Bonus Option definition
Examples of Bonus Option in a sentence
In this regard it is hereby acknowledged and agreed by the Parties hereto that, unless otherwise agreed to or finally determined by arbitration in accordance with Article "8" hereinbelow, should the Effective Termination Date hereunder be prior to the end of the Initial Term, the Cancellation of the Residual Bonus Option shall then be deemed to have occurred on the Effective Termination Date in the manner as set forth in section "3.3" hereinabove.
The IPO Bonus Option shall vest ratably on a daily basis over the period beginning on the date the IPO Bonus Option is granted pursuant to this Section 5(b) and ending on the fifth anniversary of such date.
Notwithstanding the foregoing provisions of this Section 5, the IPO Bonus Option, the Initial Annual Option, the Annual Options and any other stock options granted to the Employee by the Company (collectively, "the Options") shall vest fully upon the termination of the Employee's employment for circumstances described in clause (i), (iv) or (v) of the definition of Good Reason.
Notwithstanding the foregoing, however, the amount of any Success Fee payable to you shall be reduced dollar- for-dollar by any Aggregate Gross Proceeds actually paid to you pursuant to such Covered Transaction by reason of your equity position in Ambit, whether by common stock ownership, the exercise or cash-out of stock options or otherwise, including but not limited to any Bonus Option Substitute Benefits (as defined in the Employment Agreement), if applicable.
The Signing Bonus Option shall be granted under the Plan pursuant to the Company’s standard form of stock option agreement.
The ▇▇▇▇▇ ▇▇▇▇▇ of the Signing Bonus Option shall be the closing sales price of the Company's common stock on February 29, 2008 as quoted on the OTC Bulletin Board, or if there is no closing sales price on that date, the closing selling price on the last preceding date for which such quotation exists.
Section 5(f) shall automatically cease to apply to the portion of the Option covering Bonus Option Shares upon and following the occurrence of any Change in Control occurring after the second anniversary of the Effective Date (other than with respect to any tranches of the Option covering Bonus Option Shares which the Committee affirmatively determined not to vest pursuant to its authority under Section 5(f) prior to the occurrence of such Change in Control).
In addition, all exercisable Options, 2000 Bonus Option and Annual Bonus Options shall expire 90 days after the Termination Date.
Any Bonus Payment that becomes payable pursuant to this Section 4.2 shall be credited with interest at the rate of 5% per annum from the date the Bonus Option is granted until such Bonus Payment is paid, with such interest credits being cumulative and compounding semi-annually.
The number of shares of Common Stock that would be issuable under a Bonus Option shall be proposed by the Compensation Committee to the Board of Directors and shall take into account Executive’s actual performance relative to his accomplishments in the area of business development.