Initial Stock Option Grant. Effective as of the date hereof, but -------------------------- subject to the approval by the Company's shareholders of an amendment to the Company's 1997 Stock Plan to increase the number of shares available for issuance thereunder, the Company shall grant Executive an option (the "Option") to purchase 150,000 shares of the Company's common stock, par value $.01 per share (the "Common Stock"), at an exercise price of $8.00 per share. To the extent not inconsistent with the terms of this Agreement, the Option shall be subject to the terms of a stock option agreement in substantially the form attached hereto as Exhibit B (the "Option Agreement"). The Option shall become exercisable on a cumulative basis as follows, provided that Executive continues in the employment of the Company through the applicable vesting date(s):
Initial Stock Option Grant. Employee is granted an aggregate of 235,000 stock options from the Augme Technologies Inc. 2010 Incentive Stock Option Plan by Board approval on November 6, 2012. The options shall have an exercise price of $0.66 per share (which exercise price is not less than the closing price on the date of Board approval) and a five year term. The options shall vest in accordance with the following schedule:
Initial Stock Option Grant. Executive shall receive from the Company, effective as of January 6, 2017, options (“the “Initial Options”) to purchase up to Four Million (4,000,000) shares of the Company's Common Stock at an exercise price of Fifteen Cents ($0.15) per share, constituting the Fair Market Value as of the Effective Date. Of the Initial Options granted, options to purchase One Million (1,000,000) shares (25%) shall vest on January 5, 2018 and options to IRONCLAD EMPLOYMENT AGREEMENTPage 2 purchase an additional One Million (1,000,000) shares shall vest on each one-year anniversary of January 5, for three (3) consecutive years. Once vested, the Initial Options must be exercised no later than three (3) years from vesting. The Company will register the shares of Common Stock issuable upon exercise of the Initial Options pursuant to a registration statement on Form S-8.
Initial Stock Option Grant. Immediately following the Closing, -------------------------- Executive shall be granted a non-qualified phantom share option (for a term expiring ten years thereafter) to purchase phantom ordinary shares of the Parent Company, the number of which shall equal two times Executive's Base Salary divided by the then current fair market value of a share of the Parent Company (the "Option"). Executive's right to exercise the Option shall vest in 25% increments on each of the first four anniversaries of the Effective Date, if, in each case, Executive is then employed by the Company (except that in the case of death, disability, as defined in Section 5.1, or removal without cause, as provided in Section 5.4(b), Executive shall be fully vested in the Option). The terms of the Option, to the extent not inconsistent with the provisions outlined in this Section, shall be made subject to the terms of the Parent Company's Phantom Share Option Scheme.
Initial Stock Option Grant. Effective as of the Effective Date, the Company shall grant Executive stock options to purchase 50,000 shares of Company stock under the Company’s equity incentive plans, with an exercise price equal to the closing market price on the Effective Date. Such initial grant of stock options shall vest ratably over a four-year period, 25% on each anniversary of the date of grant, provided Executive is employed on such dates by the Company. All such stock options shall be subject to the terms and conditions set forth in the applicable plan and applicable award agreement attached as Exhibit A hereto.
Initial Stock Option Grant. Berman received incentive and non-qualified options to purchase 200,000 (400,00 shares, pre-reverse split) shares of Common Stock of VaxGen at $7.00 per share ($3.50 per share, pre-reverse split) (with as many shares allocated to an incentive stock option as is permissible under applicable laws). The stock options will continue to be administered according to the VaxGen Stock Option Plan and shall vest over time as indicated in the Stock Option Plan; provided, however, that the option agreements shall provide that the vesting of the options shall accelerate in full immediately upon occurrence of any of the following events: (i) Change of Control (as defined below) of VaxGen; (ii) full enrollment of Phase III clinical trials of VaxGen B/E and B/B vaccines or (iii) termination of Berman's employment without cause or by Berman for Good Reason (as defined below). Upon an occurrence of event described in (iii) above, the right to exercise all nonqualified stock options shall be extended to one year from the date of termination.
Initial Stock Option Grant. On the Grant Date, Executive shall receive a grant of nonqualified stock options under the Plan (the “Initial Stock Options”) valued at $950,000 using a Black Scholes valuation based on the closing price of Endo’s ordinary shares on the Grant Date with methodology determined by the Committee in its sole discretion (rounded down to the nearest whole share). The Initial Stock Options shall vest ratably over a four-year period, at a rate of 25% percent of the total Initial Stock Options on each of the four anniversaries of the Grant Date, provided Executive is employed on such dates by the Company or one of its affiliates. The Initial Stock Options shall be subject to the terms and conditions set forth in the Plan and applicable award agreement.
Initial Stock Option Grant. On the Commencement Date, in consideration of the Executive’s entering into this Agreement and as an inducement to join the Company, the Executive shall be granted, under the Dynegy Inc. 2010 Long Term Incentive Plan, as amended or modified from time to time (the “LTIP”), a non-qualified stock option to purchase the following number of shares of the Company’s common stock (the “Option”), subject to the approval of the Board or committee thereof, at the following corresponding per share exercise prices: 50,000 shares at fair market value (as determined in accordance with the LTIP) on the Option grant date; 62,500 shares at $6.50 per share; 75,000 shares at $8.00 per share; and 100,000 shares at $10.00 per share; provided that in no event will the exercise price be less than the fair market value of the Company’s common stock on the Option grant date. Such award shall be governed by the LTIP and a stock option award agreement between the Executive and the Company. Subject to the terms of the LTIP and the Option award agreement, and provided the Executive remains in active working status at such time, the Option shall become exercisable in equal installments on each of the first four (4) anniversaries of the Commencement Date; provided, however, that if the Executive’s employment is terminated for any reason other than by the Company for Cause or by the Executive without Good Reason (each as defined in the Dynegy Inc. Executive Severance Pay Plan (the “Severance Plan”)), the Option shall immediately vest in full and thereafter be exercisable in accordance with the terms of the Option award agreement.
Initial Stock Option Grant. Subject to final approval by the board of directors of Cerecor Inc., you shall receive an option (the “Option”) to purchase 400,000 shares of Cerecor common stock (the “Shares”), pursuant to the terms, conditions, and restrictions of this Agreement, the Cerecor Inc. 2011 Stock Incentive Plan (the “Plan”) and the restricted stock award agreement thereunder. The Option will be subject to the following vesting schedule, for so long as you remain employed the Company:
Initial Stock Option Grant. Upon execution of this Agreement, Employee shall be granted an aggregate of 2,000,000 stock options at an exercise price of one dollar ($1.00) per share (which exercise price is not less than the closing price on the date of Board approval) for a five-year period pursuant to the Company’s standard Stock Option Agreement, and further provided that: