ADDITIONAL GRANT OF OPTIONS Sample Clauses

ADDITIONAL GRANT OF OPTIONS. In addition to the Options covering 1,500,000 (one million five hundred thousand) Units listed above, during his tenure as Chief Executive Officer, Xxxxxxxxx shall be eligible to receive an additional one-time Option grant covering 600,000 (six hundred thousand) Units, which shall be fully vested and immediately exercisable, under the same terms as defined above, in the event that any of the following shall occur during the term of this Agreement: (1) Xxxxxxxxx generates GAAP-certified gross margin on accounts that he sold, without commissions being paid, in an amount no less then $20,000,000 (twenty million dollars) in any rolling, consecutive twelve (12) month period, based on cash collections and as determined by the Company’s accountants; (2) the GAAP-certified EBITDA of the Company equals or exceeds $30,000,000 (thirty million dollars) in any fiscal year, as determined by the Company’s accountants; or (3) the sale to any third party of at least twenty five percent (25%) of the total then-outstanding Membership Units of the Company for a cash purchase price equal to at least $5.50 (five dollars and fifty cents) per Unit.
Sample 1
ADDITIONAL GRANT OF OPTIONS. In addition to the Options described above in this Section 5, Xxxxxxxxx shall receive an additional one-time Option grant covering 750,000 (seven hundred fifty thousand) Shares on the Amendment Effective Date. The Options granted pursuant to this Section 5(c): (i) shall have an exercise price equal to $4.92 per Share, and (ii) shall vest in an amount equal to 125,000 Shares on each of the first six anniversaries of the Amendment Effective Date. Notwithstanding the foregoing, the Options granted pursuant to this subsection shall become fully vested upon a Change in Control, as defined in Section 7, and shall not vest upon any of the events described in Section 5(b) above. The Options shall become immediately exercisable upon vesting. Except as provided herein, such Options shall be subject to the terms of the Company’s 2004 Unit Option Plan and the option agreement provided to Xxxxxxxxx pursuant to the plan, and Xxxxxxxxx’x receipt of the Options shall be subject to his executing such option agreement The number of Shares and exercise price of the Options set forth in this Section 5(c) shall be adjusted to reflect any Share splits or Share dividends after the Amendment Effective Date.
Sample 1

Related to ADDITIONAL GRANT OF OPTIONS

  • Grant of Options The Company hereby grants Optionee the right and option ("Option") to purchase the above described Twenty Million (20,000,000) shares of Common Stock, on the terms and conditions set forth herein and subject to the provisions of the Form S-8 registration statement in exchange for services provided by Employee to the Company, the options shall vest immediately upon the exercise hereof.

  • Grant of Option The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during the option term specified in Paragraph 2 at the Exercise Price.

  • Initial Grant Following the execution of this Agreement, the Executive shall be granted 500,000 options to acquire common shares in the capital of the Parent, with the price and terms of such options to be established by the Board of Directors of the Parent in accordance with the Parent's stock option plan.

  • Initial Stock Option Grant You will be awarded options in respect of Koninklijke common stock (your “Initial Stock Options”). The number of Initial Stock Options to be awarded to you is stated in the Schedule. The vesting schedule for your Initial Stock Options is stated in the Schedule. Your Initial Stock Options will be subject to the terms of LTIP and to the terms of your award agreement under it.

  • Confirmation of Grant of Option Pursuant to a determination by the Board of Directors of the Company made as of April 19, 2001 (the "Date of Grant"), the Company hereby confirms that the Director has been granted effective April 19, 2001, as a matter of separate inducement and agreement, and in addition to and not in lieu of salary or other compensation for services to be rendered by the Director, the right to purchase (the "Option") 20,761 shares of Common Stock, $.01 par value, of the Company (the "Shares"), subject to adjustment as provided in Section 7 hereof.

  • Stock Option Grants Executive will receive an annual grant of stock options during the term of this Agreement in a manner and under terms that are consistent with grants made to other executives of the Company.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Grant of Stock Appreciation Rights Subject to the terms and conditions of the Plan and this Agreement, the Company hereby grants this Award to the Participant on the Grant Date on the terms set forth on the cover page of this Agreement, as more fully described in this Attachment A. This Award is granted under the Plan, which is incorporated herein by this reference and made a part of this Agreement.

  • Grant of Stock Options This non-qualified Stock Option is granted under and pursuant to the Plan and is subject to each and all of the provisions thereof.

  • Grant of Non-Qualified Options The Company hereby irrevocably grants to the Optionee, as a matter of separate agreement and not in lieu of salary or other compensation for services, the right and option to purchase all or any part of an aggregate of [●] shares of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms and conditions herein set forth. The Common Stock shall be unregistered under the Securities Act of 1933, as amended (the “Securities Act”), unless the Company voluntarily files a registration statement covering such shares of Common Stock with the Securities and Exchange Commission. The Options are not intended to be Incentive Stock Options as defined by Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). This Agreement replaces any stock option agreement or offer letter previously provided to the Optionee, if any, with respect to the Options.

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