INITIAL GRANT OF OPTIONS. On the date of appointment to the Board, each eligible Optionee shall be granted an option to purchase at the "fair market value" from the Company an aggregate of 5,000 shares of Common Stock. The option shall vest and become exercisable at the rate of 20% per year after the expiration of the first year following the date on which the option is granted and shall be exercisable in full only after the expiration of five (5) years following the date the option is granted.
INITIAL GRANT OF OPTIONS. Upon the execution of this agreement the Employee shall receive 100,000 stock options to purchase the common shares of the Company at an exercise price equal to the Fair Market Value of the share price on the day the option is granted less the maximum allowable discount allowed by law which will not create income to the Employee or expense to the Company.
INITIAL GRANT OF OPTIONS. As a signing bonus, the Corporation shall grant to the Executive as of the date hereof and pursuant to a separate Stock Option Agreement, 200,000 stock options. Availability of said options will be subject to the option plan as adopted by the Board of Directors.
INITIAL GRANT OF OPTIONS. As compensation for the services to be rendered hereunder and upon execution of this agreement, GKIS will grant to GRIBI options (the "Options") to purchase Three Hundred Thousand (300,000) shares of GKIS common restricted stock (the "Shares") for a strike price $2.3125 per share. The effective date of this grant will be the date of this agreement. The agreed fair market value of the Options shall be $ 2.3125 per share, the closing price for freely trading shares as of that date.
INITIAL GRANT OF OPTIONS. Upon the Commencement Date, the Executive shall be entitled to a grant of approximately 330,000 options which shall automatically expire ten years after the date of grant and shall vest equally over a period of three years (1/3 per year) on the anniversary date of the date of grant. The exact number of options to be granted to the Executive as part of the initial grant shall be determined by dividing the Executive’s Base Salary by the value of an option, calculated using the Black-Scholes option valuation model using assumptions in accordance with Thera’s current practice. The exercise price of the options will be determined on the date of grant in accordance with the terms and conditions of the Plan.
INITIAL GRANT OF OPTIONS. The Executive shall receive two million and two hundred and fifty thousand (2,250,000) Options subject to Standard Vesting, which shall provide for 25% of the total amount granted to vest on the first anniversary of the grant, with 1/36th vesting at the end of each month thereafter for the succeeding 36 months.
INITIAL GRANT OF OPTIONS. Employer has established a stock incentive plan in the form included as an Exhibit to the Registration Statement (the "Stock Incentive Plan"). The Stock Incentive Plan initially provides, among other things, for the issuance from time to time of options to purchase an aggregate of up to 425,000 shares of Common Stock ("Options''). On the Effective Date, Employer shall grant to Executive 15,000 Options (the "Initial Grant'') that will vest on December 31, 1996 and, to the extent vested and subject to Section 4(c), shall be exercisable at the public closing price of the Common Stock on May 31, 1996.
INITIAL GRANT OF OPTIONS. The company agrees to CONDITIONALLY grant to Employee Three Million (3,000,000) shares of common stock in the Company (the "COMMON STOCK"). THE SUBJECT SHARES ISSUED ARE NON TRANSFERABLE AND SUBJECT TO FORFEITURE.
INITIAL GRANT OF OPTIONS. (a) For his services under this Agreement, the Employee shall be entitled to receive an initial grant of 300,000 stock options in the Employer (or its successor, as the case may be), to be issued on and priced based on the closing price of the Employer’s common shares on the NYSE on such date that is five (5) days following the closing date of the proposed business combination with Minera Andes Inc. In the event that the proposed business combination with Minera Andes Inc. is not completed, then such options shall be issued and priced based on the closing price on such date that is five (5) days following the public announcement that the proposed transaction has been withdrawn, cancelled or otherwise terminated. To the extent permissible, the options shall be granted as “incentive” options under the Employer’s Equity Incentive Plan and shall be subject to all the terms and conditions of that Plan. The Employee may also be considered for additional options in the sole discretion of the Employer’s Board of Directors.
INITIAL GRANT OF OPTIONS. As a signing bonus, the Corporation shall ------------------------ grant to Executive as of the date hereof and pursuant to a separate Stock Option Agreement, 15,000 stock options. The options shall be immediately exercisable for a period of three years from the date hereof at an exercise price of $.15 per share.
