Initial Option Grant Sample Clauses
Initial Option Grant. As of the end of the day of the date this Agreement is signed by the Company and Employee, the Company shall grant Employee an option to purchase the number of shares described in Exhibit A of common stock of the Company under the Company's 1992 Stock Option Plan, as amended, having an exercise price per share equal to the fair market value (as defined in the Stock Option Plan) of a share of common stock of the Company. Except as otherwise provided in the Stock Option Plan, the option shall become exercisable as described in Exhibit A.
Initial Option Grant. The Board or the committee of the Board (the "Committee") appointed to administer the Company's stock incentive plan (the "Stock Incentive Plan") shall award the Executive, immediately prior to the initial sales offer with regard to the IPO, an option under the Stock Incentive Plan (the "Option") to purchase shares of the Company's common stock (the "Common Stock") equal to $80,000,000 divided by the exercise price. The exercise price shall be the price at which shares of Common Stock are initially offered to purchasers in the IPO. Subject to accelerated vesting as set forth in this Agreement, the Option shall vest (i) as to one-fifth of the shares of Common Stock subject to the Option on the earlier of (x) the date which is 18 months after the date of the grant or (y) the later of the Distribution or the first anniversary of the Effective Date and (ii) as to one-fifth of the shares of Common Stock subject to the Option on the second anniversary of the Effective Date and each anniversary thereafter (with the last tranche vesting on the day prior to the fifth anniversary of the Effective Date), conditioned upon Executive's continued employment with the Company as of each vesting date. The Option shall be for a term of 10 years and in the event of any termination of employment shall remain exercisable thereafter for two years after such termination, but in no event beyond the stated 10-year term. Notwithstanding any provision to the contrary in this Agreement or in any equity compensation, benefit or other plan or prospectus, there will be no accelerated vesting of the Option upon retirement, resignation or any other event, prior to the Distribution except as provided in (b) below. Following the Distribution, there will be no accelerated vesting of the Option upon the Executive's retirement prior to the third anniversary of the IPO, unless the Option is accelerated as provided in (b) below. Except as provided in this paragraph, the Option shall vest upon the Executive's "retirement" as such term is defined in the Stock Incentive Plan or individual grants thereunder. Vested shares of the Option shall remain exercisable for at least two years after such retirement, but in no event beyond the stated 10-year term. The agreement evidencing the Option shall reflect the provisions of this Section 5(a), including, without limitation, the vesting schedule set forth herein.
Initial Option Grant. In consideration of the undertakings by the Doctor and the LLC herein, Diomed hereby grants to the LLC an option (the "Initial Option") to purchase 30,000 shares of Diomed Common Stock at a purchase price of $2.25 per share under the 2001 Stock Option Plan adopted by Diomed (the "Plan"). The Initial Option shall be fully vested on issuance and exercisable for a period of two (2) years from the date of grant. The Initial Option will be non transferable and may only be exercised on the condition that the Doctor executes the Stockholder Agreement attached herewith as Exhibit C (as it may be amended from time to time). The Initial Option (and shares issued on exercise thereof) shall also be subject to all provisions of the Certificate of Incorporation and Bylaws of Diomed, or successor entity, as from time to time revised or amended or terms of any conversion of the options in connection with a merger or acquisition with another company so long as the holder is treated on a pari parsu basis.
Initial Option Grant. On the date this Agreement is executed, the Committee shall grant Employee an option (the "Initial Option") to purchase 200,000 shares of Alamosa common stock pursuant to the LTIP. Four percent (4%) of the shares subject to the Initial Option shall become vested and exercisable each month following the date of grant (i.e., each monthly anniversary). The Initial Option shall also become immediately vested and exercisable if Employee's employment terminates pursuant to Section 9(d) below. The Initial Option shall be granted at a per share exercise price equal to the higher of (1) the closing stock price per share of Alamosa common stock on the New York Stock Exchange on the date of grant or (2) the average closing stock price per share of Alamosa common stock over the twenty trading days preceding the date of grant.
Initial Option Grant. As additional compensation for the Services to be rendered by the Employee pursuant to this Agreement, the Company shall grant to the Employee an option to purchase a number of shares of common stock, par value $0.001 (the “Common Stock”), of the Company representing two percent (2.0%) of the Common Stock of the Company outstanding as of the Commencement Date on a fully diluted basis. The option shall be granted pursuant to the terms of the Company’s 2006 Stock Incentive Plan, as it may be amended from time to time, with an exercise price per share equal to the closing price of the Company’s common stock on the Executive’s Commencement Date and shall vest in three equal annual installments with the first installment vesting on the first anniversary of the grant date.
Initial Option Grant. The granting of the Initial Options to the Executive shall be a material term of this AGREEMENT.
Initial Option Grant. As soon as practicable following the Effective Date, the Company’s Compensation Committee or the Board of Directors shall grant to Executive an option (the “Initial Option”) to purchase 4,000,000 shares of the Company’s Common Stock The vesting schedule for the Initial Option shall be as follows: 2,000,000 of the shares subject to the Initial Option shall be vested upon the earlier of (the “Initial Vesting Date”) (i) July 10, 2012, or (ii) the satisfaction or waiver of the Compensation Restrictions. The balance shall vest in twenty-four (24) equal monthly installments after the Initial Vesting Date, subject to the terms of the Company’s 2010 Nonqualified Stock Option Plan (the “Nonqualified Plan”) and the Company’s Non-Incentive Stock Option Agreement providing for grants under the Nonqualified Plan. The Initial Option shall have a term of ten years and the exercise price for such options shall be equal to the fair market value of one share of the Company’s Common Stock on the date of grant, as determined in good faith by the Compensation Committee.
Initial Option Grant. As of the Closing Date (as defined in the Pinnacle Gas Resources, Inc. Preferred Stock and Common Stock Contribution and Subscription Agreement, dated as of June 23, 2003 (the "Contribution Agreement") by and among the Company, CCBM, Inc., a Delaware corporation, Rocky Mountain Gas, Inc., a Wyoming corporation and each of the CSFB Parties (as defined therein)), the Executive shall be granted an option (the "Initial Option") to purchase 3,300 shares of the Company's Common Stock (the "Option Shares"). The Initial Option may be exercised with respect to 20% of the Option Shares following the first anniversary of the Closing Date; with respect to an additional 30% of the Option Shares following the second anniversary of the Closing Date and with respect to all Option Shares following the third anniversary of the Closing Date, provided that as of each such anniversary the Executive remains in continuous employment with the Company. The exercise price of the Initial Option will be $100.00 per share, and the Initial Option shall have a term of 7 years. As a condition of his receipt of the Initial Option, the Executive will be required to become a party to the Pinnacle Gas Resources, Inc. Securityholders Agreement, dated June 23, 2003 (the "Securityholders Agreement"). The Initial Option shall be subject to (A) an employee stock option plan to be adopted by the Company ("Stock Incentive Plan"), (B) the Company's customary stock option award document containing terms consistent with the foregoing and (C) such other terms, consistent with the foregoing, to be established by the administrative committee of such Stock Incentive Plan. In addition, upon the funding of each Subsequent CSFB Contribution by the CSFB Parties, as provided in Section 2.5(a) of the Contribution Agreement, the Executive shall be granted an additional option (each an "Additional Option") to purchase an number of shares of Common Stock equal to the product of (i) amount of the Subsequent CSFB Contribution and (ii) .0001 (such product to be rounded to the nearest number of whole shares), up to a maximum of 1,200 shares of Common Stock in the aggregate for all Additional Options granted pursuant to this provision. Each Additional Caption shall have an exercise price of $100.00 per share, and will be subject to an exercise schedule, term and other conditions as if such Additional Option had been granted on the same date as the Initial Option. The terms "Common Stock," "Subsequent CSFB Contribution"...
Initial Option Grant. In connection with Executive’s commencement of employment with the Company, Executive was granted an option (the “Initial Option”) to purchase 110,000 shares of Common Stock of the Company pursuant to the Company’s 2014 Stock Plan (the “Plan”). The Initial Option was granted on August 11, 2015 with an exercise price per share of $25.08 and vests over a four year period measured from Executive’s Start Date, subject to full acceleration in the event the Company experiences a Change in Control, as further described in the Stock Incentive Award Agreement evidencing the Initial Option. At the Initial Public Offering of the Company’s Common Stock in February 2016, the Initial Option was split and revalued at 151,800 shares of Common Stock with an exercise price per share of $18.17. For purposes hereof, “Change in Control” means the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events with all capitalized terms in this Section 3.3(a) having the meanings set forth in Exhibit 1 hereto:
Initial Option Grant. In connection with the commencement of your employment, the Company will recommend that the Board of Directors grant you an option to purchase 51,500 shares (subject to stock splits and recapitalizations) of the Company's Common Stock (the "Shares") with an exercise price equal to the fair market value on the date of the grant. These options will vest in accordance with the following schedule: twelve and one-half percent (12 1/2%) of the Shares shall vest on the six-month anniversary of the Start Date and 1/48th of the total number of Shares shall vest each month thereafter. Vesting will, of course, depend on your continued employment or consultancy with the Company. The option will be an incentive stock option to the maximum extent allowed by the tax code and will be subject to the terms of the Company's 1997 Stock Option Plan and the Stock Option Agreement between you and the Company.