Initial Stock Options. Upon execution of this Agreement, Executive shall be granted an incentive stock options for a total of 300,000 shares of the Corporation's Common Stock under the Corporation's stock option plan (the "Initial Stock Options"). This grant is effective as of the date of this Agreement (or the date of grant under the plan, if later). One third of such Initial Stock Options shall become exercisable on each successive anniversary of the date of the Agreement, provided that the Executive is employed by the Corporation on each such anniversary date.
Initial Stock Options. You shall be entitled to receive stock options --------------------- to purchase up to an aggregate of 30,000 shares of common stock of the Company. Such options shall be priced on the closing price of the Company's Common Stock as reported by NASDAQ on the date you commence employment with the Company and shall vest as follows: the stock options have a four year vesting period, with 20% vesting after six months, 20% vesting after one year, 20% at the end of two years, 20% at the end of three years, and full vesting at the end of four years in four equal annual installments on the anniversary date of such grant. A copy of the forms of option grant letter is attached hereto as Exhibits D and E. ---------------- Notwithstanding the foregoing, in the event of a Change of Control (as defined in Section 7 herein), an additional 20% of such option shall vest upon the Change of Control (but in any event not to exceed 100% of the original option grant).
Initial Stock Options. The Company shall grant to the Executive options to purchase 2,500,000 shares of common stock of the Company. The exercise price of the options shall be $.04 per share. The Initial Stock Options shall have a term equal to the Term of this Agreement, plus two years after the termination of this Agreement, regardless of the reason for termination. The stock options shall vest 100% on the Effective Date. Upon the exercise of the stock options, Executive shall be deemed the owner of the common stock into which the stock options were exercisable. Upon any change in the number of outstanding shares of the Company's common stock by reason of a stock dividend, stock split, recapitalization, merger, consolidation, exchange of shares, reorganization or other change in the Company's corporate structure or stock, an appropriate and equitable adjustment will be made in the number of shares covered by this option and the option prices thereof. Any such adjustment shall not change the total option price applicable to the unexercised portion of this option, but will provide for corresponding adjustments in the option price for each share covered by this option. All adjustments and determinations made by the Board of Directors of the Company in connection therewith shall be effective and binding for all purposes of this option. The grant of this option shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or other changes of its capital or business structure, to merge or consolidate, or to dissolve, liquidate, sell or transfer all or any part of its business or assets, or to do any other corporate act, whether of a similar character or otherwise. Upon the exercise of the options, the Company shall immediately register the opted shares following the Executive's execution of the option.
Initial Stock Options. At the Effective Date, the Company shall --------------------- grant Executive stock options in 200,000 shares of the Company's $.00l par value common stock pursuant to the Company's 1997 Stock Option/Stock Issuance Plan (the "1997 Plan") with the purchase price, expiration date, type of option, vesting and other terms all as described on Exhibit A attached hereto. Subsequent grants may be awarded based on your performance and contributions to the business. Any stock options are subject to the approval of the Board.
Initial Stock Options. Upon the Parent’s adoption of an employee stock option plan, Employee will be granted options to purchase 3,450,000 shares of the Common Stock of the Parent at a price equal to the closing market price of the Common Stock on the date Employee commences employment. The options will vest in three equal annual installments and terminate ten years from the date of grant.
Initial Stock Options. On the Effective Date, the Company will grant Employee options to purchase 500,000 shares of the Company's common stock (the "Common Stock"). The terms of such options are set forth in a Stock Option Agreement, dated as of the Effective Date, between the Company and Employee, which is attached hereto as Exhibit_A.
Initial Stock Options. On the Effective Date, the Company shall grant the Executive the following options to purchase stock of the Company, which options shall be transferable by the Executive to members of his immediate family or to trusts or partnerships formed for the benefit of the Executive or members of his immediate family:
Initial Stock Options. You shall be entitled to receive stock options --------------------- to purchase up to an aggregate of 45,000 shares of common stock of the Company. Such options shall be priced on the closing price of the Company's Common Stock as reported by NASDAQ on the date you commence employment with the Company and shall vest as follows: 20% vesting after six months of employment and the remaining 80% vesting in four equal annual installments on the anniversary date of such grant. A copy of the form of option grant letters are attached hereto as Exhibit D. Notwithstanding the foregoing, in the event of a Change of --------- Control (as defined in Section 7 herein), an additional 20% of such option shall vest upon the Change of Control (but in any event not to exceed 100% of the original option grant).
Initial Stock Options. Company shall grant to Employee, conditioned upon Employee’s commencement of employment with Company, two hundred fifty thousand (250,000) options to purchase Class A Common Stock of Company at the Fair Market Value per share on the first date of Employee’s employment with Company. All such shares shall be subject to all conditions of the current Company stock option incentive plan provisions (a copy of which has been or will be provided to Employee), and will vest one-third (1/3) on the first anniversary of Employee’s employment with Company; one-third (1/3) on the second anniversary of such date; and one-third (1/3) on the third anniversary of such date. A Stock Option Agreement reflecting the foregoing grant and the terms of the grant and Company Plan, shall be executed by Company and Employee within fifteen (15) days of Employee’s commencement of employment with Company as set forth in Section 2.
Initial Stock Options. In consideration for entering into this Employment Agreement, the Holding Company hereby grants the Executive options to purchase 225,000 shares of the common stock of the Holding Company (the “Initial Stock Options”) with a strike price equal to the closing price of the common stock of the Holding Company on the date of execution of this Agreement, rounded to the closest quarter points up (0.25); provided, however, that the strike price shall not be less than $3.00. The aforementioned grant of the Initial Stock Options shall be subject to all the applicable terms and conditions of the Company’s Stock Option Plan, which are incorporated by reference herein. The Initial Stock Options shall be subject to a five-year vesting schedule (20% of the Initial Stock Options shall vest each year on each anniversary of the Executive’s employment hereunder). However, in the event of a change in control, all options become fully vested.
