Terms of Stock Options. (a) Odzer hereby agrees that he shall grant Stock Options to purchase all of the Shares upon the direction of, and to those executives and officers of the Company designated by, the Committee in accordance with the terms and subject to the conditions of this Agreement.
Terms of Stock Options. Subject to Section 3 hereof, the terms of Incentive Stock Options granted this Plan shall be as follows:
Terms of Stock Options. Executive will be issued a Stock Option Agreement pursuant to which Executive will receive Stock Options as of August 22, 2007, which Stock Option Agreement will be consistent with the terms and conditions set forth in this Appendix 1. The aggregate number of shares of common stock for which the Stock Options granted thereunder is exercisable is 800,000. · The exercise price of the shares of common stock of the Company covered by the Stock Option Agreement, subject to adjustment as described immediately below, shall be the fair market value on August 22, 2007. · In the event that the outstanding shares of stock subject to a Stock Option Agreement are, from time to time, changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, recapitalization event, reclassification, stock split, stock dividend, combination of shares, or otherwise, the Company’s stock option plan administrator shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration as to which the Executive’s Stock Option, or portions thereof then unexercised, shall be exercisable and the exercise price therefore. · The Stock Options shall vest and become exercisable as to 240,000 shares on August 27, 2007, and as to the remaining 560,000 shares in equal one-third (33 1/3%) increments on the first, second and third anniversaries of the first day of the Term. All of the Stock Options will accelerate and immediately become 100% vested in the event of: (i) any Change of Control (as defined in Section 9 of the Agreement) or (ii) termination of Executive’s employment by the Company without Cause or by the Executive for Good Reason.
Terms of Stock Options. The Committee shall determine the terms and conditions of each Stock Option, the number of shares subject to the Stock Option, and whether the Stock Option is an Incentive Stock Option or a Non-statutory Stock Option. The option price for each Stock Option shall be determined by the Committee but shall not be less than 100% of the Fair Market Value of the Company’s common stock on the date the Stock Option is granted. Notwithstanding the foregoing, a Stock Option may be granted with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Code Section 424(a).
Terms of Stock Options a) Each Option granted under the Plan will expire seven years after the date of grant.
Terms of Stock Options. The Executive will be issued a Stock Option Agreement pursuant to which Executive will receive Stock Options as of the Effective Date which Stock Option Agreement will be consistent with the terms and conditions set forth in this Annex A. The aggregate number of shares of common stock for which the Stock Options granted thereunder is exercisable is 100,000. To the extent possible, the Stock Options shall be classified incentive stock options. In addition, upon a recommendation from the Chief Executive Officer made in his sole discretion, the Compensation Committee of the Board of Directors may consider whether Executive shall be eligible to receive an annual Stock Option grant of 5,000 shares of common stock. • The Stock Options shall vest and become exercisable in equal one-third (33.3%) increments on the first, second, and third anniversaries of the Effective Date provided that the Executive is then employed by the Company. At any time when the Executive is employed by the Company, all of the Stock Options will accelerate and immediately become 100% vested in the event of termination of Executive’s employment without Cause or by the Executive for Good Reason. • The exercise price of the shares of common stock of the Company covered by the Stock Option Agreement, subject to adjustment as described immediately below, shall be $18.00 per share for the fraction vesting on the first anniversary, $23.00 per share for the first half of fraction vesting on the second anniversary, $28.00 per share for the second half of fraction vesting on the second anniversary, $35.50 per share for the first half of fraction vesting on the third anniversary, and $43.00 per share for the second half of fraction vesting on the third anniversary. • In the event that the outstanding shares of stock subject to a Stock Option Agreement are, from time to time, changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, recapitalization event, reclassification, stock split, stock dividend, combination of shares, or otherwise, the Company’s stock option plan administrator shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration as to which the Executive’s Stock Option, or portions thereof then unexercised, shall be exercisable and the exercise price therefore.
Terms of Stock Options. Executive will be issued a Stock Option Agreement pursuant to which Executive will receive Stock Options as of December 7, 2007, which Stock Option Agreement will be consistent with the terms and conditions set forth in this Appendix 1. The aggregate number of shares of common stock for which the Stock Options are granted hereunder is 25,000. · The exercise price of the shares of common stock of the Company covered by the Stock Option Agreement, subject to adjustment as described immediately below, shall be the fair market value on December 6, 2007. · In the event that the outstanding shares of stock subject to a Stock Option Agreement are, from time to time, changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, recapitalization event, reclassification, stock split, stock dividend, combination of shares, or otherwise, the Company’s stock option plan administrator shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration as to which the Executive’s Stock Option, or portions thereof then unexercised, shall be exercisable and the exercise price therefore. · The Stock Options shall vest and become exercisable in equal one-third (33 1/3%) increments on the first, second and third anniversaries of the first day of the Term. All of the Stock Options will accelerate and immediately become 100% vested in the event of: (i) any Change of Control (as defined in Section 9 of the Agreement) or (ii) termination of Executive’s employment by the Company without Cause or by the Executive for Good Reason.
Terms of Stock Options. The Options will be nonqualified stock options, will be fully vested at the time of receipt, and will have a ten-year term except as follows: (a) in the case of termination due to death, Disability, Retirement at or after age 65, or involuntary termination by the Company (other than for Cause), the Options will remain exercisable until seven years after the date of grant, or one year after the date of termination, whichever is later; (b) in the case of voluntary termination, the Options will remain exercisable until 90 days after the date of termination; and (c) in the case of involuntary termination for "Cause", the Options will expire on the date of termination. The Options will generally have such other terms and conditions as the nonqualified Options granted by the Company in fiscal 2000. -------------------------------------------------------------------------------- ELECTION _____ YES, I elect to amend my Agreement to provide for the exchange of my Award, to the fullest extent possible, for the grant of Options to acquire NSI stock, under the terms set forth above, to the following extent: [ ] In exchange for $__________ of my Award (minimum $1,000). [ ] In exchange for _________% of my Award (minimum $1,000). [ ] In exchange for the grant of_________ Options (minimum 100 options). The portion of the Award elected above (whether measured in dollars, percentage, or Options) will be surrendered from the total value of the Award at the Determination Date. The calculation of Options granted in the exchange will be rounded down to the next whole amount. _____ NO, I elect to continue to receive the entire Award payment half in NSI stock and half in cash. In order to make this election effective, sign and date this form below and return it to Hxxxx Xxxxxx prior to November 23, 1999. The undersigned hereby agrees to amend the Aspiration Achievement Incentive Award Agreement in accordance with the above election. --------------------------- Grantee --------------------------- Date Received and Award Agreement Amendment approved on behalf of National Service Industries, Inc.: By:/s/ Hxxxx X. Xxxxxx Hxxxx X. Xxxxxx --------------------------------------- Date
Terms of Stock Options. (a) Each Option will be valued for purposes of the surrender and exchange at a percentage, as provided below, of the Fair Market Value of NSI stock (closing price on NYSE) on the Determination Date:
Terms of Stock Options
