Common use of Management Stock Incentive Program Clause in Contracts

Management Stock Incentive Program. The Executive shall participate in the Company's stock option, stock purchase, or other stock incentive plan generally available to executive officers of the Company and shall be eligible for the grant of stock options, restricted stock and other awards thereunder. In addition, the Board of Directors shall annually consider the Executive's performance and determine if any additional bonus is appropriate for the Executive. Furthermore, the Company confirms that the Executive has received 450,000 stock options (the "IPO Options") under the Melita International Corporation 1992 Discounted Stock Option Plan (the "Stock Option Plan") to purchase, subject to the terms and conditions of the Plan, shares of the Company's common stock and that, in accordance with such plan and grant, all stock options granted by the Company to the Executive pursuant to the Stock Option Plan shall vest upon the occurrence of the Initial Public Offering. In accordance with the terms of the Stock Option Plan, no such IPO Options are exercisable by the Executive prior to 14 months after the Initial Public Offering.