Employment Inducement Awards. As an incentive to accepting employment with the Company and entering into this Agreement, Executive will be awarded upon the commencement of the Employment Term the following grants: Thirty thousand (30,000) shares of time restricted stock, which restrictions shall be removed (subject to other conditions precedent) over a four (4) year period as follows – 50% on the second anniversary of the commencement of the Employment Term and 50% on the fourth anniversary of the commencement of the Employment Term.
Employment Inducement Awards. As an incentive to accepting employment with Company and entering into the Prior Employment Agreement, Executive was awarded at no cost to Executive: (i) three hundred seventy-five thousand (375,000) fair market value options at the market price on the day the Prior Employment Agreement was dated which vest ratably over three (3) years with the first year being the anniversary of the Prior Employment Agreement and (ii) two hundred thousand (200,000) time restricted shares, which shares vest ratably over five (5) years with the first year being the anniversary of the Prior Employment Agreement.
Employment Inducement Awards. As an incentive to accepting employment with Company and entering into this Agreement, Executive will be awarded upon Date of Employment one hundred thousand (100,000) restricted stock, which restrictions will be removed (subject to no other conditions precedent) ratably over three (3) years with the first year being the anniversary of Date of Employment.
Employment Inducement Awards. (a) Executive shall be eligible for a guaranteed minimum bonus under the Company’s annual incentive compensation plan, for the fiscal year 2005 only, of $300,000 (less withholding). The bonus contemplated hereunder shall be paid no later than March 31, 2006 and is subject to continued active employment with the Company. The bonus contemplated hereunder is a part of, and not in addition to, any bonus earned pursuant to Section 5 hereof. Executive must be actively employed March 31, 2006 to receive this bonus.
Employment Inducement Awards. As an incentive to accepting employment with Company and entering into this Agreement, Executive will be awarded upon execution of this Agreement and the Company will take any and all necessary action to make such award at no cost to Executive: (l) twenty five thousand (25,000) fair market value options at the market price on the day this Agreement is dated which will vest ratably over three (3) years with the first year being the anniversary of this Employment Agreement.
Employment Inducement Awards. As an incentive to accepting employment with the Company and entering into this Agreement, Executive will be awarded upon the commencement of the Employment Term the following grants under the terms of the 2006 Equity Incentive Plan: Forty thousand (40,000) shares of time restricted stock, which restrictions shall be removed (subject to other conditions precedent) over a four (4) year period as follows — 50% on the second anniversary of the commencement of the Employment Term and 50% on the fourth anniversary of the commencement of the Employment Term; and , Twenty thousand (20,000) fair market value options at the market price of the day this Agreement is executed, options, with a ten (10) year term, vesting ratably over 3 years, with the first year being the anniversary of the date this Agreement is executed.
Employment Inducement Awards. As an incentive to accepting employment with the Company and entering into this Agreement, Executive will be awarded upon the Effective Date with the following grants: Fifth Thousand (50,000) shares of time restricted stock, which restrictions shall be removed (subject to other conditions precedent) over a four (4) year period as follows-Fifty percent (50%) vesting on the second anniversary of the Effective Date and fifty percent (50%) vesting on the fourth anniversary of the Effective Date.
Employment Inducement Awards. 1. The grant by the Company to Executive of stock options to purchase 100,000 shares of Company common stock at an exercise price of $9.44, which is the fair market value on the date of grant.
Employment Inducement Awards. As an incentive to accepting employment with the Company and entering into the NDF Contract and subsequently this Agreement, Executive was awarded upon the Employment Date with the following grants: one hundred thousand (100,000) shares of time-based restricted stock, which restrictions shall be removed (subject to other conditions precedent) over a four (4) year period as follows- fifty percent (50%) on the second anniversary of the Employment Date and fifty percent (50%) on the fourth anniversary of the Effective Date.
Employment Inducement Awards. As an incentive to accepting employment with Company and entering into this Agreement, Executive will be awarded upon execution of this Agreement and the Board will take any and all necessary action to make such award at no cost to Executive: (i) three hundred seventy-five thousand (375,000) fair market value options at the market price on the day this Agreement is dated which will vest ratably over three (3) years with the first year being the anniversary of this Employment Agreement and (ii) two hundred fifty thousand (200,000) time restricted shares, which shares shall vest ratably over five (5) years with the first year being the anniversary of this Employment Agreement.
