt, amend or terminate any plan or program.
Stock Options; Restricted Stock a) At the Effective Time, each option to acquire shares of Seller Common Stock (a "SELLER OPTION"), whether or not then vested, granted pursuant to the Seller's Amended 1995 Stock Option Plan (the "SELLER OPTION PLAN") that is then outstanding and unexercised shall be deemed vested and exercisable, whether or not then exercisable, and shall be canceled and terminated and in lieu thereof the holders of such options shall be paid by Seller or Seller S&L in cash (from funds provided by Buyer if necessary) in an amount equal to the product of (i) the number of shares of Seller Common Stock subject to such unexercised option at the Effective Time and (ii) the amount by which the Merger Consideration per share exceeds the exercise price per share of such option net of any cash which must be withheld under federal and state income and employment tax requirements. In the event that the exercise price of a Seller Option is greater than the Merger Consideration, then at the Effective Time such Seller Option shall be canceled without any payment made in exchange therefor. At the Effective Time, the Seller Option Plan shall be deemed terminated.
b) Inasmuch as at the Effective Time, all shares of restricted Seller Common Stock (the "SELLER RESTRICTED STOCK"), held under the Seller's Recognition and Retention Plan (the "SELLER RESTRICTED STOCK PLAN") are to be canceled and the Merger Consideration in respect of such shares to be paid to the holders thereof, the Seller Restricted Stock Plan shall be deemed terminated as of the Effective Time.
Stock Options; Restricted Stock. All future grants of stock options or restricted stock to employees or consultants shall be approved by the Board of Directors or the Compensation Committee of the Board of Directors, shall have a four year vesting schedule with a cliff vesting of 25% on the one year anniversary of the date of grant and further vesting of 6.25% per quarter thereafter for the remaining term (unless otherwise agreed to by the Compensation Committee of the Board of Directors) and shall be conditioned upon the grantee agreeing to be bound by the terms of an option and/or stock agreement containing first refusal rights of the Company with respect to transfers of such stock or options, “lock-up” provisions upon terms as determined by the Compensation Committee of the Board of Directors prohibiting such employee, director or consultant from selling or otherwise transferring such stock or options for a certain period of time in connection with a public offering of Common Stock by the Company.
Stock Options; Restricted Stock. In addition, Executive may be awarded stock options, restricted stock awards and other equity compensation awards by Gen-Probe’s Compensation Committee, with such terms and conditions as the Compensation Committee may determine in its sole discretion.
Stock Options; Restricted Stock. Except as may be expressly provided for in writing with respect to any one or more stock options granted after the date hereof, all stock options granted to Executive under any of Employer's Plans shall become immediately exercisable (and vest) as of the Termination Date.
Stock Options; Restricted Stock. Upon the Date of Termination, when Executive is terminated without Cause or for Good Reason (i) all options to purchase stock of the Corporation held by Executive shall become immediately exercisable as to all shares of stock which are subject thereto and shall remain exercisable for the remainder of the term thereof and (ii) any contractual restrictions including, but not limited to, risks of forfeiture with respect to stock of the Corporation held by Executive shall immediately terminate.