Common use of Options Granted Clause in Contracts

Options Granted. The Company hereby grants the Optionee non-qualified stock options to purchase Two Hundred Thousand (200,000) shares of the Company’s Common Stock at a purchase price of $0.53 US per share for a term commencing on the vesting dates set out below (the “Vesting Date”) and expiring at 5:00 pm (Pacific Time) on the expiration dates set out below (the “Expiration Date”), subject to termination as set forth herein. Subject to the Compensation Committee of the Company’s Board of Directors, or if there are no active members of the Compensation Committee, a majority of the Company’s Board of Directors not including the Optionee, determining that the Optionee has, from the Grant Date to the respective vesting dates set out below, reasonably fulfilled his duties and obligations as a director of the Company, the options will vest on the following schedule: Number of Options to Vest Vesting Date Expiration Date 100,000 June 30, 2010 June 29, 2015 50,000 September 30, 2010 September 29, 2015 50,000 December 31, 2010 December 30, 2015 No option may be exercised unless the option has vested. The vesting of all options will be cumulative. All options which have not vested will terminate on the date of termination of the options in accordance with this Agreement.

Appears in 2 contracts

Samples: Director Non Qualified Stock Option Agreement (Ireland Inc.), Director Non Qualified Stock Option Agreement (Ireland Inc.)

AutoNDA by SimpleDocs

Options Granted. The Company hereby grants the Optionee non-qualified stock options (the “Options”) to purchase Two Six Hundred Fifty Thousand (200,000650,000) shares of the Company’s Common Stock at a the purchase price of $0.53 US prices per share set out below for a term commencing on the vesting dates set out below (the “Vesting Date”) and expiring at 5:00 pm (Pacific Time) on the expiration dates set out below (the “Expiration Date”), subject to termination as set forth herein. Subject to a vote of a majority of the members of the Compensation Committee of the Company’s Board of Directors, or if there are no active members of the Compensation Committee, a majority of the Company’s Board of Directors not including the Optionee, determining that the Optionee has, from the Grant Date to the respective vesting dates set out below, reasonably fulfilled his duties and obligations as a director of the Company, the options Options will vest on the following schedule: Number of Options to Vest Purchase Price Per Share Vesting Date Expiration Date 100,000 June 150,000 $ 4.80 January 31, 2011 January 30, 2010 June 292016 150,000 $ 5.28 January 31, 2015 50,000 September 2012 January 30, 2010 September 29, 2015 50,000 December 31, 2010 December 30, 2015 2017 No option Option may be exercised unless the option Option has vested. The vesting of all options Options will be cumulative. All options Options which have not vested will terminate on the date of termination of the options Options in accordance with this Agreement.

Appears in 1 contract

Samples: Non Qualified Stock Option Award Agreement (Cross Border Resources, Inc.)

Options Granted. The Company hereby grants the Optionee non-qualified stock options (the “Options”) to purchase Two Six Hundred Fifty Thousand (200,000650,000) shares of the Company’s Common Stock at a the purchase price of $0.53 US prices per share set out below for a term commencing on the vesting dates set out below (the “Vesting Date”) and expiring at 5:00 pm (Pacific Time) on the expiration dates set out below (the “Expiration Date”), subject to termination as set forth herein. Subject to a vote of a majority of the members of the Compensation Committee of the Company’s Board of Directors, or if there are no active members of the Compensation Committee, a majority of the Company’s Board of Directors not including the Optionee, determining that the Optionee has, from the Grant Date to the respective vesting dates set out below, reasonably fulfilled his duties and obligations as a director of the Company, the options Options will vest on the following schedule: Number of Options to Vest Purchase Price Per Share Vesting Date Expiration Date 100,000 June 300,000 $ 4.80 January 31, 2011 January 30, 2010 June 292016 125,000 $ 5.28 January 31, 2015 50,000 September 2012 January 30, 2010 September 29, 2015 50,000 December 2017 125,000 $ 5.80 January 31, 2010 December 2013 January 30, 2015 2018 100,000 $ 6.38 January 31, 2014 January 30, 2019 No option Option may be exercised unless the option Option has vested. The vesting of all options Options will be cumulative. All options Options which have not vested will terminate on the date of termination of the options Options in accordance with this Agreement.

Appears in 1 contract

Samples: Non Qualified Stock Option Award Agreement (Cross Border Resources, Inc.)

Options Granted. The Company hereby grants the Optionee non-qualified stock options to purchase Two Hundred Thousand (200,000) shares of the Company’s Common Stock at a purchase price of $0.53 0.36 US per share for a term commencing on the vesting dates set out below (the “Vesting Date”) and expiring at 5:00 pm (Pacific Time) on the expiration dates set out below (the “Expiration Date”), subject to termination as set forth herein. Subject to the Compensation Committee of the Company’s Board of Directors, or if there are no active members of the Compensation Committee, a majority of the Company’s Board of Directors not including the Optionee, determining that the Optionee has, from the Grant Date to the respective vesting dates set out below, reasonably fulfilled his duties and obligations as a director of the Company, the options will vest on the following schedule: Number of Options to Vest Vesting Date Expiration Date 100,000 50,000 Immediately March 30, 2016 50,000 June 30, 2010 2011 June 29, 2015 2016 50,000 September 30, 2010 2011 September 29, 2015 2016 50,000 December 31, 2010 2011 December 30, 2015 2016 No option may be exercised unless the option has vested. The vesting of all options will be cumulative. All options which have not vested will terminate on the date of termination of the options in accordance with this Agreement.

Appears in 1 contract

Samples: Non Qualified Stock Option Agreement (Ireland Inc.)

AutoNDA by SimpleDocs

Options Granted. The Company hereby grants the Optionee non-qualified stock options (the “Options”) to purchase Two Six Hundred Fifty Thousand (200,000650,000) shares of the Company’s Common Stock at a the purchase price of $0.53 US prices per share set out below for a term commencing on the vesting dates set out below (the “Vesting Date”) and expiring at 5:00 pm (Pacific Time) on the expiration dates set out below (the “Expiration Date”), subject to termination as set forth herein. Subject to a vote of a majority of the members of the Compensation Committee of the Company’s Board of Directors, or if there are no active members of the Compensation Committee, a majority of the Company’s Board of Directors not including the Optionee, determining that the Optionee has, from the Grant Date to the respective vesting dates set out below, reasonably fulfilled his duties and obligations as a director of the Company, the options Options will vest on the following schedule: Number of Options to Vest Purchase Price Per Share Vesting Date Expiration Date 100,000 June $ 4.80 January 31, 2011 January 30, 2010 June 292016 100,000 $ 5.28 January 31, 2015 50,000 September 2012 January 30, 2010 September 29, 2015 2017 50,000 December $ 5.80 January 31, 2010 December 2013 January 30, 2015 2018 50,000 $ 6.38 January 31, 2014 January 30, 2019 No option Option may be exercised unless the option Option has vested. The vesting of all options Options will be cumulative. All options Options which have not vested will terminate on the date of termination of the options Options in accordance with this Agreement.

Appears in 1 contract

Samples: Non Qualified Stock Option Award Agreement (Cross Border Resources, Inc.)

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