Plan Option Sample Clauses
Plan Option. In the event the City of Hayward Deferred Compensation Committee determines that a 401(a) plan option shall be available to the City of Hayward, the City shall amend its Plan and such option shall be made available to HAME-represented employees pursuant to IRS regulations governing the operation of such plans.
Plan Option. Effective on the Employment Date, the Company shall award the Executive an option to purchase one hundred thousand (100,000) shares of the Company's common stock ("Stock") under the 1994 Equity Incentive Plan (the "Equity Plan"), subject to the vesting schedule set forth in this Section 4(a). Such option is referred to in this Agreement as the Plan Option. Shares subject to the Plan Option shall be priced at the Fair Market Value (as defined in the Equity Plan) on the Employment Date. Subject to the provisions of Section 13(f) hereunder, the Plan Option shall vest in four (4) equal annual installments, beginning on the last day of the first year of the Executive's employment and continuing on the three following anniversaries thereof. The Plan Option shall be subject to the Equity Plan. The award of the Plan Option shall further be subject to the Executive's execution of a Non-Qualified Stock Option Agreement in the form of Exhibit A.