Stock Option Award. Within the 60-day period following the Start Date, Executive will receive an award of stock options to purchase Common Stock (the “Options”). The terms and conditions of the Options will be governed by Parent’s 2010 Equity Incentive Plan and the Stock Option Agreement in substantially the form attached hereto as Exhibit A. The number of shares covered by such Options shall equal 8,500. The Options shall have a per share exercise price equal to the fair market value per share of such Option on the date of grant, as determined by the Board.
Stock Option Award. The Company shall grant to the Executive a non-qualified stock option (the “Option”) representing the right to purchase forty thousand (40,000) shares of common stock, par value $0.01 per share, of the Company (“Company Common Stock”). The Option shall be exercisable at a per share exercise price equal to the fair market value of a share of Company Common Stock as of the Effective Date, as determined by the Board or the Compensation Committee. The Option shall vest and become exercisable, on a cumulative basis, at the rate of one-third (1/3) of the number of shares of Company Common Stock subject to the Option on each of the Effective Date and the first and second anniversaries of the Effective Date, subject to the continued employment of the Executive by the Company. The Option shall expire ten (10) years after the grant of the Option and shall terminate earlier in the event of the termination of the Executive’s employment with the Company. The Option shall be transferable by the Executive to certain of the Executive’s family members, or a trust for such family members, subject to the terms and conditions of the Company’s stock incentive plan. The Option shall be subject to the terms and conditions of the Company’s stock incentive plan, the applicable option agreement and this Agreement.
Stock Option Award. On the Effective Date, the Company shall grant to the Executive a non-qualified option to purchase 300,000 shares of the Company’s common stock (the “Stock Option”) under the Morgans Hotel Group Co. Amended and Restated 2007 Omnibus Incentive Plan (the “Incentive Plan”). Except as otherwise provided in Section 4 upon certain events of termination, subject to the Executive’s continued employment with the Company, the Stock Option shall vest and become exercisable with respect to 33-1/3% of the shares subject thereto on each of the first, second, and third anniversaries of the Effective Date. Consistent with the foregoing, the terms and conditions of the Stock Option shall be set forth in an award agreement (the “Stock Option Agreement”) in the form attached as Exhibit A hereto, to be entered into by the Company and the Executive concurrently herewith and which shall evidence the grant of the Stock Option. The Company shall determine whether future awards will be awarded to the Executive in its sole good faith discretion.
Stock Option Award. In the event of Employee’s involuntary Termination of Employment without Cause or Termination of Employment due to a resignation by Employee for Good Reason that, in either case, occurs on or before the second anniversary of a Change in Control, the Stock Option Award shall become exercisable immediately (whether or not previously exercisable) and shall remain exercisable for the three year period following such Termination of Employment. For this purpose, “Good Reason” has the same meaning determined by Employee’s written employment agreement in effect on the Grant Date. In the event there is no such agreement or definition, then Good Reason means the initial existence of one or more of the following conditions, arising without the consent of the Employee: (1) a material diminution in Employee’s base compensation; (2) a material diminution in Employee’s authority, duties, or responsibilities, so as to effectively cause Employee to no longer be performing the duties of his position; (3) a material diminution in the authority, duties, or responsibilities of the supervisor to whom Employee is required to report.
Stock Option Award. Subject to the terms and conditions contained herein and in the Agreement, the Company hereby grants to the Executive an award of [ ] Stock Options, at an exercise price of $[ ] (the “Exercise Price”). The Stock Options are not intended to qualify as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended. Each such Stock Option shall entitle Executive to purchase, upon payment of the Exercise Price, one share of Common Stock. Capitalized terms used, but not otherwise defined, shall have the meaning set forth in the Agreement.
Stock Option Award. A. The Corporation will grant to Executive an option to purchase 50,000 shares of the Corporation's common stock (the "Award") at a price per share equal to the fair market value of the Corporation's common stock on the date of acceptance of the employment offer by Executive, which so long as Executive remains in the continuous employ of the Corporation on a given vesting date, shall vest in Executive in accordance with the following schedule: (i) one-fourth of the Award shall vest on the Effective date, and (ii) one-fourth of the Award shall vest on the date one (1) year from the Effective Date, and (iii) the remaining one-half of the Award shall vest in increments of one-twenty fourth per month for the twenty-four (24) months then following.
Stock Option Award. As of the Effective Date, the Compensation Committee will grant to the Employee an option for 35,000 shares of Company Common Stock at an exercise price equal to the closing price of the Company's Common Stock on the New York Stock Exchange on the business day immediately preceding the Effective Date. The shares subject to the option will become vested and exercisable at a rate of thirty-three and 1/3 percent (331/3%) per year on each anniversary date of the date of grant, if the Employee remains employed by the Company on each such anniversary date. The terms and conditions of the stock option program and the stock option grant will be more fully set forth in any Stock Option Agreements and stock grant certificates adopted and delivered respectively.
Stock Option Award. Subject to approval by the Board, the Company will grant to you a stock option to purchase up to 500,000 shares (the “Shares”) of the Company’s Common Stock (subject to adjustment for stock splits, combinations, or other recapitalizations). The option shall be an incentive stock option. Subject to your continued employment with the Company, the option will vest (i.e., become exercisable) over a period of four years with 1/4th of the shares vesting on the first anniversary of your date of hire and 1/48th of the shares at the end of each monthly period thereafter; provided, however, upon the closing of a Sale Event (as defined below), all of the then unvested Shares shall become fully vested and exercisable. The option will also be subject to the terms of the Company’s 2012 Stock Incentive Plan, as amended (the “Plan”), and the stock option agreement covering the option, which must be executed to effect the grant of any option. You may be eligible for additional stock option awards on an annual basis at the sole discretion of the Board.
Stock Option Award. (a) As soon as reasonably practicable following the Effective Date, the Company shall recommend to the Board that it grant to Executive, under the Oncorus, Inc. 2016 Equity Incentive Plan, as the same may be amended from time to time (the “Plan”) and his Oncorus, Inc. 2016 Equity Incentive Plan Option Agreement (the “Option Agreement”), an option to purchase 1,038,834 shares of the Company’s common stock (the “New Option”) having an exercise price per share equal to fair market value of the Company’s common stock on the date of grant, as determined by the Board in its sole discretion. The New Option shall be an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”) to the maximum extent permitted by applicable law. Of the New Option (i) 16.66% of the shares subject to the New Option shall vest upon the first closing of the Company’s Series B financing (“Series B Financing”), (ii) 33.33% of the shares subject to the New Option shall vest in twenty-four (24) equal monthly installments beginning with the first month following the closing of the Company’s Series B financing (“Series B Time-Based Option”), (iii) 25.00% of the shares subject to the New Option shall vest on the date immediately prior to an underwritten initial public offering of the Company’s equity securities (the “IPO”) and (iv) 25.00% of the shares subject to the New Option shall vest in twenty-four (24) equal monthly installments beginning with the first month following the IPO (“IPO Time-Based Option”), in the case of each of (i)–(iv) above, subject to Executive’s Continuous Service (as defined in the Plan) to the Company through each applicable vesting date. For purposes of clarity, to the extent that any such shares subject to the New Option would have vested pursuant to the vesting schedule described above, such shares shall be vested and exercisable as of the applicable date of grant. Notwithstanding the foregoing, if the Company’ undergoes a Change in Control (as defined in the Plan), the Executive remains in Continuous Service with the Company through such date, and provided that the Executive signs, returns and allows to become effective the Release as set forth in Section 11, then the unvested portion of the New Option that would have vested pursuant to subclause (i) and (ii) of the immediately preceding sentence shall become 100% vested immediately prior to the Change in Control. Further, if the Executive’s Continuous...