Option Award. The Company hereby awards Grantee an Option to purchase shares of Company common stock, par value $.01 per share (“Shares”), pursuant to this Agreement at an exercise price per Share of $XX.XX, subject to the terms and conditions set forth herein and in the Plan. The Option may not be exercised in whole or in part as of the Grant Date, and becomes exercisable only if and to the extent provided in the following paragraphs and otherwise subject to and in accordance with the Plan.
Option Award. (i) In consideration of the commitment he will assume during the Employment Period, the Executive shall be granted an award (the "Option Award") of non-qualified options under the Enterprise Long-Term Incentive Plan ("LTIP") to purchase 250,000 shares of the Common Stock without nominal or par value of Enterprise ("Stock"). Options granted under the Option Award are herein referred to as "Options". The grant price of the Options shall be the closing price of xxx Xxxxxx Xxxxx xx the New York Stock Exchange on the Effective Date. The Executive's right to the Option Award shall vest and become exercisable in accordance with the following schedule, provided that the Executive has remained continuously employed by the Company during the Employment Period through the dates indicated below: Date Number of Shares ---- ---------------- October 17, 2001 50,000 October 17, 2002 50,000 October 17, 2003 50,000 October 17, 2004 50,000 October 17, 2005 50,000 If, during the Employment Period (1) there occurs a Change in Control, or (2) Enterprise enters into an agreement to merge or consolidate with any other corporation which, if consummated, would meet the requirements of Section 6(b) (iii) and the shareholders of Enterprise approve that agreement, the entire Option Award shall vest and become exercisable. If, during the Employment Period, the Company terminates the Executive's employment without Cause or the Executive terminates his employment for Good Reason, or the Executive's Employment terminates by reason of death or Disability, the Executive's right to the entire Option Award shall vest and become exercisable as of the Date of Termination. If, during the Employment Period, the Company terminates the Executive's employment for Cause or the Executive terminates his employment without Good Reason, including Retirement, the Executive shall forfeit all right to all shares of the Option Award that are not vested as of the Date of Termination.
Option Award. As of the Effective Date, Executive shall be granted an option to purchase 2,488,889 shares of Company stock (the "Option Award") pursuant to a separate written Non Qualified Stock Option Agreement under the Company's 2006 Omnibus Stock Incentive Plan (the "Plan"). The Option Award shall be subject to the terms and conditions of that agreement and the Plan.
Option Award. As determined by the Board of Directors and the President & CEO, Executive is eligible to receive grants of options to purchase common stock of the Company under the Company's 1999 Stock Option Plan. In 2002, Executive will receive a grant of options to purchase up to 125,000 shares of the common stock of the Company under the Company's 1999 Stock Option Plan, at an exercise price of $.70 subject to the terms and conditions of the Stock Option Plan. Such options are intended to be classified as incentive stock options for tax purposes, and shall vest and expire and be subject to such other terms as provided on Exhibit C attached hereto. The terms of the stock option grant are set forth in a Stock Option Agreement in the form used pursuant to such Plan and attached to this Agreement.
Option Award. As of the date hereof, Employer shall grant to Executive an Option with respect to 400,000 shares of Common Stock with an exercise price equal to the closing price of the Common Stock on the NASD OTC Bulletin Board as of the trading day immediately prior to the date hereof (the "400,000 Option Award"). The 400,000 Option Award shall not be adjusted in terms of number of shares issuable upon exercise in the event of a reverse stock split of up to 1 for 30 effected within one year of the date hereof, but the exercise price will be adjusted. The Options shall vest and become exercisable when, as and after the date that the Company's market capitalization (the total number of outstanding shares of common stock and common stock equivalents, i.e., debt and preferred stock convertible into common stock, computed on an as converted basis, multiplied by the transaction price reported by a stock exchange, an automated quotation system such as the Nasdaq Stock Market or the OTC Bulletin Board, or a market maker) first equals or exceeds $25,000,000; and the Options shall have such other terms and conditions as set forth in the Stock Option Agreement attached hereto as Exhibit B.
Option Award. Bond Street Holdings, LLC (“Holdings”) shall grant Executive of an option to purchase 300,000 shares of Holdings Class A Interests (the “Shares”), which option shall be subject to the provisions of Bond Street Holdings, LLC 2009 Option Plan, as it may be amended from time to time, and a stock option agreement. The option with respect to 1/3 of the underlying Shares shall vest on each of the first, second and third anniversaries of the option grant. The vested portion of the option shall not be exercisable prior to January 25, 2013.
Option Award. Subject to the terms and conditions set forth in this Agreement and the Plan, effective as of the Grant Date, the Company grants to the Participant an Option to purchase ( ) Shares, provided that such Option shall be subject to the terms below. The Option shall be [an Incentive Option][a Nonqualified Stock Option].
Option Award. The Board or any committee of the Board (the “Committee”) appointed to administer the Company’s Equity Incentive Plan, as may be amended from time to time (the “Stock Plan”) shall award Executive as of the Effective Date, options to purchase Forty Eight Thousand (48,000) shares of the Company’s common stock, $0,001 par value per share, having an exercise price of equal to the fair market value of one share of the Company’s common stock as of the Effective Date per shares as determined by the Board or Committee at the earliest practicable time, which options shall be subject to certain restrictions (the “Options Award”). The Options Award shall vest in four (4) equal amounts on each successive anniversary of the Effective Date, provided that Executive is employed by the Company on each vesting date. The Options Award shall be granted pursuant to and shall be subject to all of the terms and conditions imposed upon such awards granted under the Stock Plan and shall be evidenced by an Incentive Stock Option Agreement in the form approved by the Board or Committee. As a condition to receiving the Options Award, Executive acknowledges that the Option Award, together with shares issued thereunder are subject to the Stockholders Agreement dated May 2, 2005, as may be amended from time to time, to which Executive is a party by reason of a Joinder Agreement, and Executive further agrees to execute and deliver upon request a letter in a form approved by the Company’s underwriters agreeing not to sell any shares of Company common stock during a customary period following the completion of an initial public offering of the Company’s common stock.
Option Award. Subject to the terms of the Equity Incentive Plan and the form of stock option agreement issued thereunder, on the Effective Date, the Company will issue the Executive an incentive stock option under Section 422 of the Code (as defined below) to purchase (the “Option Award”) 261,000 shares of the Company’s Class A common stock (the “Shares”). The Option Award shall include the following additional terms: (1) the exercise price per share shall be equal to the Fair Market Value (as defined in the Equity Incentive Plan) of a share of the Company’s Class A common stock on the date of grant of the Option Award; (2) subject to the Executive’s continued employment and the terms and conditions of the Equity Incentive Plan, the Shares subject to the Option Award shall vest and become exercisable as follows: (x) 25% of the Shares shall vest and become exercisable on the Effective Date; (y) 25% of the Shares shall vest and become exercisable on the date that the Company completes a Qualified Financing (as defined below); and (z) of the remaining Shares subject to the Option Award, 25% of such number remaining shall vest and become exercisable on the one (1) year anniversary of the grant date, and the remainder shall vest in equal monthly installments on the last day of each full month over the next thirty-six (36) months, subject to the Executive’s continuous service with the Company or an Affiliate through such vesting dates; and (3) upon the occurrence of a Change in Control (as defined below) all of the Shares subject to the Option Award shall fully vest and become exercisable immediately prior to the effectiveness of such Change in Control, subject to the Executive’s continued employment with the Company as of each such date and as further provided in the terms and conditions of this Agreement, the Option Award and the Equity Incentive Plan. For the purposes of this Agreement, “Qualified Financing” shall mean the Company’s closing of the sale and issuance of shares of the Company’s equity securities following the date hereof in a single transaction or a series of related transactions yielding aggregate gross proceeds to the Company of at least $15,000,000, excluding proceeds received from the exercise of warrants, options or other derivative securities outstanding on the Effective Date.
Option Award. Concurrently with the execution of this Agreement, subject to the terms and conditions set forth in the Plan and this Agreement, the Company hereby grants the non-qualified stock options to purchase shares of Stock (“Options”) described on the Portal Page (the “Option Award”) to the Grantee, with an “Exercise Price Per Option” as indicated on the Portal Page. The Option Award has been granted as of the date hereof and shall terminate on the expiration date specified on the Portal Page (the “Expiration Date”), subject to earlier termination as provided herein and in the Plan. Upon the termination or expiration of the Option Award, all rights of the Grantee in respect of the Option Award made hereunder shall cease. Subject to the provisions of the Plan and this Agreement, the Option Award shall vest in accordance with the schedule described in Paragraph 3 below.
