The Initial Option. (i) shall have an exercise price equal to 100% of the Fair Market Value of the Common Stock on the date on which the Stock Option grant is approved by the Board or the Committee. (ii) shall become vested/exercisable at a rate of 1/36th per month for a vesting period of thirty six (36) months for as long as Executive remains employed by the Company; provided, however, that the Initial Option shall immediately become 100% vested/exerciseable upon a Termination of Employment by reason of the death or Disability, a Termination Without Cause, a Termination for Good Reason, or a Change of Control.
Appears in 4 contracts
Samples: Employment Agreement (Augme Technologies, Inc.), Employment Agreement (Augme Technologies, Inc.), Employment Agreement (Augme Technologies, Inc.)
