Option Grants definition

Option Grants means the following grants of stock options to purchase common stock of the Company, par value $.001 per share (“ Common Stock”), which are subject to time-based vesting as set forth in the applicable option agreements:

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Option Grants. The initial grant of stock options to Executive in connection with the Commencement Date will be a function of Executive’s direct investment in the Company, such that for each share of Common Stock purchased by Executive, he will receive an option covering an additional four shares of Common Stock (the “Base Option Grant”). All options granted at the Commencement Date shall have an exercise price equal to the Base Price. All other options granted after the Commencement Date shall have an exercise price equal to the Fair Market Value (as hereinafter defined) on the applicable date of grant (barring any unforeseen circumstances it is anticipated that the exercise price of options granted in 2006 will continue to be the Base Price). All of the Base Option Grant will be subject to time vesting, such that, subject to Executive’s continued employment, the Base Option Grant will vest and become exercisable as to 33. % of the shares subject to the Base Option Grant on each of the first three anniversaries of the Commencement Date; provided, however, if Executive’s employment is terminated at any time by the Company without Cause, by the Executive for Good Reason or due to Executive’s death or Disability, then a pro rata portion (based on the number of whole or partial months of employment since the preceding anniversary of the Commencement Date divided by 12) of the Base Option Grant that would have vested on the next succeeding anniversary of the Commencement Date after the employment termination date, shall vest and become exercisable.

Option Grants has the meaning set forth in Section 5.23.

Examples of Option Grants in a sentence

• The options issued or to be issued under the Outstanding Option Grants shall continue to be subject to the terms of the Option Agreements, except to the extent otherwise provided for in this Agreement.

• Upon the Executive’s retirement, all unvested Stock Option Grants, Restricted Stock Awards or other equity granted to the Executive shall become fully vested as of the date of termination regardless of the vesting schedule associated with such equity grants.

• In addition, all unvested Stock Option Grants, Restricted Stock Awards or other equity granted to the Executive shall become fully vested as of the date of termination regardless of the vesting schedule associated with such equity grants.

• As more fully specified in the Stock Option Grants, the number of shares covered by, and the option price per share of, the Stock Options will be subject to adjustment by the Company for any stock split, reclassification, combination or similar change in the Company's capital stock.

• Additionally, attached hereto is a copy of the 1995 Equity Incentive Plan ("EIP"), as modified and amended, which covers the standard terms and conditions of Option Grants to our Company's associates.

• The Company has issued to the Employee options to purchase shares of the Company's Common Stock pursuant to the terms of various Option Agreements and the terms of the Company's 1998 Stock Incentive Plan (the "Outstanding Option Grants").

• In the event that (i) the Company consummates a Change in Control (as defined below), and (ii) the Stock Option Grants are not otherwise vested, then one hundred percent (100%) of remaining shares subject to the Stock Option Grants shall vest in full on the date immediately prior to the effective date of the Change in Control, subject to your continuous employment through such vesting date.

• Employee previously executed Stock Option Agreement(s) by which Employee has been granted the right to purchase shares of common stock of Employer at a stated exercise price as per the terms and conditions of the HighwayMaster Communications, Inc.(f/k/a HM Holding Corporation) 1994 Stock Option Plan (the "Plan")(such previous option grants hereinafter referred to as "Previous Stock Option Grants").

• Each year during the Employment Period, the Executive shall be entitled to a grant or grants of stock options (the "Option Grants") as determined by the Board of Directors of Parent in its sole discretion.

• Notwithstanding the terms of the Plan and the Stock Option Agreements previously executed by Employee and Employer, upon the occurrence of a Change in Control as defined in Paragraph 7 of this Agreement, all stock options issued pursuant to the Previous Stock Option Grants shall accelerate and be deemed vested on the day prior to the Change in Control of Employer.

More Definitions of Option Grants

Option Grants. Option Exercises and Fiscal Year End Values," "Stock Option Plans"; "Certain Transactions"; "Description of Capital Stock", and have compared such amounts, percentages and financial information with such records of the Company and its consolidated subsidiaries and with information derived from such records and have found them to be in agreement, excluding any questions of legal interpretation. In the event that the letters referred to above set forth any such changes, decreases or increases, it shall be a further condition to the obligations of the Underwriters that (I) such letters shall be accompanied by a written explanation of the Company as to the significance thereof, unless the Representatives deem such explanation unnecessary, and (II) such changes, decreases or increases do not, in the sole judgment of the Representatives, make it impractical or inadvisable to proceed with the purchase and delivery of the Shares as contemplated by the Registration Statement, as amended as of the date hereof. References to the Registration Statement and the Prospectus in this paragraph (d) with respect to either letter referred to above shall include any amendment or supplement thereto at the date of such letter.

Option Grants. CTRC hereby grants the following options to ILEX: 2

Option Grants means, as of the Separation Date, the options you hold to purchase shares of the Company’s common stock granted or assumed under the Plan pursuant to the terms thereof and stock option agreements (collectively, the “Option Agreements”) between you and the Company dated as of the dates set forth, and as further described, on Annex I hereto. If you breach any of the Restrictive Covenants (other than any immaterial and unintentional breach by you of the confidentiality obligations set forth in Section 4.11 of the Employment Agreement), in addition to any other remedies the Company may have, the Company will have no obligation to continue to pay or provide any of the compensation or benefits described in this Section 2 and you must immediately repay to the Company any amounts paid under this Section 2 after such breach occurred. Except as explicitly described in this Agreement, you acknowledge and agree that you are not entitled to any other compensation (including without limitation commissions, bonuses, or payment for unused vacation or other paid time off), severance, benefits, or other benefits or payments in connection with your employment or other relationship (or the termination of your employment or other relationship) with the Company or any of its Affiliates, and the Released Parties (as defined below) shall have no liability or obligation to you in excess of the amounts explicitly specified in this Agreement.