Additional Option Grant. You will be granted an option (the “Option”) to purchase 85,000 shares of common stock of the Company, with an exercise price equal to the fair market value of the common stock on the grant date, and with one-third of the Option vesting on December 31, 2021, and the other two-thirds vesting on December 31, 2022. The Option will be evidenced by a standard stock option agreement, and will be subject to the terms and conditions of that agreement and the Plan.
Additional Option Grant. On the Effective Date, Executive will receive a stock option award to purchase a number of shares of common stock of Chicken Acquisition Corp. as set forth on Exhibit B attached hereto on terms and conditions substantially as set forth on Exhibit B and such additional terms and conditions provided for in a stock option agreement (the “Option Agreement”).
Additional Option Grant. On the first anniversary of the Commencement Date (or as soon thereafter as practicable), the Executive shall be granted stock options to purchase shares of Common Stock that represent 1% of the Company's fully diluted equity at the time of grant, and will be subject to the same vesting and other provisions as the grant of Options described in the preceding paragraph.
Additional Option Grant. In addition to the CANCER TARGET Option granted pursuant to the Fourth Amendment, VICAL hereby grants MERCK an additional option (the “Additional Option”) to obtain a license under the VICAL PATENT RIGHTS and VICAL KNOW-HOW to make, have made, use, sell, offer to sell and import CANCER VACCINES in the TERRITORY for up to an additional [***] CANCER TARGETS. Except as provided in this Fifth Amendment, the terms and conditions of the Additional Option, and the CANCER TARGET LICENSES obtained by MERCK pursuant to such an Additional Option, shall be as provided for in Paragraph 9 of the Fourth Amendment. VICAL intends to grant to a third party the first right to obtain a license under the VICAL PATENT RIGHTS and VICAL KNOW-HOW solely with respect to such CANCER TARGETS described on Attachment 1 (the “Third Party Right”), and MERCK acknowledges that, notwithstanding anything to the contrary in Paragraph 9 of the Fourth Amendment, the Additional Option granted to MERCK with respect to such CANCER TARGETS is subject to such Third Party Right and may only be exercised if such third party waives or does not exercise the Third Party Right. For avoidance of doubt, in exercising the Additional Option for a CANCER TARGET LICENSE, a CANCER TARGET shall be identified by MERCK by providing appropriate identifying information identifying such CANCER TARGET; such appropriate information may include, but shall not limited to, GenBank accession numbers, a locus link number, or other identifying information that uniquely identifies such CANCER TARGET.
Additional Option Grant. Concurrent with the execution hereof, the Company shall grant to Employee options to purchase up to an additional 175,000 shares of the Company’s common stock at an exercise price of $4.50 per share. Such options shall vest based upon the achievement of certain performance targets established by the Board of Directors.
Additional Option Grant. Upon the consummation by the Company of the first equity financing on and after the Commencement Date, whether consummated in a single transaction or through a series of related transactions, in which shares of preferred stock are issued by the Company containing rights upon liquidation of the Company that are pari passu with or senior to the holders of the Company’s Series A Convertible Preferred Stock (the “Financing”), then, subject to Section 3.c.iii., the Executive shall be granted an additional option (the “Additional Option”) to purchase that number of shares of Common Stock of the Company as shall equal five percent (5%) of the fully diluted shares or other securities (on an as-converted basis) issued in connection with the Financing (the “Additional Option Shares”); provided that, in no event shall the number EMPLOYMENT AGREEMENT of shares issuable in connection with the Additional Option exceed 1,500,000 shares (the “Additional Option Cap”). Twenty percent (20%) of the Additional Option Shares shall vest on the first anniversary of the date of grant of the Additional Option, twenty percent (20%) of the Additional Option Shares shall vest in equal monthly installments thereafter over the subsequent twelve (12) months and the remaining sixty percent (60%) shall vest in equal monthly installments thereafter over the subsequent twenty-four (24) months, subject to the Executive’s continued employment by the Company. The Additional Option shall be exercisable at a price per share equal to the fair market value of the Common Stock of the Company on the date of grant.
Additional Option Grant. In addition to the Options granted to the Executive as provided in paragraph (c) of Section 4 of the Stock Option Agreement, the Company shall grant to the Executive, effective as of the Effective Date, (i) an Option to purchase Fifty Thousand (50,000) shares of Common Stock (the "50,000 Share Option") and (ii) an Option to purchase Ten Thousand (10,000) shares of Common Stock (the "10,000 Share Option"). Each of the 50,000 Share Option and the 10,000 Share Option shall have an exercise price per share equal to $46.125 (the last reported sale price of the Common Stock on the Nasdaq National Market System at the close of the trading day immediately preceding the Effective Date). Except as otherwise expressly provided in this Section 3, (x) the provisions of paragraphs (h)(ii)(ii) and (h)(ii)(iii) of the Employment Agreement, including but not limited to provisions regarding vesting and exercisability, shall apply to the 50,000 Share Options, and (y) the provisions of paragraphs (c)(ii) and (c)(iii) of the Employment Agreement, including but not limited to provisions regarding vesting and exercisability, shall apply to the 10,000 Share Options.
Additional Option Grant. In addition to the Initial Option, the Company will recommend that the Board grant Executive an additional option at the Second Tranche Closing (as defined in that certain Alpine Immune Sciences, Inc. Series A Preferred Stock Purchase Agreement dated as of June 10, 2016) to purchase that number of shares of Common Stock that, when accumulated with the Initial Option, will equal 5% of the Company’s fully-diluted capitalization, as measured immediately following the Second Tranche Closing (the “Additional Option”). The Additional Option shall be subject to approval of the Board and to the terms of the Company’s 2015 Stock Plan and Stock Option Agreement, with an exercise price per share equal to the fair market value of the Common Stock on the date of grant (as determined in good faith by the Board). Unless otherwise determined by the Board, the Additional Option will vest as follows:
Additional Option Grant. The Company hereby grants Employee options to acquire an additional 40,000 shares of the Company's Common Stock pursuant to a Stock Option Agreement to be entered into between Company and Employee simultaneously with the execution of this Amendment. The Exercise Price for the options granted pursuant to this Paragraph shall be equal to the closing price of the Company's Common Stock as quoted by the New York Stock Exchange on the date of this Amendment, i.e. December 3, 1999. All such options shall vest on January 1, 2000, and shall expire on December 3, 2009.
Additional Option Grant. The Board shall grant 275,000 options to purchase common shares in the Company as full compensation for the services provide by the Executive for services rendered during the Extended Term. Upon the date of grant by the Board, 91,666 of those options shall vest. A further 91,667 options shall vest on April 30, 2020 and May 31, 2020. In the event that the Employment Agreement, as amended by the Amendment Agreement, is terminated in accordance with its terms (the “Termination”), the options will cease to vest on the date of Termination and all unvested options shall automatically terminate and be null and void on June 1, 2020. In the event that the Termination occurs prior to April 30, 2020 or May 31, 2020, the options due to vest on April 30, 2020 or May 31, 2020, as the case may be, shall vest on a pro rata basis, based on the number of days elapsed in such month. All options are subject to, and will be made in accordance with, the guidelines of the Toronto Stock Exchange and the Company’s Employee Stock Option Plan.
