Initial Stock Option Grant definition

Initial Stock Option Grant shall have the meaning set forth in Section 4(c) hereof.
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Initial Stock Option Grant. Lee xxxll receive incentive and non-qualified options to purchase 125,000 shares of Common Stock of VaxGen at $9.50 per share (with as many shares allocated to an incentive stock option as is permissible under applicable laws). The Board has previously granted Lee 00,000 options on December 1, 1998. The stock options will be administered according to the VaxGen's Stock Option Plan and shall vest over time as indicated in the Stock Option Plan. The options shall accelerate in full immediately upon occurrence of any of the following events: (i) Change of Control (as defined below) of VaxGen, or (ii) termination of Lee'x xxxloyment without cause or by Lee xxx Good Reason (as defined below). Upon an occurrence of event described in (ii) above, the right to exercise all nonqualified stock options shall be extended to one year from the date of termination.
Sample 1

Examples of Initial Stock Option Grant in a sentence

  • The Initial Stock Option Grant will vest as to 1/3rd of the shares on each anniversary of the date of grant.• Each non-employee member of the Board continuing his or her service on the Board following the annual meeting of stockholders shall receive a restricted stock grant valued at $120,000 as of the date of grant (the ‘‘Annual Restricted Stock Grant’’).

  • Subject to Section 8(d)(vi) hereof, if either of the Initial Stock Option Grant or the Initial Restricted Stock Unit Grant is not expressly assumed in a Change in Control, such award will fully vest upon such Change in Control (and participate fully with other stockholders in such Change in Control).

  • The Compensation Committee, after taking into account the recommendations of the CEO, will (i) select the employees who will be Key Worldwide Managers, provided that no Eligible Executive will be selected as a Key Worldwide Managers and (ii) determine the number of shares of New Common Stock underlying each Key Worldwide Manager Initial Stock Option Grant.

  • If prior to the period ending on the Effective Date of the Initial Grant, the Company consummates a Change in Control while Executive remains continuously employed in good standing as SVP, and provided that Executive has not earned the right to receive the Initial Stock Option Grant under Section 3(f)i., the Company shall pay Executive a change in control bonus in the amount of $125,000 in a lump sum payment within 5 business days of such change.

  • Mass spectrometer measurements in the thermal areas of New Zealand.

  • Initial Stock Option Grant for New Non−Employee DirectorsUpon first joining the Board of Directors, non−employee directors are granted an initial stock option to acquire 30,000 shares of Common Stock under the Non−Employee Director Stock Plan.

  • For the avoidance of doubt, in the event of Executive’s termination as a result of death or Disability, the treatment of (x) the Initial Stock Option Grant shall be in accordance with the Award Agreement and 2020 Omnibus Equity Incentive Plan; and (y) any other equity-based award that may be granted to Executive shall be in accordance with the 2020 Omnibus Equity Incentive Plan (or any successor thereto) and any applicable award agreement.

  • Before deciding the level of resources (e.g., money, time, and technology) required for protection, it is essential that you know what information needs to be protected and the level of protection that is required.

  • The Initial Stock Option Grant and Initial Restricted Stock Unit Grant will be granted under a non-stockholder approved arrangement outside of any Company equity plan pursuant to the Nasdaq’s “inducement exception.” Executive agrees that the granting of the Initial Stock Option Grant and Initial Restricted Stock Unit Grant is an inducement material to Executive’s decision to enter into this Agreement and accept employment with the Company.

  • To the extent not already vested, the Initial Stock Option Grant and the Initial Restricted Stock Unit Grant will fully vest upon a Change in Control (and participate fully with other stockholders in such Change in Control) if Executive is providing services in any capacity (including, but not limited to, service as a member of the Board) to the Company on the date of such Change in Control.

Related to Initial Stock Option Grant

  • Parent Stock Option means any option to purchase Parent Common Stock granted under any Parent Stock Plan.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Stock Option Agreement means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to the Optionee’s Option.

  • Company Stock Option means any option to purchase Company Common Stock granted under any Company Stock Plan.

  • Nonstatutory Stock Option means an Option not intended to qualify as an Incentive Stock Option.

  • Stock Options means the collective reference to "Incentive Stock Options" and "Other Stock Options".

  • Company Stock Options shall have the meaning given to such term in Section 3.3(a) hereof.

  • Company Stock Option Plan means each stock option plan, stock award plan, stock appreciation right plan, phantom stock plan, stock option, other equity or equity-based compensation plan, equity or other equity based award to any employee, whether payable in cash, shares or otherwise (to the extent not issued pursuant to any of the foregoing plans), or other plan or contract of any nature with any employee pursuant to which any stock, option, warrant or other right to purchase or acquire capital stock of the Company or right to payment based on the value of Company capital stock has been granted or otherwise issued.

  • Notice of Stock Option Grant means the document so entitled to which this Agreement is attached.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Stock Option Plans means any stock option plan now or hereafter adopted by the Partnership or the General Partner.

  • Stock Option Plan means any stock option plan now or hereafter adopted by the Company or by the Corporation, including the Corporate Incentive Award Plan.

  • Company Stock Option Plans has the meaning ascribed to it in Section 2.6(c).

  • Nonqualified Stock Option means an Option that is not an Incentive Stock Option.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Date of Option Grant means ____________, 199_.

  • Incentive Stock Options means Option Rights that are intended to qualify as “incentive stock options” under Section 422 of the Code or any successor provision.

  • Restricted Stock Purchase Right means a right to purchase Stock granted to a Participant pursuant to Section 8.

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Non-Statutory Stock Option means a right to purchase Common Stock granted to an Eligible Recipient pursuant to Section 6 of the Plan that does not qualify as an Incentive Stock Option.

  • Director Option means an Option granted pursuant to Section 6.

  • Restricted Stock Award Agreement means a written agreement between the Company and a holder of a Restricted Stock Award evidencing the terms and conditions of a Restricted Stock Award grant. Each Restricted Stock Award Agreement will be subject to the terms and conditions of the Plan.

  • Incentive Stock Option means an Option intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder.

  • Nonqualified Option means any Option that is not an Incentive Stock Option.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Stock Grant Agreement means the agreement between the Company and a Grantee who is awarded Shares under the Plan that contains the terms, conditions and restrictions pertaining to the award of such Shares.