Common use of Primary Grant Clause in Contracts

Primary Grant. As an inducement for the execution of this Employment Agreement by the Employee, on the date of approval by the Compensation Committee, which date shall not be more than sixty (60) days after the Execution Date (the “Grant Date”), the Employee shall be granted options to purchase one hundred nineteen (119) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare Holdings Corp., a Delaware corporation and the parent corporation of the Company (“Onex Rescare”). Such stock options (the “Primary Options’) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Onex Rescare Holdings Corp. Stock Option Plan (the “Stock Plan”) and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit B. Provided the Employee shall continue to be employed hereunder, twenty percent (20%) of the Primary Options shall vest and be exercisable on each of the first five (5) anniversaries of the Grant Date (with such number of shares to be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like). Any Primary Options that shall not be vested at the effective date of termination of the Employee’s employment hereunder shall expire and any vested Primary Options shall expire in accordance with the terms of the Stock Plan. The Primary Options shall have an exercise price equal to $5,000 per share.

Appears in 2 contracts

Samples: Employment Agreement (Res Care Inc /Ky/), Employment Agreement (Res Care Inc /Ky/)

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Primary Grant. As an inducement for the execution of this Employment Agreement by the Employee, on the date of approval by the Compensation Talent Management Committee, which date shall not be more than sixty (60) days after the Execution Date (the “Grant Date”)Date”),in addition to Stock Options Granted on April 1, 2011 the Employee shall be granted options to purchase one two hundred nineteen fourteen (119214) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare Holdings Corp., a Delaware corporation and the parent corporation of the Company (“Onex Rescare”). Such stock options (the “Primary Options’) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Onex Rescare Holdings Corp. Stock Option Plan (the “Stock Plan”) and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit B. Provided the Employee shall continue to be employed hereunder, twenty percent (20%) of the Primary Options shall vest and be exercisable on each of the first five (5) anniversaries of the Grant Date (with such number of shares to be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like). Any Primary Options that shall not be vested at the effective date of termination of the Employee’s employment hereunder shall expire and any vested Primary Options shall expire in accordance with the terms of the Stock Plan. The Primary Options shall have an exercise price equal to $5,000 6,630 per share.

Appears in 1 contract

Samples: Employment Agreement (Res Care Inc /Ky/)

Primary Grant. As an inducement for the execution of this Employment Agreement by the Employee, on the date of approval by the Compensation Committee, which date shall not be more than sixty (60) days after the Execution Date (the “Grant Date”), the Employee shall be granted options to purchase one two hundred nineteen thirty-eight (119238) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare Holdings Corp., a Delaware corporation and the parent corporation of the Company (“Onex Rescare”). Such stock options (the “Primary Options’) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Onex Rescare Holdings Corp. Stock Option Plan (the “Stock Plan”) and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit B. Provided the Employee shall continue to be employed hereunder, twenty percent (20%) of the Primary Options shall vest and be exercisable on each of the first five (5) anniversaries of the Grant Date (with such number of shares to be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like). Any Primary Options that shall not be vested at the effective date of termination of the Employee’s employment hereunder shall expire and any vested Primary Options shall expire in accordance with the terms of the Stock Plan. The Primary Options shall have an exercise price equal to $5,000 per share.

Appears in 1 contract

Samples: Employment Agreement (Res Care Inc /Ky/)

Primary Grant. As an inducement for the execution of this Employment Agreement by the Employee, on the date of approval by the Compensation Committee, which date shall not be more than sixty (60) days after the Execution Date (the “Grant Date”), the Employee shall be granted options to purchase one seven hundred nineteen fourteen (119714) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare Holdings Corp., a Delaware corporation and the parent corporation of the Company (“Onex Rescare”). Such stock options (the “Primary Options’) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Onex Rescare Holdings Corp. Stock Option Plan (the “Stock Plan”) and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit B. Provided the Employee shall continue to be employed hereunder, twenty percent (20%) of the Primary Options shall vest and be exercisable on each of the first five (5) anniversaries of the Grant Date (with such number of shares to be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like). Any Primary Options that shall not be vested at the effective date of termination of the Employee’s employment hereunder shall expire and any vested Primary Options shall expire in accordance with the terms of the Stock Plan. The Primary Options shall have an exercise price equal to $5,000 per share.

Appears in 1 contract

Samples: Employment Agreement (Res Care Inc /Ky/)

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Primary Grant. As an inducement for the execution of this Employment Agreement by the Employee, on the date of approval by the Compensation Committee, which date shall not be more than sixty (60) days after the Execution Date (the “Grant Date”), the Employee shall be granted options to purchase one four hundred nineteen seventy-six (119476) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare Holdings Corp., a Delaware corporation and the parent corporation of the Company (“Onex Rescare”). Such stock options (the “Primary Options’) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Onex Rescare Holdings Corp. Stock Option Plan (the “Stock Plan”) and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit B. Provided the Employee shall continue to be employed hereunder, twenty percent (20%) of the Primary Options shall vest and be exercisable on each of the first five (5) anniversaries of the Grant Date (with such number of shares to be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like). Any Primary Options that shall not be vested at the effective date of termination of the Employee’s employment hereunder shall expire and any vested Primary Options shall expire in accordance with the terms of the Stock Plan. The Primary Options shall have an exercise price equal to $5,000 per share.

Appears in 1 contract

Samples: Employment Agreement (Res Care Inc /Ky/)

Primary Grant. As an inducement for the execution of this Employment Agreement by the Employee, on the date of approval by the Compensation Committee, which date shall not be more than sixty (60) days after the Execution Date (the “Grant Date”), the Employee shall be granted options to purchase seventy-one hundred nineteen (11971) shares of the Class A common stock, $0.01 par value per share, of Onex Rescare Holdings Corp., a Delaware corporation and the parent corporation of the Company (“Onex Rescare”). Such stock options (the “Primary Options’) shall be granted pursuant to and, to the extent not expressly inconsistent herewith, governed by the Onex Rescare Holdings Corp. Stock Option Plan (the “Stock Plan”) and the Nonstatutory Stock Option Agreement in the form attached hereto as Exhibit B. Provided the Employee shall continue to be employed hereunder, twenty percent (20%) of the Primary Options shall vest and be exercisable on each of the first five (5) anniversaries of the Grant Date (with such number of shares to be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like). Any Primary Options that shall not be vested at the effective date of termination of the Employee’s employment hereunder shall expire and any vested Primary Options shall expire in accordance with the terms of the Stock Plan. The Primary Options shall have an exercise price equal to $5,000 per share.

Appears in 1 contract

Samples: Employment Agreement (Res Care Inc /Ky/)

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