ANNUAL STOCK OPTION GRANT. Subject to the availability of shares under the Corporation’s 1999 Stock Plan (the “1999 Plan”) or any other qualified or non-qualified stock incentive plan designated by the Board of Directors and approved by the Corporation’s stockholders, on or about the date of the Corporation’s annual meeting (but not later than June 30th) for each year of the Term (beginning in 2006) (each, a “Grant Date”), Employee shall be eligible for an option (“Annual Option”) to purchase shares of common stock of the Corporation in an amount equal to not less than 100% of the largest aggregate amount of annual option grants to any other continuing full-time employee of the Corporation over the twelve (12) months up to and including the applicable Grant Date or otherwise with respect to the same option period (excluding sign-on or other grants outside of the ordinary course of such employee’s employment) (the “Base Amount”); provided, however, that the Board of Directors may determine, if consistent with the opinion of a qualified outside compensation consultant, that Employee is eligible to receive options to purchase between 100% and 150% of the Base Amount; provided further, however, that approval by the Corporation’s shareholders shall be required if Employee is to receive options to purchase in excess of 150% of the Base Amount. All Annual Options shall be subject to the final approval of the Board of Directors. The Annual Options granted pursuant to this Agreement shall be granted pursuant to the 1999 Stock Plan or any other qualified or non-qualified stock incentive plan designated by the Board of Directors, which other plan has been approved by the stockholders of the Corporation. The Annual Options shall vest quarterly over the one-year period following the Grant Date and shall be exercisable after vesting at a price equal to the closing price of the common stock of the Corporation on the Grant Date for a period of five years from the Grant Date, provided, however, that if Employee ceases to be an employee of the Corporation, the exercise period shall be shortened in accordance with the stock plan under which the Annual Option was granted. Notwithstanding anything to the contrary herein, if Employee is not actively engaged in the duties of Creative and Design Chief for at least six months out of the twelve months immediately preceding a Grant Date, the Corporation shall not be required to grant, and Employee shall not be eligible to receive, an Annual Option on such Gra...
ANNUAL STOCK OPTION GRANT. Executive shall be eligible for an annual stock option (the "Annual Stock Option") (including ISO's and NQO's). The target grant for Executive shall be an option to purchase seventeen thousand shares (17,000) of Common Stock, granted in accordance with the terms of the Plan, the actual number of shares in the grant to be determined by the CEO and the Compensation Committee of the Board of Directors. The first Annual Stock Option shall be in accordance with the normal Company calendar for officers following the 2001 fiscal year. Options granted to Executive pursuant to this section shall be designated incentive stock options to the maximum extent allowed by law.
ANNUAL STOCK OPTION GRANT. The second sentence of Section 1.5.2 of the Agreement is hereby amended and restated to read in its entirety as follows: The target grant for Executive shall be an option to purchase thirty-five thousand shares (35,000) of Common Stock, granted in accordance with the terms of the Plan, the actual number of shares in the grant to be determined by the CEO and the Compensation Committee of the Board of Directors.
ANNUAL STOCK OPTION GRANT. Executive shall be given the opportunity to be granted additional options or SARs with respect to shares of Common Stock with an underlying market value at the time of grant of 100-125% of Executive's annual base salary at the time of grant in accordance with and commencing upon Employer's next regular grant of options following the Effective Date; provided, however, that nothing contained in this Section 5(f) shall confer upon Executive any right to such additional options or SARs.
ANNUAL STOCK OPTION GRANT. Subject to the provisions of this Section 3(d), beginning with the 2004 fiscal year, Employee shall be eligible to receive an annual grant of options commensurate with Employee's position and responsibilities, subject to a minimum of 50,000 shares (the "Annual Options"), pursuant to the Company's 1999 Stock Option Plan, as amended (the "Option Plan"), with an exercise price equal to the closing price of the Common Stock on the grant date; provided, however, Company shall not be required to issue Annual Options to Employee after such time as it has discontinued the issuance of options to other senior management employees, using instead another form of incentive compensation, provided that Employee receives incentive compensation in the same form as other senior management employees. The Annual Options granted during a fiscal year shall be granted not later than the end of the fourth full month of that fiscal year and shall be contingent on Employee being employed by Company on the grant date and Company having achieved its Target Income for the immediately preceding fiscal year. The Annual Options shall be governed by and subject to the terms and conditions of the Option Plan.
ANNUAL STOCK OPTION GRANT. Executive shall be eligible to receive an ------------------------- annual grant of stock options, subject to the discretion of and approval by the Board, with a target grant value of $1,250,000 and a maximum grant value of $1,750,000. Grant value shall be determined by the Black-Scholes Option Pricing Model using the same assumptions the Board applies to determine annual option grants for the Company's other executive officers. Such annual stock option grant shall be awarded at the same time annual option grants are awarded to the Company's other executive officers, beginning with grants attributable to performance for the firm's 2002 fiscal year.
ANNUAL STOCK OPTION GRANT. An annual grant of stock options for common shares in the capital stock of the Corporation with the number of such options to be determined as follows:
ANNUAL STOCK OPTION GRANT. Subject to the provisions of this Section 3(e), beginning with the 2004 fiscal year, Employee shall be eligible to receive an annual grant of options commensurate with Employee's position and responsibilities, subject to a minimum of 50,000 shares, pursuant to the Option Plan (the "Annual Options"), with an exercise price equal to the closing price of the Common Stock on the grant date; provided, however, Company shall not be required to issue Annual Options to Employee after such time as it has discontinued the issuance of options to other senior management employees, using instead another form of incentive compensation, provided that Employee receives incentive compensation in the same form as other senior management employees. The Annual Options granted during a fiscal year shall be granted not later than the end of the fourth full month of that fiscal year and shall be contingent on Employee being employed by Company on the grant date and Company having achieved its Target Income for the immediately preceding fiscal year. The Annual Options shall be governed by and subject to the terms and conditions of the Option Plan and Employee's Stock Option Agreement in substantially the form attached hereto as Exhibit B.
ANNUAL STOCK OPTION GRANT. On the date PwCC makes (or would otherwise make) its annual stock option awards to other senior executive officers of PwCC, Company shall grant Executive a ten (10) year stock option to purchase a number of shares of PwCC common stock with a face value (exercise price times number of shares underlying the option) equal to 400% of Executive's then current Base Salary; provided that the 2003 annual grant shall be an option covering at least 200,000 shares if PwCC's market capitalization on the date of grant is between $3 billion and $6 billion (in the event that such market capitalization is greater than $6 billion or less than $3 billion, the number of shares covered by the option shall be proportionately adjusted). The exercise price of such stock option shall be equal to the fair market value of PwCC common stock on the date of grant, and except as otherwise provided herein, one-fourth of the shares underlying such stock option shall become exercisable on each of the first four (4) anniversaries of the date of grant.
ANNUAL STOCK OPTION GRANT. In addition to the annual cash bonus opportunity referred to above, Executive will be eligible to receive an annual grant of options to purchase shares of the common stock of Korn./Ferry in the manner and subject to the terms and conditions set forth in the Offer Letter.
