Additional Stock Option. Employee shall also receive, on an annual basis, stock options to purchase NDS Common Stock equal to four percent (4%) of the pre-tax earnings of NDS as stated in the annual audit. (Example: if NDS earned $800,000 pre-tax, Employee would receive stock options of $32,000). The price payable by Employee for each share of stock purchased under the stock option described in this paragraph shall be set at the bid at the time of grant of each annual option. Additional compensation will be determined by a compensation committee designated by the Board of Directors.
Additional Stock Option. If the Company closes an offering of its equity securities at a price per share of the Company’s Preferred Stock of at least $1.75, and the Executive is actively employed by the Company on the date of such closing, the Company shall grant the Executive an additional stock option (“Additional Option”) to purchase Shares representing 1% of the Company’s Fully Diluted Equity, taking into account the securities issued in the applicable offering), after giving effect to such grant. The Additional Option will vest as follows: (i) 25% of the Shares underlying the Additional Option shall vest and become exercisable on the date of grant (“Grant Date”); and (ii) the remaining 75% of the Shares underlying the Additional Option shall vest and become exercisable in 36 substantially equal monthly installments, with each such installment vesting on the first day of every calendar month commencing on the first day of the first full calendar month following the Grant Date, subject to the Executive’s continued employment by the Company through each such date. Notwithstanding anything to the contrary, if the Company undergoes a Change of Control at a price per share of the Company’s Preferred Stock of at least $1.75 but less than $3.50, and the Executive is still actively employed by the Company on the closing of such Change of Control, the Executive shall be entitled to the immediate vesting of any unvested Shares subject to the Additional Option, then held by the Executive.
Additional Stock Option. Within 24 months of Executive’s Start Date, Executive will receive an additional option grant to purchase that number of shares of Company common stock calculated by the cost per share as determined by the Black-Scholes pricing model up to US$100,000 of Company expense totaled over the period the expense will occur. The option will be subject to the terms, conditions, vesting, and expiration timeframe listed above in Section 3.1.
Additional Stock Option. It will be recommended at the first meeting of the Board following the Effective Date that the Company grant you an option to purchase up to 1,016,454 shares of the Company’s Common Stock with an exercise price equal to the fair market value as determined by the Board on the applicable date of the grant of such option (the “Additional Options”, together with the Initial Options, the “Time-Based Options”). Except as expressly set forth herein, the Additional Options will be subject to the terms of the Plan, and your Stock Option Agreement evidencing your Additional Options. The Additional Options will vest subject to your continued employment over a two (2)-year period beginning on September 23, 2021, in twenty-four (24) Xxx Xxxxx March 10, 2021 equal monthly installments, in each case subject to your continued employment through the applicable vesting dates.
Additional Stock Option. In addition to the stock options set forth in Section 4(c) above, the Company agrees to grant to the Executive an option to purchase 22,736 shares of the Company's common stock according to the terms and conditions of the Company's 1995 Stock Option Plan, as amended. The exercise price for the option will be the fair market value on the Effective Date of this Agreement. This option will be treated as a "non-qualified stock option" for purposes of the Code, and will vest 33% at December 31, 1998, an additional 33% at December 31, 1999, and an additional 34% at December 31, 2000, so that on December 31, 2000, this stock option will be 100% fully-vested.
Additional Stock Option. Employees shell also receive on an annual basis at the end of each fiscal year, stock options to purchase NDS Common Stock in a number equal to the pre-tax profits of FOCUS divided by the market price of NDS shares at the time when the option is vested, over the next Eve (5) years pursuant to the fomwla described in 4.b. above. Example: a cash bonus in a year of $100,000 would result in that amount being divided by the. market price at the time the bonds was earned, resulting in the number of shares captioned, i e, a stock price of $5 would remit in 90,000 shares issued. Of these pctential options, one third options will be issued at the current market price at the time of the Closing referred in the Agreement and Plan of Reorganization incorporated herein, with the balance of two thirds of the options issued at the market pace when earned. The options are good for three (3) years from the date of issue.
