LANDEC OPTION GRANT Sample Clauses

LANDEC OPTION GRANT. At the Closing, Landec will issue to Xxxxxxxx options to purchase 850,000 shares of the Common Stock of Landec (the "LANDEC OPTION") with an exercise price equal to the fair market value of the underlying shares as of such date, as measured in accordance with the appropriate accounting policies of Landec. The right to exercise the Landec Option will vest at the rate of 1/2 of the shares subject thereto on the first anniversary of the date of the grant and an additional 1/24th of the shares subject thereto at the end of each one month period thereafter (total vesting in 24 months), provided that as of each such date, Xxxxxxxx' employment with New Apio has not been terminated. In the event Xxxxxxxx' employment is terminated by Involuntary Termination, Xxxxxxxx' right to exercise the Landec Option will vest immediately in full. The Landec Option will be an Incentive Stock Option to the maximum extent allowed by the Internal Revenue Code of 1986, as amended, and will be subject to the terms of each of the Stock Option Agreements attached hereto as EXHIBIT A-1 AND A-2. The right to exercise the Landec Option as to 60,000 shares shall terminate upon the earlier of the sixth anniversary of the date of issuance or thirty (30) days after the termination of Xxxxxxxx' employment and the Landec Option as to 790,000 shares shall terminate upon the sixth anniversary of the date of issuance or, if Xxxxxxxx employment with New Apio is terminated other than by Involuntary Termination, thirty (30) days after the termination of employment. In addition to the Landec Option, to the extent any shares of Common Stock of Landec subject to any option granted to the Chief Operating Officer of New Apio do not vest due to such Chief Operating Officer's termination of employment, within five (5) years after the date of his hiring, Landec agrees to grant an additional option for such number of unvested shares of Landec Common Stock (not to exceed 150,000 shares) to Xxxxxxxx at the fair market value of such stock at the time of such termination and Xxxxxxxx' right to exercise such options shall vest in accordance with this Section 3(b).
Sample 1
AutoNDA by SimpleDocs

Related to LANDEC OPTION GRANT

  • 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.

  • Stock Option Grant Subject to the provisions set forth herein and the terms and conditions of the Plan, and in consideration of the agreements of the Participant herein provided, the Company hereby grants to the Participant an Option to purchase from the Company the number of shares of Common Stock, at the exercise price per share, and on the schedule, set forth above.

  • Option Grant The Company hereby grants to the Optionee on the terms and conditions of this Agreement the right and the option (the “Option”) to purchase all or any part of shares of the Company’s Class A Common Stock at a purchase price of $ per share. The terms and conditions of the Option grant set forth in attached Exhibit A are incorporated into and made a part of this Agreement. The Option is intended to be an Incentive Stock Option as defined in Section 422 of the Internal Revenue Code of 1986, as amended.

  • Stock Option Grants Executive will receive an annual grant of stock options during the term of this Agreement in a manner and under terms that are consistent with grants made to other executives of the Company.

  • Stock Option The Corporation hereby grants to the Optionee the option (the "Stock Option") to purchase that number of shares of Class A Common Stock of the Corporation, par value $.01 per share, set forth on Schedule A. The Corporation will issue these shares as fully paid and nonassessable shares upon the Optionee's exercise of the Stock Option. The Optionee may exercise the Stock Option in accordance with this Agreement any time prior to the tenth anniversary of the date of grant of the Stock Option evidenced by this Agreement, unless earlier terminated according to the terms of this Agreement. Schedule A sets forth the date or dates after which the Optionee may exercise all or part of the Stock Option, subject to the provisions of the Plan.

  • Initial Stock Option Grant You will be awarded options in respect of Koninklijke common stock (your “Initial Stock Options”). The number of Initial Stock Options to be awarded to you is stated in the Schedule. The vesting schedule for your Initial Stock Options is stated in the Schedule. Your Initial Stock Options will be subject to the terms of LTIP and to the terms of your award agreement under it.

  • Option Award The Company hereby awards Grantee an Option to purchase shares of Company common stock, par value $.01 per share (“Shares”), pursuant to this Agreement at an exercise price per Share of $XX.XX, subject to the terms and conditions set forth herein and in the Plan. The Option may not be exercised in whole or in part as of the Grant Date, and becomes exercisable only if and to the extent provided in the following paragraphs and otherwise subject to and in accordance with the Plan.

  • NOTICE OF STOCK OPTION GRANT Name: Address: You have been granted an option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Award Agreement, as follows: Grant Number Date of Grant Vesting Commencement Date Exercise Price per Share $ Total Number of Shares Granted Total Exercise Price $ Type of Option: Incentive Stock Option Nonstatutory Stock Option Term/Expiration Date:

  • Stock Option Award Within the 60-day period following the Start Date, Executive will receive an award of stock options to purchase Common Stock (the “Options”). The terms and conditions of the Options will be governed by Parent’s 2010 Equity Incentive Plan and the Stock Option Agreement in substantially the form attached hereto as Exhibit A. The number of shares covered by such Options shall equal 10,000. The Options shall have a per share exercise price equal to the fair market value per share of such Option on the date of grant, as determined by the Board.

  • Stock Option Vesting The provisions of this Section 2.2(d) shall apply to any equity based awards under the Omnibus Plan, the defined terms of which are incorporated in this Section 2.2(d) by reference.

Time is Money Join Law Insider Premium to draft better contracts faster.