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

  • 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).

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  • 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.

  • 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.

  • 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’’).

  • 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.

  • The terms of the Initial Stock Option Grant shall be subject to the terms of the final stock option award agreement evidencing the Initial Stock Option Grant, a form of which shall be attached hereto as Appendix B (the “Stock Option Agreement”).

  • For purposes of clarity, the stock option agreement(s) for your Initial Stock Option Grant and the stock option or other equity agreements for any subsequent equity awards will reflect the terms described in Sections 10(b) and 10(c) of this offer letter.

  • Initial Stock Option Grant for Newly Appointed or Elected ChairpersonEach new Non-Employee Director who shall serve as Chairperson of the Board of Directors shall be granted a non-qualified stock option to purchase 100,000 shares of the Company’s common stock under the Stock Plan at the first regularly scheduled meeting of the Board of Directors on or after his or her initial appointment as Chairperson of the Board of Directors.

  • The Initial Stock Option Grant will vest over a four year period with 25% of the award vesting on the first anniversary of the grant date and then an additional 6.25% of the award vesting at the end of each three-month period thereafter until the fourth anniversary of the grant date, when the Initial Stock Option Grant will be fully vested, subject to the Executive continuing to be an eligible Participant (as defined in the 2018 Plan) on each vesting date.

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.

  • Non-Incentive Stock Option or "Non-ISO" shall mean an option to purchase Shares granted pursuant to Section 9 hereof, which option is not intended to qualify under Section 422 of the Code.

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

  • Company Stock Options has the meaning set forth in Section 3.1(g).

  • Company Stock Option Plan means any equity incentive, stock option, stock bonus, stock award or stock purchase plan, program or arrangement, as amended to date, of the Company or any Company Subsidiary, or any predecessor of any of the foregoing, including the Company's 2003 Omnibus Stock Option Plan and 2000 Omnibus Stock Option Plan.

  • 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 Agreements shall have the meaning set forth in the fourth “whereas” paragraph.

  • 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 assigned to such term in Section 3.1(e).

  • 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 __________________.

  • 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.

  • Option Award means an Award of an Option pursuant to Section 10 hereof.

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

  • Nonqualified Stock Options means Stock options that do not meet 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 a Nonstatutory Stock Option granted to each Eligible Director pursuant to Section 6.7 without any action by the Board or the Committee.

  • 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.