Prior Grant Sample Clauses
Prior Grant. The Company and the Executive acknowledge and agree that, (i) in connection with the execution and delivery of the Original Agreement, Flamel granted to the Executive an option (the “Original Stock Option”) to purchase One Hundred Thousand (100,000) American Depositary Shares (ADSs), with each such ADS representing one (1) of Flamel’s ordinary shares, at an exercise price equal to the fair market value of the Flamel ADSs as of the date of grant of the Original Stock Option; (ii) the board of directors of Flamel approved the grant of the Original Stock Option; and (iii) pursuant to the Merger, Avadel adopted and assumed such Original Stock Option and, as a result, upon and after the Merger, the Original Stock Option became and is exercisable for an equal number of the ADSs of Avadel plc. The terms and conditions of the Original Stock Option (including the vesting provisions thereof) shall continue in effect as adopted and assumed by Avadel plc without modification by this Agreement.
Prior Grant. The Company and the Executive acknowledge and agree that, (i) in connection with the execution and delivery of the Original Agreement, Avadel plc granted to the Executive an option (the “Original Stock Option”) to purchase One Hundred Fifty Thousand (150,000) American Depositary Shares (ADSs), with each such ADS representing one (1) of Avadel plc’s ordinary shares, at an exercise price equal to the fair market value of the Avadel plc ADSs as of the date of grant of the Original Stock Option; and (ii) the board of directors of Avadel approved the grant of the Original Stock Option. The terms and conditions of the Original Stock Option (including the vesting provisions thereof) shall continue in effect without modification by this Agreement.
Prior Grant. Executive was previously granted options to purchase 50,000 shares of ISO Class A Common Stock in 2005, of which 10,000 shares were an acceleration of an option grant that otherwise would have been made in 2008 and 10,000 shares were an acceleration of an option grant that otherwise would have been made in 2009. These shares were awarded pursuant to the terms of the Stock Option Agreement for ▇▇▇▇▇ ▇. ▇▇▇▇▇, as amended effective March 1, 2006 (the “▇▇▇▇▇ ▇▇▇▇▇ Agreement”). Those options shall remain in effect subject to Executive’s continuing employment with ISO and shall vest and become exercisable in accordance with the terms of the ▇▇▇▇▇ ▇▇▇▇▇ Agreement.