Future Option Grants. In the sole and absolute discretion of the Board of Directors, Executive may become eligible for future option awards on such terms and conditions as the Board directs.
Future Option Grants. The Executive will also be eligible for additional option grants under the Equity Award Plan or any successor thereto; provided, that the making of any such grants, and the terms and conditions applicable thereto, shall be determined by the Board (or the appropriate committee thereof) in its sole discretion.
Future Option Grants. Executive will be eligible to be granted options to purchase Common Stock of the Company commencing on the first anniversary of his employment, at times and in amounts to be determined in the sole discretion of the Compensation Committee of the Board.
Future Option Grants. Any options to purchase shares of Common Stock granted by the Company to officers, directors or employees of, or consultants or advisors to, the Company from and after the date hereof through the Option Expiration Date shall provide that such options may not be exercised on the Option Closing Date (as defined in the Depositary Agreement).
Future Option Grants. Parent agrees that it will not issue any options, warrants or other rights to acquire Common Stock (including securities convertible into shares of Common Stock) after the Closing Date unless such options, warrants or other rights have an exercise price per share of Common Stock of no less than the market value per share of the Common Stock at the time of grant or $1.00 per share, whichever is greater. Notwithstanding the foregoing, Parent shall be entitled to grant to (a) Xxxxxxx X'Xxxxx options to purchase 100,000 shares of Common Stock at an exercise price of $.75 per share, (b) Xxxxxxx Xxxxx options to purchase 100,000 shares of Common Stock at an exercise price of $.65 per share, (c) Xxxxxxxx Surety IBC warrants to purchase Common Stock at an exercise price of $.75 per share in accordance with the terms of the existing agreement between Parent and Xxxxxxxx Securities IBC and (d) Xxxxxxxxx Securities, Inc. warrants to purchase 18,750 shares of Common Stock at an exercise price of $.60 per share pursuant to the existing agreement between Parent and Xxxxxxxxx Securities, Inc. Additionally, nothing in this Agreement shall prohibit Parent from extending the exercise period of the following options and warrants; provided that such extension is for no more than three years and is approved by the Board of Directors of Parent after the election of the Investor Nominees to such Board: (i) options to purchase 321,931 shares of Common Stock at an exercise price of $.3728 previously granted to Xxxxxx XxXxxxx; (ii) options to purchase 321,931 shares of Common Stock at an exercise price of $.3728 previously granted to A. Xxxx XxXxxxx; (iii) options to purchase 40,242 shares of Common Stock at an exercise price of $.6212 previously granted to Xxxxx X. XxXxxxx; (iv) warrants to purchase 1,207,240 shares of Common Stock at an exercise price of $.7455 previously granted to Xxxxxx XxXxxxx; (v) warrants to purchase 1,207,240 shares of Common Stock at an exercise price of $.7455 previously granted to WCI, Inc.; and (vi) warrants to purchase 603,620 shares of Common Stock at an exercise price of $.7455 previously granted to A. Xxxx XxXxxxx.
Future Option Grants. Executive acknowledges that the next scheduled equity award date for all senior executives is September 2005, but the COMMITTEE is not precluded from making earlier awards if it chooses to do so in its sole discretion. The COMMITTEE will determine in its discretion whether Executive will be granted any option or options and the terms of any such option or options in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time.
Future Option Grants. In the sole and absolute discretion of the Compensation Committee, ECB may become eligible for future option awards on such terms and conditions as the Committee directs, and on the same basis as other officers of the Company and shall not be excluded from any general stock option programs that include one or more Officers and / or directors of the Company.
Future Option Grants. Unless otherwise agreed to by the Compensation Committee of the Board of Directors, the right to exercise options granted under the Company’s stock option plan or other approved plans after the date hereof will vest, and the Company’s repurchase rights with respect to shares granted under such stock option plan or other approved plans shall lapse, until the option holder’s employment with or service to the Company terminates, over a four (4) year period on terms no more favorable than twenty-five percent (25%) on the first anniversary of the grant date with the remaining seventy-five percent (75%) vesting monthly on a pro rata basis over thirty-six (36) months, so as to be fully vested at the expiration of four (4) years.
Future Option Grants. The Executive may also participate in the Company's existing stock option program for its "key" management team. Under this program key executives are granted options that vest over a five (5)-year period. These options are designed to generate a value at the end of the five (5)-period that equals the initial year's base salary. The program assumes that the Company's earnings grow at a rate of twenty-five percent (25%) per year during the five (5)-year period. Options awarded under this program are within the sole discretion of and are subject to the approval of the Board of Directors.
Future Option Grants. During the term of his service as a director, the Executive will be entitled to grants of stock options made to other continuing non-employee directors in amounts and on the same terms and conditions as grants to such other non-employee directors.
