Common use of Additional Incentive Clause in Contracts

Additional Incentive. (a) The Compensation Committee of the Board has previously approved the grant(s) to Executive of options to purchase shares of the Company’s common stock (the “Options”) pursuant to the Company’s 2005 Equity Incentive Plan (the “Plan”). The per share exercise price applicable to the Options is 100% of the Fair Market Value (as defined in the Plan) of a share of the Company’s common stock on the grant date. The Options vest according to the terms of the grant(s), subject to earlier vesting as provided herein and in the Plan. The Options shall expire as set forth in the grant(s). Upon the occurrence of a Change in Control (as defined below), the Options shall be deemed fully vested and exercisable. In the event of any conflict between the terms and provisions of this Section 5 and the Plan, the Plan shall govern.

Appears in 5 contracts

Samples: Employment Agreement (Empire Resorts Inc), Employment Agreement (Empire Resorts Inc), Employment Agreement (Empire Resorts Inc)

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