Common use of Extra Grant Clause in Contracts

Extra Grant. As a further inducement for the execution of this Employment Agreement by the Employee, on the Grant Date, the Employee shall be granted options to purchase forty-eight (48) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare. Such stock options (the “Extra Options”) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Stock Plan and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit C (the “Extra Option Agreement”). All of the Extra Options shall be fully vested on the Grant Date. However, the Extra Options may only be exercised to the extent that the Equity Value Per Share (as defined in the Extra Option Agreement) at the time of exercise is at least three hundred percent (300%) of the Equity Value Per Share at the Closing Date (as defined in the Extra Option Agreement). The number of Extra Option shares will be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like. Any Extra Options shall expire in accordance with the terms of the Stock Plan. The Extra Options shall have an exercise price equal to $5,000 per share.

Appears in 3 contracts

Samples: Employment Agreement (Res Care Inc /Ky/), Employment Agreement (Res Care Inc /Ky/), Employment Agreement (Res Care Inc /Ky/)

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Extra Grant. As a further inducement for the execution of this Employment Agreement by the Employee, on the Grant Date, the Employee shall be granted options to purchase fortyseventy-eight one (4871) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare. Such stock options (the “Extra Options”) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Stock Plan and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit C (the “Extra Option Agreement”). All of the Extra Options shall be fully vested on the Grant Date. However, the Extra Options may only be exercised to the extent that the Equity Value Per Share (as defined in the Extra Option Agreement) at the time of exercise is at least three hundred percent (300%) of the Equity Value Per Share at the Closing Date (as defined in the Extra Option Agreement). The number of Extra Option shares will be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like. Any Extra Options shall expire in accordance with the terms of the Stock Plan. The Extra Options shall have an exercise price equal to $5,000 per share.

Appears in 2 contracts

Samples: Employment Agreement (Res Care Inc /Ky/), Employment Agreement (Res Care Inc /Ky/)

Extra Grant. As a further inducement for the execution of this Employment Agreement by the Employee, on the Grant Date, the Employee shall be granted options to purchase fortyseventy-eight one (4871) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare. Such stock options (the “Extra Options”) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Stock Plan and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit C (the “Extra Option Agreement”). All of the Extra Options shall be fully vested on the Grant Date. However, the Extra Options may only be exercised to the extent that the Equity Value Per Share (as defined in the Extra Option Agreement) at the time of exercise is at least three hundred percent (300%) of the Equity Value Per Share at the Closing Date (as defined in the Extra Option Agreement). The number of Extra Option shares will be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like. Any Extra Options shall expire in accordance with the terms of the Stock Plan. The Extra Options shall have an exercise price equal to $5,000 6,63 0 per share.

Appears in 1 contract

Samples: Employment Agreement (Res Care Inc /Ky/)

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Extra Grant. As a further inducement for the execution of this Employment Agreement by the Employee, on the Grant Date, the Employee shall be granted options to purchase fortyninety-eight five (4895) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare. Such stock options (the “Extra Options”) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Stock Plan and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit C (the “Extra Option Agreement”). All of the Extra Options shall be fully vested on the Grant Date. However, the Extra Options may only be exercised to the extent that the Equity Value Per Share (as defined in the Extra Option Agreement) at the time of exercise is at least three hundred percent (300%) of the Equity Value Per Share at the Closing Date (as defined in the Extra Option Agreement). The number of Extra Option shares will be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like. Any Extra Options shall expire in accordance with the terms of the Stock Plan. The Extra Options shall have an exercise price equal to $5,000 per share.

Appears in 1 contract

Samples: Employment Agreement (Res Care Inc /Ky/)

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