Non-Statutory Stock Options. The Option granted hereunder is not intended to be an incentive stock option within the meaning of Section 422 of the Code.
Non-Statutory Stock Options. The Committee may, subject to the limitations of this Plan and the availability of shares of Common Stock reserved but not previously awarded under the Plan, grant Non-Statutory Stock Options to eligible individuals upon such terms and conditions as it may determine to the extent such terms and conditions are consistent with the following provisions:
Non-Statutory Stock Options. Simultaneously with the execution of this Agreement, the Executive will receive a three-year non-statutory stock option to purchase up to Two Hundred Fifty Thousand (250,000) shares of unregistered $0.001 par value common stock of the Company at a strike price equal to fair market value on the agreed date of grant ($1.267), which option shall vest in twelve (12) equal monthly installments starting on January 31, 2022 (the “NSO”). The Executive understands and acknowledges that the Executive will be required to pay taxes on the exercise of the non-statutory stock option and is advised to consult his own tax advisors as to the advisability of making a Section 83(b) Election (which must be done within thirty (30) days) and other tax consequences.
Non-Statutory Stock Options. So long as Xxxxx is employed by the Companies, he shall be eligible to receive, solely at the discretion of the Board of Directors of Trinity, Non-statutory (or non-qualified) Stock Options ("NSO's") for shares of common stock of Trinity (the "Shares"). Such NSO's shall vest and become exercisable in accordance with, and subject to, all the terms and restrictions of the Companies' 1998 Stock Option Plan, a copy of which is attached hereto and incorporated herein as Exhibit A. The Board of Directors of Trinity shall determine annually the number of shares, if any, to be granted to Xxxxx under the 1998 Stock Option Plan, based upon Xxxxx' performance. In the event that a change is the controlling interests in Trinity occurs, as defined in Section 8, then Xxxxx shall be entitled to a vested grant of options in the amount of 3,500 shares for each full year remaining under this contract.
Non-Statutory Stock Options. No income is recognized by a holder of Non-statutory Stock Options at the time Non-statutory Stock Options are granted under the Option Plan. In general, at the time shares of Common Stock are issued to a holder pursuant to exercise of Non-statutory Stock Options, the holder will recognize ordinary income equal to the excess of the fair market value of the shares on the date of exercise over the exercise price. A holder will recognize gain or loss on the subsequent sale of Common Stock acquired upon exercise of Non-statutory Stock Options in an amount equal to the difference between the selling
Non-Statutory Stock Options. The Committee may also grant Non-Statutory Stock Options. The option price may not be less than 100% of the fair market value of the Common Stock when the option is granted. The term of the option may not exceed ten years plus seven days, the purchase price will be paid as described in clause (3) above, the option will expire as described in clause (4) above, and the number of shares covered by options granted to any one employee in any fiscal year will be limited as described in clause (5) above.
Non-Statutory Stock Options. Non-Statutory Stock Options granted pursuant to this Article are not intended to constitute "incentive stock options under Section 422 of the Code. The Non-Statutory Stock Option Agreement shall contain terms and provisions determined by the Committee and consistent with this Plan. The Committee from time to time may grant Non-Statutory Stock Options to Participants under this Plan, which grants shall be evidenced by Non-Statutory Stock Option Agreements.
Non-Statutory Stock Options. Subject to the terms and conditions of this Agreement, including but not limited to the forfeiture provisions set forth in Sections 6 and 7 of this Agreement, Employee is granted, under the Equity Ownership Plan of Entergy Corporation and Subsidiaries ("EOP") and as of the effective date of this Agreement, the right ("Options") to purchase TWO HUNDRED THOUSAND (200,000) shares of common stock of Entergy Corporation, $0.01 par value per share ("Common Stock"), at an exercise price of $30.4375 per share ("Exercise Price"). Notwithstanding any vesting provisions applicable with respect to other option grants under the EOP, as may be amended from time to time, the Options described under this Section 4(a) that are granted to Employee under the EOP shall vest at the rate of 20% on each Vesting Anniversary Date set forth below and shall not be accelerated in the event of Employee's termination of employment or retirement prior to February 1, 2004, except as the EOP may otherwise allow on account of Employee's permanent disability under a Company-sponsored long term disability plan. Except as otherwise provided in Section 7 (in the event of a Change of Control), if Employee's employment with all System Companies is terminated prior to February 1, 2004, for any reason (including, but not limited to, voluntary or involuntary termination, death, or retirement) or if for any other reason set forth in Section 6 or 7 of this Agreement a forfeiture of benefits occurs, any Options in which Employee has not yet vested at the time of such termination or breach shall be forfeited by Employee. Number of Options Vested on Vesting Anniversary Date 40,000 February 1, 2000 40,000 February 1, 2001 40,000 February 1, 2002 40,000 February 1, 2003 40,000 February 1, 2004 The Options granted under the EOP and in accordance with the terms of this Section 4(a) shall have an exercise period that ends 10 years from the date of grant (i.e., July 29, 2009). An Option may not be exercised, however, before the Vesting Anniversary Date on which the Option vests. If Employee should die prior to exercising some or all of the Options in which he became vested prior to his death, such Options shall be exercisable by Employee's legatees or heirs in accordance with the terms and conditions of the EOP.
Non-Statutory Stock Options. A participant will not have income upon the grant of a non-statutory stock option. A participant will have compensation income upon the exercise of a non-statutory stock option equal to the value of the stock on the day the participant exercised the option less the exercise price. Upon sale of the stock, the participant will have capital gain or loss equal to the difference between the sales proceeds and the value of the stock on the day the option was exercised. This capital gain or loss will be long-term if the participant has held the stock for more than one year and otherwise will be short-term.
Non-Statutory Stock Options. Non-Statutory Stock Options shall be subject to the following additional terms and conditions:
