CEO Option definition
Examples of CEO Option in a sentence
The CEO Option shall vest subject to your continued employment by the Company through the applicable vesting dates described above, and subject to the terms of this Agreement.
Except as provided herein, the CEO Option and the Performance Option will be subject to the terms and conditions of the Stock Plan and the Company’s standard form of stock option agreement.
Notwithstanding anything to the contrary set forth herein or therein, no portion of the CEO Option shall vest in the event you are not first promoted to the position of the Company’s President and CEO, and no portion of the Performance Option shall vest in the event the relevant performance conditions specified above are not satisfied.
As provided in the Company’s 2002 Stock Option Plan, if within two years following a Change of Control (as defined in the 2002 Stock Option Plan), the Executive is removed as the Company’s Chief Executive Officer for any reason other than for Cause (as defined in the 2002 Stock Option Plan), all of the Executive’s CEO Option unvested shares will vest in full.
The CEO Option shall vest in equal monthly installments commencing on the 1st of the month following your promotion to the position of the Company’s President and CEO and continuing thereafter for 47 months until the CEO Option is fully vested.
Except as modified by the terms of this Agreement, the terms and conditions set forth in the 2002 Stock Option Plan and applicable stock option agreement shall govern the CEO Option award.
Prior to the Effective Time, the Company shall take all commercially reasonable actions necessary or appropriate to ensure that, as of the Effective Time, the Company Option Plans shall terminate (other than any Company Option Plan under which the CEO Option, the Executive Options, if any, or any Company Stock Option that remains outstanding following the Closing in accordance with this Agreement, was issued).
The exercise price per share of the CEO Option shares will be the closing price of the Company’s ADSs on the NASDAQ Capital Market on Thursday, November 11, 2010.
The CEO Award Agreement shall provide that the option shares subject to the CEO Option Grant shall vest in equal quarterly installments while Employee serves as CEO hereunder over a period of three years, which vesting shall commence on the Effective Date.
Twenty five percent (25%) of the CEO Option Award shall be vested on December 31, 2020 (the “Initial Vesting Date”), with the remaining seventy-five percent (75%) vesting in equal twenty percent (25%) annual installments over a three-year period beginning on the first anniversary of the Initial Vesting Date, subject to the Executive’s continued employment with the Company through to such vesting date.