Initial Grant of Stock Options. Company shall grant Executive options to purchase 200,000 shares of the Company's common stock. The options shall be priced at the closing price on Executive's first day of employment under this Agreement. The options shall have a ten year (10 year) term, and vesting shall be 25% per year, commencing on the first anniversary of the grant date.
Initial Grant of Stock Options. On the Closing Date, Parent shall grant a stock option to purchase 600,700 shares of class A common stock of Parent (“Parent Stock”), which shall be subject to the terms and conditions of the Xxxx Health, Inc. 2021 Stock Option and Incentive Plan (the “2021 Plan”) and an equity award agreement substantially in the form of the Non-Qualified Stock Option Agreement attached hereto as Exhibit C.
Initial Grant of Stock Options. Classmates hereby agrees to grant to Xx. Xxxxxxxx as of the Effective Date options (the “Options”) to purchase that number of shares which represents, on the Effective Date, 4.2857% of Classmates’ fully diluted Class A common stock (the “Option Shares”) at an exercise price equal to the price per share of such Class A common stock offered to the public on the Effective Date pursuant to the terms and conditions contained herein. The Options shall vest as provided below. On the Effective Date, the number of Options and Option Shares shall be computed to represent 4.2857% of the fully diluted shares of Class A common stock, and the Options shall be issued, subject to adjustment in the number of covered shares as provided below. The Options shall be subject to customary adjustments for stock splits, stock dividends and similar events, shall be exercisable for ten years from their date of grant, and shall be evidenced by a separate option agreement or certificate. For purposes hereof, “fully diluted shares of Class A common stock” means, at the Effective Date, the total number of outstanding shares of Classmates’ Class A common stock assuming exercise of all options (including, the Options), warrants and similar securities exercisable for Class A common stock that are outstanding or issuable pursuant to then existing agreements, the conversion or exchange of all other securities of Classmates convertible into or exchangeable for shares of Class A common stock (including Classmates’ Class B common stock), treating all shares of Class A common stock covered by restricted stock units and similar instruments that are outstanding or issuable pursuant to then existing agreements as outstanding, and assuming the underwriters in the IPO sell all of the “firm shares” set forth in the IPO underwriting agreement and fully exercise the over-allotment option given them to purchase additional Class A common stock within the time provided in the IPO underwriting agreement. In the event the over-allotment option is not exercised in full by the underwriters within the time provided in the IPO underwriting agreement, an appropriate number of Options shall be cancelled and the Option agreement shall be amended, to achieve the intended percentage. For the avoidance of doubt, fully diluted shares of Class A common stock do not include any securities held in treasury.
Initial Grant of Stock Options. On the Closing Date, the Company shall grant a stock option to purchase 400,000 shares of Parent Stock (the “Option”). The Option will be subject to Parent’s Equity Documents, and shall vest and become exercisable upon satisfaction of stock price performance hurdles as specified in the applicable equity award agreement, whereby 25% of the Option will become vested and exercisable upon the Parent Stock closing trading price maintaining a closing price of $20, $25, $30, and $40 per share respectively, in each case for 30 consecutive trading days as determined by the Board, and in each case subject to the Executive’s continued employment with the Company.
Initial Grant of Stock Options. Contemporaneously with the execution hereof, as a sign-on bonus Executive shall be granted shares of the Company's common stock and options as follows:
Initial Grant of Stock Options. On the day the Effective Date, the Company shall grant Executive a stock option to purchase Class A ordinary common shares of the Company, par value US$0.0001 per share (“Stock”, and such stock options, “Options”) with an aggregate financial accounting grant date fair value equal to US$650,000, which shall be subject to the terms and conditions of the Company’s 2021 Omnibus Incentive Compensation Plan (the “2021 Plan”) and a stock option agreement to be entered into between the Company and Executive on the Effective Date.
Initial Grant of Stock Options. On the Effective Date, Executive ------------------------------ shall be granted options to acquire 200,000 shares of the common stock of the Company (the "Options"), which Options will have a per-share exercise price equal to the fair market value of such stock on the Effective Date and a term of ten years, unless terminated earlier in certain circumstances set forth in the Plan or the Award Certificate. The Options will become fully vested and exercisable as to 25% of the option shares on the first, second, third and forth anniversaries of the Effective Date; provided, however that if, prior to the first anniversary of the Effective Date, Executive meets certain integration objectives to be established by the Compensation Committee, then the Options will become vested and exercisable as to 50% of the option shares on the first anniversary of the Effective Date and as to 25% on the second and third anniversaries of the Effective Date. The Options, which will be granted under and pursuant to the term of the Company's Amended and Restated 1998 Long-Term Incentive Plan and an Award Certificate, are intended to be incentive stock options to the extent permitted by law.
Initial Grant of Stock Options. On the Effective Date the Company shall, subject to the approval and conditions of the TSX Venture, enter into an Employee Incentive Share Purchase Option Agreement with the Employee with a term of 3 years whereby the Employee shall be entitled to acquire 800,000 (eight hundred thousand) common shares in the capital of the Company which shall be vested over a period of 18 months (the “Initial Grant”) on the following schedule: 200,000: vest immediately on the Effective Date 200,000: vest on the day that is six months after the Effective Date 200,000: vest on the day that is 12 months after the Effective Date 200,000: vest on the day that is 18 months after the Effective Date The Company may, at its sole discretion make subsequent grants of stock options to the Employee beyond those set out in Article 2.3 of this Employment Agreement (“Subsequent Grants”).
Initial Grant of Stock Options. On the Effective Date, ------------------------------ Executive shall be granted options to acquire 200,000 shares of the common stock of the Company (the "Options"), which Options will have a per-share exercise price equal to the fair market value of such stock on the Effective Date and a term of ten years, unless terminated earlier in certain circumstances set forth in the Plan or the Award Certificate. The Options will become fully vested and exercisable as to 25% of the option shares on the first, second, third and fourth anniversaries of the Effective Date. The Options, which will be granted under and pursuant to the terms of the Company's Amended and Restated 1998 Long-Term Incentive Plan and an Award Certificate, are intended to be incentive stock options to the extent permitted by law.
Initial Grant of Stock Options. Subject to the approval of the Board, the Corporation will grant the Executive an option to purchase 3,000,000 common shares of the Corporation. The terms of the stock option including, without limitation, provisions respecting exercise price, vesting and expiry, shall be governed by the terms of the Viventia Biotech Inc. Share Option Plan.
