Future Grant Sample Clauses

Future Grant. The grant of an Option under the Plan is a one-time benefit and does not create any contractual or other right to receive a grant of Option or benefits in lieu of Options in the future. Future grants of Options, if any, will be at the sole discretion of the Company, including, but not limited to, the timing of the grant, the number of Options, vesting provisions, and the exercise price. The Plan has been introduced voluntarily by the Company and in accordance with the provisions of the Plan may be terminated by the Company at any time.

Future Grant. (i) In connection with the Second Bonus Payment Right (as defined in Section 2(b) of Exhibit D), no later than ten (10) days following the earlier of (A) the Second Bonus Payment Date and (B) the Second Bonus Payment Right terminates, in each case, in accordance with Exhibit D attached hereto, the Executive will receive a grant of options to purchase a number of shares of Common Stock (the “Replenishment Grant”) equal to the number of Eligible Shares (as defined in Section 2(b) of Exhibit D below) and Vested Options (as defined in Section 2(b) of Exhibit D below) sold in the Second Sale Transaction (as defined in Section 2(b) of Exhibit D below) or to the Company pursuant to Section 2(b) of Exhibit D below, with a per share exercise price equal to the fair market value on the date of grant. The Replenishment Grant will be fully-vested upon the date of grant and will be subject to the terms and conditions of the aforementioned Stock Option Plan, Notice of Grant and Stock Option Agreement, consistent with this Section 4(b). Notwithstanding the foregoing, the Executive will have the right to elect to receive (x) a number of RSUs equal to the number of shares of Common Stock underlying the Replenishment Grant, or (y) a combination of options and RSUs equal to the number of shares of Common Stock underlying the Replenishment Grant. The RSUs, if any, will be granted subject to the terms and conditions of the aforementioned 2012 Restricted Stock Unit Plan, Notice of Grant and Restricted Stock Unit Agreement, subject to modification to allow Executive to receive a bonus payment in the event that the Company declares a dividend on its Common Stock prior to the settlement of the RSUs, which bonus payment will be paid no later than thirty (30) days after the payment of the dividend and will be in amount equal to the amount Executive would have received had Executive held shares of Common Stock equal to the amount of vested RSUs, instead of RSUs. Capitalized terms not defined in this Section 4(b) have the meanings set forth in Exhibit D attached hereto. (ii) In the event Executive elects to receive stock options in respect of the Replenishment Grant, then: (A) within ten (10) days of the date of the Replenishment Grant, the Company will loan the Executive an amount equal to the aggregate exercise price in respect of such options (the “Replenishment Loan”), which Replenishment Loan will become due and payable on the date which is nine (9) years after the date of issuan...