Examples of Legacy Stock Option Plan in a sentence
Stock-Based Compensation In 2008, the Board of Directors adopted and the Company’s shareholders approved the Legacy Stock Option Plan (“the Legacy Option Plan”).
In connection with the IPO, 159,468,329 options issued and outstanding under the Legacy Stock Option Plan (before exchange ratio restatement) with an exercise price of $1.00 (both of which are on a pre-converted basis) vested in accordance with the terms of the Legacy Stock Option Plan.
At completion of the IPO, there were no options outstanding under the Legacy Stock Option Plan and such plan was terminated.Unless otherwise determined by the Board of Directors, the Legacy Option Shares will be held by a trustee in trust or in escrow on behalf of the legacy option holders.
For further details of the terms of the Legacy Plan see Executive Compensation - Incentive Plans – Legacy Stock Option Plan above.At this meeting, Shareholders will be asked to consider, and if thought advisable, approve an amendment to the Legacy Plan to permit options to be extended in the event that they would otherwise expire during, or in the case of non-US optionees, within, 10 days following the expiry of a blackout period.
Any potential payments and benefits due upon a qualifying termination of employment or a change of control are further described below.Michael Greenley, Chief Executive Officer and Director Mr. Greenley’s employment agreement provides for base salary, an annual performance bonus, participation in the Legacy Stock Option Plan and benefits.
Stock-based compensation In 2008, the Board of Directors adopted and the Company’s shareholders approved the Legacy Stock Option Plan (“the Legacy Option Plan”).
Vito Culmone, Chief Financial Officer Mr. Culmone’s employment agreement provides for base salary, a signing bonus, an annual performance bonus, participation in the Legacy Stock Option Plan, and benefits.
Amer Khouri, Vice President, Satellite Systems Mr. Khouri’s employment agreement provides for base salary, a signing bonus, an annual performance bonus, participation in the Legacy Stock Option Plan, a relocation allowance and benefits.
Components of Compensation The compensation of the Company’s executive officers includes three major elements: (a) base salary, (b) short-term incentives, and (c) long-term equity incentives, consisting of stock options granted under the Legacy Stock Option Plan (until the number of options available for issuance thereunder have been granted) and the Omnibus Plan.
Effective as of the date of this Agreement, the Legacy Stock Option Plan shall be amended to delete Section 11 therein but will otherwise remain effective and be maintained by BHLB as of the Effective Time, subject to any required BHLB stockholder approval.