New Stock Option Plan Sample Clauses

New Stock Option Plan. (a) At or prior to the Effective Time, the Company shall approve and adopt, or cause to be approved and adopted, a stock option plan substantially similar in form and substance as the Stock Option Plan (the “New Stock Option Plan”), but with such changes as Parent may reasonably request that do not impair the rights of any option holder, as compared with such person’s rights pursuant to the Stock Option Plan, which shall become effective as of the Effective Time.
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New Stock Option Plan. Between the date hereof and the Closing Date, the Company shall adopt and approve and use its best efforts to effect, immediately after the Closing, the New Stock Option Plan. The New Stock Option Plan and the stock option agreements executed and delivered thereunder shall be based on the terms outlined on Schedule III hereto and shall provide for the grant of stock options to employees of the Company in three tranches from a pool of stock options constituting approximately 17.5% of the issued and outstanding shares of Common Stock of the Company on the Closing Date on a fully-diluted basis, calculated in accordance with Schedule III hereto. Following the adoption of the New Stock Option Plan, the Company will use its best efforts to cause the holders of stock
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New Stock Option Plan. The New Stock Option Plan containing terms substantially in the form of Schedule III hereto shall have been approved by the Purchasers and the Company.
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New Stock Option Plan. Prior to the Closing, Parent shall establish a new stock option plan, pursuant to which officers, directors, key employees and consultants of the Company and Parent shall be eligible to receive stock options to purchase an aggregate of 2,500,000 shares of Parent Common Stock at an exercise price of not less than $2.00 per share, of which no more than 1,000,000 shares shall be granted at Closing.
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New Stock Option Plan. Promptly after the Effective Time, --------------------- the Corporation will take all steps reasonably necessary to cause the Corporation to adopt the 1998 Incentive Stock Plan, and to grant options thereunder, substantially on the terms attached hereto as Exhibit D. This --------- provision shall not confer a specific benefit on any employee other than the Major Stockholder.
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New Stock Option Plan. Investor covenants that, as soon as practicable after the adjustment referred to in Section 5.1l(b), it shall cause the Company to adopt a stock option plan for issuance of options to management and other key employees of the Company to purchase shares of common stock, no par value per share, of the Company equal to an aggregate of 12% of the outstanding capital stock of the Company after giving effect to the adjustment referred to in Section 5.1l(b); provided that five-sixths (5/6) of the total amount of such options shall be issued to such management and other key employees of the Company as soon as practicable after the adoption of such stock option plan and the remainder shall be issued from time to time at the discretion of the Board.
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Related to New Stock Option Plan

  • Stock Option Plan The Executive shall be eligible to participate in the Company's Stock Option Plan in accordance with the terms and conditions thereof.

  • Employee Stock Option Plan Employee shall be entitled to participate in the Employee Stock Option Plan of the Company once approved by the Board of Directors.

  • Stock Option Plans Each stock option granted by the Company under the Company’s stock option plan was granted (i) in accordance with the terms of the Company’s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Company Stock Option Plans Simultaneously with the execution of this Agreement, the Board of Directors of the Company (or, if appropriate, any committee administering the Company Stock Option Plans) shall adopt such resolutions or take such other actions as are required to effect the transactions contemplated by Section 2.10 in respect of all outstanding Options and thereafter the Board of Directors of the Company (or any such committee) shall adopt any such additional resolutions and take such additional actions as are required in furtherance of the foregoing.

  • Share Option Plans Each share option granted by the Company under the Company’s share option plan was granted (i) in accordance with the terms of the Company’s share option plan and (ii) with an exercise price at least equal to the fair market value of the Ordinary Shares on the date such share option would be considered granted under GAAP and applicable law. No share option granted under the Company’s share option plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, share options prior to, or otherwise knowingly coordinate the grant of share options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Stock Option Plans, Etc Accelerate, amend or change the period of exercisability or vesting of options or other rights granted under its stock plans or authorize cash payments in exchange for any options or other rights granted under any of such plans;

  • 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.

  • Nonstatutory Stock Option The Optionee may incur regular federal income tax liability upon exercise of a NSO. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price. If the Optionee is an Employee or a former Employee, the Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

  • 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.

  • Employee Stock Options (a) At the Effective Time, each Eligible Stock Option that is then outstanding under the Company Option Plan, whether vested or unvested, shall be assumed by Parent in accordance with the terms (as in effect as of the date of this Agreement) of the Company Option Plan and the stock option agreement by which such Eligible Stock Option is evidenced. All rights with respect to Company Common Stock under outstanding Eligible Stock Options shall thereupon be converted into rights with respect to Parent Common Stock. Accordingly, from and after the Effective Time, (a) each Eligible Stock Option assumed by Parent may be exercised solely for shares of Parent Common Stock, (b) the number of shares of Parent Common Stock subject to each such assumed Eligible Stock Option shall be equal to the number of shares of Company Common Stock that were subject to such Eligible Stock Option immediately prior to the Effective Time multiplied by the Exchange Ratio, rounded down to the nearest whole number of shares of Parent Common Stock, (c) the per share exercise price for the Parent Common Stock issuable upon exercise of each such assumed Eligible Stock Option shall be determined by dividing the exercise price per share of Company Common Stock subject to such Eligible Stock Option, as in effect immediately prior to the Effective Time, by the Exchange Ratio, and rounding the resulting exercise price up to the nearest whole cent, and (d) all restrictions on the exercise of each such assumed Eligible Stock Option shall continue in full force and effect, and the term, exercisability, vesting schedule and other provisions of such Eligible Stock Option shall otherwise remain unchanged; provided, however, that each such assumed Eligible Stock Option shall, in accordance with its terms, be subject to further adjustment as appropriate to reflect any stock split, reverse stock split, stock dividend, recapitalization or other similar transaction effected by Parent after the Effective Time. The Company and Parent shall take all action that may be necessary (under the Company Option Plan and otherwise) to effectuate the provisions of this Section 1.6.

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