PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN Sample Clauses

PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Executive is a current participant in the Company's Employee Stock Option and Incentive Plan and has been granted options pursuant to the terms of individual option grants. Executive shall be considered for additional grants of options, stock appreciation rights, phantom stock rights, and any similar option or securities or equity compensation when and as such grants are considered for other executives or employees of the Company.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Initial Option Grant. Executive shall be granted an option to purchase 200,000 shares of Common Stock of the Company pursuant to the terms and conditions contained in the Company's Stock and Option and Incentive Award Plan, (the "Plan") at an exercise price equal to $1.00 per share. These options are in addition to any and all previous option grants to Employee by the Company.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. Executive shall be granted options to purchase 300,000 shares of Common Stock of the Company (the "OPTIONS"), The Options, which will be evidenced by Stock Option Agreements in the forms attached hereto as EXHIBIT "A," at an exercise price equal to the closing price of the Company's Common Stock on the American Stock Exchange as calculated on the 1st reporting day of June. These Options vest ratably over a three-year period on each anniversary of this Agreement, and shall be exercisable for a period of five years from each applicable vesting period during employment. Should a termination occur between the parties, then the Executive will have a three-month period to exercise any stock that has vested.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Executive shall be granted (i) options (the "$2.50 Options") to purchase 400,000 shares of Common Stock of the Company pursuant to the terms and conditions contained in the Company's Stock and Option and Incentive Award Plan, (the "Plan") at an exercise price equal to $2.50 per share; and (ii) options (the "$5.00 Options") to purchase 400,000 shares of Common Stock of the Company pursuant to the terms and conditions contained in the Plan at an exercise price equal to $5.00 per share. The $2.50 Options and the $5.00 Options shall vest ratably over a four-year period on each anniversary of the Effective Date.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Executive shall receive additional grants of options, stock appreciation rights, phantom stock rights, and any similar option or securities or equity compensation when and as such grants are considered for other executives or employees of the Company in an amount equal to 25% of the total number of options granted to all executives and employees in any calendar year during the term of this contract beginning in 2003.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Initial Option Grant. Executive shall be granted 300,000 options to purchase 300,000 shares of Common Stock of the Company pursuant to the terms and conditions contained in the Company's Stock and Option and Incentive Award Plan, (the "Plan") at an exercise price equal to $3.00 per share as to 200,000 options and $3.15 per share as to the remaining 100,000 options. The vesting of these options shall be as follows: (1) 100,000 of the $3.00 options vest upon execution of this Agreement and (2) the remaining 200,000 options vest quarterly in eight (8) equal amounts.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. 10.1 Executive shall be granted an option (the "1998 Options") to purchase 50,000 shares of Common Stock of the Company (the "Option Shares") pursuant to the terms and conditions contained in the Company's 1996 Stock and Option and Incentive Award Plan, (the "Plan"). The exercise price for the Option Shares will be equal to $5.00 per share, and the options will vest ratably over three years on each anniversary of the Effective Date commencing on June 1, 1999.
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PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN. The Company and Executive acknowledge that the Company previously agreed to grant Executive incentive stock options to purchase 350,000 shares of Common Stock of the Company at an exercise price of $.25 per share, all of which options are fully vested. In addition, in connection with this Agreement, Executive shall be granted incentive stock options to purchase 10,000 shares and a non-statutory stock option to purchase 590,000 shares of Common Stock of the Company at an exercise price of $1.21875 per share, 300,000 of which options shall vest on December 31, 2000 (including 10,000 incentive stock options and 290,000 non-statutory stock options) and 300,000 of which shall vest on December 31, 2001, such vesting to be conditioned upon Executive being employed with the Company on such vesting dates. In addition, if the closing price of the Company's Common Stock, as quoted on the Nasdaq Bulletin Board (or other Nasdaq stock market market or national stock exchange), is $7.00 or higher for 10 consecutive trading days, all of Executive's stock options shall be immediately vested. All of Executive's stock options referred to herein shall expire on December 31, 2009. The Company agrees to file a registration statement covering all of the stock options referred to herein on Form S-8 on or before April 30, 2000.
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Related to PARTICIPATION IN STOCK AND OPTION EXECUTIVE COMPENSATION PLAN

  • Incentive Compensation Plans The occurrence of any of the following: (i) a material reduction by the Corporation in the Executive’s (A) annual incentive compensation target or maximum opportunity, or (B) long-term incentive compensation target or maximum opportunity (measured based on grant date fair value of any equity-based awards), in each case, as in effect immediately prior to the Change in Control, or (ii) a change in the performance conditions, vesting, or other material terms and conditions applicable to annual and/or long-term incentive compensation awards granted to Executive after the Change in Control which would have the effect of materially reducing the Executive’s aggregate potential incentive compensation from the level in effect immediately prior to the Change in Control; or

  • Executive Compensation Plans Executive shall be entitled during the Term to participate, without discrimination or duplication, in executive compensation plans and programs intended for general participation by senior executives of the Bank, as presently in effect or as they may be modified or added to by the Bank from time to time, subject to the eligibility and other requirements of such plans and programs, including without limitation any stock option plans, plans under which restricted stock/restricted stock units, performance-based restricted stock/restricted stock units or performance-accelerated restricted stock/restricted stock units (collectively, “stock plans”) may be awarded, other annual and long-term cash and/or equity incentive plans, and deferred compensation plans. The Bank makes no commitment under this Section 5(a) to provide participation opportunities to Executive in all plans and programs or at levels equal to (or otherwise comparable to) the participation opportunity of any other executive.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Long-term Incentive Compensation Programs During the Employment Period, the Executive shall participate in all long-term incentive compensation programs (including, without limitation, programs providing for the grant of stock options and other equity-based awards) for key executives at a level that is commensurate with the Executive's participation in such plans immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available to the Executive or other similarly situated officers at any time thereafter.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Equity Incentive Compensation During the term of employment hereunder the Executive shall be eligible to participate, in an appropriate manner relative to other senior executives of the Parent and its subsidiaries, in any equity-based incentive compensation plan or program approved by the Board from time to time, including (but not by way of limitation) any plan providing for the granting of (a) options to purchase stock of the Parent, (b) restricted stock of the Parent or (c) similar equity-based units or interests.

  • Participation in Retirement and Employee Benefit Plans The Employee shall be entitled to participate in all plans relating to pension, thrift, profit-sharing, group life and disability insurance, medical and dental coverage, education, cash bonuses, and other retirement or employee benefits or combinations thereof, in which the Bank's executive officers participate.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Deferred Compensation Plans Borrower has no pension, profit sharing or other compensatory or similar plan (herein called a “Plan”) providing for a program of deferred compensation for any employee or officer. No fact or situation, including but not limited to, any “Reportable Event,” as that term is defined in Section 4043 of the Employee Retirement Income Security Act of 1974 as the same may be amended from time to time (“Pension Reform Act”), exists or will exist in connection with any Plan of Borrower which might constitute grounds for termination of any Plan by the Pension Benefit Guaranty Corporation or cause the appointment by the appropriate United States District Court of a Trustee to administer any such Plan. No “Prohibited Transaction” within the meaning of Section 406 of the Pension Reform Act exists or will exist upon the execution and delivery of the Agreement or the performance by the parties hereto of their respective duties and obligations hereunder. Borrower will (1) at all times make prompt payment of contributions required to meet the minimum funding standards set forth in Sections 302 through 305 of the Pension Reform Act with respect to each of its Plans; (2) promptly, after the filing thereof, furnish to Agent copies of each annual report required to be filed pursuant to Section 103 of the Pension Reform Act in connection with each Plan for each Plan Year, including any certified financial statements or actuarial statements required pursuant to said Section 103; (3) notify Agent immediately of any fact, including, but not limited to, any Reportable Event arising in connection with any Plan which might constitute grounds for termination thereof by the Pension Benefit Guaranty Corporation or for the appointment by the appropriate United States District Court of a Trustee to administer the Plan; and (4) notify Agent of any “Prohibited Transaction” as that term is defined in Section 406 of the Pension Reform Act. Borrower will not (a) engage in any Prohibited Transaction or (b) terminate any such Plan in a manner which could result in the imposition of a Lien on the Property of Borrower pursuant to Section 4068 of the Pension Reform Act.

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