Third Option. Contemporaneously with the delivery of the Option IND Package for the third Option Target, Surface will provide an Option Selection Notice to Novartis indicating whether the Option for the third Option Target will be a Regional Option or a Global Option. Notwithstanding the foregoing, if Novartis provided a Novartis Deferral Notice in accordance with Section 4.2.3.2, then contemporaneously with the delivery of the Option Exercise Notice for the third Option Target, Novartis will provide an Option Selection Notice to Surface indicating whether the Option for the third Option Target will be a Regional Option or a Global Option or whether Novartis will terminate its rights to such Option Target in accordance with Section 4.1.2.
Third Option. Following the Closing Date, and subject to the approval of the Board, the Committee or the Delegate, as applicable, and subject to the achievement of certain Company performance milestones established by, and in the sole discretion of, the Board, the Committee or the Delegate, as applicable, Executive shall be eligible to receive a stock option grant with a grant date fair value of $3,000,000 (the “Third Option”). The exercise price per share will be equal to the fair market value per share on the date the Third Option is granted, as determined by the Board in good faith. There is no guarantee that the Internal Revenue Service will agree with this value. Executive should consult with Executive’s own tax advisor concerning the tax risks associated with accepting an option to purchase a share of the Company’s common stock. The term of the Third Option shall be ten (10) years, subject to earlier expiration in the event of the termination of Executive’s services to the Company. Subject to any vesting acceleration rights Executive may have, the Third Option will vest on a monthly basis over a 4-year period, subject to Executive continuing to provide services to the Company through each vesting date. The Third Option will be subject to the terms, definitions and provisions of the Equity Plan and the stock option agreement by and between Executive and the Company evidencing the grant of the Third Option, which Executive will be required to sign, both of which documents are incorporated herein by reference.
Third Option. One (1) – five (5) year term commencing April 1, 2012 and ending March 31, 2017; and, iv)
Third Option. In addition to the IPO Award, the First Option and Second Option above, the Company shall grant to the Executive, under the Company's Incentive Stock Plan and the Option Grant, attached hereto as Exhibit "C" and incorporated herein, an option (the "Third Option") to purchase up to 25,000 shares of the Company's voting common stock at an exercise price equal to the price per share to the public set forth on the cover of the prospectus relating to the IPO. The Third Option shall terminate on the tenth anniversary of the grant of the Third Option, subject to earlier termination as may be set forth in this Agreement, the Incentive Stock Plan or the Option Grant. The Third Option is in addition to any other option award or grant which may be made to the Executive during his employment.
Third Option. The Company shall grant to the Employee an incentive stock option (to the extent allowable) to purchase a total of 175,000 shares of the Company’s Common Stock (the “Third Option”). The exercise price of the Third Option shall equal the fair market value of a share as of the date of grant. Subject to the Employee’s continued employment with the Company, the Third Option shall vest and become exercisable as to 1/7 of the shares subject to the Third Option on the first annual anniversary of the Effective Date, and an additional 1/84th of the shares subject to the Third Option shall vest and become exercisable on each subsequent monthly anniversary of the Effective Date. Notwithstanding the foregoing (x) all of the then unvested portion of the Third Option shall become vested and exercisable immediately upon the earlier to occur of the following events, so long as such event occurs within two years of the Effective Date: (i) such time as the closing sales price of the Company’s Common Stock on the Nasdaq National Market (or such other established stock exchange or national market system on which the Company’s Common Stock is listed) exceeds $14.00 per share for 30 consecutive trading days or (ii) the consummation of a Change of Control pursuant to which the holders of the Company’s Common Stock receive consideration having a fair market value (as determined by the Board) of not less than $14.00 per share and (y) a portion of the then unvested portion of the Third Option shall become vested and exercisable upon the occurrence of certain events as provided in Section 6(b) below. The form of stock option agreement pertaining to the Third Option is attached hereto as Exhibit C.
Third Option. The Company has granted the Employee a third option (the "Third Option") to purchase 480,000 shares of Common Stock of the Company. Except as otherwise provided herein, the Third Option was granted pursuant to, and shall be governed by, the Company's 1994 Stock Plan. The Third Option shall vest and become exercisable as to 1/4 of the shares subject thereto on the date one year after the date hereof, and as to 1/16 of the shares subject thereto at the end of each three (3) month period following the date hereof, so that the Third Option shall be fully vested and exercisable on the fourth anniversary of Dr. Xxxxxxx'x xxxloyment commencement; provided, however, that on such dates the Employee remains employed by the Company.
Third Option exercisable for an additional [ ] shares beginning on [ ] and terminating on [ ].
Third Option. As specified in the Governance Agreement, if the ------------ Purchaser pays the Second Option Payment and exercises its Third Option during the Second Option Period, the Supply Agreement and the Research and Development Collaboration Agreement shall become activated, and the obligations of the parties as of and following the Activation Date under this Agreement shall become irrevocable.
Third Option. For a five (5) year term, commencing July 1, 2014 and ending June 30, 2019, at the following rental per month: July 1, 2014 through December 15, 2014 $ 0.00 December 16, 2014 through December 31, 2014 $4,597.50 January 1, 2015 through June 30, 2019 $9,195.00 In consideration of Tenant exercising the Third Option, Landlord will give Tenant five and one half (5 ½) months of rent abatement beginning July 1, 2014 through December 15, 2014, as noted above. Tenant shall, at its expense, paint the interior walls of the Premises, and install new carpet tiles in the Premises using Tandus Flooring; Aftermath II - 03026; color: Russet 23507. Upon the signing of this Amendment, Tenant is exercising the Third Option.
Third Option. The Selling Shareholder hereby grants Pubco the sole and exclusive right and option to purchase 300 Priveco Shares from the Selling Shareholder in consideration for the allotment and issuance of 6,000,000 Pubco Shares and 6,000,000 Pubco Warrants to the Selling Shareholder or at the Selling Shareholder’s direction (the “Third Option”). The First Option shall be exercisable by Pubco for a period of three (3) years beginning on January 1, 2023.
