The Initial Option. (i) Shall have an exercise price equal to Fifty-Eight Cents ($0.58) per share; and (ii) Shall become fully vested and exercisable as to 33 1/3% of the number of shares of Common Stock immediately upon the execution of this Agreement, and again upon each of the first two Anniversary Dates, if Executive remains employed by the Company as of such date, provided that the Initial Option shall immediately become fully vested and exercisable upon a Termination of Employment by reason of the death or Disability of Executive, a Termination Without Cause, a Termination for Good Reason, or a Change of Control.
Appears in 2 contracts
Sources: Employment Agreement (Carnegie International Corp), Employment Agreement (Carnegie International Corp)