Future Options. Executive shall be eligible, at the sole discretion of the Board, for additional annual stock option grants (the "Future Options") pursuant to one or more additional option agreements. Any Future Options will be granted under and subject to the terms and conditions of a stock option plan of the Company as then in effect (as of the date of any grant, an "Effective Option Plan"). The terms and conditions of such Future Options are intended to be such that Executive shall receive a compensation package commensurate with executives performing the same functions as Executives for businesses similar to the Company.
Future Options. The parties acknowledge and agree that future stock options or equity incentive awards, if any, that may be granted by the Company to Optionee shall have such terms and conditions as shall be determined by the Board of Directors or Compensation Committee and may not, for example, have the automatic acceleration of vesting provisions or extended exercise periods as are provided for in this Agreement.
Future Options. Any other equity award made to Executive following the Effective Date in addition to the Option which is subject to vesting or forfeiture (each such equity award, a "Future Option") shall also vest immediately with respect to 100% of any then unvcsted or unreleased shares upon a Termination Other Than For Cause.
Future Options. Discontinue Use of System: If at the end of the contract period, the County decides to no longer pursue the DHD system, Consultant will release data contained in DHD along with information on relationships in the data to a third party format (i.e.: Access, Excel, CSV, etc.) with no further obligation to County. Data will be released within thirty (30) business days after the date of contract termination or date of payment of any outstanding invoice, whichever is later.
Future Options. Any options granted to Employee after October 1, 2008 shall be subject to the acceleration provisions set forth below. “If Employee’s employment with the Company is terminated without Cause on or within twelve (12) months following the effective date of a Change of Control, then, subject to the requirements set forth in Section 7.2(a) and (b) of the Initial Agreement and provided that the release described in such Section 7.2(b) has become effective in accordance with its terms prior to the 30th day following the effective date of such termination, then Employee shall become vested in 50% of the shares subject to options to purchase Company common stock then held by him which were initially granted to Employee after October 1, 2008. For purposes of the foregoing, a termination of Employee’s employment shall be “without Cause” if the Company unilaterally terminates Employee’s employment with the Company for any reason other than Cause; provided, however, that termination of Employee’s employment shall not be “without Cause” for these purposes if it results from the death or disability of Employee. A termination shall also be “without Cause” if (i) during Employee’s employment, the Company changes Employee’s title or position without Employee's written permission, such that he experiences a material diminution in his authority, duties or responsibilities (a “Material Adverse Change”), (ii) within 10 days of the effective date of the Material Adverse Change, Employee provides written notice to the Board of Directors of Employee’s intent to voluntarily resign from employment with the Company due to the Material Adverse Change if such Material Adverse Change is not cured within fifteen days of the Board’s receipt of such notice, (iii) the Board does not cure the Material Adverse Change within fifteen days of its receipt of such notice, and (iv) Employee voluntarily resigns no later than the end of business on the fifteenth day following the Board’s receipt of such notice.”
Future Options. Subject to the terms and conditions stated in this Agreement, the Stock Options shall vest, and Awardee shall have the right to exercise the Stock Options, in varied increments. A forty percent (40%) increment (60,000 shares) shall vest and become exercisable on June 1, 2000 ("First Increment"); thereafter, twenty percent (20%) increments (30,000 shares) shall vest and become exercisable on June 1, 2001, June 1, 2002, and June 1, 2003. If Awardee ceases to be an employee of the Company for any reason prior to the date any or all of the annual installments have vested, the Stock Options shall be forfeited and expire with respect to the unvested portion. Exercise rights shall be cumulative, meaning that any vested but unexercised Stock Options from prior years may be exercised without reducing the rate at which Stock Options vest and become exercisable.
Future Options. During the Employment Term and any Renewal Term, Executive also shall be eligible to participate in stock option plans and grants, if any, that are offered to senior executive/officer employees of the Company.
Future Options. On the date of the first meeting of the Company’s board of directors following the completion of the Employee’s first full year of employment with the Company, and each subsequent year thereafter, the Company will grant to Employee an option (each, a “Future Option”) to purchase a minimum of twenty-five thousand (25,000) shares of the Company’s common stock, which Future Option shall (a) to the extent possible under the applicable rules of the Internal Revenue Code of 1986, as amended, be an incentive stock option, (b) be issued under and subject to the terms and conditions of the Company’s 2004 Stock Incentive Plan, (c) be exercisable at a price per share equal to the fair market value of the Company’s common stock on the date on which the Board of Directors approves such Option (such date, the “grant date”), (d) be subject to vesting, subject to Employee’s continuous employment with the Company, as follows: (x) 25% of the shares subject to the Initial Option shall vest after six (6) months of continuous employment following the grant date, and (y) one-twenty-fourth (1/24th) of the shares subject to the Initial Option shall vest monthly thereafter, so that the Option will be fully vested and exercisable two (2) years from the date of grant).
Future Options. For each year that the Company continues to employ the Optionee under the Employment Agreement beyond the initial three-year term thereof (the "Initial Term of Employment"), the Company shall grant to the Optionee the option (the "Future Option") to purchase that number of shares of the Company's Common Stock which the Company's Board of Directors, through the exercise of its discretion, may set; provided, however, that for each year of the Optionee's employment beyond the Initial Term of Employment, the Company shall grant to the Optionee a Future Option to purchase a minimum of 100,000 shares of the Company's Common Stock. Future Options shall vest one year after the date on which they were granted (the "Future Date of Grant") or sooner as may be provided in the Future Option grant agreement. The exercise price per share of Common Stock covered by any Future Option (the "Future Option Price") shall be the closing price of the Company's Common Stock on the Nasdaq on the Future Date of Grant, or, in the event the Future Date of Grant is a date on which no trading occurred on the Nasdaq, the Future Option Price shall be the closing price of the Company's Common Stock on the Nasdaq on the trading date immediately preceding the Future Date of Grant.
Future Options. The purchase price for shares subject to options which may be granted hereunder with respect to Meetings shall be equal to the last trade price per share of Common Stock on the date of the Meeting, or, if no trade occurs on such date, then the purchase price shall be the mean between the bid and asked price on such date. If the date of any Meeting is not a business day, then the purchase price shall be established as described in the preceding sentence based upon the trading activity of Common Stock for the business day next preceding the date of such Meeting.
