The Grants. (a) Subject to the conditions set forth herein, the Company hereby grants to Employee, effective as of January 27, 1999 (the "First Option Grant Date"), as a matter of separate inducement and not in lieu of any salary or other compensation for Employee's services, the right and option to purchase (the "First Option"), in accordance with the terms and conditions set forth herein, an aggregate of 583,333 shares of Common Stock (the "First Option Shares"), at the First Option Exercise Price. The First Option is intended to constitute a Non-Qualified Stock Option; however, Employee should consult with Employee's tax advisor concerning the proper reporting of any federal, state or foreign tax liability that may arise as a result of the grant or exercise of the First Option.
(b) Subject to the conditions set forth herein, the Company hereby grants to Employee, effective as of March 19, 1999 (the "Second Option Grant Date"), as a matter of separate inducement and not in lieu of any salary or other compensation for Employee's services, the right and option to purchase (the "Second Option"), in accordance with the terms and conditions set forth herein, an aggregate of 2,868 shares of Common Stock (the "Second Option Shares"), at the Second Option Exercise Price. The Second Option is intended to constitute a Non-Qualified Stock Option; however, Employee should consult with Employee's tax advisor concerning the proper reporting of any federal, state or foreign tax liability that may arise as a result of the grant or exercise of the Second Option.
The Grants. (a) Subject to the conditions set forth herein, the Company hereby grants to you, effective as of January 27, 1999 (the "First Option Grant Date"), as a matter of separate inducement and not in lieu of any salary or other compensation for your services, the right and option to purchase (the "First Option"), in accordance with the terms and conditions set forth herein and in the Plan, an aggregate of 583,333 shares of Common Stock (the "First Option Shares"), at the First Option Exercise Price. You should consult with your tax advisor concerning the proper reporting of any federal, state or foreign tax liability that may arise as a result of the grant or exercise of the First Option.
(b) Subject to the conditions set forth herein, the Company hereby grants to you, effective as of March 19, 1999 (the "Second Option Grant Date"), as a matter of separate inducement and not in lieu of any salary or other compensation for your services, the right and option to purchase (the "Second Option"), in accordance with the terms and conditions set forth herein and in the Plan, an aggregate of 2,868 shares of Common Stock (the "Second Option Shares"), at the Second Option Exercise Price. You should consult with your tax advisor concerning the proper reporting of any federal, state or foreign tax liability that may arise as a result of the grant or exercise of the Second Option.
The Grants. Section 2.01. (a) ADB agrees to make available to the Recipient from ADB’s Special Funds resources an amount of ten million Dollars ($10,000,000); and
The Grants in-aid program was developed and executed in 2004. Monitoring and management of projects will continue through 2007. Demonstration Field Days.—Demonstration field days were required components (deliverable) in the subcontracts. Field Day guidelines were sent to each principal investigator in early January 2006. Principal investigators may elect to hold the field day in either 2006 or 2007.
The Grants. 3.01. The Bank agrees to extend to the Recipient, a grant in an amount not to exceed one million six hundred thousand United States Dollars ($1,600,000) (“Grant”) to assist in financing Part 1 of the Project.
3.02. The Recipient may withdraw the proceeds of the Grants in accordance with Section III of Schedule 2 to this Agreement.
3.03. The Grant is funded out of the abovementioned trust fund for which the Bank receives periodic contributions from the donors to the trust fund. In accordance with Section 3.02 of the Standard Conditions, the Bank’s payment obligations in connection with this Agreement are limited to the amount of funds made available to it by the donors under the abovementioned trust fund, and the Recipient’s right to withdraw the Grant proceeds is subject to the availability of such funds.
