Common use of Distribution of Stock Options Clause in Contracts

Distribution of Stock Options. The Board of Directors shall based on proposal of the Chairman of the Board and the CEO during year 2019 decide upon the distribution of stock options (the persons entitled to subscribe stock options and the maximum amount of stock options to be offered for subscription by such person and the exact time of distribution) to the key personnel employed by or to be recruited by the Company. The Board of Directors may decide on particular additional provisions concerning the stock options upon distribution of stock options. The Board of Directors shall also decide upon the further distribution of the stock options returned later to the Company. A precondition for receiving stock options is that the employee is not subject to a probationary period according to his/her employment contract and that the employee has a full or part-time employment or service contract with the Company and that such contract is valid until further notice at the time of subscription of stock options. The persons to which stock options are issued are entitled to subscribe all stock options offered to them. Stock options may not be subscribed for only in part. Such stock options which are not subscribed for are are reserved to be subscribed for by such party/parties and on such terms and conditions as the Board of Directors may decide. The people, to whom stock options are issued, shall be notified in writing by the Board of Directors about the offer of stock options. The stock options shall be delivered to the recipient when he or she has accepted the offer of the Board of Directors. The stock options shall be regarded as a discretionary and nonrecurring part of compensation. The stock options shall not be regarded as a part of a stock option recipient's employment or service contract, and they shall not be regarded as a salary or fringe benefit. A stock option recipient shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options. Stock option recipients shall be liable for all taxes and tax-related consequences arising from receiving or exercising stock options.

Distribution of Stock Options. The Board of Directors shall based on proposal of the Chairman of the Board and the CEO during year 2019 2023-2025 decide upon the distribution of stock options (the persons entitled to subscribe stock options and the maximum amount of stock options to be offered for subscription by such person and the exact time of distribution) to the key personnel employed by or to be recruited by the Company. The Board of Directors may decide on particular additional provisions concerning the stock options upon distribution of stock options. The Board of Directors shall also decide upon the further distribution of the stock options returned later to the Company. A precondition for receiving stock options is that the employee is not subject to a probationary period according to his/her employment contract and that the employee has a full or part-time employment or service contract with the Company and that such contract is valid until further notice at the time of subscription of stock options. The persons to which stock options are issued are entitled to subscribe all stock options offered to them. Stock options may not be subscribed for only in part. Such stock options which are not subscribed for are are reserved to be subscribed for by such party/parties and on such terms and conditions as the Board of Directors may decide. The people, to whom stock options are issued, shall be notified in writing by the Board of Directors about the offer of stock options. The stock options shall be delivered to the recipient when he or she has accepted the offer of the Board of Directors. The stock options shall be regarded as a discretionary and nonrecurring part of compensation. The stock options shall not be regarded as a part of a stock option recipient's employment or service contract, and they shall not be regarded as a salary or fringe benefit. A stock option recipient shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options. Stock option recipients shall be liable for all taxes and tax-related consequences arising from receiving or exercising stock options.

Distribution of Stock Options. The Board of Directors shall based on proposal of the Chairman of the Board and the CEO during year 2019 2022-2024 decide upon the distribution of stock options (the persons entitled to subscribe stock options and the maximum amount of stock options to be offered for subscription by such person and the exact time of distribution) to the key personnel employed by or to be recruited by the Company. The Board of Directors expects that it will allocate approximately 1/3 of the maximum total number of stock options annually starting 2022. The Board of Directors may decide on particular additional provisions concerning the stock options upon distribution of stock options. The Board of Directors shall also decide upon the further distribution of the stock options returned later to the Company. A precondition for receiving stock options is that the employee is not subject to a probationary period according to his/her employment contract and that the employee has a full or part-time employment or service contract with the Company and that such contract is valid until further notice at the time of subscription of stock options. The persons to which stock options are issued are entitled to subscribe all stock options offered to them. Stock options may not be subscribed for only in part. Such stock options which are not subscribed for are are reserved to be subscribed for by such party/parties and on such terms and conditions as the Board of Directors may decide. The people, to whom stock options are issued, shall be notified in writing by the Board of Directors about the offer of stock options. The stock options shall be delivered to the recipient when he or she has accepted the offer of the Board of Directors. The stock options shall be regarded as a discretionary and nonrecurring part of compensation. The stock options shall not be regarded as a part of a stock option recipient's employment or service contract, and they shall not be regarded as a salary or fringe benefit. A stock option recipient shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options. Stock option recipients shall be liable for all taxes and tax-related consequences arising from receiving or exercising stock options.

Distribution of Stock Options. The Board of Directors shall based on proposal of the Chairman of the Board and the CEO during year 2019 2018 decide upon the distribution of stock options (the persons entitled to subscribe stock options and the maximum amount of stock options to be offered for subscription by such person and the exact time of distribution) to the key personnel employed by or to be recruited by the Company. The Board of Directors may decide on particular additional provisions concerning the stock options upon distribution of stock options. The Board of Directors shall also decide upon the further distribution of the stock options returned later to the Company. A precondition for receiving stock options is that the employee is not subject to a probationary period according to his/her employment contract and that the employee has a full or part-time employment or service contract with the Company and that such contract is valid until further notice at the time of subscription of stock options. The persons to which stock options are issued are entitled to subscribe all stock options offered to them. Stock options may not be subscribed for only in part. Such stock options which are not subscribed for are are reserved to be subscribed for by such party/parties and on such terms and conditions as the Board of Directors may decide. The people, to whom stock options are issued, shall be notified in writing by the Board of Directors about the offer of stock options. The stock options shall be delivered to the recipient when he or she has accepted the offer of the Board of Directors. The stock options shall be regarded as a discretionary and nonrecurring part of compensation. The stock options shall not be regarded as a part of a stock option recipient's employment or service contract, and they shall not be regarded as a salary or fringe benefit. A stock option recipient shall, during his employment, service or thereafter, have no right to receive compensation on any grounds for stock options. Stock option recipients shall be liable for all taxes and tax-related consequences arising from receiving or exercising stock options.