Stock Option Grant Subject to approval by the Board (or a committee thereof), the Company will grant the Executive a stock option (the “Option”) to purchase shares determined by the Board of Directors of the Company’s common stock at a price per share not less than the per-share fair market value of the common stock on the date of grant, as reasonably determined by the Board (or a committee thereof). The Option will vest with respect to twenty- five percent (25%) of the shares subject to the Option on the first anniversary of the grant date of the Option. The remaining seventy-five percent (75%) of the shares subject to the Option will vest in 24 months substantially equal monthly installments thereafter. In each case, the vesting of the Option is subject to the Executive’s continued employment by the Company through the respective vesting date. The maximum term of the Option will be ten (10) years, subject to earlier termination upon the termination of the Executive’s employment with the Company, a change in control of the Company and similar events. The Option shall be intended as an “incentive stock option” under Section 422 of the Internal Revenue Code, as amended (the “Code”), subject to the terms and conditions of Section 422 of the Code (including, without limitation, the Code limitation on the number of options that may become exercisable in any given year and still qualify as such an incentive stock option). The Option shall be granted under the Company’s Performance Incentive Plan and shall be subject to such further terms and conditions as set forth in the Company’s standard form of award agreement for stock options granted under the plan.
Stock Option Grants Subject to this Section 3.4, on the Effective Date the Company will grant to the Executive a nonqualified stock option (the “Option”) to purchase 250,000 shares of the Company’s common stock, no par value (the “Common Stock”). The exercise price per share of the Option will be equal to the fair market value of a share of the Common Stock on the Effective Date. The Board (or Compensation Committee thereof) will determine such fair market value in its reasonable, good faith discretion (it being intended that, if the Common Stock is then not publicly traded other than on the over-the-counter market, such fair market value shall be based on the last sales price for a share of Common Stock as quoted on the Pink Sheets unless such methodology does not, in the Board’s reasonable, good faith discretion, produce an accurate fair market value in the circumstances). The Option will vest in substantially equal annual installments (equal installments except that the installments will be rounded to produce vesting installments of whole share increments) over the three-year period following the Effective Date. Except as otherwise provided herein or in the Option Agreement referenced below, in each case, the vesting of each installment of the Option is subject to the Executive’s continued employment by the Company through the respective vesting date. The maximum term of the Option will be ten (10) years from the date of grant of the Option, subject to earlier termination upon the termination of the Executive’s employment with the Company, a change in control of the Company and similar events. The Option shall be subject to such further terms and conditions as set forth in a written stock option agreement to be entered into by the Company and the Executive to evidence the Option (the “Option Agreement”). The Option Agreement shall be in substantially the form attached hereto as Exhibit C. Executive shall also be eligible to participate in and receive additional grants commensurate with his position and level in any stock option plan and restricted stock plan or other equity-based or equity related compensation plan, programs or agreements of the Company made available generally to its senior executives; provided that the amount, timing, and other terms of any future grant shall be determined by the Board (or the Compensation Committee thereof) in its sole discretion.
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 Subject to approval by the Board of Directors of the Company, the Company will grant to the Executive Chairman, pursuant to the Company’s 2015 Stock Incentive Plan, as amended (the “Plan”), an option to purchase 550,000 shares (the “Shares”) of the Company’s common stock at a per share exercise price equal to the fair market value of the Company’s common stock on the date of grant (the “Option”). Subject to the terms and conditions of the Plan and the Company’s standard form of stock option agreement in the form attached hereto as Exhibit C, assuming the Executive Chairman’s continued service to the Company hereunder as of each vesting date, the Shares underlying the Option shall vest and become exercisable over a three year period as follows: (i) 34% of the original number of Shares (187,000) will vest on the first anniversary of the Effective Date; and (ii) an additional 2.75% of the original number of Shares (15,125) will vest on the 29th day of each subsequent month following the first anniversary of the Effective Date for the next twenty-four (24) successive months such that all the Shares underlying the Option will be fully vested on the third anniversary of the Effective Date; provided that any unvested Shares will vest in full immediately prior to the closing of a Sale (as defined in the option agreement). The Executive Chairman shall be eligible for additional option grants as determined in the sole discretion of the Board.
Option Granted In consideration of the payment of RMB10 by Party A, the receipt and adequacy of which is hereby acknowledged by Party B, Party B hereby irrevocably grants Party A an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in Party C then held by Party B once or at multiple times at any time in part or in whole at Party A’s sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Except for Party A and the Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of Party B. Party C hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The term “person” as used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations.
Stock Option Awards As of the Effective Date of this agreement, Employee shall receive an option to purchase 400,000 shares of the Company’s common stock; par value $0.01 per share (the “Common Stock”) at an exercise price equal to $0.75 per share; the other terms and conditions of such award shall be governed by the terms of a stock option award agreement which will be drafted by the Company. On the first business day of each of the Company's 2007, and 2008 fiscal years (in each case so long as the Termination Date has not occurred), the Company shall award Employee an additional option to acquire 100,000 shares of Company Common Stock at an exercise price equal to the market price of Company Common Stock on the date of the grant; the other terms and conditions of such awards shall be governed by the terms of a stock option award agreement in a form substantially similar to that then used by the Company. The options awarded pursuant to this Section 2.3 shall be for a term of ten (10) years and shall vest in one-half increments beginning on the first anniversary of the date of the award and annually thereafter until fully vested. The vesting of the Employment Option shall accelerate upon a change in control of the Company as defined in Rule 405 of the Securities Act of 1933 or upon sale of substantially all of the assets of the Company or the merger out of existence of the Company provided that Employee is still in the employ of the Company or has not been terminated in contemplation of such transaction.
Stock Options With respect to the stock options (the “Stock Options”) granted pursuant to the stock-based compensation plans of the Company and its subsidiaries (the “Company Stock Plans”), (i) each Stock Option intended to qualify as an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”) so qualifies, (ii) each grant of a Stock Option was duly authorized no later than the date on which the grant of such Stock Option was by its terms to be effective (the “Grant Date”) by all necessary corporate action, including, as applicable, approval by the board of directors of the Company (or a duly constituted and authorized committee thereof) and any required stockholder approval by the necessary number of votes or written consents, and the award agreement governing such grant (if any) was duly executed and delivered by each party thereto, (iii) each such grant was made in accordance with the terms of the Company Stock Plans, the Exchange Act and all other applicable laws and regulatory rules or requirements and (iv) each such grant was properly accounted for in accordance with GAAP in the financial statements (including the related notes) of the Company and disclosed in the Company’s filings with the Commission in accordance with the Exchange Act and all other applicable laws. The Company has not knowingly granted, and there is no and has been no policy or practice of the Company of granting, Stock Options prior to, or otherwise coordinating the grant of Stock Options with, the release or other public announcement of material information regarding the Company or its subsidiaries or their results of operations or prospects.
NOTICE OF STOCK OPTION GRANT Name: Address: The undersigned Participant has been granted an Option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Option Agreement, as follows: Date of Grant: Vesting Commencement Date: Exercise Price per Share: $ Total Number of Shares Granted: Total Exercise Price: $ Type of Option: Incentive Stock Option Term/Expiration Date: Vesting Schedule: This Option shall be exercisable, in whole or in part, according to the following vesting schedule: [Twenty-five percent (25%) of the Shares subject to the Option shall vest on the one (1) year anniversary of the Vesting Commencement Date, and one forty-eighth (1/48th) of the Shares subject to the Option shall vest each month thereafter on the same day of the month as the Vesting Commencement Date (and if there is no corresponding day, on the last day of the month), subject to Participant continuing to be a Service Provider through each such date.]
Stock Option Plan This Option is subject to, and the Company and the Grantee agree to be bound by, all of the terms and conditions of the Plan, as the same shall have been amended from time to time in accordance with the terms thereof, provided that no such amendment shall deprive the Grantee, without her consent, of this Option or any of her rights hereunder. Pursuant to the Plan, the Committee is vested with final authority to interpret and construe the Plan and this Option, and is authorized to adopt rules and regulations for carrying out the Plan. A copy of the Plan in its present form is available for inspection during business hours by the Grantee or other persons entitled to exercise this Option at the Company’s principal office. The Plan, as amended from time to time, is hereby incorporated by reference.
Nonstatutory Stock Option If the Grant Notice so designates, this Option is intended to be a Nonstatutory Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code.